Peter Ofori-Nuamah
SILVER SPRING,MD.
Summary
VP Finance * CFO *Chief Compliance Officer * Country Director
Principal Consultant, Grants\Contracts and Financial Management helping companies translate their Business Goals to Reality. A visionary, dedicated, celebrated certified chartered accountant and executive in business management and finance with an unparalleled history of success spanning over 25 years in program management and operations in international economic development for the US Government and global multi-million-dollar grants partnership organizations.
Overview
26
26
years of professional experience
1
1
Certification
Work History
Financial Management Consultant
US General Services Administration,
02.2014 - 06.2015
- U.S federal government’s Financial Management Line of Business, FMLoB) – WASHINGTON, DC
- Consulted on projects to improve cost, quality, and performance of financial management systems by leveraging shared service solutions and implementing other government-wide reforms that foster efficiencies in federal financial operations in accordance with US Generally Accepted Accounting Principles (US GAAP) and Federal Travel Regulation.
- Adjusted financial management system to be accurate and productive.
- Assisted with the design of financial management system to be compatible with US GAAP requirements.
- Established internal audit procedures to validate and improve the accuracy of financial reporting.
- Implemented and regularly reviewed financial controls to generate accurate and reliable financial data.
Global Controller
JP Morgan Chase Vestera
01.2011 - 12.2013
- Managed a team of 50 global finance associates and developed, monitored, and administered international tax policies, operating budgets, financial reporting, economic forecasting, financial product development, and cash management operations in Eight (8) European countries for the company.
- Managed daily financial functions in collaboration with accounting and payroll personnel.
- Prepared and filed tax returns and generated monthly reports in compliance with regulatory and organizational standards.
- Prepared corporate finance and business plans to help strategically direct business operations and strengthen controls.
- Created and distributed reports on internal and external finances, audits, and budgets.
Director, Business and Economic Dev. Finance
Department Of Housing And Community Development
11.1999 - 03.2001
- Transferred with promotion to provide insight, leadership, and direction for the future economic growth of the capital city, Washington DC
- Headed the Mayor’s city gateway projects and affordable housing development in the District of Columbia and managed a $2.5 billion affordable housing development fund which resulted in 25% homeownership for first-time homeowners
- Managed and supervised the Office of Economic Development (DHCD) budget of over $450 million annually and staff of fifty-person (50) team of professional economics and financial staff, achieved 25% small business setups, and 10% job growth for two successive years
- Assisted the Government of the District of Columbia in developing contracts and procurement fiscal policy framework and instituted policies oriented toward increasing transparency of public spending and delivery of essential services which lowed our risk level from 19% to 2.5%
- Chaired the contract and procurement committee for capital development programs and acquired funding of $2.5 billion
- Restructured and provided strategic vision for the design and implementation of D.C Government poverty reduction and economic development programs
- Planned, and managed comprehensive Capital development programs, including non-competitive federal; local government, and private sector cooperative agreements and contracts on the D.C Gateway Projects and Public-Private Partnership (PPP) Framework
- Managed the city's federally funded Housing Development Trust Fund, Small Business Equity Funds, and Community Development Block Grant (CDBG) program and liaised with the D.C. Council.
- Achieved 25% new business setups, and reduced unemployment by 16%
- Managed and implemented the city’s portfolio of debt and equity joint venture partnership investments of more than $1.4 billion in affordable housing development
- Achieved a 27.5% increase in the city’s affordable housing stock and homeownership for low- and medium-income families in the District of Columbia
- Acquired funding of more than $2.5 billion by nurturing investors, investment bankers, and strategic partners in an affordable housing development in the District of Columbia
- Increased small businesses and setup successes by 25% and 10% job growth in two successive years.
- Worked closely with organizational leadership and the board of directors to guide operational strategy.
- Spearheaded innovative approaches to resource allocation and strategic planning.
- Monitored and coordinated workflows to optimize resources.
- Formed strategic partnerships and connections with potential clients to drive business development.
Manager, Financial Operation
DC Housing Authority
11.1996 - 06.1999
- Recruited to assist a court-appointed receiver with a four-years mandate to restore affordable housing services and provided insight, leadership, and direction for future community development growth to residents of the District of Columbia
- Restored the DC Housing Authority to independent authority in 2 years
- Managed the financial administration of the District of Columbia government congressional earmarked Comprehensive Community Development Block Grants and multi-million annual Capital Development Grants for Affordable Housing development
- Coordinated with agency heads and budget officers on the development and submissions of program budgets and analyzed the agency’s use of federal grants which resulted in the release of previously rejected and withheld requisitions of $12 million
- Developed financial models and forecasts; analyzed actual spending versus budget; managed reporting tools to support executive decision-making and served as a resource point of contact for grants and program finance
- Supervised the agency’s financial staff involved, a combination of professional, technical, administrative, IT, and clerical positions
- Developed a financial reporting platform and controls matrix by GAAP, FAS, and federal grants compliance requirements, ensured overall regulatory compliance (through liaison with internal and external auditors), reduction in risk exposure, and sound operations of the agency
- Restored over 2550 housing units through program reorganization and recouped $12 million previously disallowed cost and double payments by the Federal government
- Transformed the troubled agency and redeemed it from receivership to independent status through integrated financial reporting, budgeting, and strategic planning
- Restored, increased, and optimized the agency’s cash reserve by over 55 million dollars in 3 years and maximized cash flow.
