ERICA MADDEN, FMAAT, ACCA

PROFESSIONAL QUALIFICATION

·         Association of Chartered Certified Accountants (ACCA) 2001

·         Seventeen years of professional experience, starting as an Assistant Accountant with Guardian Life Limited in Jamaica, accepted an offer in April 2006 and joined American International Reinsurance Company Limited in Bermuda as Deputy Comptroller and was transferred to Reconciliation Manager in February 2008.  Joined Expertise Limited in January 2011 as a Senior Qualified Accountant and in May 2012 I joined Kane LPI Solutions Limited as LPI Accounting Supervisor and was transferred to Senior Fund Accountant LPI in March 2015.

·         Association of Accounting Technicians

·         Life Management Institute Association (LOMA) Parts 280, 290, 361 & 371

PROFESSIONAL EXPERIENCE

Kane LPI Solutions Limited, Bermuda

Senior Accountant LPI, March 1, 2015 to Present

·         Trade capture and recording of transactions, and reconciling cash and trade positions to prime broker statements

·         Recording of cash transactions and reconciling bank accounts

·         Pricing of Fund portfolio on a monthly basis

·         Recording income and expense accruals

·         Calculating management, advisory and incentive fees/allocations

·         Calculating the net asset values of each class or series of shares offered by the Fund on a  monthly basis

·         Preparation and distribution of monthly shareholder statements for the Fund

·         Preparation of annual financial statements of the Fund in accordance with US GAAP and facilitate the audit thereon

·         Check and approve monthly valuations for segregated funds

·         Check payment documents and approve daily online transfers on a timely basis up to a maximum of $10,000,000.00

LPI Accounting Supervisor, May 1, 2012 to February 28, 2015

The preparation of client management accounts in accordance with client requirements and deadlines, including taking responsibility for specific areas of the client accounting function
Provide assistance with year-end audits and regulatory reporting in accordance with required deadlines
Ensure financial control compliance
Review monthly bank reconciliations
Provide oversight of banking procedures handled by the treasury team
Review and provide recommendations for process improvement
Supervise and assist in process enhancements and implementation
Liaise with other client service providers (auditors, actuaries, lawyers etc.) as required
Assist with the preparation of client documentation and reporting
Provide general administrative services to client companies as required
Provide support to the management team with potential client presentations and new client implementation as required
·         Check payment documents and approve daily online transfers on a timely basis up to a maximum of $10,000,000.00

·         Calculate monthly mutual fund and commission receivables

·         Prepare monthly commission amounts payable to distributors

·         Report clients monthly bank balances

·         Review monthly unit reconciliations

Expertise Limited, Bermuda

Senior Qualified Accountant, January 24, 2011 to April 30, 2012

·         Responsible for providing clients with accounting and business consulting services on a secondment basis to address short-term resource issues.

Clients include:

o        Chartis Bermuda Ltd. – Duties include completing monthly and quarterly corporate reporting within tight reporting deadlines, create and post journal entries in the SUN general ledger system, completing ultimate reinsurer reporting which includes extensive and detailed reconciliations reporting to the Senior Vice President, Manager – Accounting and Finance; and

o         Bermuda Monetary Authority – Duties include managing the Accounts Receivable function, accounting for the Investment Fixed Income (Bond) Portfolio, supervising incoming wire transfers, transactions and associated reconciliations, computing all AR relevant data, assisting in preparing the monthly financial reports and budgets for the Authority’s Board and departments, reporting to the Assistant Director, Head of Finance and

o        Kane LPI Solutions Limited – Duties include preparing clients monthly management accounts and unit reconciliations, managing daily investment cash transfers, reviewing monthly bank reconciliations, calculating monthly mutual fund receivable and commission payable reporting to the Head of LPI Accounting Services

American International Reinsurance Company Limited, Bermuda

Reconciliation Manager, February 2008 to October 2010

·         Effectively manage a team responsible for substantiation of all balance sheets accounts

·         Review inter-company reinsurance journal entries

·         Review and sign-off all reconciliations

·         Identify un-reconciled differences and report them to management on a timely basis

·         Coordinate inter-company confirmations. Rectify any discrepancies that may exist

·         Review all balance sheet control procedures within the accounts department and make recommendations for improvements

·         Ensure that all staff complies with company policies and procedures relative to the reconciliations

·         Resolve problems and issues in a timely basis

·         Maintain effective and timely records of all inter-company balances

·         Ensure all corporate reconciliation status reports and exposure analysis are submitted in a timely manner

·         Assist with the maintenance of the general ledger accounts of all databases

·         Work with external and internal auditors as necessary

·         Check payment documents and approve cheque requisition for payment on timely basis up to a maximum of $50,000,000.00

Deputy Comptroller, April 2006- January 2008

·         Responsible for timely preparation of quarterly financial statements and supporting schedules

