Paul E. Gorman, MBA, CPA

CFO/COO - FINANCIAL SERVICES

Executive Profile

Chief Financial Officer/Chief Operating Officer highly experienced in the financial services sector.

• Highly accomplished in the measurement and effectiveness of all financial and operational control systems, consistently improving timeliness of reporting and automating to reduce costs.
• Maintains exceptionally strong investor relationships and effective risk management.
• Implements plans for ensuring the operational infrastructure of systems, processes, and personnel with dramatic process and cost improvement.
• Manages all vendor relations (administrator, custodian, data providers, phone, floor brokerage and insurance) reducing costs by obtaining competitive rates and renegotiating contracts.

Career Portfolio Highlights

• Received a refund of $1.5MM on dividends withheld on behalf of CalPERS (largest investor in fund) covering 3 prior years and had withholding rate of 30% reduced to 15%.
• Obtained $175MM line of credit to finance trades done by fund at Euribor rate reducing cost to finance trades by 67%.
• Reduced Investor complaints to zero from 25%; instead complaints were converted to compliments.

Education Highlights

• Began career in Public Accounting earning a CPA. Possesses MBA degree.

Paul E. Gorman, MBA, CPA

CFO/COO - FINANCIAL SERVICES

Proficiencies

Paul E. Gorman, MBA, CPA

CFO/COO - FINANCIAL SERVICES

Selected Achievements

IMPROVEMENT

• Fund had a need for financing equity trades on a short-term basis because trades would settle 3 days after being executed and investors would have 10 business days to fund their trades through Capital Calls: Obtained $175MM line of credit to finance trades done by fund at Euribor rate reducing cost to finance trades by 67%. Improved flexibility to trade by being able to use brokers not capable of financing trades. (KNIGHT VINKE ASSET MANAGEMENT)
• When US office was opened, email and server access were done remotely and access times were inordinately long, taking minutes versus seconds, and files were lost due to lack of backup. Also, accounting and operations groups were encountering errors when sharing files between US and Europe. Designed a comprehensive solution to share, back up and synchronize files every 2 minutes between US and European offices: Enabled personnel to work on and share the same applications and files throughout the day.(KNIGHT VINKE ASSET MANAGEMENT)

ANALYSIS

• Received a refund of $1.5MM on dividends withheld on behalf of CalPERS (largest investor in fund) covering 3 prior years and had withholding rate of 30% reduced to 15%: When doing analytical review of CalPERS P & L, noted that dividends withheld was a large expense. Reviewed with outside auditor and fund custodian and learned that neither had requested documentation necessary to treat investor as a qualified pension plan. Received necessary documentation. (KNIGHT VINKE ASSET MANAGEMENT)

DEVELOPMENT

• Fund expanded from 2 investors to 6 investors with AUM increasing by $150MM and there was a need to calculate trade allocations based on investor commitments on trade date versus next day. Developed Excel template to calculate allocation of individual trades based on investor commitments to fund and net money due from investors: Template enabled operations to quickly calculate, report and book trade allocations to administrator, custodian and investors immediately after market close. (KNIGHT VINKE ASSET MANAGEMENT)

REDUCTION

• Investor complaints regarding reporting issues were affecting 25% of fund investors. Utilizing investor input, developed customized Excel templates to supplement standard NAV packages sent to investors: Investor complaints were reduced to zero; instead complaints were converted to compliments.(KNIGHT VINKE ASSET MANAGEMENT)
• Reduced reporting times from 10 business days after month-end to 3rd business day after month-end. Flash reports were provided to investors on last business day of month: Set more aggressive deadlines with fund administrators and internal staff. Hired Shadow accounting firm to calculate separate NAVs to which reduce turnaround time and improved accuracy. (KNIGHT VINKE ASSET MANAGEMENT)
• Cut by 50% the time to complete and distribute fund audits to investors: Set a new timeline with fund administrator and auditor to provide and review both draft and final audits. Set weekly meetings to review progress of audits to identify and troubleshoot delays. Directed work for funds to be started in October to enable completion within 30 days after year-end.(KNIGHT VINKE ASSET MANAGEMENT)
• Installed email monitoring/archiving (Global Relay) to make retrieval and search of emails efficient: Saved 400 man-hours searching for files as searches could be filtered by dates, keyword, person sent to, received from, and organization. Ensured compliance with SEC rules to save emails in a Worm (Write Once Read Many) format. (KNIGHT VINKE ASSET MANAGEMENT)
• Reduced costs by $100,000 in first year: Received $20,000 refund from phone company and reduced ongoing rates on floor brokerage and health insurance through competitive bid. In subsequent years, cut clearing firm cost by 25% ($50,000) by obtaining competitive rates and renegotiating contract. (DUNLEVY & CO.)
• Failed Trade Report was 10 pages long and had trades that were 60 days old in an environment where trades settled in 7 days. These trades were financed at broker call rate and those not charged back to client were financed by firm representing a multi-million dollar liability: Reduced failed trade report to 1 page with oldest unsettled trade being 2 weeks old. Put in place exception report to address unsettled trades by age with daily sign offs to affix responsibility. (DUNLEVY & CO.)

ORGANIZATION

• Designed the layout of and supervised the installation of customized trading desk (no visible wires, cables, monitors or computer cases) that would look like a piece of furniture and utilized local area network for quotation, analytics and block allocations from customers: Completed project 25% below budget. Head trader said it was first time a trading desk installation worked day one. (DUNLEVY & CO.)

