William M. Wright II, CPA, Finance Expert in Chesapeake, VA, United States

William M. Wright II, CPA

Finance Expert

Location
Chesapeake, VA, United States
Toptal Member Since
May 5, 2017

William is a trusted finance and business leader for small and mid-market companies in a wide array of industries. His success as a CFO includes assisting a motorsport startup raise $50 million in seed funding, assisting $1 – $3 billion financial services, media, and technology entities grow long-term value by conducting M&A due diligence and decision support analysis as well as improving finance operations in numerous SMB organizations.

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Career Highlights

Outsourced CFO and Controller/Owner
W.M. Wright Consulting
Vice President of Finance
Xenith Bankshares, Inc. (f/k/a Hampton Roads Bankshares, Inc.)
Chief Financial Officer
Chartway Federal Credit Union

Education

Master of Business Administration (MBA) Degree
Regent University
Bachelor's Degree
University of New Haven

Select Certifications

Certified Public Accountant (CPA)
Commonwealth of Virginia Board of Accountancy (#21414)

Case Studies

Image of Startup Financial Model project
Startup Financial Model
Financial ModelingEnterprise Startups
Image of Investor Pitch Deck project
Investor Pitch Deck
Pitch DecksEnterprise Startups
Image of Investor Analyst Presentation project
Investor Analyst Presentation
Investor PresentationsInvestor Relations

Industry Expertise

Accounting ServicesFinanceBankingInsuranceMedia & InternetFinancial ModelingStartupsConsulting

Other Expertise

CFOConsultingFinancial Planning & Analysis (FP&A)Financial ReportingInvestment Decision SupportMergers & Acquisitions (M&A)

Work Experience

2017 - PRESENT

Outsourced CFO and Controller/Owner

W.M. Wright Consulting
  • Generated $50 million in seed capital funding for regional sporting and entertainment development; created business plan, proformas and pitch deck as well as conducted investor presentations and provided CFO advisory services.
  • Accelerated financial recovery of a $22 million regional media company; assessed debt and cash flow issues; provided analysis and recapitalization strategies.
  • Contributed to improved financial management of a $9 million non-profit organization; instituted process improvements and improved financial analysis; provided CFO advisory services.
  • Expanded a $5 million technology firm by doubling the revenue base through acquisition; formulated business plan and proformas for the capital raise.
  • Introduced a redesign of accounting processes, budgeting, cash flow forecasting, and investor financial reporting for a $4 million independent film production company; provided CFO advisory services.
  • Improved the profitability of a $1 million regional transportation company by 40%; developed the asset utilization study, profitability analysis, and cash flow forecast; provided CFO advisory services.
Focus areas: Mergers & Acquisitions (M&A), SEC Financial Reporting, Internal Financial Reporting, Financial Reporting, Budgeting, Cash Flow Forecasting, P&L Forecasting, Financial Planning & Analysis (FP&A), Financial Management, Financial Systems, Accounting Modernization, Asset Liability Management (ALM), Process Improvement, Decision Support, Strategic Planning & Execution, COO, Interim CFO
2013 - 2017

Vice President of Finance

Xenith Bankshares, Inc. (f/k/a Hampton Roads Bankshares, Inc.)
  • Eliminated inefficiencies in SEC reporting processes reducing production time by 25%; selected and implemented superior technology solution; improved overall production process and quality of SEC reports (10-K, 10-Q, 11-K, 8-K); revamped regulatory compliance processes.
  • Streamlined annual capital and operating budget process reducing time to complete by 33%; with improved reporting functionality for all levels of management and board.
  • Maximized accounting accuracy, timeliness, and audit results for a $600 million mortgage subsidiary; assessed and redesigned accounting processes and procedures.
  • Decreased tax provisioning and asset/liability valuation by 25%; resulting from redesigned internal tax planning and compliance procedures.
  • Minimized operational disruption by serving as contributor to post-merger integration team.
Focus areas: Mergers & Acquisitions (M&A), Financial Planning & Analysis (FP&A), Asset Liability Management (ALM), Budgeting, Financial Management, Financial Modeling, Strategy, Board Reporting, Board of Directors, Financial Reporting, Regulatory Reporting, SEC Financial Reporting
2011 - 2013

