Michael Rakes
Minneapolis,MN
Summary
Experienced Finance Executive with a strong entrepreneurial background spanning 19 years. Developed Philia Foods from concept to retail presence in over 1,000 stores, culminating in a successful acquisition by Land O'Lakes, Inc. As VP of Finance at Wicked Kitchen, facilitated growth strategy and secured over $20M in funding for global expansion. Currently serves as a fractional CFO and consultant for various CPG brands and non-profit organizations.
Overview
19
19
years of professional experience
Work History
CEO
MCR Group LLC
Minneapolis, MN
05.2015 - Current
- Founder of a financial consulting practice supporting high potential CPG start-ups and non-profit organizations.
- Serve as fractional CFO for multiple businesses, owning the general ledger, monthly financial reporting, cash management, bill pay, insurance, and payroll functions.
- Own all aspects of financial forecasting and modeling for internal decision making and investor and board presentations.
- Integrate as key member of multiple leadership teams to drive strategy and decision making.
- Oversaw financial management, budgeting, and resource allocation processes.
VP of Finance
Wicked Kitchen
Minneapolis, MN
08.2020 - 09.2023
- Owned all aspects of the financial operations of Wicked Foods including: monthly reporting, general ledger, monthly reporting, cash flow analysis, and investor relations.
- Managed team of 3 accounting and finance employees, creating a positive working culture built on transparency, accountability and effective communication.
- Worked with Founders, CEO and leadership team to support capital raises and shape the company's growth strategy.
Senior Accountant I & II
University of Minnesota
Minneapolis, MN
11.2009 - 07.2014
- Managed relationships with department chairs and administrators, and effectively communicated financial results to departments and professors.
- Produced clear and informative financial reports to chairs, doctors, and professors.
- Partnered with the University of Minnesota Foundation and Sponsored Projects Administration to perform all critical departmental foundation and grant accounting functions.
- Served the University of Minnesota through participation on the Financial System Users Network board.
Staff Auditor
Ernst & Young
Minneapolis, MN
07.2006 - 08.2008
- Analyzed complex accounting records and business processes to determine financial risk and status of Ernst & Young clients
- Adapted and thrived in a constantly changing, fast paced and complex business environment.
- Developed and implemented testing plans to detect and mitigate risk
Education
MBA - Finance, Entrepreneurship
University of MN - Carlson School of Management
Minneapolis, MN05-2013
Bachelor of Arts - Accounting, Music
Saint John's University
Collegeville, MN05-2006
Skills
- Financial reporting
- Team leadership
- Fund Accounting
- Financial forecasting
- Cash management
- Budgeting processes
- Resource allocation
- Capital allocation
- Financial Modeling
- Payroll & HR
- General Ledger Ownership
- Risk analysis
- GAAP Implementation
Accomplishments
Greek America's 40-under-49
Affiliations
Volunteer, St. Mary's Greek Orthodox Church, Parish Council Treasurer
References
References available upon request.
Timeline
VP of Finance
Wicked Kitchen
08.2020 - 09.2023
CEO
MCR Group LLC
05.2015 - Current
Senior Accountant I & II
University of Minnesota
11.2009 - 07.2014
Staff Auditor
Ernst & Young
07.2006 - 08.2008
MBA - Finance, Entrepreneurship
University of MN - Carlson School of Management
Bachelor of Arts - Accounting, Music
Saint John's University