Cheryl Cheng, CPA, CFA
Verified Expert in Management Consulting
Management Consulting Expert
Toronto, ON, Canada
Toptal member since March 8, 2021
Cheryl is a seasoned full-stack financial advisor who supported $5 billion in fundraising (debt/equity financing, venture/growth/PE financing), closed $20 billion in transactions (financial analysis, modeling, due diligence), and prepared companies for audit/IPO readiness. She held roles in advisory and audit practices at Tier-1 accounting firms and corporate development at a Fortune 500 company. Cheryl enjoys working with entrepreneurs and founders to grow their vision into a thriving business.
Career Highlights
Certification Highlights
Case Studies
$50 Million Real Estate Investment Opportunity
Valuation of $100 Million Consumer Product Company
Expertise
- Corporate Finance
- Financial Modeling
- Forecasting
- Fundraising
- Investor Relations
- Mergers & Acquisitions (M&A)
- SOX Compliance
- Three-statement Modeling
Work Experience
Senior Manager
KPMG
- Closed acquisition of $3 billion midstream assets (including processing facilities and pipelines/storages/terminals) in Western Canada. Performed credit rating and market benchmarking analysis in support of $1 billion debt financing.
- Performed independent valuation of a $2 billion PPP portfolio consisting of data infrastructures, transportation assets, education, and healthcare facilities in North America in support of litigation disputes for loss recovery.
- Developed valuation framework based on industry best practices to improve governance and efficiency by 250%. Developed valuation models for $250 million-$1 billion private equity investments, $100-$250 million private debt positions, and $250 million-$1 billion PPP assets.
- Closed acquisition of $500 million hotel and casino property in Las Vegas. Performed financial analysis supporting a $150 million revitalization plan, which resulted in a 200% increase in asset value in three years.
- Closed a $1 billion acquisition of an AI-driven medical claims recovery company by leading a team of data scientists and lawyers to perform due diligence on the assets; target MOC of 3x in ten years.
- Advised executives of a biotech company on structuring $300 million Series C to provide funding for clinical trials and allow the option for purchase upon FDA approval; expedited clinical trial and commercial use within a 24-month period.
- Performed valuation of $3 billion loan portfolio and $1 billion derivative portfolio for regulatory review at a time of liquidity run-off; assisted executives in defending capital adequacy assertions and prevented regulatory sanction and take-over.
- Closed a $5 billion M&A between an investment manager and a distressed credit lender. Performed financial due diligence and supported post-transaction integration. Boosted acquirer's net asset by 50% and share price increased by 50% in 12 months.
- Performed model validations and valuation review on derivative products of Schedule I banks, covering futures/forwards, options, swaps, structured notes. Audited model logic and mechanical accuracy of models.
Senior Accountant
EY
- Led the audit of a $100 billion Schedule-I bank with off-shore teams. Assessed SOX compliance by testing hundreds of controls and designing remediation plans to address control weaknesses. Opined on technical accounting issues and reporting requirements.
- Led the audit of Richardson GMP’s $250 million acquisition of Macquarie Private Wealth. Reviewed the consolidation of accounts and purchase price allocation and designed and executed a test of controls on both sets of reporting systems.
- Led the audit of various $1-$5 billion Schedule-II banks with a focus on loan loss allowance. Leveraged the off-shore team to increase efficiency by 50% by a reduced timeline of 30%.
Analyst, Corporate Development
Evergrande Real Estate Group China
- Closed IPO at the HKSE and raised $800 million in equity with 10x oversubscription. Collaborated with bankers, lawyers, and auditors in completing the underwriting and due diligence process. Prepared investor presentations and roadshow materials.
- Issued a high yield bond and raised $1 billion to fund an expansion plan outreaching to 50 new projects. Prepared financial materials in support of the underwriting and credit rating process and managed creditor relationships post-closing.
- Negotiated the restructuring of $1.5 billion debt to PIK payment and extension of maturity, resolved liquidity crunch that could be lethal.
Education
Master's Degree in Management and Professional Accounting
University of Toronto - Toronto, Ontario, Canada
Bachelor's Degree in Business Administration
Simon Fraser University - Vancouver, British Columbia, Canada
Certifications
CBV
CICBV
CPA (CA)
CPA Ontario
CFA
CFA Institution
Skills
Finance
Accounting, Corporate Finance, Valuation of Financial Instruments, 409A Valuation, DCF Valuation, Budgeting, Forecasting, Valuation, Mergers & Acquisitions (M&A), Due Diligence, Financial Reporting, Three-statement Modeling, Fundraising, Financial Modeling, Financial Planning & Analysis (FP&A), Market Research, Valuation Multiples, Property Investment
Output Software
Microsoft Excel, Microsoft PowerPoint
Industry Expertise
Banking & Finance, Commercial Real Estate, Residential Real Estate, Real Estate Development, Capital Markets
Other
Presentations, Accounting Policy, Audits, SOX Compliance, Internal Control Evaluation, Loans, Biotechnology, Monte Carlo Simulations, Investor Relations, Initial Public Offerings, Interim CFO, Python 3, Litigation Support, Executive Summaries, Benchmarking, Cost Analysis, Business Analysis, Financial Forecasting, Strategic Planning, Testing, Property Valuation, Property Management, Derivatives
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