MANAGEMENT TEAM BIOS
Scott L. Grossfeld, President and Chief Financial Officer
Scott Grossfeld is a visionary financial executive with over 20 years of successful accounting, finance and operational experience including: design and implementation of accounting policies, procedures and systems; cash management; business development/modeling; sales and marketing; and debt/equity financing. Mr. Grossfeld is known for being analytically strong, with a clear sense of key business issues and goals. He is a proven problem identifier with the ability to find creative solutions and demonstrated strategic planning and organizational skills with extensive supervisory experience.
Mr. Grossfeld is currently the Chief Financial Officer of Living Benefits Financial Group, LLC,. During his tenure, over $3 billion in policies have been originated and analyzed with approximately $165 million of policies purchased and managed. Mr. Grossfeld has worked directly with Wall Street financial analysts to develop an institutional funding mechanism and five-year business plan, worked with outside accounting, legal and tax professionals to research and resolve complex tax, reporting, regulatory and structural issues, and developed and delivered presentations to rating agencies, private investors and strategic partners.
Mr. Grossfeld previously served as the Chief Financial Officer and Vice President of Operations for Gurstel, Staloch and Chargo, P.A. (GSC). He managed over 100 employees in the firm's Minnesota and Arizona offices. His main focus was on the development and execution of a 5-year growth plan and the development and enhancement of operational systems and processes to maximize efficiency and profitability.
Prior to his time with GSC, Mr. Grossfeld consulted for Ameriprise Financial and Ameriprise Bank on Sarbanes Oxley Section 404 processes and he led a team of accounting and operational consultants to identify and eliminate operational problems within the loan servicing department of another federally chartered bank.
Mr. Grossfeld earned his CPA license during his tenure with the Minneapolis office of the Big 4 accounting firm of KPMG Peat Marwick and is a current member of the MN Society of CPAs and the American Institute of Certified Public Accountants (AICPA). Mr. Grossfeld holds a B.S. in Accounting from Pennsylvania State University.
Mr. Grossfeld's specific areas of experience include:
Operations/Systems
- Implemented and maintained accounting systems for numerous entities.
- Negotiated and reviewed contracts, leases, and licensing agreements.
- Worked with MIS to develop and maintain proprietary management reports and operating systems.
- Led IT governance committees to establish and manage project deadlines and priorities.
Auditing/Internal Control/Process Mapping
- Received extensive training and hands-on experience at a Big 4 accounting firm compiling and auditing financial statements and management reports for medium-size to Fortune 500 clients.
- Member of a best practices integration team pursuant to $3 billion merger/acquisition.
- Created departmental policies and process manuals.
- Conducted internal audits within entities and as an outside consultant.
- Developed and documented internal controls for numerous entities in various industries.
Budgeting/Forecasting/Financial Analysis
- Compiled monthly, quarterly, and yearly financial budgets and forecasts.
- Developed variance reports designed to maximize revenue and tightly control profit margins and overhead expenses by product line, project or customer, as applicable.
- Delivered quarterly financial presentations to Boards of Directors.
- Developed extremely detailed business plans and financial models with Wall Street firms.
Treasury
- Developed and managed relationships with investment banking firms and financial institutions.
- Delivered financial presentations to potential investors, lenders and investment firms.
- Responsible for all investor and banking relationships and correspondence.
- Worked with legal departments to maintain corporate records and develop strategic contracts.
