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Financial Institution Expert Witness

Keywords

financial institution, banks, thrift, credit union, brokerage firms, cost accounting, asset liability management, forensic accounting, cash management,

California

Expert Witness No.2879

California

EDUCATION

Brown University, B. A. Economics

New York University, M. B. A. Finance

LICENSES

Certified Public Accountant (Inactive), California

Real Estate Broker, California

MEMBERSHIPS

Association for Management Information in Financial Services
National Association of Realtors

CORE COMPETENCIES

Battle tested problem solver with 30 plus years of successful Executive Management, Financial & Operational Consulting experiences with Banks, Thrifts, Credit Unions and Brokerage Firms.

  • Product Profitability Measurement
  • Customer Profitability Measurement
  • Activity Unit Costs
  • Matched Maturity Funds Transfer Pricing
  • Cost Accounting
  • Asset/Liability Management
  • Project Management
  • Turnaround CFO Assignments
  • Forensic Accounting
  • Organizational Analysis
  • Cash Management
  • Work Measurement & Simplification
  • Liquidity Management

SELECTED PROJECT EXPERIENCES

ACCOUNTING, COST ACCOUNTING AND PROFITABILITY REPORTING
Developed detailed flow charts and Activity Unit Costs, and was deposed in defense of NSF Fee related Class Action Suits against two major financial institutions.
Designed and implemented many Actual and Standard Activity Cost based Product, Customer and Profit Center Profitability reporting systems (including one for the nation’s 10th largest bank).
Identified and corrected flaws in SBA I/O (Interest Only Strip) accounting assumptions and calculations that were overlooked by the Bank’s “Big 4” CPA firm.
Identified and corrected erroneous accounting entries recorded when restating financial statements to reflect the reversal of the sale of Mortgage Backed securities.
Identified FASB 91 adjustments that increased reported profits by $ 1.6 million.
Designed and implemented a number of automated systems including General Ledgers, Official Checks, Securities, Loans, Payrolls, etc.

TURNAROUND AND PROFIT IMPROVEMENT
Developed, initiated, implemented and monitored a Turnaround Plan for a $ 1 Billion commercial bank that had lost 45% of its capital in two years.
Reduced total bank salaries by several million dollars per year.
Disposed of four unprofitable Branches.
Out-sourced data processing which reduced expenses by several million per year.
Reduced occupancy expense by more than $ 1 million a year.
Acquired multi-millions of dollars in new capital.
Developed, initiated, implemented and monitored a Turnaround Plan for a national loan originator.
Restructured the compensation and marketing strategies of a national SBA Loan Origination business.
Dismantled a national Sub Prime 2nd Trust Deed Loan Origination business.
Disassembled a national Pay Day Loan Origination business.
Performed fifteen Productivity Improvement projects that reduced expenses by an average of 12% per year.
Performed several Fee Revenue projects that increased deposit and loan fee revenues by as much as $ 5.5 million per year at a $ 13 billion institution.
Created and managed a profitable Bank Securities Broker/Dealer operation.
Performed more than thirty Float/Cash Management projects that significantly increased the level of investable funds.

ASSET/LIABILITY AND FUNDING MANAGEMENT
Purchased interest rate contracts that generated $ 6.1 million in pre-tax profits.
Implemented a number of Asset/Liability Reporting Systems.
Established several Institutional Money Desks, Reverse Repo Lines and other Secondary Funding sources

EMPLOYMENT HISTORY 

A Private Company in, Arroyo Grande, CA.
Proprietor, 1989 - To Date
The following temporary turnaround assignments required that I be a member of the Executive Management team:
Community West Bancshares, Goleta, CA.
Executive Vice President & CFO, 2001 - 2002
ASI (Division of IPS - Sendero), New York, NY.
Managing Director, 1999 – 2000
Southern California Savings & Loan Association, Beverly Hills, CA.
Acting CFO, 1995
Community Bank, Pasadena, CA.
Executive Vice President & CFO, 1993 – 1995
Mercantile Bank, Los Angeles, CA.
Executive Vice President & CFO, 1989 - 1991
KPMG, Los Angeles, CA.
Western Regional Partner, Financial Institutions, 1982 - 1989
Partner, Financial Institutions, 1981
Sr. Manager, Financial Institutions, 1979
Manager, Financial Institutions, 1978
Sr. Consultant, Financial Institutions, 1977
Consultant, Financial Institutions, 1976


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