Chief Financial Officer @ American Access Casualty Company
Chief Operating Officer @ American Access Casualty Company
Chief Financial Officer @ American Access Casualty Company
Chuck LaMantia is a senior level financial executive with a combination of experiences in small, mid and large organizations. Chuck was recently the Chief Financial Officer and Global Controller of a $5B (asset) organization which was sold as a carve out transaction to a private equity firm. This recent experience included participation is all aspects of the
Chuck LaMantia is a senior level financial executive with a combination of experiences in small, mid and large organizations. Chuck was recently the Chief Financial Officer and Global Controller of a $5B (asset) organization which was sold as a carve out transaction to a private equity firm. This recent experience included participation is all aspects of the transaction including financial modeling, offering memorandum, management presentations, due diligence, credit rating, and purchase accounting. The most recent 18 months saw the creation and implementation of transition related activities including general ledger implementation and the movement from a quarterly to monthly close process.
Chuck’s prior experiences have included financial close redesign with a resulting decrease in the monthly close process cycle time, improved strategic and financial planning, Activity Based Management, Sarbanes Oxley compliance and other merger and acquisition related activity.
Chuck is considered a manager who leads by example. Chuck operates not only on a strategic level but enjoys wrapping his arms around the details and in define the symptoms of problems those enabling the design of solutions that last.
Chuck LaMantia has a Bachelor of Science degree in Accounting, is a registered Certified Public Accountant and has a Masters in Business Administration in Finance from DePaul University.
Chief Operating Officer @ Responsibilities include Accounting, Claims, Underwriting and Strategic Planning. From June 2013 to Present (2 years 7 months) Chief Financial Officer @ From May 2008 to June 2013 (5 years 2 months) SVP - Global Controller @ TWG is a global provider of warranty & related services. Revenues $2B, Assets $5B, Equity $.6B. Team members in the finance department 68.
Reporting to CFO (1/07 to present)
Improvement in overall global control environment and on going development of transition related activities. January 1, 2007 represented the start of financial operations under new ownership;
• Financial reporting & general ledger system in place within 6 months from commencement
• Purchase price true-up resulting in return of $14M to investors
• Monthly closing process initiated March 2007
• FASB 141 (Business Combinations) analysis coordinated with outside assistance
• FASB 142 (Goodwill and Other Intangible Assets) completed with outside assistance
• Completion of “closing” balance sheet as of 11/30/06, opening balance sheet 12/1/06 and completion one month stand alone audited financial statements as of 12/31/06.
• Initiated & implemented a revised annual planning process with improved reporting From January 2007 to April 2008 (1 year 4 months) Chief Financial Officer @ Reporting to the President, Chief Operating Officer
A key member of the senior management team responsible for all aspects of financial reporting and control in a global organization. Most significant accomplishment is the participation and contribution related to the $720M sale of the business to a private equity firm. Initiatives included;
• Management and review of financial model related to the “carve-out” sale
• Support in the preparation of the offering memorandum materials
• Preparation, support and presentation to multiple potential acquirers
• Interaction with multiple due diligence teams and pre and post audit process
• Rating agency related to the procurement of debt rating and subsequent fulfillment of debt offering
• Management of a significant number of contracted resources providing specialized support throughout the divestiture process.
• Ongoing management of financial reporting as required by the then current parent From January 2005 to December 2006 (2 years) Controller @ Reporting to the Chief Financial Officer (6/04-12/04)
• Completion of the initial a nd follow up Sarbanes Oxley compliance initiative
• Redesign of the financial reporting process
• Significant improvement in the overall control environment From June 2004 to December 2004 (7 months) Treasurer @ Non standard auto insurance carrier concentrated in Chicago market with approximately $50M gross revenue. Total team members in the finance department 6.
Reporting to the President
• Statutory and GAAP financial reporting including annual statement
• Audit including actuarial review with loss triangles and schedule P
• Redesign financial close process from 11 days down to 5
• Strategic planning leadership including technology planning From May 2001 to June 2004 (3 years 2 months) VP - CFO, CIO CNA HealthPro @ Rptg to the President, HealthPro SBU
Med mal ins w/approx. $500M gross rev. Total finance, operations & systems team approx. 80. Resp. include mgmt of overall control environment.
• Implemented 5 year qtr by qtr forecasting model insuring consistency with strategic plans in addition to detailed operating & financial plans
• Leadership role for annual strategic plng process incldg presentation to senior mgmt & reconciliation with financial plans
• Participant in several potential acq. teams incldg leadership role responsible for the completion a $22.0M successful acq. in 90 days.
• Achieved targeted 3 point / $15.0M exp red. which incld SBU restructuring in addition to a reduction in headcount
• Presentation of qtrly operating results to senior mgmt incldg accelerated close schedule.
• Leader & active participant in leadership development initiatives.
• Redesigned the IT strategic process to more closely identify systems initiatives with business strategies & needs. From June 1996 to May 2001 (5 years) Vice President - Controller @ Reporting to the Chief Operating Officer Celtic Life Insurance Company (12/93-6/96)
Specialized in small group life and health insurance written through third party administrator and ultimately direct telemarketing team.
Restructuring from a product line based organization to a centralized environment including:
• Consolidation of four administrative and four financial reporting systems to one each.
• Implementation of Activity Based Management on a company wide basis.
• Design monthly reporting to include expense variance reporting and forecasting.
• Budget and eight quarter forecasting process revised to a more systematic, dynamic approach. From December 1993 to June 1996 (2 years 7 months) Vice President - Controller @ VICE PRESIDENT – CONTROLLER reporting to Executive Vice President
Small Group Health Division. (7/89-10/92) and Individual Health Division (10/92-12/93)
• Reviewing and approval of divisional statutory and GAAP financial statements.
• Coordinating the conversion of five divisional general ledgers to a centralized chart of accounts.
• Reviewing and approval of all divisional reinsurance agreements and reporting requirements.
• Preparing and reviewing budgets and profitability analysis for multiple product lines.
• Position required an immediate redesign of financial and management reporting processes. Results included a one time favorable benefit of $.8 M (10%) to pre-tax income.
• Financial models developed to project costs and breakeven targets of potential acquisitions.
• Participant on due diligence teams regarding potential acquisitions. From July 1989 to December 1993 (4 years 6 months) Accounting Manager @ Reporting to Vice President of Administration & Finance
Responsibilities included review and analysis of statutory and GAAP financial statements including consolidated reporting requirements. In addition, maintenance of computerized general ledger and analysis of investment portfolio with use of automated Schedule D system. From May 1986 to July 1989 (3 years 3 months) Accounting Supervisor @ Reporting to Vice President of Finance
Responsibilities for full accounting closing process which included setting of loss reserves, completion of statutory and GAAP annual and quarterly statements, preparation of applicable external schedules and coordinating year end audit work. From November 1984 to May 1986 (1 year 7 months) Staff Accountant @ STAFF ACCOUNTANT in the Financial Accounting Area
ACCOUNTANT in the Corporate Accounting Management Training Program From June 1981 to November 1984 (3 years 6 months)
MBA, Finance @ DePaul University - Charles H. Kellstadt Graduate School of Business From 1986 to 1988 BS, Accounting @ Elmhurst College From 1977 to 1981 Chuck LaMantia is skilled in: Insurance, General Insurance, Forecasting, Financial Accounting, Auditing, Financial Reporting, Strategic Financial Planning, GAAP, Budgets, Analysis, Finance, Variance Analysis, Corporate Finance, Financial Modeling, Due Diligence
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