Jerry Stephenson

Collaborative, Innovative and Loyal Senior Finance Leader with multi-faceted experience in State and Federal Government accounting, strategic financial planning, financial analysis and budgeting. Recognized for building detailed-oriented, stable, well run accounting and finance functions with integrity, and a commitment to Generally Accepted Accounting Principles (GAAP) and Government Accounting Standards (GASB).

First

Accountant in the history of the Massachusetts Comptrollers Office to prepare all indirect cost proposals before the beginning of previous Budget Fiscal Years. Independently prepared all indirect cost proposals as the subject matter expert without the assistance of a designated Consulting Firm. This effort saved the office $300,000 per year for four consecutive years while I assumed the responsibilities of my manager upon his retirement.

Senior Government Accountant, Statewide General Accounting Office and Federal Grants and Cost Allocation Bureau - Massachusetts Office of the Comptroller - Boston, Massachusetts

(2000-12 - 2022-04)

Managed the preparation and negotiation of the indirect cost rates for federal reimbursement, calculated program support costs and determined allocations. Developed rate calculations, and submitted negotiated agreements in Accordance with the United States Uniform Requirements for Federal Grant Awards.

• Collaborated with Chief Financial Officers and Department Managers to ensure a clear understanding of the issues and implications of indirect rate development for reimbursement.
• Gathered and analyzed financial data and researched program organizations to verify completeness and accuracy in determining eligible costs that benefited department direct programs.
• Developed calculation methods, data collection protocols and communication processes to ensure certain relevant and critical information was communicated, gathered, properly processed, and communicated to all Department Managers/Leaders once funding rates were fully negotiated.
• Submitted and negotiated reimbursements resulting in excess of $40M to the general fund revenue annually with ninety percent of the United States Federal Agencies.
• Actively assisted the Unit and Bureau Leadership with cross training, knowledge transfer, disaster recovery, risk assessment and internal control review.
• Trained the Budgetary Unit Manager, the vendor transition team and the summer interns.
• Contributed with the development of the fringe benefit and payroll tax rates, worked closely with teams implementing new financial systems and served on the IT Finance Committee with external consultants.
• Communicated with the Bureau of Fiscal Service and Treasury Offset Program Officials in gathering data to reconcile issues related to debt.
• Tasked with providing monthly revenue projections for cash flow spreadsheets utilized by the Office of Administration and Finance and the Treasurer's Office. Monitored the reconciliation regarding the clearing of the revenue sweep accounts for all State Agencies.

Assistant Financial Officer - Connecticut State Capital Community College - Hartford, Connecticut

(1998-08 - 1999-01)

Performed technical accounting analysis including budget development, financial reporting, and variance analysis on actual versus budget projections. Prepared budget request for the Governor and Legislature. Other responsibilities involved advising the community colleges regarding proper accounting in excess of $100M through the banner general ledger accounting system.

Business Consultant - Contractual Consultation - Hartford, Connecticut

(1990-06 - 1998-08)

Analyzed customer's financial stability, corporate balance sheets, restructured debt and investment portfolios. Evaluated client business plans and analyzed the efficiency of financial operating systems.

• Developed cash flow forecast projections to aid clients with decision support capabilities to assist them in designing complex business solutions while considering tax consequences.
• Counseled clients with a comprehensive overview of the analysis process and the tools used to implement strategies such as asset alignment, cash management and how financial instruments interact.
• Provided accounting system expertise as the Lead Consultant of five Fund Accountants in the development and implementation of the pension fund net asset value automated accounting system for the Travelers Insurance Company.

Internal Auditor - United States Defense Contract Audit Agency (DCAA) - Wethersfield, Connecticut

(1990-01 - 1990-06)

Detected inconsistent accounting treatment, recommended system enhancements and reported on the effectiveness of internal controls to management regarding corporations that made parts for the military.

• Prepared written audit reports consistent with Generally Accepted Accounting Principles, Federal Acquisition Regulations, Cost Accounting Standards, and the Defense Contract Audit Manual.
• Reviewed, verified, and analyzed system configurations, records, reports and procedures for accuracy. Led system audits with the goal of improving the efficiency and effectiveness of the audit role.

Senior Investment Accounting Analyst, Investment Finance and Administration Division - Aetna Life and Casualty Insurance Company - Hartford, Connecticut

(1986-09 - 1990-01)

Tasked with providing accrual accounting analysis and statutory financial statement preparation on investment pension fund separate account portfolios.

• Collaborated with internal and external auditors for review and test of financial data.
• Researched variances, prepared pension fund market valuations on asset/income portfolios. Verified the settlement of stock, futures, options, and bond transactions. Investigated dividends and interest income to ensure accuracy in calculation using comparative reasonability analysis.
• Worked with management and collaborated with Mckinsey & Company to provide accounting system advice in the implementation of the automated accounting system to support $5B in pension fund assets under management.

Master of Science - Taxation - Bentley University (2018-05)

BSBA - Accounting - Saint Augustine's University