Allan Foster has over 20 years of strong, extensive leadership and analytical experience in the mutual fund/hedge fund industry focusing on fund accounting and investment operations arena with an outstanding track record as a team leader and a top performer.
Allan Foster 1691 Alvarado Ave. Unit 29 Cell (415 706 9815) Walnut Creek, CA 94597 firstname.lastname@example.org Objective: Director of Investment Fund Accounting or Operations in a financial services firm Summary: Over 20 years of strong, extensive leadership and analytical experience in the mutual fund/hedge fund industry focusing on fund accounting and investment operations arena with an outstanding track record as a team leader and a top performer. Strong hands-on current technical knowledge in all areas of fund accounting including administration and operations with a business minded bottom line view. Extensive hands-on expertise includes fund financial statement preparation and review, calculation of N.A.V., capital allocations, SEC audits, firm and fund audits, tax, GIPS performance standards, legal matters, fund and firm compliance and reporting. A very successful and consistent track record in working directly with clients, auditors, prime brokers and outside administrators on a daily basis to ensure the highest quality services possible in a partnership type environment. Experience includes trading stocks, bonds, forward currency contracts and other derivative instruments. Four years as a global fixed income analyst focusing on such areas as asset allocation, performance attribution and analysis, daily portfolio analysis, projects, risk management monitoring and reporting to the board. A consistent & successful track record of turning unstable and underperforming operation departments into strong efficient ones that ultimately becomes self-supporting. Experience includes internalizing fund rd accounting with 3 party accounting systems and analytical systems for the front office. Experience includes accounting and pricing virtually every type of asset that Wall Street has created. Possess excellent ability to interact with all levels of staff and management under difficult situations and tight deadlines. I have consistently received either monetary, stock or employee recognition awards as a top performer at each firm. I am highly respected by CPA and SEC personnel who have worked with me. Professional Experience: Consultant – Self employed 2009-Current Financial advisor, hedge fund – operations and administration consultant, compliance, trader, and personal tax services (Registered with IRS and CTEC in California as a CRTP) and have FINRA (NASD) Series 65- Investment Advisor LUMEN ADVISORS LLC (Investment advisor – hedge fund – San Francisco) 2003-2008 (A startup company) CFO, CCO and COO Actively managed all operations of the business, including the finances of the firm. Responsibilities also included personnel, payroll, employee benefits, legal matters, fund and firm compliance, soft dollar and personal trade compliance, currency trader, client meetings and presentations and third party vendor relationships of the firm and the funds. Oversaw the pricing of the securities of the funds, separate accounts and audits of the funds including financial statement oversight and preparation and tax return oversight and preparation. Prepared and filed SEC filings and updated prospectus filings, reviewed monthly NAV packages, capital allocation client statements, handled complex trade settlement issues and was the direct report for overseeing an SEC routine audit examination of the firm in 2008. Demonstrated strong analytical ability and consistent track record to resolve issues in a quick manner and in the best interests of the client and the firm. Managed client relationships for the firm and maintained a prospect contact client list. Never had a default of a portfolio investment, counterparty or firm obligation on my watch or an inaccurate valuation of a security in 5+ years with the firm. Clients and owner had 24 hour access to me as main owner traveled frequently around the world and firm had clients located in Europe and Asia. Allan Foster WELLS CAPITAL MANAGEMENT INC. (Subsidiary Wells Fargo - investment management – S.F.) 1999-2002 Fixed Income Performance Attribution Analyst Created the fixed income analytical tools and data used to calculate attribution and portfolio analysis for fixed income products. Built quantitative tools to better define the investment process for the firm for equity and fixed income products. Software systems used and or evaluated included Salomon Yield Book, Lehman Point, CMS Bondedge, Investortools Perform, Bloomberg, Wilshire Axiom, Zephyr, and the accounting system from Axys and Moxy from Advent. Provided recommendations to improve performance including which portfolio managers to terminate and to bring in a new accounting system to replace Axys and the lead system under consideration was PAM. Head of Investment Operations Stabilized and grew operations department from 6 people to approximately 30 people over 18 months for a firm with over 100 billion in assets under management which included liquidity accounts for firms’ clients short term cash needs, and long term investment in equities and fixed income. Trained and developed inadequate staff and portfolio managers how to use Advent accounting, several staff are still there today years after my departure. Created a performance department that included marketing