Michael Ambolo Jr

• Successfully managed a total budget of $8.6 billion, achieving a 15% increase over the previous year, within the 4th largest county in California, serving 2.4 million residents, and overseeing 40+ departments and 27,000+ full-time employees (FTE)
• Chair of the Finance Portfolio with comprehensive oversight and operational accountability for various critical areas, including: Countywide Budget, Countywide Finance and Debt Operations, Assessor-Clerk Recorder, Audit-Controller, and Treasurer-Tax Collector
• Promoted the creation and evolution of the county's inaugural Five-Year Strategic Financial Plan (SFP), providing a robust roadmap for fiscal growth and sustainability
• Additionally, established the County's first-ever Capital Improvement Plan (CIP), ensuring optimized allocation of resources for vital infrastructure projects
• Revitalized financial and operational policies, resulting in a fortified Balance Sheet and enhanced compliance across the organization
• These improvements led to notable enhancements in improved credit ratings, reflecting the county's improved financial health
• Demonstrated a proactive approach to revenue generation through the implementation of LEAN operations, resulting in strategic cost-cutting measures that effectively countered declining revenue streams
• Initiated ordinance revisions that modernized policies, effectively freeing up cash restrictions and enabling more flexible financial management
• Strategically identified and capitalized on smart investment opportunities that delivered a notable Return on Investment (ROI), further mitigating the impact of diminishing revenue sources
• These efforts showcased a capacity for innovative financial solutions
• Catalyzed an initiative to build a substantial safety stock of reserve balances, significantly increasing reserves from $200+ million to an unprecedented high of $500+ million
• Planned further financial engineering measures to elevate the reserve limit beyond $800 million, ensuring the county's long-term stability.

• All Bureau of Finance-wide operational initiatives
• The bureau consists of various core process segments
• Commanding an Annual Budget of $6.92 billion, ensuring continued services to over 5.2 million residents
• Commodities and services throughout the expansive Procurement department
• Finance and accounting system functions (ERP-Oracle EBS, Power BI, Polaris) that oversee tax, AP/AR, Payroll for over 21,000+ FTEs (Union and Non-Union), annual reporting, audit controls, accounting strategy with actionable administration through the comptroller's office
• Budget office operations, including annual performance/zero-based budgeting, governance policy, and appropriation control
• Risk management with benefits assignment and a self-insurance fund with a balance of over $400 million
• Financial oversight, including capital improvement (CIP) and equipment (CEP) planning of roughly $500+ million, financial analytics using complex statistical methods leveraging econometric data, revenue and expense forecasting 1-,3-,5-year trend analysis, economic/risk analysis with mitigation strategy and asset marketing campaigns
• Advisor to the President and 17-member Board of Commissioners, various steering committee appointments, development of County debt profile with a credit rating of A2, A+, A+ with portfolio management of over $3 billion with Home-Rule Authority
• Guided efforts including debt management, administering the Countywide Asset Marketing Program and Independent Revenue Forecasting Commission, managing investor relations, and directing eligible funds' investment
• Ensured the County's fiscal affairs were managed using best-in-class public finance practices with an eye toward budgetary stability by assisting the implementation of quantitative expertise and principles of project management to support all departments under the Bureau of Finance
• Engineered efforts to implement a comprehensive system to verify eligibility and distribute over $400 million in federal coronavirus relief aid to over 400 separate entities, including local governments across Cook County
• Provided managerial expertise to streamline day-to-day efforts of the Bureau of Finance and its numerous departments
• These departments include Revenue, Risk Management, Budget and Management Services, Comptroller, Contract Compliance, and Procurement.

• Oversight of a $230+ million operating budget consisting of various funding sources (Municipal Bond, Menu Funds, Corporate, Grant, and Enterprise)
• Administer direct oversight to accounts receivable/payable and payroll functions as well as total responsibility for all financial records/general ledger systems
• Facilitate tax planning, audit review and ensures financial reporting complies with GAAP (other regulatory authorities)
• Advise/Liaise with the Executive Director, Managing Deputies, and ancillary staff, including the Mayor's office
• Oversaw 11 business units with signature authority of all cash disbursements, standard purchase orders/requisitions, payment vouchers, invoices, and funding strip reprogramming
• Governance of payroll operations with 2,400+ union & non-union employees, on-site and remote.

Accomplished corporate executive with a decade of experience in Higher Ed leadership. Successfully designed and managed student account and business office functions across a network of 80+ campuses, supervising a team of 70 employees with seven direct reports. Demonstrated skill in driving collections of up to $100 million in monthly cash receipts, while ensuring compliance through subcommittee leadership and assessments. Proficient in enhancing operations, collaborating with QA analysts on audits, and drafting operational documentation for improvements.

• Utilized Six Sigma to revamp compliance, acknowledged as the future of central processing
• Elevated cash collections by 40%, lowering past due collections by 30%
• Established accounting liaison unit, boosting reconciliation efficiency by 60% and issue resolution by 40%
• Championed $100K-cost-saving alternative loan program
• Implemented process enhancements, increasing productivity and reducing headcount
• Secured $40-$60 million for future revenue needs
• Restructured corporate loan program, reducing risk and enhancing terms
• Enhanced cash collections by 10-30%, raised co-signed applications by 20-50%, and lowered repayment terms by 20-45% to mitigate risk