VANCE E.

DAVIS, MBA CPA

Bronx NY 10462 | (917) 651-8302 | VanceE.Davis@yahoo.com

FINANCIAL MANAGEMENT EXECUTIVE

Senior finance executive recruited repeatedly to improve and manage the financial reporting, planning and analysis process at leading Banking institutions. Deliver actionable business intelligence through process reengineering, research and analysis of opportunities and risks. A former boss commented His strength lies in his ability to comprehend, analyze and synthesize information. Has detailed experience in Credit Cards, Commercial Real Estate, Transaction Services and startup companies. Technical skills include Oracle Essbase and General Ledger, Microsoft Office including Excel pivot tables and a Wharton M.B.A. Professional Strengths Financial Planning and Analysis Cost Accounting and Variance Analysis Internal Controls and Fiscal Procedures Team Leadership and Staff Management Strategic Planning and Recommendations Process Streamlining and Reengineering Management and Financial Reporting P&L / Budgeting and Forecasting Economic Analysis / Competitive Trends Financial Models, Reports, and Statements Systems Integration and Consolidation Relationship Building and Management

PROFESSIONAL EXPERIE NCE

BANK OF AMERICA, Wilmington, DE, 20062010 Vice PresidentFinancial Support, Credit Insurance Business, U.S. Card Division (20092010) Selected to improve credit insurance business working directly with acquisition channel managers. Prepared and presented $200MM annual expense budget, monthly forecasts, and strategic plans. Developed ROI valuations for new product and marketing campaigns to optimize corporate resource allocation. Saved company $25MM through detailed analysis and reports of unprofitable acquisition channels; developed 1 to 5 year pro forma statements and streamlined 5-year NPV model with new metrics that improved forecast predictability and resulted in multiple channel closures. Facilitated 50% reduction in the new account acquisition forecast review process and improved data quality by proactively including built-in comparisons and explanations in the monthly forecast. Created 5-year pro forma P&L pricing scenarios for product re-launch and proposed solution that was presented to senor management and enthusiastically accepted with commendation from the business partner. ManagerFinancial Support, Reporting Group, U.S. Card Division (20062009) Instrumental in building confidence with business leaders by strengthening finance functions and producing accurate financial data to executive management to assist in business decisions. Consulted with senior executives and operational management on financial performance; provided financial analysis support, outlining risks and opportunities. Provided system and reporting support following MBNA's acquisition by Bank of America. Enhanced financials consolidation across consumer credit card, business card, and consumer lending segments. Standardized definitions and established new reporting structure with stringent review processes. Created and delivered monthly financial reports, forecasts, and budgets to 68 business and finance leaders; reviewed variance explanations and ensured consistency and compliance to Sarbanes-Oxley. Researched and benchmarked key U.S. economic metrics against business financials for improved financial reporting/validity and to align metrics with economic climate. Evaluated competitor financials and created quarterly estimates and comparisons that provided clear snapshot on market and business fit for executive and finance managers. Strengthened Chinese alliance by developing and presenting best practices on U.S. credit card financial processes and structure; participated in successful live meeting via interpreter. (4 Years)

VANCE E. DAVIS
MBNA, Wilmington, DE, 20002005 (acquired by Bank of America in 2006) ManagerStrategic Reporting, U.S. Card Division (20042005)

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(5 Years)

Selected to newly created department that provided analytical support for $75B in assets for the marketing team. Worked in partnership with marketing, technology, and finance leaders to devise and establish monthly profitability statements, scorecards, analyses, and commentary for each segment of the U.S. portfolio. Established financial performance management system for three subdivisions of the marketing group that enabled executive leaders to pinpoint problems and successes on business performance for better decisions. Significantly reduced financial cycle time 20% or four days within the strategic reporting group. Received formal commendation from senior managers for technology efforts. Finance DirectorCustomer Satisfaction Operations (2004) Managed department responsible for customer service, billing disputes, and fraud claims and detection. Provided monthly reporting, forecasting, budgeting, and strategic plan financials and analysis. Administered a $300MM+ expense budget for 2,400 staff. Presented annual budget with zero percent increase over previous year despite 10% anticipated call volume increase in coordination with operations team. ManagerPlanning and Implementation, Corporate and Strategic Planning Group (20002004) Recruited by former supervisor at Citigroup to consolidate the U.S., European, and Canadian consumer and business lending businesses and to lead the planning and control function for the entire business. Prepared consolidated financials for senior management. Provided corporate-level financial analysis to establish strategic plan targets and resource allocation. Enhanced corporate/investor confidence through standardized controls and enhanced reporting of financial results, plans, forecasts, and monthly risk/opportunity updates. Partnered with IT to advance management reporting from Excel to Essbase, including distributed input/output capabilities. Initiatives were successfully embraced and still remain in place.

PREVIOUS EXPERIENCE
CFO SERVICES INC., Management Consultant CITIGROUP Reporting ManagerAT&T Universal Card Implementation ManagerGlobal Transaction Services Financial Analysis and Reporting ManagerEurope and North America Credit Cards CITICORP REAL ESTATE, INC., Regional Financial Controller CITIBANK, Corporate Reporting Team Leader ARTHUR ANDERSEN & COMPANY, CPA, Senior Auditor (1 Year) (15 Years) (3 Years) (1 Year) (5 Years) (1 Year) (5 Years) (2 Years)

EDUCATION | PROFESSI ONAL DEVELOPMENT

HARVARD UNIVERSITY B.A., Economics 1980 WHARTON SCHOOL OF BUSINESS, UNIVERSITY OF PENNSYLVANIA M.B.A., Accounting and Finance 1982 Certified Public Accountant (CPA), New York State 1984