- Planned and budgeted accurately to provide business with resources needed to operate smoothly.
- Negotiated contracts with vendors and suppliers to obtain the best pricing and terms.
- Supervised operational staff and kept employees are compliant with company policies and procedures.
Principal Consultant, Grant and Financial Mgt.
PONA Group, Inc
03.2001 - Current
- Consult and assist over 90 clients (i.e., economic, and international development corporations both non-for-profit and for-profit, community-based organizations, and Community Development Corporation) in financial, contracts, grants, and cooperative agreements management
- Re-engineering business processes and procedures to ensure compliance with government/donors’ requirements resulting in savings of more than $6.4 billion for clients over 18 years
- Implements transboundary and multi-country programs, providing accounting, budgeting, payment, financial analysis and management, and audit services functions for clients and international donators
- Provide services include financial analysis, financial advisory services, cashiering, budgeting, voucher processing, audit; and monitoring of the financial management and accounting systems
- Major contract projects are:
- Millennium Challenge Corporation (MCC-US) and Government of Ghana $498.2m 2nd Compact project for infrastructural Development - Accra-Ghana
- Led a team to set up and designed a capacity development plan and training to ensure effective and efficient performance contract implementation through oversight of financial management, such as budgeting, cost containment, and transparent accounting and reporting practices
- USAID /IRD Port-au-Prince and CAP Haitian Shelter Programs – Port-Au-Prince - Haiti
- Designed and managed the overall financial/administrative process for the project activities to include the budgeting, forecasting, accounting, and implementation of all services required to support field office operations financially and administratively for the 12-community redevelopment program after Haiti’s earthquake
- Reviewed and assessed the operations of the Accounting and Payments sections to identify opportunities for best practices to maximize effectiveness and efficiency
- Identifies strengths and weaknesses, including bottlenecks, and recommends processes to streamline workflow and maximize efficiency
- Took the lead in resolving method of payment, cash management, cost reasonableness, reconciliation, and disbursement issues for vendors and partners
- Advises employees on the processing of payments and other documents concerning entitlements, allowances, travel, leave, etc
- Ghana Millennium Challenge Account for Agricultural Development, Economic Growth, and Poverty Reduction Program
- Accra, Ghana
- Led the post-close-out quality assurance and quality control (QAQC) compliance effort in Millennium Development Authority’s $540 million funded infrastructural and poverty reduction projects
- Assisted the Controller and the Chief Accountant in evaluating existing practices and procedures to ensure that proper internal controls are in place and being systematically applied; and that those operations related to budgeting and cash management are being carried out efficiently and effectively
- Afghanistan Vouchers for Increased Production in Agriculture (AVIPA) program – Kabul, Afghanistan
- Managed the quality assurance and quality control (QAQC) compliance effort in IRD-USAID $470m funded and implemented in cooperation with the Ministry of Agriculture, Irrigation and Livestock (MAIL)
- Hired and finalized the scope of work for 40 expatriates and local staff under the QAQC director’s supervision and rollout of the QAQC system
- Supported Financial Reviews, Pre-award assessments, risk assessments, and other due diligence activities that helped mitigate the risk of fraud, waste, and abuse in USAID programs in Afghanistan
- Supported USAID/Afghan and client missions’ efforts to increase the use of Host Country systems in implementing foreign assistance; participated in Mission Partner Government Systems team discussions (e.g., funds flow, advances, etc.) for ongoing or planned G2G arrangements.
- Integrated technology and business operations to identify targeted solutions to customer issues.
- Supported clients with business analysis, documentation, and data modeling.
- Prepared presentations to explain revisions, enhancements, and process improvements of theorganization's systems and programs.
Consultant, Grant and Contracts
U.S Department Of Commerce (NOAA/OFA)
Silver Spring, MD, Maryland
05.2001 - 09.2002
- Developed and administered federal competitive, non-competitive, formula, congressional earmark grants, and cooperative agreements
- Designed and implemented financial analysis and metrics-based forecasting systems allowing real-time fact-based decision-making
- Managed and oversaw all phases of grants management systems installation roll-out, capacity development, and compliance
- Ensured that all payment vouchers and bills of collections documentation related to project activities, audits, financial reviews, overpayments, employees’ advances, and others are processed in an adequate manner, as specified by rules and regulations.
