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Peter K. Studner Associates, Inc.
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Chief Financial Officer
10.463.J.08

A versatile healthcare professional with 16 years of progressively increasing responsibilities in providing operations, finance and accounting leadership for two major continuing care retirement communities with 4,300 full-time residents. Oversaw day-to-day operations, exterior relations, finance, accounting, staffing, human relations and strategic planning with a staff of 1,940.

Expertise includes outstanding accounting, contract management, facilities management, recruitment, compliance and interpersonal relations skills.

EXPERIENCE

Brethren Hillcrest Homes, La Verne, California                                                                                   1997-2008

Chief Financial Officer/Vice President

Managed all financial and accounting operations for an accredited continuing care retirement community with 400 residents and an operating budget of $12 million. Oversaw financial planning, policies, accounting practices, risk management, corporate compliance and information technology, as well as relationships with financial institutions, residents, committees and the Board of Directors.

  • Supervised borrowing from financial institutions, including a $1.5 million line of credit, a $47 million financing bond and multiple swap agreements.

  • Maintained construction documentation with a budget of $34 million for a campus renovation completed in 2008.

  • Selected and implemented a new accounting software, Answers on Demand, without any interruption of services. Implemented Health Insurance Portability and Accountability Act (HIPAA) compliance.

  • Assisted in the formation of two innovative captive insurance programs for liability coverage and workers’ compensation.

  • Reviewed, edited and approved all contracts for senior management.

  • Participated on the management team in assisting the President to plan and coordinate departmental activities concerning operations, facilities, finances and formulation of policies.

  • Developed and implemented the organization’s financial plan for its three- and five-year strategic plans.

  • Ensured compliance with federal, state and local regulations.

  • Developed and monitored the annual budget and provided each department with financial management tools for controlling expenses and planning. Prepared cash flow projections and monthly comparison statistics for operations.

  • Maintained accounting records and supervised withdrawals from the organization’s $10 million investment fund.

  • Oversaw reconciliations and payroll operations, including payroll transfers as well as federal and state reports.

Covenant Retirement Communities, Chicago, Illinois                                                                          1992-1996

Director of Accounting

Managed accounting operations for Covenant, which provided housing for 3,900 residents through a network of continuing care retirement communities and healthcare facilities. The combined assets were $227 million and was managed by 1,700 staff.

  • Supervised a staff of 19 accountants that included 14 field locations in seven states.

  • Provided monthly financial and management reporting.

  • Supervised the completion of annual audits by Deloitte & Touche.

  • Supervised and assisted in the centralized management of accounts payable, cash management, investments and payroll.

  • Participated in resolving field issues, and performed audits of accounting and management information.

  • Maintained and monitored regulatory debt compliance.

  • Supervised preparation and filing of internal revenue service returns, workers’ compensation insurance, annual Medicare and Medicaid filing, and payroll reporting.

  • Participated in management issues, including contractual healthcare services for residents, financing, planning, third party reimbursements, investments and contract negotiations.

  • Participated in master indenture financing in California and Colorado for $24 million each.

  • Managed debt compliance for $150 million of debt placed through six state authorities, private placement and bank institutions.

  • Assisted in software development of a pre-release accounting program that took into account all needs of continuing care retirement communities. This software became the popular Answers on Demand product.

  • Revised financial statements to comply with the Financial Accounting Standards Board.

  • Provided accounting support to control $48 million in construction financing at five facilities.

International Bible Society, Colorado Springs, Colorado                                                                    1985-1991

Vice President/Treasurer

Functioned as Chief Operating Officer for human resources, warehousing, distribution, accounting and mail services for a non-profit, $19 million publishing company, which distributed bibles around the world. Reported to the President and the Board of Directors. International Bible Society is the translation sponsor of the New International Version of the Holy Scriptures.

  • Provided banking relations, budgeting, cash management, reporting, audit coordination, and federal and state tax compliance.

  • Supervised national and international contractual relations concerning publication licenses, rights and permissions as well as information technology, procurement and software development.

  • Coordinated a national relocation study that resulted in the organization’s relocation from New Jersey to Colorado Springs without loss of services.

  • Supervised the development and implementation of an integrated computerized accounting system.

  • Developed an efficient warehouse fulfillment system, including racking, retrieval and bar code shipping.

  • Managed the design and construction of a new 50,000 square-foot warehouse facility completed within five months, including offices and furnishings.

Christian and Missionary Alliance, Colorado Springs, Colorado                                                         1975-1985

Director of Accounting

Supervised accounting, records and finance for an international denomination with headquarters in Colorado Springs, Colorado.

  • Managed a $25 million investment/secured lending fund for the benefit of denominational churches.

  • Supervised the financial operations of the Missionary’s retirement/skilled care facility in California.

  • Developed a uniform accounting manual for district offices.

PRIOR EXPERIENCE

Began career as a CPA candidate with Arthur Young and Company as well as Stephen P. Rodics and Company, consulting and supervising audits, tax preparation, and management information services. Clients included banks, savings and loans associations, manufacturers, not-for-profit organizations and engineering firms.

EDUCATION

Upsala College, East Orange, New Jersey

Bachelor of Arts, Accounting

CERTIFICATION

Certified Public Accountant

AFFILIATIONS

American Institute of Certified Public Accountants
Claremont (California) Sunrise Rotary
La Verne Heights Presbyterian Church of La Verne, California, Elder

PAST AFFILIATIONS

Steering Committee for the Colorado Springs Economic Development Council
Accounting Taskforce responsible for editing “Accounting and Financial Reporting Guide for Mission Organizations” (1984-1985 published by Interdenominational Foreign Mission Association), Christian Management Associations

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Copyrighted © Peter K. Studner 1997-2006
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Los Angeles - Burbank - Westlake Village - Irvine
Mailing Address: P.O. Box 241957, West Los Angeles, California 90024-9757
(310) 470-6688 - FAX (3