Paul E. Gorman, MBA, CPA

CFO/COO - FINANCIAL SERVICES

Performance Results

Paul E. Gorman, MBA, CPA

CFO/COO - FINANCIAL SERVICES

Career Experience & Education

TMF Group

New York, NY (2019 - present)

Client Service Director (US), 1/2021

Solution Architect, 12/2019 - 12/2020

For firm providing fund administration, SPV accounting and Corporate Secretarial Services to Private Equity Clients.

SS&C

Cranford NJ (2015 - 2019)

Manager, 2018 - 2019

Assistant Manager, 2015 - 2018

For firm providing fund administration to Private Equity Clients. Responsible for 5 closed end multi-structure funds totaling over $2 billion in commitments (monthly closes - carry and allocation files), 19 Co-Invest funds totaling over $700 million in commitments, and 35 promote entities. Review and prepare work papers, financial statements, capital calls, distributions and water fall calculations based on interpreting partnership agreements. Liaison between client and audit, tax firms. Prepare, review wires to pay fund expenses on behalf of clients.

Previously Assistant Manager

KNIGHT VINKE ASSET MANAGEMENT

New York, NY (2006 - 2013)

Chief Financial Officer

For firm managing $2.5 billion in assets, supervised staff of 4, hired and trained NYC staff. Managed 4 fund and 5 service company audits. Responsible for $13 million budget for operating companies. Reviewed all fund trading done by outside brokers. Reconciled firm trades and internal P & L. Acted as Risk Officer on hedge fund and ran VAR, Monte Carlo simulations.

DUNLEVY & CO.

New York, NY (1987 - 2005)

Chief Operating Officer

Managed all the day-to-day activities of a New York Stock Exchange Member firm including the equity trading function and the NYSE floor operation. Staff of 13, $3 million budget.

Previously, Staff Accountant for Deloitte & Touche

Paul E. Gorman, MBA, CPA

CFO/COO - FINANCIAL SERVICES

Recommendations

Michael Riffle, CFA, CAIA, FRM
Portfolio Manager at CalPERS

I highly recommend Paul Gorman to anyone. I have know and worked with Paul for over seven years. During this time Paul has displayed the utmost integrity, keen business acumen, and superior character. Without any doubt I value him to be a great man. I am very proud to call Paul a close and trusted friend.

Patricia Perruzza
Partner at PricewaterhouseCoopers LLP

Paul is an outstanding professional, whose greatest assets include integrity, detailed business accumen, significant asset management industry knowledge and experience, detailed oriented (reads contracts throroughly), excellent team player, promotes a "thank-you" culture among his team, pleasure to work with and all out gentlemen!

Patricia was the Audit Partner for Knight Vinke.

Dan Gallagher
Retired CIO LACERS

Paul is a great team player and problem solver. He adds value thorough his helpful command of both high-level and detail operations, and his efficient and responsive client service. Paul inspires confidence with both clients and staff. I know that once Paul is involved, problems will be resolved quietly, professionally, and that the best possible outcomes will be ensured. I cannot recommend Paul highly enough. Any organization would be lucky to have a team member like Paul.

Casi Benedikte
Investment Management

It is rare to come across people of Paul's caliber. When I moved to New York 8 years ago, he went out of his way to make my stay a great experience. We worked closely together for 3 years, often co-operating on projects as well as managing relationships. I got to know Paul as a no-nonsense, highly competent and hard working CFO. At the same time, he was always approachable and would take the time to both listen and give valuable advice. He is the best mentor I have ever had. From the day I met him, I have admired Paul's ability to handle difficult situations and to obtain the desired results. On several occasions Paul also proved that he will do what is best for the company, even at his own detriment. I miss working with Paul and can give him my highest recommendation. Any team would be lucky to have him onboard.

Carolyn Lewerenz
Assistant Vice-President / Project Manager at AllianceBernstein

Paul is a very skilled and responsible financial services executive. He is willing to take the deep dive to tackle issues and uses his vast experience and analytical skills to do so in a most professional manner. Paul is an excellent leader and an upstanding manager who is not afraid to always do the right thing.

Carolyn reported to Paul at Knight Vinke Asset Management

Jeanine Sabatino
Executive Assistant at DF

Paul was an excellent boss to work for. He always explained everything thoroughly, was patient with my questions, and just an overall great guy. He proved to be a great leader and source of inspiration.

Jeanine reported to Paul at Knight Vinke Asset Management

Chief Operating Officer
Dunlevy & Co., Inc.
Kevin Joyce
Director - Fund Accounting at Citco Fund Services

I first met Paul in 1995 when he was the COO of Dunlevy and Co, my audit client. He is a smart, hardworking and honest professional with extensive industry knowledge and experience. At Dunlevy, he effectively managed a diverse team of traders, brokers and administrative staff. He is a strong team player with the highest integrity. He is focused and event driven. Over the years, I have truly enjoyed his business and personal counsel.

Peter Siciliano
Retired Partner - McGladrey & Pullen

I have known Paul for over thirty years and was the Audit Partner for Dunlevy & Company. Paul's attention to detail results in a superior product. He works well with people and is a team player. He is very trustworthy and dedicated to the people he works with and the company.

Downloads

LinkedIn Recommendations

KV letter of recommendation

Dunlevy & Co. Inc. letter of recommendation

Implements plans for ensuring the operational infrastructure of systems, processes, and personnel with dramatic process and cost improvement.