Michael A. Fardella, CPA

New York, NY, East **th Street

Email: adzaad@r.postjobfree.com

Phone: 917-***-****

SUMMARY

Highly motivated New York State Big 4 CPA with 20+ years internal and external audit experience, primarily in investment management and banking, seeks an internal audit position or other role that will allow me to apply my wide-ranging experience in the US and abroad. Proficient in the design and execution of a risk-based audit plan, audit program development, report writing, and the identification of audit findings with suggested management corrective action plans. My ideal next role is a long-term position where I can leverage my knowledge and experience to deliver top-quality results.

EXPERIENCE

July 2023 to Present – Contractor for US Governmental Agency, New York, NY

Underwent a comprehensive federal background check in July for a US governmental agency through a Big 4 firm. The work is related to finance and confidential. Currently waiting to be deployed.

March 2022 to June 2023 - Self Employed, New York, NY

Prepared tax returns for individuals under a single member LLC established in 2013.

Engaged in day trading.

Took the opportunity to visit friends and family to assist with home renovations and DIYs, something I enjoy.

June 2020 to Feb. 2022 - The New York Power Authority, Manager, White Plains, NY (resigned)

Planned and managed audits for Commercial Operations under Agile project mgmt. methodology; supervision of staff; workpaper review; finalized audit reports; certified Agile Coach.

Audit coverage: Other Post-Employment Benefits for investments held in trust; energy trading; ops; HR PII.

Recommended second-line oversight controls to formalize OTC credit exposure oversight: inventory of ISDA agreements & terms; review of Call and FOCUS Reports for banks and broker-dealers, filed with the FFIEC and FINRA, respectively.

Began working remotely from Long Island in June 2020.

July 2019 to May 2020 – Temporary Relocation and Home Renovation

Temporarily relocated to Suffolk County, Long Island to renovate and sell a family home rented for several years. COVID delayed showings and the subsequent sale until Jan. ‘21, after which time I returned to NYC.

April 2018 to June 2019 – Self Employed, New York, NY

Setup an e-services account with the IRS to electronically file tax returns for clients.

Performed enterprise-wide risk and controls assessments for a community bank. The work was confidential and performed remotely to assist a former colleague in North Carolina.

Attended various industry trade conferences and networking events sponsored by the Financial Executives Networking Group and the Institute of Internal Auditors.

Sep. 2015 to Feb. 2018 – Apple Bank for Savings, VP Deputy Chief Internal Auditor, New York, NY (resigned)

Joined the Bank shortly after it surpassed the $10B regulatory asset threshold, thus becoming a 2nd tier bank and exposing it to heightened regulatory scrutiny.

Defined the audit universe and developed the 5-year risk-based audit plan, split by branch and non-branch (i.e., lending, trading, etc.) audits, in conjunction with developing an Audit Standards Manually documenting a risk-based audit methodology; both were submitted to the Bank’s regulators.

Worked directly with the FDIC (onsite), FRB, and NYSDFS regarding remediation plans for MRBAs and MRAs issued with their joint Target Examination Reports. Familiar with the FDIC’s Financial Institutions Letters (FILs); FRBs “alphabet” regs; Consumer Financial Protection Bureau’s regs.

Assisted the CAE with developing an initial Quality Assurance Improvement Program for a new hire.

Trained staff for creating first-time risk-control matrices for: Commercial RE, Export Credit, Investments and Investments Accounting, FFIEC Call Report.

Hired staff; supervised up to 14 direct reports; attended all audit committee meetings.

April 2013 to Aug. 2015 – Self Employed, New York, NY (LLC setup in April 2013)

Mizuho Capital Markets – Assisted the Chief Auditor with preparing for an IA Quality Assurance Review; audited payroll; reviewed workpapers for Credit Risk Mgmt., OTC collateral, portfolio admin, fixed income ops.

Royal Bank of Canada – Designed the initial Volcker Rule Readiness audit program; collaborated with stakeholders to identify US buy and sell side trading desks subject to compliance risks and suggested end-state controls; raised concerns for seed capital; designed tests for 2% proprietary invest. limit for covered funds.

