Financial Services
Challenges Faced by CFOs in Financial Services
CFOs in the financial services sector grapple with a myriad of challenges, and at CFGI, we’re dedicated to helping you overcome them:
- Aging, Outdated, and Underperforming Legacy Systems: Transitioning from legacy systems can be daunting, and we specialize in streamlining this process to enhance efficiency and performance.
- Environmental, Social, and Governance (ESG): Understanding the impact of ESG on business decisions, including underwriting and investments, is crucial. We help you track, report, and integrate ESG considerations seamlessly into your financial strategies.
- Upcoming Accounting Standards Adoptions: Navigating through US GAAP Long Duration Targeted Improvements, IFRS 17 Insurance Contracts, and STAT pronouncements requires expertise. We ensure a smooth transition by providing comprehensive guidance and support.
- Lack of Qualified Professionals: The shortage of qualified and experienced professionals, particularly in statutory accounting and reporting within the insurance industry, is a challenge. CFGI bridges this gap with our specialized associates and tailored staffing solutions.
- Regulatory Oversight: Managing oversight from various regulators, including Departments of Insurance the SEC, demands precision. CFGI offers strategic guidance to navigate regulatory complexities seamlessly.
CFGI’s Specialized Expertise
CFGI is your go-to partner for addressing the specific needs of the financial services industry, providing expertise in:
Finance and Accounting Consultation
We offer insights on significant and unusual transactions, ensuring your financial decisions align with your strategic goals.
Technical Accounting Consultation
From guidance adoption to application, including CECL, our experts provide clarity on complex technical accounting matters.
Interim Management and Staffing
Whether you need an interim CFO, Controller, or insurance-focused associates, CFGI provides the experienced professionals you require for seamless operations.
Project Management
We lead IPO and audit readiness engagements, ensuring a structured and efficient approach to complex projects.
Internal Controls & IT Risk Advisory
Our services cover SOX compliance, material weakness mitigation, compliance with MAR, and comprehensive process flow reviews and documentation.
Tax Services
From year-end returns to state and local taxes, CFGI’s tax experts provide comprehensive solutions tailored to your financial services business.
Recent Project Highlights
Our commitment to excellence is reflected in recent projects that showcase our capabilities:
Workday Ledger Software Implementation
Successfully implemented Workday ledger software at a publicly traded international property & casualty insurance provider.
IPO Readiness Leadership
Led IPO readiness efforts at a national Medicaid company, ensuring a seamless transition to the public market.
Interim Support Roles
Provided interim support in various roles, including Interim CFO at a private property and casualty insurer, Interim US Controller for a publicly traded reinsurance company, and Interim Consolidations Manager at a publicly traded insurance company.
Material Weakness Mitigation
Designed and implemented controls to mitigate a material weakness at a private life insurance company, ensuring compliance and financial integrity.
Why Choose CFGI?
CFGI brings a blend of expertise, innovation, and dedication to the table. Our goal is to empower financial services companies to thrive in a rapidly evolving landscape. Contact us today to explore how CFGI can be your strategic ally in achieving financial success and operational excellence.
Learn More About Our Solutions
Connect With Our Leaders
Matt Pantera
Managing Partner
(508) 625-0172
mpantera@cfgi.com
Jillian Morrow
Partner
(732) 513-0179
jmorrow@cfgi.com
Diana Cordeiro
Partner
(617) 308-2754
dcordeiro@cfgi.com
