Director Investment Accounting Operations in San Francisco CA Resume Allan Foster by AllanFoster1


More Info
									                                              Allan Foster
1691 Alvarado Ave. Unit 29                                                                   Cell (415 706 9815)
Walnut Creek, CA 94597                                                      

  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
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)
     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
     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

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
    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.

    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

To top