- Supported timely and complete billing by documenting milestones and submitting accurate invoicing paperwork.
- Monitored contracts' performance to detect non-compliance with terms and deficient returns and organize proactive resolutions.
Senior Systems Integration Manager
Office of Tax and REVENUE
06.1999 - 11.1999
- Seconded to lead a transition team of managers to install, test, and drive capacity development of the DC government and rolled out a new accounting and information system (from FMS to R-Star)
- Led the implementation, testing, and maintenance of the functional aspects of the Oracle E-Business Financials for Revenue and tax administration
- Worked with users, programmers, and analysts, to create and develop new functional systems and procedures that enhanced accounting tasks and programs of government operations in all DC government departments and agencies
- Transitioned three financial Systems from FMS-MLS-R-Star with the District of Columbia Government which improved the government revenue by reducing the tax process cycle by 45%
- Reduced tax litigation and restored the government’s capacity to bill and collect revenues that restored the DC independence and released from US congressional controls and oversight.
- Tested functionality and compatibility of new programs or updates in comparison to existing applications.
- Completed pre-implementation testing for new system modifications to assess potential impacts.
- Advised developers on problems with databases, performance, and other issues.
- Exercised leadership capabilities by successfully motivating and inspiring others.
- Gained strong leadership skills by managing projects from start to finish.
Education
Master of Science - Financial Engineering
World Quant University
Chicago, IL10.2024
Bachelor of Science - Business Administration and Accounting
University of Maryland Global Campus
College Park, MD08.2005
Certification in Professional Accounting /Auditing - Accounting And Audit
University of Professional Studies
Accra, Ghana10.1990
Skills
- SAP FICO / Treasury Configuration
- OMB A-21, A-87, A110, A-122, A-133
- Indirect Cost Negotiations
- Proficiency in J D Edwards, Oracle Financials, Phoenix, People Soft, MS Access, QuickBooks, Microsoft Dynamics GP (Great Plains), and Deltek Cost-point
- Monthly Financial Statements
- Internal Controls
- Accounting Procedures
- Cost Estimates
- Financing Options
- Budget Development
- Accounting Soft-wares
- Federal Regulations
- Financial Management
- Financial Operations Systems
- Financial Data Analyzation
- Balance Reconciliations
- Financial Modeling
- Financial Statements
- Audit Risk Management
- Bank Reconciliation
- Excellent Team Leadership
- Debt Restructuring and Refinancing
- Oracle E-Business Suite Financials
- Financial Reporting and Analysis
- Business Administration
- Budgeting and Variance Analysis
- Strategic and Financial Planning
Affiliations
Member - Institute of Chartered Accountants (ICA) – Ghana
Member - Association of Certified Chartered Accountants (ACCA),
Member - National Association of Federated Tax Prepares’ of America,
Board Member- International Human Rights Commission, Ghana.
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Additional Information
- HONORS & AWARDS: , Associate of the Year Award US Department of The Navy (Exchange) – 1994 Bingham Award and Certificate of Appreciation, US Department of Navy Exchange Command – 1994-95 Certificate of Commendation for Excellence, District of Columbia Government (DC-US) – 1999-2000
Certification
International Federation of Certified Accountants (IFAC). England.
· Association of Certified Chartered Accountants (ACCA)
Career Training Institute, Silver Spring, MD
· NetWare Administration & Engineering
DCHA/DCHCD, Washington, DC
· Public Housing Accounting, Community Development Budget & Finance
Department of the Navy, Exchange Command, Bethesda, MD
· Government Contracting Officer’s Technical Representative
National Career Institution, Chicago, IL.
· Corporate Accounting
Timeline
Financial Management Consultant
US General Services Administration,
02.2014 - 06.2015
Global Controller
JP Morgan Chase Vestera
01.2011 - 12.2013
Consultant, Grant and Contracts
U.S Department Of Commerce (NOAA/OFA)
05.2001 - 09.2002
Principal Consultant, Grant and Financial Mgt.
PONA Group, Inc
03.2001 - Current
Director, Business and Economic Dev. Finance
Department Of Housing And Community Development
11.1999 - 03.2001
Senior Systems Integration Manager
Office of Tax and REVENUE
06.1999 - 11.1999
Manager, Financial Operation
DC Housing Authority
11.1996 - 06.1999
Master of Science - Financial Engineering
World Quant University
Bachelor of Science - Business Administration and Accounting
University of Maryland Global Campus
Certification in Professional Accounting /Auditing - Accounting And Audit
University of Professional Studies
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