Global Debt & Bankruptcies Soar: Why Trade Contribution Can Protect Your Balance Sheet & Assist in CECL Compliance

 General Information

Cost: FREE

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Registration Includes: One telephone and web connection at one physical location

Time

US: 3:00pm – 4:00pm ET
*Please remember the time zone differences if you are not on the East Coast.*

About the Webinar

With debt issuance up to record levels and big-name, big-dollar public bankruptcies on track to exceed the previous peak from the Great Recession in the 2009 annum, balance sheet risk from bad debt write-offs have never been higher. Under the recently implemented Current Expected Credit Losses (“CECL”) guidance, the Financial Accounting Standards Board (“FASB”) has required that trade receivables be adjusted to account for their expected bad debts using forward-looking predictive modeling rather than simply historical estimates. Join a trio of CreditRiskMonitor’s leading subject matter experts as they discuss how our industry-leading, forward-looking bankruptcy predictive analytics like the FRISK® and PAYCE® scores when combined with trade contribution, can significantly improve the working capital risk management and specifically address the compliance requirements of CECL.

About the Speakers

Michael Flum - Sr. Vice President & Chief Operating Officer - Michael Flum joined the Company on in June 2018 as Vice President of Operations & Alternative Data.  He was elected Chief Operating Officer in 2019 and is responsible for operational strategy and implementation leveraging technology to improve the efficiency of human capital and work processes. Prior to joining CreditRiskMonitor^®, Mr. Flum served as Vice President of Operations at Gullett & Associates, Inc., a Houston-based midstream oil & gas survey and drafting services firm from 2016-2017. Mr. Flum held various engineering and project management roles at Enterprise Products Partners, a Houston-based oil & gas pipeline owner/operator from 2009 to 2016. During his time in the oil & gas sector, Mr. Flum successfully completed pipeline and plant projects totaling more than $1.3 billion dollars. He was also able to install processes which streamline service offerings and unify customer experience across teams. Mr. Flum holds an M.B.A. from Columbia Business School as well as a B.S. in Mechanical Engineering and a B.A. in Religious Studies from Rice University.

Steven Gargano - Sr. Vice President & Chief Financial Officer - Steven Gargano, CPA has more than 20 years of experience in financial services, product development, workflow optimization, operations, customer experience, and financial technology. Prior to joining CreditRiskMonitor, he was the Managing Director and Head of Financial Information & Risk Analysis for over $12B in assets at 1199SEIU Pension and Benefit Funds. Before that, he served as a Senior Managing Director and Head of Product Development and Customer Support for U.S. Bancorp Fund Services’ Alternative Investment Solutions division. Prior to that, he was the Managing Director and Head of the Planning, Strategy, and Implementation Group for the Accounting, Finance, and Back Office groups at Mariner Investment Group. Prior to joining Mariner, he worked at Deloitte & Touche within the firm's Investment Management Business Advisory Services consulting group in New York. Prior to that, he held the Product Controller position at Gabelli Asset Management responsible for managing the middle office and its functions for all alternative products and their respective trading activities. He started his career at Arthur Andersen working as an auditor in the Financial Service Industry Asset Management & Capital Markets Group specializing in brokerage and hedge funds. Recently, he served as Head of Finance & Operations for financial technology platforms specializing in creating technology and service models for private equity, hedge fund, wealth management, and service providers. Mr. Gargano is a graduate of Harvard Business School. In addition, he graduated with honors from Cornell University in Applied Economics, Management, and Accounting. He also serves on the board of Cornell University’s College of Business. He is a Certified Public Accountant and a participating member of the NYSSCPAs.

John Donovan - Sr. Credit Process Advisor and Trade Specialist - John Donovan is a Senior Credit Process Advisor specializing in Back-Office Services Performance Improvement to global Fortune 500 corporations in multiple vertical markets. Throughout his career, he has successfully guided and implemented corporate business process improvement initiatives, acquisitions, divestitures, back-office centers of excellence, and outsourced service centers. His broad experience across the order-to-cash and back-office operations continuum in over 20 different industry business environments bringing a unique perspective to the various aspects of the management of back-office processes and working capital and risk management. Before starting his consulting practice specializing in Business Process Management, John held Vice President and Senior Director level roles with Global Fortune 500 companies.

Webinar Access

Instructions to join the Webinar will be sent to the main registrant's email address the day before. Remember! please log-in at least 15 minutes prior to the webinar commencing to ensure ample time for technical assistance if needed.