William M. Wright II, CPA
Verified Expert in Finance
Finance Expert
Chesapeake, VA, United States
Toptal member since May 5, 2017
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.
Career Highlights
Education Highlights
Certification Highlights
Case Studies
Industry Expertise
Other Expertise
Work Experience
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.
Owner/CFO Consultant
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.
Financial Manager
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.
Education
Master of Business Administration (MBA) Degree in eCommerce
Regent University - Virginia
Bachelor's Degree in Accounting
University of New Haven - New Haven, Connecticut
Certifications
Certified Public Accountant (CPA)
Commonwealth of Virginia Board of Accountancy (#21414)
Skills
Finance
CFO, Mergers & Acquisitions (M&A), Finance Strategy, Chartered Accountant (CA), Startup Funding, Due Diligence, Project Finance, Certified Public Accountant (CPA), Capital Budgeting, Accounting, Financial Systems, Financial Planning & Analysis (FP&A), Financial Reporting, P&L Forecasting, Cash Flow Forecasting, Forecasting, Internal Financial Reporting, External Financial Reporting, Capital Raising, Budget Controls, Capital Structuring, Growth Capital Raising, Financial Modeling, Financial Management, Budgeting, Investment Portfolio Management, Lending, Corporate Finance, Portfolio Analysis, Price Analysis, Profitability Analysis, Working Capital Management, Revenue & Expense Projections, Market Opportunity Analysis, Cost Reduction & Optimization (Cost-down), Cost Efficiency, Market Research, Discounted Cash Flow (DCF), Debtor & Creditor Management, Ratio Analysis, Data Analysis, Accounting Modernization, Accounting Consolidation, Investment Summaries, Business Taxation, Individual Tax, Fairness Opinion Reports
Industry Expertise
Banking & Finance, Financial Services, Capital Markets, Insurance
Output Software
Microsoft Excel, Microsoft Project, Microsoft Word, Microsoft PowerPoint, Microsoft Outlook
Geographic Expertise
United States
Data & Analysis Software
Microsoft Access
Other
Finance Product Manager, Consulting, Corporate Controller, Managerial Finance, Financial Controlling, Financial Controls & Processes, Investment Decision Support, Business Consulting, Publishing, Asset Liability Management (ALM), P&C Insurance, Strategy Planning, Startups, Business, Strategy, Strategic Planning & Execution, Company Strategy, Process Improvement, Management Consulting, Financials, Banking Relationships, Commercial Banking, Annual Budgets, 10-K Filing, BOD, Accounting System Migrations, Company Research, General Ledgers, General Accounting, Boards, Board Work, Board Presentations, External Audits, SEC Financial Reporting, Treasury & Liquidity Management, Loan Accounting, Fixed Asset Management, Process Optimization, Enterprise Startups, Startup Growth Strategy Development, Expansion Strategy, COO, Interim Controller, Interim Reporting, Tax Provisions, Financial Forecasting, Budget Modeling, SEC Disclosure, SEC Filing, Post-merger Integration, Industry Analysis, Media, Business Research, Business Loans, Business Services, Business Planning, Operational Efficiency Improvement, Process Documentation, Regulatory Compliance, Regulatory Reporting, Board of Directors, Board Reporting, Portfolio Management, Audits, Management, Interim CFO, Decision Support, Pitch Decks, Investor Presentations, Investor Relations, Microsoft 365
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