Construction Project Audit Manager

Dora Ditchev, CPA, FP&A

**** ******* **** *** . **** Nevada 89523. 775-***-**** . ***********@*****.***

Summary:

Established executive professional in accounting, finance and financial strategy. Over twenty years of successful career, managing accounting and finance functions, building teams, leading departments and projects in two growing public companies and a key participant in four acquisitions. Consistently evaluate, streamline and automate accounting functions, processes and controls. Experience in implementing accounting, reporting and operational systems and in system integrations. Experience in building fundamentals for company’s analytics and in “building a bridge” between Finance and Operation. Extensive experience in GAAP, SEC, taxation and compliance. Excellent combination of detail understanding of accounting and corporate strategic view.

Working with executive leadership in identifying risks and opportunities. Strong negotiator and collaborator, working with external auditors, Board of Directors and consultants. Leader with vision, strong work ethic and drive to achieve.

Core Areas of Competence:

Technical Accounting Mergers and Acquisitions (M&A)

US GAAP/SEC/SOX Compliance Project management

Processes and controls improvement Leadership and decision making

Strategic Financial Planning Profitability and Cost Analysis

Financial Reporting Construction audit and accounting

Budgeting and forecasting IRS/FinCen and State regulation compliance

Financial Planning and Analysis Taxation

Professional Experience

MONARCH CASINO & RESORT, INC. publicly traded company (MCRI)

Vice President of Finance / Corporate Director of FP&A and External Reporting 3/2016 – Present

In absence of a corporate CFO, manage reporting, analytics, SEC compliance, federal taxation, capital policy, public relation, as well as involved in accounting and operational innovation, automation and policy enhancements. Report directly to the Company’s CEO.

Responsible for compliance and reporting with SEC (10-K, 10-Q, 8-K, Proxy Statement, Form 4) as well as for earnings press releases. Manage the entire process of preparation, communication with External auditors, Board of Directors and Committees, Investor relation, SEC lawyers, review, and publishing or filing with SEC. Hands on in preparation of the schedules and MD&A, and the filing documents, using Merrill Bridge tool.

Research and implement new accounting and regulatory guidance (new revenue recognition, Tax Cuts and Jobs Act, SEC pay ratio). Prepare memos for the effect of the new regulations on the Accounting/Finance policies and the financials reporting and present to the Executives and Board of Directors.

Hands on and in charge of auditing and accounting for $350-million construction project, manage company’s capitalization policy and cost segregation

Review monthly financial statements. Present monthly financial results to the CEO and COO and prepare monthly performance reports for the Board of Directors.

Model long-term projection on Company’s financial performance and equites’ structure and presents covenants to the Bank.

Lead annual budgets, monthly/quarterly forecasts.

Responsible for federal income taxes. Work with tax consultants, explore tax savings, prepare tax schedules and review the tax provision and tax return. In 2017 work extensively on the Tax Cuts and Jobs Act, recommended and executed tax saving strategies.

Administer the Employee Incentive Stock Option Plan. Keep track of the grants and transactions using Certent system. In 2017 prepared recommendation for additional shares, presented the analysis to the Board with recommendation to be included in the proxy for shareholders’ vote.

Work with PR company and Nasdaq on public relation and advertising campaigns.

Recommend and lead cost saving, automation projects. In 2017-2018 managed Green Globe certification project that lead to $1.8 million property tax abatement.

Review/negotiate companywide contracts.

ATLANTIS CASINO RESORT & SPA, Reno, Nevada, fully owned subsidiary of MCRI

Director of Finance - Report directly to the Corporate CFO 7/2014 – 3/2016

Director of FP&A and External Reporting - Report directly to the Corporate CFO 9/2012 – 7/2014

Controller – Report to the VP of Finance 11/2005 – 9/2012

Made executive business decisions on accounting issues and transactions. Lead a team of 60, including Accounting, Purchasing, Receiving, Cage and Count team. Managed all finance functions, including day-to-day department operations, financial reporting, government compliance, taxation and internal controls. Execute monthly performance review meetings with the heads of operational departments. Experienced in managing multiple audits by IRS, state and local government agencies. Act as a Compliance officer for the Title 31 of Bank Secrecy Act.

