Paula Warnstedt
Las Vegas,NV
Summary
Results-oriented Chief Financial Officer bringing over 20 years of experience including Financial Analysis, Internal Audit, Financial Controller and CFO . Strong history of achieving both financial and non-financial business goals with effective controls and planning. Feature on Era Women Leaders Magazine as top 10 Inspiring Women Leaders of 2023.
Overview
14
14
years of professional experience
Work History
Chief Financial Officer
Born and Raised
11.2016 - Current
- Prepare and oversee financial reports for multi-entity organizations including but not limited to budgets, P&Ls, and Balance Sheets to provide accurate and timely financial information to the owner
- Maintained full integrity of all revenues, ensuring organization policies and procedures, as well as state and federal laws and regulations, were followed
- Developed, implemented, and maintained financial policies and procedures to ensure the accuracy and integrity of financial data
- Followed and implemented proper internal controls and acted as the main point of contact for any external financial audits
- Managed the organization's cash flow, including overseeing accounts receivable and accounts payable
- Managed relationships with banks and other financial institutions
- Ensured compliance with local, state, gaming, and federal financial regulators
- Managed the Accounting, Financing, and Human Resources department staff, including hiring, training, and performance evaluations
- Collaborated with other departments to develop and implement financial plans that support the organization's strategic goals
- Managed the organization's insurance program, including property and casualty, liability, workers' compensation, and other types of insurance
- Applied for ERTC and secured additional funds for each of our locations affected by COVID-19
- Applied for the PPP loan during COVID-19 and secured millions of dollars for all our locations
CFO
Purple Whale Management
03.2013 - 11.2016
- Directed all accounting operations including AR, AP, GL, Payroll, and revenue recognition for 17 e-commerce businesses
- Developed an Inventory Control system that included fulfillment warehouse monthly audits and reconciliations
- Developed and prepared the financial forecast, budget, and other financial reports including cash flow, P&L statements, etc
- Developed and directed an Internal Quality Control team offering recommendations for improving and implementing new processes
- Worked with the company owner on developing the strategic vision of the company.
Internal Auditor
MGM Resorts International - Corporate Internal Audit
08.2010 - 12.2012
- Responsible for the planning and execution of financial, operational, and compliance / regulatory audits (SOX, GCB, Title 31) to assess the integrity of internal controls and conformance with company / departmental objectives and standards as well as governmental regulations
- Identify areas of potential risk, technical problems, and opportunities to improve the efficiency of company processes
- Facilitate a transfer of information and knowledge of best practices to mitigate risks and improve controls as identified during the course of an audit
- Prepare written reports that document and summarize audit recommendations, utilizing accurate and verified supporting data
- Train new auditors, providing direction and developmental recommendations while assuring business standards are being met.
- Enhanced internal control systems by conducting thorough risk assessments and implementing effective audit recommendations.
- Improved operational efficiency by identifying and addressing financial discrepancies through meticulous examination of financial records.
Financial Analyst
MGM Resorts International - Circus Circus Hotel & Casino
10.2009 - 08.2010
- Responsible for Financial forecast, budget, and other financial reports including cash flow, DOR's and P&L statements
- Presented monthly, quarterly, and annual results to internal and corporate management
- Reviewed company’s financial performance and reported daily, weekly, monthly quarterly, and annually
- Worked on evaluating current business policies and procedures and helped implement changes to increase efficiency and profitability.
- Streamlined financial reporting for better decision-making with clear, concise analysis and presentation.
Education
MBA - Master of Business Administration -
University of Phoenix
BA – Bachelor of Science Accounting -
University of Phoenix
Skills
- Budget Development
- Documentation Compliance
- Quantitative Analysis
- Fiscal Management
- Accounting Principles
- Infrastructure Planning
- Financial Reporting
- Operational Management
- Cash Flow Management
- Regulatory Requirements
- Financial Management
- Business Forecasting
- Operational Decision Making
Continuing Education
- The Seven Deadly Sins of Report Writing
- Auditing the Control Environment
- Proposed Changes to International Standards
- Positioning Your Audit Shop for Success.
Timeline
Chief Financial Officer
Born and Raised
11.2016 - Current
CFO
Purple Whale Management
03.2013 - 11.2016
Internal Auditor
MGM Resorts International - Corporate Internal Audit
08.2010 - 12.2012
Financial Analyst
MGM Resorts International - Circus Circus Hotel & Casino
10.2009 - 08.2010
MBA - Master of Business Administration -
University of Phoenix
BA – Bachelor of Science Accounting -
University of Phoenix
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