·         Correctly maintain the financial records (actual, plans and forecasts of AIRCO Life division. Provide a management discussion and analysis of results as required. Ensure that all accounts can be effectively reconciled and supported without issues. Any problems or un-reconciled items will be identified and reported to senior management in a timely manner

·         Correspond to resolve issues and answer queries with cedents, subsidiaries, affiliates and clients  as necessary

·         Ensure accounting support is provided to actuarial departments as needed

·         Resolve problems and issues in a timely basis

·         Assist as necessary with ad-hoc projects, reports and other duties as required

·         Maintain complete, accurate and current accounting records for all financial transactions recorded

·         Ensure compliance with applicable internal and statutory requirements and regulations

·         Work with external and internal auditors as necessary

Guardian Life Limited, Jamaica

Corporate Accounts, Assistant Accountant, August 1999- March 2006

·         Check and approve monthly blank reconciliations ensuring that all reconciling items are cleared promptly

·         Check and post journal entries to the Oracle system

·         Check payment documents and approve cheque requisition for payment on timely basis up to a maximum of $500,000.00

·         Provide any statistical or balance of payment data requested by the Statistical Institute of Jamaica, Bank of Jamaica or other similar overseas entities

·         Prepare monthly management accounts for the company, analyzing and explaining variances

·         Prepare financial statements and notes to the accounts

·         Check and approve audit schedules

·         Prepare documentation and statutory reports  on a timely basis to

– The Commissioner of Inland Revenue

– Securities Commission

·         Check and approve the fixed asset register

·         Prepare monthly reconciliation for Swiss Re statements

·         Coordinate the activities of the department and ensure the timely preparation of all reports originating from the department

·         Perform appraisal for all reporting staff members

·         Prepare department attendance report on a monthly basis

Jamaica Mutual Life Assurance Society, Jamaica

Assistant Investment Accountant

Investment Accounting Department, March 1999- July 1999

·         Check and approve monthly unit value for Pension Fund, Blue Chip Fund, Mutual Growth Fund and Shelter  Plus Fund

·         Supervise the maintenance of securities/stock certificate register

·         Check and post journal entries to the Oracle system

Senior Accounting Clerk

Investment Accounting Department, September 1995-March 1999

·         Calculated unit value for Pension Fund and Blue Chip monthly

·         Prepared investments and income spreadsheets, general ledger entries, cashbook and final accounts for Pension Fund

·         Maintained securities/stock certificate register

·         Prepare bank reconciliation and cash flow statements in both local and foreign currencies

·         Organized and managed accounts payable for the Belize Branch

Senior Payroll Clerk, March 1994- August 1995

·         Calculated and prepared payroll and payroll related deductions for the administrative staff

Accounting Clerk- Payroll and Commissions, January 1992- February 1994

·         Prepared all payroll related entries and analyzed and reconciled all payroll related general ledger accounts

Posting Clerk- Premium Accounting, July 1990- January 1992

·         Received and posted premiums collected through salary deduction

Ministry of Labour, Welfare and Sport, Jamaica

Accounting Clerk, August 1986- July 1990

·         Prepared cheques for government pensioners

Computer skills

Ø  Microsoft Dynamics Great Plains

Ø  IMS

Ø  SUN General Ledger

Ø  Genius

Ø  Vision and Vision XL

Ø  Cognos Impromptu

Ø  Eco

Ø  Oracle Financials

Ø  Microsoft Office Suite including Forecaster

Ø  Quattro Pro

Ø  Lotus 1-2-3

Ø  Word Perfect

Ø  INTERNET Access and Electronic Mail

Accomplishments

Assisted in computerizing Mutual Life’s Pension Fund Accounting from a manual system, thereby significantly reducing the preparation time

Successfully managed and supervised the preparation of a comprehensive procedures manual for the AIRCO’s Reconciliations Unit

Assisted and supervised in the preparation of a procedures manual for LPI Accounting

Developed procedures manual for all task performed by the BMA’s Assistant Financial Controller – Accounts Receivable

Successfully managed and supervised a project to include account description on all of AIRCO’s approximately 500 balance sheet reconciliations which provides an adequate understanding of the account’s nature, purpose, activity and sources of transactions

PERSONAL

Nationality:                  Jamaican

Marital Status:               Single

Address:                      Upper Apartment

92 Spice Hill Road

Warwick Wk 02

Bermuda

EXTRA CURRICULAR ACTIVITIES

v  Sports and Health enthusiast

v  Past President of the Sundown Park Citizens Association

REFEREES

Miss Tanya Esdaille

Compliance and Money Laundering Reporting Officer
Kane LPI Solutions Limited

4th Floor, Cumberland House
1 Victoria Street

Hamilton, Bermuda
Telephone -: 441-248 6828

Cellular -: 441 705 6805

Mrs. Lora Miller-Brangman

Vice President, Operations

Rosebank Branch

The Bank of N. T. Butterfield & Son Limited

Hamilton, Bermuda

Telephone -: 441-298-4732

Cellular -: 441-524-2052