Chief Financial Officer

Chartway Federal Credit Union
  • Optimized loan portfolio returns by negotiating and completing $325 million in multiple consumer and first mortgage loan participation arrangements.
  • Increased overall book yield by over 50% in a $500 million investment portfolio through realignment and diversification.
  • Delivered a controlled expansion of business loan portfolio from 3% to 6% of the total loan portfolio.
  • Added a financial analysis function, providing new insights into a line of business profitability and improved corporate decision-making.
Focus areas: Board Reporting, Board of Directors, Price Analysis, Budgeting, Portfolio Analysis, Mergers & Acquisitions (M&A), Financial Reporting, Corporate Finance, Finance Strategy, Financial Planning & Analysis (FP&A), Lending, Asset Liability Management (ALM), Investment Portfolio Management
2009 - 2011

Owner/CFO Consultant

Principled Advisory Services/William M. Wright II, CPA, LLC
  • Founded and operated an independent CFO consulting business serving small and mid-market enterprises, assisting organizations in all stages of the business life cycle to work through strategic and operational challenges.
Focus areas: Process Improvement, Financial Management, Strategy, Financial Reporting, Financial Planning & Analysis (FP&A)
1997 - 2008

Division President; Division VP; CFO; Controller; HR Director

Virginian-Pilot Media Co.'s (division of Landmark Media Enterprises, LLC)
  • Produced 20%+ IRR on capital improvement funds; increased production capacity, improved efficiency, and generated 10% revenue growth; completed project under budget and on time.
  • Orchestrated growth in market reach from 23% to 40% in less than 18 months; aggressively competed for and won 33% more government contract awards.
  • Grew division revenue and profits by 300% by negotiating and completing two acquisition after analyzing almost two dozen deals.
  • Achieved 25% growth in subsidiaries revenue and profits through acquisitions; conducted financial and operational due diligence and ROI analysis.
  • Gained double-digit productivity gains in the accounting and finance department by shortening monthly close by 33% and reducing budget process by 50% through improved technology. Streamlined procedures and hired high-performing talent.
  • Reduced employee turnover and legal costs by 20%, through heightened focus on employee relations, benefit administration, leader development, and work environment.
Focus areas: Ratio Analysis, Debtor & Creditor Management, Discounted Cash Flow (DCF), Due Diligence, Market Research, Cost Efficiency, Cost Reduction & Optimization, Market Opportunity Analysis, Financial Systems, Budget Controls, Revenue & Expense Projections, Project Finance, Working Capital Management, Mergers & Acquisitions (M&A), Profitability Analysis, Cash Flow Forecasting, P&L Forecasting, Budgeting, Finance Strategy, Corporate Finance
1991 - 1996

Financial Manager

NLC Insurance Companies
  • Served as Corporate Finance leader for a $40 million New England region property/casualty mutual insurance company. Led Accounting and Finance teams and served as a member of the company’s investment committee.
  • Maximized investment returns on a $45 million portfolio of securities.
  • Developed tax-planning procedures to minimize liability and improve cash flows.
  • Developed and maintained internal financial analysis reports to assist management with critical business decisions.
  • Developed and maintained external reporting procedures for statutory and GAAP purposes, and delivered training to non-financial managers.
Focus areas: Business Taxation, Investment Summaries, Accounting Consolidation, Accounting Modernization, Finance Strategy, Data Analysis, Corporate Finance, Financial Systems, Portfolio Management, Portfolio Analysis
1986 - 1991

Tax Manager; Tax Associate; Staff Auditor

PricewaterhouseCoopers & Barron Gannon & Co P.C.
  • Participated in numerous independent audit assignments.
  • Provided tax planning and compliance services for corporate and individual clients.
Focus areas: Management, Audits, Fairness Opinion Reports, Individual Tax, Business Taxation

Education

2004 - 2007

Master of Business Administration (MBA) Degree in eCommerce

Regent University - Virginia

1981 - 1986

Bachelor's Degree in Accounting

University of New Haven - New Haven, Connecticut

Certifications

DECEMBER 1996 - JUNE 2021

Certified Public Accountant (CPA)

Commonwealth of Virginia Board of Accountancy (#21414)