Restructured the Atlantis Finance department to improve skills, bench strength while reducing headcount.

Implemented BlackLine system, general ledger tool, and reengineered supporting processes to cut month end close process to five days.

Successfully implemented companywide on-line training system to ensure compliance with Title 31 of the federal Bank Secrecy Act.

Drove improvements in inventory control through transforming the function from ‘counting and recording’ only to incorporating variance analysis followed by processes and control improvement.

Consistently challenged interpretation of tax code to generate savings: i) questioned the classification of gaming devices which resulted in a $21k one-time savings and $7k annually going forward; ii) successfully challenged other expense deductibility treatments for corporate tax resulting in current year savings, a refund from amended prior year returns and future savings and iii) restructured sales packages to reduce tax paid.

Led projects and analyses for the CEO and CFO to increase efficiency and bottom line in the areas of: marketing events and promotions; payroll expense; ROI and complimentary analysis.

oDeveloped monthly performance executive summary distributed to Board of Directors.

oDeveloped monthly report for CFO and CEO highlighting major performance drivers

oDeveloped profitability analysis for marketing events, promotions and sales groups.

Project Management – led project to develop proprietary software tool to ensure compliance with Title 31 of the Bank Secrecy Act. The project consisted of building an in-house computerized system to track all cash transactions from numerous operational systems; creating a training program for all gaming departments; creating daily audit procedures and electronic filings with the IRS.

Managed post acquisition processes for Riviera Black Hawk Casino, Monarch’s first acquisition, including the day of closing asset cutover, purchase price accounting and the balance sheet set up for the new company. Closed the accounting books in the first two months following the acquisition using the newly installed GL system and newly adopted GL chart of accounts.

Worked directly with the CFO on various projects, including food and beverage profitability analysis and implementation of new food and beverage analytics tool; lost revenue analysis for a large insurance claim and guest profitability analysis.

Transformed the revenue audit department. Set up new audit processes in each gaming and non-gaming area allowing for the creation and automation of a daily revenue report distributed to the executive team.

Reorganized the count team and downsized it from 12 to 7 team members.

Created and implemented methodology for accurate accounting of complimentary point liability, unredeemed gift certificates allowance and bad debt allowance.

SANDS REGENT, INC., publicly traded company Reno, Nevada

Director of Finance 2003 – 2005

Controller 1998 – 2003

Revenue Audit Manager 1996 – 1998

Started as a Revenue audit manager and over ten years advanced to Director of Finance, during which time the company grew from a single property to multi-property company. Actively participated in the three acquisitions which significantly grew the company. As Director of Finance, was responsible for all accounting functions and as a member of the Executive Committee participated in company’s executive decisions.

During my tenure, I was the architect of the departmental structure, accounting functions and technical accounting tools.

Managed the consolidation process. Restructured the department and created a “horizontal” structure that proved to be highly effective and resulted in labor savings by eliminating management positions at the property level.

Managed and executed the transition from AS400 to the Great Plains accounting system and the design of a new chart of accounts for all properties.

Responsible for the review and issuance of the financial statements for the four properties. Performed monthly financial review with the CEO, GM and the management team for each property.

Built annual operating budget and capital expenditure forecast.

Prepared or reviewed the tax filings – Nevada Gaming Control taxes and licenses, State Sales and Room tax and IRS tax filings.

Financial analysis; issuing estimated Daily Profit Loss Statement to the executives and management, Monthly Selected Supplemental Financial/Operating Data Report and various other reports on a regular basis or upon request.

Set up accounting, auditing and control procedures for new areas of operations in the casino.

Ensured compliance with Nevada Gaming Regulations, other State and Government agencies.

Rebuilt the revenue audit function to transition it, from pencils to computers, which led to labor decreases with an expanding accounting workload.

Directly involved in building the first Windows based slot system by Acres company, as Sands Regency was a test casino.

Education

California CPA No. 114780

FP&A Professional Certification

University of Nevada, Reno, Nevada: BS in Accounting

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