2017 - PRESENT
W.M. Wright Consulting
- Influenced stability in an organization by serving as CFO or COO on an interim-basis during C-level transitions/searches.
- Guided the future direction of the company by working with organizational leaders to craft strategic plans, implementing success measures, and building accountability structures.
- Affected the strategic and operational decision-making processes by analyzing opportunities (expansions, startups, M&A, large capital purchases) and developing an assessment of the financial impact, including conducting M&A due diligence and deal analysis.
- Improved the accurate assessment of operational challenges and crafted plans to improve efficiency and effectiveness.
- Oversaw the development of plans to improve an organization's asset and capital structure.
- Helped to align the finance and accounting function with the overall business strategy. Assessed the current finance and accounting function (financial reporting, FP&A, treasury, tax) and developed improvement plans.
- Influenced the development of a full array of internal financial reports for improved decision-making and assessed current regulatory and SEC Reporting (10-K, 10-Q, 11-K, 8-K) for improved compliance reporting.
Focus areas: Interim CFO/COO, Strategic Finance Management, Decision Support, Process Improvement, Asset-Liability Management, Accounting Modernization, Finance Systems, Financial Management, Financial Planning & Analysis (FP&A), P&L Forecasting, Cash Flow Forecasting, Budgeting, Financial Reporting, Internal Financial Reporting, SEC Reporting, Mergers & Acquisitions (M&A)
Vice President of Finance
2013 - 2017
Xenith Bankshares, Inc. (f/k/a Hampton Roads Bankshares, Inc.)
- Served as senior finance leader for this $3 billion, publicly-traded, multi-state community bank. Led the finance teams responsible for SEC, regulatory, and board reporting; corporate tax planning and compliance; forecasting; budget planning and oversight; and subsidiary accounting. Served as a member of the bank’s ALCO. Worked under a post-merger retention agreement for 8 months with Xenith Bank to assist in merger integration projects.
- Streamlined the annual capital and operating budget process, resulting in improved reporting functionality for all levels of management and board.
- Redesigned all accounting processes and procedures related to a $600 million mortgage subsidiary, resulting in improved accuracy, timeliness, and audit results.
- Redesigned all internal tax planning and compliance procedures resulting in improved tax provisioning and asset/liability valuation.
- Conducted pre-merger due diligence analysis and served on the post-merger integration team.
- Selected and implemented a superior technology solution and revamped processes related to SEC reporting, resulting in improved overall production process and quality of SEC reports.
Focus areas: SEC Reporting, Regulatory Reporting, Financial Reporting, Board Reporting, Financial Strategy, Financial Modeling, Financial Management, Budgeting, Asset Liability Management (ALCO Committee Member), Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A)
Chief Financial Officer
2011 - 2013
Chartway Federal Credit Union
- Served as Corporate Finance leader for a $2 billion, multi-state, federally-chartered credit union, primarily responsible for managing the assets and core finance activities. Led the functional work groups of Finance/Accounting, Collections, and Consumer and Business Lending. Responsible for ALM analysis and reporting, financial reporting, budgeting, forecasting, product pricing, Board of Directors and ALCO reporting, and portfolio management.
- Managed realignment and diversification of a $500 million investment portfolio, improving overall book yield by over 50%.
- Oversaw a controlled expansion of business loan portfolio from 3% to 6% of total loan portfolio.
- Created a financial analysis function providing new insights into line of business profitability and improved corporate decision-making.
- Negotiated and completed $325 million in multiple consumer and first mortgage loan participation arrangements.
Focus areas: Investment Portfolio Management, Asset Liability Management, Lending, Financial Planning & Analysis (FP&A), Finance Strategy, Corporate Finance, Financial Reporting, Mergers & Acquisitions (M&A), Portfolio Analysis, Budgeting, Pricing Analysis, Board Reporting
Owner / CFO Consultant
2009 - 2013
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.
- Expanded a technology firm by assisting in acquisition negotiations, and formulating the business plan and pro formas for raising capital.
- Engineered the turnaround of a regional transportation company. Developed and implemented an asset utilization study, profitability analysis, and cash flow forecast, and provided regular financial and business advisory services.
- Analyzed and designed improvements to accounting processes and financial reporting for the mortgage division of a community bank.
- Spearheaded the creation of business plans and related pro forma financials for several startup entities in a variety of industries to be used for investor presentations; assisted in raising debt and equity capital.
Focus areas: Financial Planning & Analysis (FP&A), Financial Reporting, Financial Strategy, Financial Management, Process Improvement
Division President; Division VP; CFO; Controller; HR Director
1997 - 2008
Virginian-Pilot Media Co.'s (division of Landmark Media Enterprises, LLC)
- Served in senior leadership roles across niche military media, accounting/finance, and human resources for this diversified media company with $150 million revenue.
- Orchestrated double-digit productivity gains in Accounting & Finance department, shortened monthly close by 33%, reduced budget process by 50%, improved technology, streamlined procedures, and hired and retained high-performing professional talent.
- Elevated financial literacy of the company’s non-financial managers and improved corporate decision making. Developed corporate training programs in accounting, finance, business management, financial statement analysis, capital and operating budgets, ROI analysis, and financial forecasting.
- Achieved 25% growth in subsidiaries revenue and profits through acquisitions. Conducted financial and operational due diligence and ROI analysis.
- Approved funding of capital projects that generated returns of 15% and better. Elevated the selection criteria of projects. Instituted capital review audits. Educated company leadership on ROI and improving cash flows.
- Achieved top ranking in traffic among transitioning military career sites, reaching forty percent market share in less than two years. Invested in significant product improvement and executed a highly effective marketing plan.
- Acquired an online business projected to increase revenue and profits by twenty percent. Conducted market studies, due diligence, assisted in negotiations, and led integration efforts.
- Negotiated two deals to grow division revenue and profits by three hundred percent. This result came after after analysis and review of almost two dozen acquisition opportunities.
- Produced twenty percent and higher IRR on capital improvement funds. Increased production capacity, improved efficiency, and generated ten percent revenue growth. Completed the project under budget and on time.
- Expanded the number of process improvement projects by 100% company-wide, generating productivity improvements as high as 35%. Instituted Activity-based costing, data analysis, and knowledge management.
Focus areas: Corporate Finance, Finance Strategy, Budgeting, P&L Forecasting, Cash Flow Forecasting, Profitability Analysis, Mergers & Acquisitions (M&A), Working Capital Management, Project Finance, Revenue & Expense Projections, Budget Controls, Finance Systems, Market Opportunity Analysis, Cost Reduction & Optimization, Cost Efficiency, Market Research, Due Dilligence, Discounted Cash Flow (DCF), Debtor & Creditor Management, Ratio Analysis
1991 - 1996
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.
Focus areas: Portfolio Analysis, Portfolio Management, Finance Systems, Corporate Finance, Data Analysis, Finance Strategy, Accounting Modernization, Accounting Consolidation, Investment Summaries, Business Taxes
Tax Manager; Tax Associate; Staff Auditor
1986 - 1991
PricewaterhouseCoopers & Barron Gannon & Co P.C.
- Participated in numerous independent audit assignments.
- Provided tax planning and compliance services for corporate and individual clients.
Focus areas: Business Taxes, Individual Tax, Fairness Opinion Reports, Audit Management