Software Developer Non-Profit

Ray Schaetzle, CPA

*** ******* ***** • Rutherford, NJ 07070 • Tel No: 201-***-**** • ************@***.***

LinkedIn: https: www.linkedin.com/in/rayschaetzle

PROFILE/ PERSONAL CHARACTERISTICS

As a CPA with a global view of operations, I have a unique perspective of business strategy and growth that can be applied to many for-profit and non-profit organizations in both a technical and advisory capacity. I employ a big picture perspective by looking beyond the numbers and focusing on market trends and competitive issues, and a financial rigor that identifies opportunities while managing risk. As a partner to the business, I am viewed as a thought leader who can transform complex matters into clearly articulated solutions.

EXPERIENCE

Resources Global Professionals, New York City, NY 2021 – May 2024

Consultant - Global finance and accounting consultancy

Gathering due diligence for potential buyers of global process solutions company.

Prepared 10-q, 10-k footnotes for a national investment / insurance company and a

North American automotive back-office software developer.

Various related ad hoc analysis.

Interim CFO – Fruit & Vegetable Wholesaler 2020

• Performed CFO functions.

Automating payroll by commencing an interface into the general ledger.

Prepared Paycheck Protection Program application resulting in obtaining in excess of $2 million of loan proceeds. Created schedules to determine Loan Forgiveness.

Gathered proper support for audit workpapers for an entity, compilation for another entity and tax returns for 2 other entities.

Resources Global Professionals, New York City, NY 2001 – 2020

Interim CFO - Global finance and accounting consultancy

• Gathered data necessary to perform Phase 1 Revenue Recognition assessment. Provided specialized Sarbanes-Oxley compliance and consult in financial and risk management to Fortune 100 companies. Related to this, I have extensive experience with internal control risk assessments in connection with SOX 404 compliance. Prepared documentation and test plans. Managed teams in deadline-driven projects. Performed risk assessments for three major insurance companies; identified key controls and compensating controls to mitigate existing control weaknesses; implemented and tracked remediation plan. This experience involved the following main responsibilities and led to various achievements:

Preparing the initial process documentation for an Energy from Waste company’s shared service center. Performed processes required to invoice county and municipalities for Energy from Waste services on a monthly basis.

Analyzed price times quantity calculations for twenty-five customers for a two-year period and created balance sheets for three companies for a carve out with closing date other than month end.

Created carve out financial statements for a pension services company. This included development of accounts receivable, unbilled receivables, deferred revenue.

Prepared process documentation for a call center company’s SEC filing including preparing the earnings per share footnote.

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Developed documentation for a global mutual fund designed to monitor upfront commissions and contingent sales charges. This improved the accuracy and efficiency of data used by overseas account holders.

Engaged in a revenue recognition assessment for a major home fixture company that allowed for full or modified retrospective.

Designed processes for international troubled debt restructuring, which resulted in a clearer understanding of the sources comprising the balances.

Automated a regulatory requirement for a financial data warehouse, which brought FRY-9C reporting closer to automation.

Managed reserve for merchants that went bankrupt or committed fraud for a large credit card provider covering both domestic and international regions and codified a process to document and monitor transactions, while establishing procedures.

Assisted in the preparation of stand-alone financial statements for an insurance company domiciled in Bermuda as well as prepared consolidated and combined draft of financial statements and footnote disclosures for a pharmaceutical company.

Supervised a group for balance sheet reconciliation of an international insurance company, while creating a template used to analyze intercompany transactions and balances. Supplemented this initiative by creating a dashboard of daily data for management review.

Prepared financial due diligence in connection with potential sale of companies. Reconstructed tax basis in stock for an acquired company and assisted with the loss on disposal from discontinued operations; evaluated goodwill to determine potential impairment.

Prepared carve-out financial statements in accordance with US GAAP and SEC regulations for the sale of the fibers business of the largest chemical company in the world. Highlighted metrics for each task focusing on possible weaknesses and gaps. Interacted with all levels of domestic and foreign management to obtain the data. The results were improved quality of balance sheet and received unqualified opinion from external auditors.

Served as interim CFO for the construction division of the largest provider of gas and electric services in New Jersey. Prepared monthly financial statements on a continued and discontinued basis and restated prior year results. Prepared business plans and operating budgets; developed cash forecasting models; and overhead analysis that resulted in a reduction of $12 million annually. Through these efforts, I was able to reduce overhead and successfully and profitably disposed of various construction entities.

Magnum Sports & Entertainment, New York City, NY 2000 – 2001

CFO — Publicly held professional talent agency

• Major responsibilities involved conducting due diligence and analyzing proposed acquisitions with investors and investment bankers. A major target was Ford Models.

New Jersey Nets, East Rutherford, NJ 1987 – 2000

Executive Vice President, Finance, Senior Vice President, Controller

National Basketball Association franchise

• Responsible for all financial, operational, tax and human resource matters; GAAP compliance; internal control supervision and negotiation with lenders to ensure financial viability and continuance of franchise during periods of poor financial performance. Served as a liaison with the league’s front office on salary cap management. Established a 401-K plan. Evaluated and selected investments, and prepared discrimination analysis to ensure compliance with IRS and DOL requirements.

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Previous Roles 1986– 1987

Accounting Specialist

Reviewed lease agreement with City of New York for national hotel resulting in a $500,000 savings.

Conducted audit of national hotel resulting in changes in financial operations.

Assisted in creating operating budget for headquarters.

Controller 1982– 1986

• Responsible for all accounting, finance, tax and legal matters.

Direct contact for league on financial matters.

Main financial contact during sale of franchise. Retained by new owner.

Interacted with external auditors during annual audits.

Wiss & Company CPAs, Livingston, NJ 1979 – 1982

Auditor

EDUCATION

St. Peter's College, BS Accounting, 1979

CERTIFICATIONS

Certified Public Accountant, 1981

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