SCI ACCOUNTING
PROJECTS UNDERTAKEN
Below is a brief description of some of the more challenging accounting projects we've undertaken over the past 20 years (actual company names are not shown).
ABC Insurance Company - Somewhere, Illinois
This was a small medical malpractice insurasnce company that went into supervised run-off. We were asked to step into the shoes of management by having John Snyder contract as the company's CFO. For over 6 years John was responsible for all of the client company's accounting and reportting and was also responsible for its day-to-day activiites as the operaiton wound down. This included selling its real estate, leasing space back and dealing with auditors, actuaries and state regulators. The run-off was deemed a success by the owners and regulators and John was named as being responsible for that success.
DEF Insurance Company - Somewhere, MI
When this company lost its Controller, they turned to John Snyder to provide expert support for its stautory accounting and reporting needs. That included developing complex spreadsheet applicaitons to be used in the company's quarterly and year-end closing cycles and to develop a very sophisticated model to be used for selecting its loss and LAE reserves and doubling as a management tool for monitoring loss and LAE development. John was also asked to assume responsibility for billing and collecting the company's insurance policy deductibles due from its insured's claims. Overall, what started as a planned short term relationship stretched to over 6 years of dedicated service. John left with high praise from the company's senior executives, including the company's Pesident and CFO.
GHI Insurance Company- Somehere, PA
This company contracted with SCI-Accounting to have John Snyder step into management's shoes as its Acting Director of Accounting and be responsible for the accounting and reporting for the 3 companies making up the insurance division and to supervise and manage all accounting staff. Many of the accounting rountines had derailed and were way off track. John tackled those issues and worked with the company's President and Board of Directors to identify needed resourcers to help right the ship and get missing routines back on track. John devoted a tremendous amount of effort to get this job done and did so with his usual sense of calm, laser focus and determination. Deadlines were met, obstacles overome and needed changes were made to critical accounting routines to get the "train" back on track. Among the challenges - dealing with a new ledger system and the conversion of 2 claims systems into a single system and the consequences of migrating an off-shore capitve operation to that of an onshore domestic insurance company operation with staff that had no domestic statutory acocunting and reporting experience.
JKL Insurance Company - Somehwere, IL
This insurance company was seeking a new, experienced CFO and contracted with SCI-Accounting to have John Snyder come aboard as their CFO and Treasurer. Working both on site and from his office in Streamwood, IL, John provided accounting and operations support. Among his accomplishments, John immediately updated their claims data gathering process for the acconting cycles and reduced it to a simple data extraction process which was then run through a model John developed and tailored to that company's needs. This facilitated quicker financial closing cycles and freed up the accounting manager to devote her time to other matters. John also improved their investment procedures and moved the company to a better platform that enhanced and made the related investment accounting cycle much more efficient.
