JERRY LEWIS STEPHENSON, MST
Accountant
Fredericksburg,VA
Summary
Talented versatile, innovative and loyal Senior Finance Professional with multifaceted experience in tax planning, research and preparation. First Accountant in the history of the Massachusetts Comptroller's Office to prepare all indirect cost proposals before the beginning of any Fiscal Year. Independently prepared all indirect cost proposals as the subject matter expert without the assistance of a designated Consulting Firm. This effort saved the office $200,000 per year for four consecutive years while I assumed the responsibilities of the manager of Federal Grants and Cost Allocation upon their retirement. Life long learner with the ability to lead and follow direction. Qualified by educational training in: Intellectual Property Tax, Professional Tax Practice, International Taxation, Trust, Gifts, and Estates Taxation, Federal Taxation of Income, Federal Taxation of Income from Trust and Estates, Multi-Jurisdictional Taxation, Corporate Taxation, Negotiations and Team Collaboration.
Overview
36
36
years of professional experience
Work History
Senior Government Accountant
Massachusetts Office of the Comptroller
12.2000 - 04.2022
- Managed the preparation and negotiation of the indirect cost rates for federal reimbursement. Calculated program support costs, and determined allocations. Developed rate calculations, and submitted negotiated agreements in Accordance with OMB-A87 and Generally Accepted Accounting Principles (GAAP)
- Collaborated with Chief Financial Officers and department heads to ensure a clear understanding of the issues and implications of indirect rate development for reimbursement
- Gathered and analyzed financial data and research program organizations to verify completeness and accuracy in determining eligible costs that benefited department direct programs
- Developed calculation methods, data collection protocols and communication processes, to make certain relevant and critical information. The information is communicated, gathered, properly processed and communicated to all department heads once funding rates were fully negotiated
- Submitted and negotiated reimbursements resulting in up to $40M to general fund revenue annually
- Actively assisted the Unit and Bureau Leadership as the subject matter expert on indirect cost rates with cross training, knowledge transfer, disaster recovery, risk assessment and internal control review
- Contributed with the development of fringe benefit and payroll tax rates, worked closely with teams implementing new financial systems and served on the IT Finance Committee with external consultants
- Communicated with the Bureau of Fiscal Service and Treasury Offset Program Officials in gathering data and research to reconcile issues related to debt
- Tasked with providing monthly revenue actuals for cash flow spreadsheets utilized by the Office of Administration and Finance (ANF) and the Treasurer's Office (TRE) while monitoring the reconciliation regarding the clearing of the revenue sweep account for all State Agencies
Assistant Financial Officer
Capital Community Technical College
08.1998 - 01.1999
- Performed technical accounting analysis including budget development, financial reporting, and variance analysis on actual versus budget projections
- Prepared budget request for the Governor and Legislature, while managing the accounting approval process, and advising the community colleges regarding proper accounting and financial transactions, in up to $100M through the banner general ledger accounting system
Business Consultant
Contractual Consultation
01.1991 - 08.1998
- Analyzed customer financial stability and corporate balance sheets, restructured debt and investment portfolios, evaluated client business plans and analyzed the efficiency of financial operating systems
- Developed cash flow forecast projections to aid clients with decision support capabilities to assist them in designing complex business solutions while considering tax consequences
- Counseled clients with a comprehensive overview of the analysis process and the tools used to implement strategies such as asset alignment, cash management and how financial instruments interact
- Provided accounting system expertise in the development and implementation of the net asset value automated accounting system for the Travelers Insurance Corporation
Internal Auditor
Defense Contract Audit Agency (DCAA)
01.1990 - 06.1990
- Detected inconsistent accounting treatment and recommended system enhancements and reporting on the effectiveness of internal controls to management
- Prepared written audit reports consistent with GAAP principals, Federal Acquisition Regulations, Cost Accounting Standards, and the Defense Contract Audit Manual
- Reviewed, verified, and analyzed system configurations, records, reports and procedures for accuracy and lead system audits with the goal of improving the efficiency and effectiveness of the audit role
Senior Investment Accounting Analyst
Aetna Life and Casualty Insurance Company
09.1986 - 01.1990
- Tasked with providing accrual accounting analysis and statutory financial statement preparation on investment pension fund separate account portfolios
- Collaborated with internal and external auditors for review and test of financial data
- Researched variances, prepared pension fund market valuations on a monthly, quarterly and annual basis on asset/income reports. Verified settlements of stock and bond transactions, investigated dividends and interest income to ensure accuracy in calculation,using comparative reasonability analysis
- Worked with management and collaborated with Mckinsey & Company to provide accounting system advice in the implementation of an automated accounting system to support $5B in pension fund assets under management
- Managed multiple simultaneous projects, ensuring timely completion and accurate results in a fast-paced environment.
- Enhanced financial accuracy by conducting thorough analysis and reconciliation of accounts.
Education
Master of Science - Taxation
Bentley University
Waltham, Massachusetts05.2018
Bachelor of Science - Business Administration With A Minor in Accounting
Saint Augustine's University
Raleigh, North Carolina05.1986
Skills
- Microsoft Office
- Accounting
- Account Reconciliation
- Client Confidentiality
- Tax Preparation
- Financial Analysis
- MS Office Suite
- Cost accounting
- Financial Auditing
- Variance Analysis
- GAAP Accounting
- Budget Forecasting
Community Leadership
- Volunteer Income Tax Assistance (VITA volunteer)
- Bentley Business Bowl Judge
- Business Conference CPE Chair
- Aetna Saturday Academy Volunteer
- Governor's Serve Initiative
- Junior Achievement Job Shadow Mentor
- Director, Scholarship Committee
- Fredericksburg Public Schools (Substitute Teacher)
Interests
Playing golf, traveling and mentoring students
Timeline
Senior Government Accountant
Massachusetts Office of the Comptroller
12.2000 - 04.2022
Assistant Financial Officer
Capital Community Technical College
08.1998 - 01.1999
Business Consultant
Contractual Consultation
01.1991 - 08.1998
Internal Auditor
Defense Contract Audit Agency (DCAA)
01.1990 - 06.1990
Senior Investment Accounting Analyst
Aetna Life and Casualty Insurance Company
09.1986 - 01.1990
Master of Science - Taxation
Bentley University
Bachelor of Science - Business Administration With A Minor in Accounting
Saint Augustine's University