literature that was GIPS compliant with reporting standards that are still in use today. Drastically reduced trading errors and when they occurred to turn them into profitable trades. Drastically reduced security settlement fails including international trades to less than 1%. Selected as 1 of 5 star employees of the firm for the year 1999 with total employees of the firm over 100. OPERATIONS SOLUTIONS INC. (Self employed – Full time client: Wells Capital Management) 1998-1999 Consultant – Investment Operations Proactively managed the daily operations of the international investment team’s back office for the client. Consulted on all matters of the client concerning investment operational issues and reported to one of the 9 senior members of the management committee of the firm. CAPMAC INVESTMENT MANAGEMENT INC. (Investment management – San Francisco) 1997-1998 (A startup whose parent was acquired by MBIA) Vice President of Investment Administration Managed the daily investment accounting operations and all other administrative tasks of the firm. Responsible for the daily operations of trade settlement, portfolio valuations, currency trading and some basic IT issues. Monitored compliance of separately managed accounts, assisted in writing a CBO prospectus and the preparation of the filings of quarterly ADV reports. Lead manager in evaluating the feasibility of purchasing SunGard for firm’s fund accounting and reporting system. LIECHTENSTEIN GLOBAL TRUST (Formerly G.T. Global Inc. - investment management – S.F.) 1990-1997 (Acquired by Invesco Management Group, Inc.) Global Fixed Income Analyst & Director of Fixed Income Compliance 1994-1997 Manager of the Bond Portfolio Analytics Department Chairperson of the Counterparty Credit Risk Committee Investment Member of the Complex Securities Committee Quarterly reporting to the board of directors with focus on derivative usage, gain/loss on open positions and net return on strategies employed. Month end review of several offshore UCIT funds’ valuation for accuracy. Allan Foster Monitor tax issues such as return of capital, wash sales, and capital gain distributions and maintain competitive monthly dividend payouts for the firm’s bond funds. Assisted in the creation of a fixed income database for the department. Fund Accounting Manager/Assistant Treasurer 1990-1994 Responsible for all day to day fund accounting and operational issues for 9.2 Billion in assets in 23 mutual funds consisting of 85% international and 15% U.S securities. 6.5 billion were invested in equities, 1 billion in emerging market debt and 1.5 billion invested in other bonds, options, exotic derivatives and foreign currency hedges. Managed a staff of 11 direct reports and 4 indirect. Primary contact to upper management, legal department, outside auditors and custodian. Managed the production of financial statements up to the distribution of reports to the shareholders as well as the EDGAR filings to the SEC for the mutual funds. Assisted in the increased procedures implemented in the daily and monthly compliance review package of the funds. Co-project manager of internalizing fund accounting from outside third party vendor State Street Bank. Lead evaluator of different accounting systems and brought in system that was not on list when project was started. Implementation was smooth and successful and saved the firm at least $1,000,000 annually. Redesigned format and content of all mutual funds annual and semi-annual financial statement reports in addition to the preparation and review of the reports and work papers to the auditors for test and express an opinion on. THE BOSTON COMPANY (Mellon Bank – registered investment company – Boston, MA) 1988-1990 Fund Accounting Manager Responsible for all daily fund accounting and compliance issues of equity mutual funds from other investment firms including Arch, Galaxy, American Express and The Merger Fund as the firm was contracted as the outside fund administrator for their funds. Managed a staff of 4 accountants. Acted as the day to day liaison to the outside clients and provided ad-hoc reports quickly and accurately. Continuous training and development of staff to be promoted across the asset management groups. THE PIONEER GROUP, INC. (Registered investment company – Boston, MA) 1987-1988 Senior Fund Accountant Reviewed fund accountants and trade processing clerks work daily. Prepared audit work papers and mutual fund financial statements. Assisted in the conversion from a manual accounting system to an outside vender system Shaw. Released N.A.V. prices on a nightly basis to NASDAQ. PUTNAM INVESTOR SERVICES, INC. (Registered investment company – Boston, MA) 1986-1987 Fund Accountant Maintained the daily records on two of the most complex mutual funds at firm, GNMA-PLUS and a closed end fund invested primarily in payment in kind and convertible bonds. Created and implemented new accounting policies and procedures. Trained new employees and was routinely without a direct supervisor. Education: B.S. Degree in Accountancy, Bentley University – Waltham, MA Prestigious EQUIS accreditation 1 of 2 business schools in U.S. and AACSB international accreditation Associate Degree in Management, Bentley University – Waltham, MA Candidate for Masters Degree in Finance – finished over 1 year in program before moving to West Coast Financed 100% of my educational cost through loans, scholarships and employment
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