David Landau and Assoc. – Managed a SOX audit for a reverse mortgage company preparing to go public.

Grant Thornton – Led a co-sourced internal audit for Apple Bank (later hired as an FTE), covering investment management and accounting. Workpaper review; identified risks, controls, and designed tests.

PwC – Rehired by the IA Services practice. Audits of Citibank’s broker-dealer (15c3-1 customer protection), trust administration, regulatory reporting (Call Report) and FAS 160 (equity method investment accounting).

AIG – Planned a substantive audit for two merged Bermuda based wholly owned subsidiaries; reviewed interim and target end-state finance controls, GL mapping, designed audit tests.

2006 to 2012 - Lazard Frères, VP Asset Management Internal Audit, New York, NY (mgmt. changes)

Hired after working with Lazard IA, when with EY beforehand, to continue strengthening the IA function post IPO and developing initial risk-based audits for the investment management business in the US and abroad.

Coverage: convert. arbitrage; hedge funds (fund-of funds, AI Ops, ODD, etc.); equity portfolio mgmt.; legal and compliance; portfolio risk mgmt.; ops (NY and Frankfurt 2x); sales and mktg. (NY, UK, and Frankfurt); other.

Site visits to ops svc. providers in NY and Frankfurt to assess controls over outsourced work; participated in weekly PMO meetings. Scope: trade mgmt. (confirmation and settlement), custody recon, corp. actions, proxy voting, portfolio accounting, failed trade oversight, 3rd party claims, securities valuation, including SOX.

Sydney Australia full scope audit over 2 trips, covering all front and back-office functions, including SOX. Accompanied the Head of Legal for the annual third-party unit trust administrator meeting as part of Sydney’s oversight. Performed all work and the final report.

Vetted and updated the quarterly open audit issues report with management and verified corrective actions for closed points. Assisted with the development of the Continuous Auditing Program.

Other areas covered include soft dollars, self-dealing, best execution, AML, and other ’40 Act considerations.

Extensive report writing. Familiar with FSA (UK), BaFin (German), and ASIC (Australia) regulations.

2003 to 2006 – Ernst & Young, Manager, New York, NY (counter-offered to stay when I resigned)

Risk Advisory and Core Assurance Practices:

Led IA co-sourced audits for Lazard; managed SOX and IA projects with Morgan Stanley, DTCC and MetLife.

Proprietary hedge fund IA co-sourcing project: worked with the fund’s internal auditor ahead of accepting outside investors. Met with departmental heads to document processes and define the ‘audit universe’.

Managed hedge fund financial statement audits for domestic and offshore master-feeder fund structures.

1999 to 2003 - OFFITBANK (private bank), VP Internal Audit, New York, NY (company sold)

Responsible for managing the audit function and later compliance; primary liaison with the NYS Banking Dept.

Grand Cayman fund administrator site visit and Board report for a newly launched hedge fund.

Provided the interim CEO with an overview of the Bank’s legal structure and operations to assist with the transition of workstreams to Wachovia in relation to the sale of the Bank.

1997 to1999 - Citibank, Manager, Asset Management Internal Audit, New York, NY (left after Traveler’s merger)

Audits of RE loans and securitization; Citi Trust Bahamas; Sioux Falls Ops, SD; site visit and due diligence for a 3rd party investment manager sponsored by Citi. Performed a final audit for a closed fund in Montreal.

1996 to 1997 - PaineWebber, Sr. Internal Auditor Cap Markets, New York, NY (company sold)

Trading desk audits covering best execution, trade confirmation, system entitlements; mortgage back security ops audit. Site visits to PaineWebber’s Pacific Stock Exchange specialist posts in SF and LA.

1993 to 1996 - Price Waterhouse, Staff Accountant, Long Island and New York, NY (pursued other opportunity)

Hired off campus at Hofstra University.

Mutual fund financial statement audits; DTC SAS70 review, internal audit co-sourcing project with JPM.

Hofstra University, Hempstead, NY

B.B.A. Accounting 1993 / GPA: 3.3 major and overall

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