MICHAEL VEKASSY
Brooklyn,NY
Summary
A problem-solving treasury/finance operations manager with in-depth expertise in the fields of financial systems, project management, budgeting & forecasting, account reconciliation management, capital analysis, ratings agency relations, management reporting, and SEC reporting. A director of people and resources with a proven ability to manage multiple large-scale international projects simultaneously and to manage teams of financial professionals to achieve efficiencies and bottom-line results. A competent manager of resources in a matrix environment. A leader comfortable working in a constantly evolving corporate structure.
Overview
23
23
years of professional experience
1
1
Certification
Work History
President, Board of Directors
ST. GEORGE TOWER & GRILL OWNERS CORP.
04.2015 - 04.2022
- Served as board president of a 277-unit non-profit cooperative housing corporation with 490 residents, 13 full-time employees, and a $6.7M annual operating budget
- The landmarked buildings just completed a $5.2M capital project to restore the façades, tower, and terraces, for which I coordinated the activities of the architects, contractors, Department of Buildings, Landmarks Preservation Commission, and site safety
- I recently managed an elevator modernization project, a project to build-out the 29th & 30th floors for future residential occupancy, a roofing/parapet replacement project, a redesign of the building’s compactor room, and a 24-floor hallway renovation Also just negotiated a 25-year lease on 76,000 sq ft of commercial space.
Treasury Services Project Manager (Consultant)
JPMORGAN CHASE
05.2012 - 01.2015
- Acted as project manager for several Treasury Services technology-related initiatives, including client onboarding with regard to legacy system retirements and a court-mandated KYC screening process at the clients’ employees’ level.
Director, Corporate Financial Planning & Analysis
AIG COMMERCIAL INSURANCE
07.2009 - 05.2012
- Managed the development of budgeting, forecasting, operating plan and reporting tools, as well as their consolidation at the corporate level, for a company with $9B quarterly revenues and $48B in reserves
- Successfully merged two independent FP&A areas into a single global financial operation
- Built and strengthened relationships across the organization to deliver results and improve insights into how these functions should be structured and perform, with the intent to restructure them to reflect parent company AIG’s changing operating model
- Redesigned procedures for consolidation and production of 10Q, 10K, and Financial Supplement documents to increase automation, efficiency, and accuracy as well as ensure Sarbanes-Oxley compliance
- Designed key performance indicator (loss ratio, expense ratio, new business, retention ratio) trend analyses by major & minor lines of business for management & parent company review
- Developed a competitor analysis review for senior management with an emphasis on peer companies’ statutory surplus and risk-based capital filings
- Redesigned all levels of reporting (financial, management, and SEC) as the company shifted from a geographic to a product-based management structure in the third quarter 2011 reporting cycle.
Manager, Economic Capital & Ratings Agency Projects
AIG COMMERCIAL INSURANCE
01.2008 - 07.2009
- Teamed with subsidiary Presidents and CFOs to determine how best to apply internally developed economic capital models to their specific business units
- Also coordinated the actuarial effort to adapt the models to the intricacies of the subsidiary businesses
- Assisted the VP of Ratings Agency Relations in compiling and consolidating statistics relevant to the company’s quarterly and historical performance for quarterly ratings agency reviews & annual survey submissions.
Proprietor & Executive Treasury/Finance Consultant
PYRRHUS ASSOCIATES
11.2004 - 01.2008
- Sole-proprietor of a consulting firm that performed various Treasury-related activities for clients
- Major projects included: Project manager responsible for Bank of NY to JPMorgan Chase post-merger treasury systems integration, ensuring the successful migration of a $92M annual income stream to the Bank’s existing client base
- Performed the complete reconstruction of a problematic escrow account with $300M monthly cash flows and a sub-ledger to general ledger audit for Mendes & Mount, LLP, a mid-size New York law firm
- Organized first time filing and remittance of unclaimed property, including amnesty declarations, to 29 reporting jurisdictions for Parsons Brinckerhoff, a global engineering services firm headquartered in Manhattan.
Treasury Operations Manager
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
05.1999 - 11.2004
- Managed a staff of 10 financial professionals with accounting, capital analysis, and treasury-related responsibilities
- Audited and approved the monthly reconciliation of 130 cash and suspense accounts
- Managed the abandoned property (escheat) process, including the preparation and mailing of all owner notifications, State reporting requirements and remittances
- Prepared risk-based capital analyses and dividend versus capital injection recommendations to the CFO for seven subsidiaries of Guardian.
Education
Master of Business Administration -
Adelphi University
BA in Behavioral Science -
St. Joseph’s College
Advanced Professional Certificate in Economics -
St. John’s University
Certificate of Advanced Graduate Study in Financial Management -
Pace University
Certificate in Local Area Network Management -
New York University
Skills
- Effective Leadership
- Innovation Fostering
- Organizational Management
- Strategic Visioning
Professional Designations
- Certified Treasury Professional
- Chartered Life Underwriter
- Associate in Insurance Accounting and Finance
- Fellow, Life Management Institute
- Notary Public, State of New York
Certification
- Fellow, Life Management Institute, Life Office Management Association
- Chartered Life Underwriter (CLU), The American College, Renews 12/31/2024
- Certified Treasury Professional, Association for Financial Professionals - Renews 6/30/2028
Timeline
President, Board of Directors
ST. GEORGE TOWER & GRILL OWNERS CORP.
04.2015 - 04.2022
Treasury Services Project Manager (Consultant)
JPMORGAN CHASE
05.2012 - 01.2015
Director, Corporate Financial Planning & Analysis
AIG COMMERCIAL INSURANCE
07.2009 - 05.2012
Manager, Economic Capital & Ratings Agency Projects
AIG COMMERCIAL INSURANCE
01.2008 - 07.2009
Proprietor & Executive Treasury/Finance Consultant
PYRRHUS ASSOCIATES
11.2004 - 01.2008
Treasury Operations Manager
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
05.1999 - 11.2004
Master of Business Administration -
Adelphi University
BA in Behavioral Science -
St. Joseph’s College
Advanced Professional Certificate in Economics -
St. John’s University
Certificate of Advanced Graduate Study in Financial Management -
Pace University
Certificate in Local Area Network Management -
New York University
- Fellow, Life Management Institute, Life Office Management Association
- Chartered Life Underwriter (CLU), The American College, Renews 12/31/2024
- Certified Treasury Professional, Association for Financial Professionals - Renews 6/30/2028
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