Bernard Wesselman

Experienced in corporate, public accounting and third-party administration settings, I manage the design, implementation, and administration of various processes. Most recently accomplished the implementation of the lease accounting sub-ledger and integration of the fixed asset sub-ledger. I am proficient in general ledger accounting, as well as operational activities.

• Previously held Certified Internal Auditor
• Previously held Qualified 401K Administrator
• Previously held licenses in Life/Health/Property/Casualty insurance and Securities Series 6 and 63

• Implemented and maintain lease accounting and reporting processes. With Advent of ASC842 Accounting for Leases, collaborated with interdepartmental team to implement sub-ledger systems and processes to account for expense leases (intercompany/third party) and set up an AR process for income leases.
• Implemented and maintain fixed asset and capital expenditure reporting processes.
• Managed relationship with outside inventory company to validate asset ledger on an ongoing basis.
• Built successful retirement plan administration business. Burke & Schindler had entered the retirement plan administration business but had only achieved fifteen clients in 5 years. Recruited to expand the practice. Rebuilt business model, set up processes/procedures and deployed marketing program. Built business from 15 to 150 clients, managing two staff members.
• Developed personalized retirement plans. A small business owner/client of Burke & Schindler with ten employees wanted to defer as much income tax for himself as possible. Analyzed data and designed an effective plan, resulting in $30K tax savings to the owner, while funding $54K to his own accounts.
• Revamped 401K program and identified new lower cost 401K provider. US Shoe Corporation had frozen its 401K plan due to lack of participation. Part of team that moved plan to a daily processing platform, restoring employees’ faith. Increased participation 900% and enabled more executives to participate. As daily processing of 401K transactions became more common, associated costs of third-party providers decreased. Guided new proposal for ERP process to ensure US Shoe Corp had the best product at the lowest cost. Identified and moved plan to a cheaper provider, saving $40K/year.
• Improved 401K plan, increasing client retention and profitability. Fifth Third Bank’s participant record keeping system was outdated quarterly accounting. Converted clients’ 401K plans to a daily record keeping system. Reduced inefficiencies and inaccuracies, while enhancing client reporting and satisfaction.

• Eagle Scout
• Member of American Institute of Certified Public Accountants
• Serve on BSA Scout Troop 8 Steering Committe