- Led all back-office investment operation functions including securities and derivative accounting and operational functions for $125B of fixed income securities for a group of insurance companies. In addition, directed settlement and custodial bank activities, process improvement initiatives, and ensured ongoing financial and operational compliance.
Leadership
- AEGON Downsizing Approach and Strategy – involved my direct report managers to determine the bottom twenty-five talent by looking at performance/potential/versatility. One level above the immediate manager delivered the messages – no lawsuits because of the significant downsizing.
Leveraging Technological Solutions
- Supported implementation of enhancements to the PAS derivative accounting system and PAM investment accounting system at AEGON.
- Sponsored system changes needed to effectively implement a One Day Close to support timing needed for financial reporting for Dutch parent company. IFRS driven – to meet the monthly reporting deadlines from the Hague. What do we need to do this and went backwards – determined system, process, and people changes needed.
Compliance and Balanced Scorecards
- Ensured compliance with SOX requirements. Created the initial SOX documents and ensured review and updates performed at least quarterly and whenever we implemented system changes.
- Established a balanced scorecard with Operations and Finance to ensure alignment and common goals.
Mentoring and Coaching
- Worked with HR to improve the managerial effectiveness of leaders at AEGON. These managers were previously technical experts. This helped to improve employee engagement and ensured more frequent and structured conversations with associates.
- Actively participated in the creation of a “Coaching and Mentoring” program at AEGON. Served as a formal and informal mentor for managers and staff throughout the company.
Team Selection and Development
- Developed strong talent and deepened bench strength for the department, which grew from sixty-five to over one hundred staff in 3 years.
- Transformed culture and reputation of the group which became known for agility, efficiency, positive work environment and become the model for organizational effectiveness.
Continuous Improvement
- Led the initiative to bring the AEGON investment accounting to Cedar Rapids from Toronto to increase accuracy and efficiency. Cash Accounting to RBC, Investment Accounting to Cedar Rapids. Three-way project. Traveled to Toronto for 3 days a week for 8 months. Brought resources to document the processes when AEGON Toronto was not cooperating.
- Led the initiative to reduce investment accounting system close cycle from 5 days to 1 day through process re-engineering of forty-five sub-processes. Timing for processes changed as well as processes were eliminated or streamlined.