William M. Wright II, CPA
Verified Expert in Finance
William is a trusted finance and business leader for small and mid-market companies in a wide array of industries. His success as a CFO includes assisting a motorsport startup raise $50 million in seed funding, assisting $1 – $3 billion financial services, media, and technology entities grow long-term value by conducting M&A due diligence and decision support analysis as well as improving finance operations in numerous SMB organizations.
Outsourced CFO and Controller/Owner
W.M. Wright Consulting
- Generated $50 million in seed capital funding for regional sporting and entertainment development; created business plan, proformas and pitch deck as well as conducted investor presentations and provided CFO advisory services.
- Accelerated financial recovery of a $22 million regional media company; assessed debt and cash flow issues; provided analysis and recapitalization strategies.
- Contributed to improved financial management of a $9 million non-profit organization; instituted process improvements and improved financial analysis; provided CFO advisory services.
- Expanded a $5 million technology firm by doubling the revenue base through acquisition; formulated business plan and proformas for the capital raise.
- Introduced a redesign of accounting processes, budgeting, cash flow forecasting, and investor financial reporting for a $4 million independent film production company; provided CFO advisory services.
- Improved the profitability of a $1 million regional transportation company by 40%; developed the asset utilization study, profitability analysis, and cash flow forecast; provided CFO advisory services.
Vice President of Finance
Xenith Bankshares, Inc. (f/k/a Hampton Roads Bankshares, Inc.)
- Eliminated inefficiencies in SEC reporting processes reducing production time by 25%; selected and implemented superior technology solution; improved overall production process and quality of SEC reports (10-K, 10-Q, 11-K, 8-K); revamped regulatory compliance processes.
- Streamlined annual capital and operating budget process reducing time to complete by 33%; with improved reporting functionality for all levels of management and board.
- Maximized accounting accuracy, timeliness, and audit results for a $600 million mortgage subsidiary; assessed and redesigned accounting processes and procedures.
- Decreased tax provisioning and asset/liability valuation by 25%; resulting from redesigned internal tax planning and compliance procedures.
- Minimized operational disruption by serving as contributor to post-merger integration team.
Chief Financial Officer
Chartway Federal Credit Union
- Optimized loan portfolio returns by negotiating and completing $325 million in multiple consumer and first mortgage loan participation arrangements.
- Increased overall book yield by over 50% in a $500 million investment portfolio through realignment and diversification.
- Delivered a controlled expansion of business loan portfolio from 3% to 6% of the total loan portfolio.
- Added a financial analysis function, providing new insights into a line of business profitability and improved corporate decision-making.
Principled Advisory Services/William M. Wright II, CPA, LLC
- Founded and operated an independent CFO consulting business serving small and mid-market enterprises, assisting organizations in all stages of the business life cycle to work through strategic and operational challenges.
Division President; Division VP; CFO; Controller; HR Director
Virginian-Pilot Media Co.'s (division of Landmark Media Enterprises, LLC)
- Produced 20%+ IRR on capital improvement funds; increased production capacity, improved efficiency, and generated 10% revenue growth; completed project under budget and on time.
- Orchestrated growth in market reach from 23% to 40% in less than 18 months; aggressively competed for and won 33% more government contract awards.
- Grew division revenue and profits by 300% by negotiating and completing two acquisition after analyzing almost two dozen deals.
- Achieved 25% growth in subsidiaries revenue and profits through acquisitions; conducted financial and operational due diligence and ROI analysis.
- Gained double-digit productivity gains in the accounting and finance department by shortening monthly close by 33% and reducing budget process by 50% through improved technology. Streamlined procedures and hired high-performing talent.
- Reduced employee turnover and legal costs by 20%, through heightened focus on employee relations, benefit administration, leader development, and work environment.
NLC Insurance Companies
- Served as Corporate Finance leader for a $40 million New England region property/casualty mutual insurance company. Led Accounting and Finance teams and served as a member of the company’s investment committee.
- Maximized investment returns on a $45 million portfolio of securities.
- Developed tax-planning procedures to minimize liability and improve cash flows.
- Developed and maintained internal financial analysis reports to assist management with critical business decisions.
- Developed and maintained external reporting procedures for statutory and GAAP purposes, and delivered training to non-financial managers.
Tax Manager; Tax Associate; Staff Auditor
PricewaterhouseCoopers & Barron Gannon & Co P.C.
- Participated in numerous independent audit assignments.
- Provided tax planning and compliance services for corporate and individual clients.
Master of Business Administration (MBA) Degree in eCommerce
Regent University - Virginia
Bachelor's Degree in Accounting
University of New Haven - New Haven, Connecticut
Certified Public Accountant (CPA)
Commonwealth of Virginia Board of Accountancy (#21414)