Michael Seltenreich Email & Phone Number

Transformed IT Financial Management governance & control, FP& A, Multi-year Strategic Planning, Cost Transparency & Consumption reporting across Technology, Corporate Finance, & Business Unit Stakeholders. Enabled understanding of the Cost of IT services and Total Cost of Ownership "TCO.”• Sharpened the focus of IT spending and consumption by technology, business divisions, and G&A; working together, achieved cost savings without compromising the quality of operations performance. • Created functionality & data structure designs and managed the development of a TBM Cost Transparency & Allocation application. Presents real-time technology costs categorized by a standard taxonomy to understand spend and enable data-driven decisions.• Integrated ERP Financial data with data downstreamed from other systems (i.e., SAP, Ariba P2P, Azure/Google Cloud, ServiceNow, Workday) to provide cost transparency, consumption-based information to understand IT costs by service & purpose. Supported benchmark (Gartner) and KPI analytics aligned with best practices. • Developed bespoke dashboards for Business and Technology leadership, accelerating financial maturity within nonfinance functions to understand the Cost of IT services and Total Cost of Ownership "TCO." Streamlined the IT Leaderships Teams’ efficiency & accuracy in creating accurate budgets, forecasts, and automated variance analyses. ** Technology Business Management “TBM” Council (Apptio Sponsored) 2022 Finalist for the IT Financial Leadership Award

Focused on finance, technology, and underlying operations for various clients in banking, manufacturing, healthcare, real estate land development, and other service industries. Enabled investment decision-making and optimized company spend to maximize profitability through Corporate Tax strategies. Provided forward-looking financial views and cash flow modeling to support investment decisions in increasing net worth valuation

San Francisco, California, Us

Spearheaded the strategic financial transformation across Enterprise Technology organization to improve cost transparency and management control through implementing solutions across a de-centralized and matrix Technology organization.• Enhanced project management costing through improved project portfolio structure and process, increased quality of time & expense recorded against project tasks to achieve accurate costing and allocation to Business LOBs reflected in Qlik - generated dashboard reporting. • Enabled Technology and Business Partners to view current and historical costs at a granular level not previously available—increased cost transparency validating project plans, milestones, and the accuracy of allocated resource contribution costs.• Created specifications design document for capturing data from Data Warehouse Databases to support robust cost reporting in QLIK. Apptio BI implementation leveraged this data table & field mapping. • Designed an "end-to-end" operating process to improve financial management and governance of multi-millions in Statement of Work contracts, including integration with financial payable payment ledgers. Prevented duplicate payments to vendors and improved forecasting.

Frankfurt Am Main, Hessen, De

On-boarded to enhance financial management control and reporting. A comprehensive approach advanced enterprise-wide transformation initiative focused on cost transparency to achieve expense optimization in the Technology Division and with Business Partners (Trading, Operations, Finance)—achieved multi-millions in cost reduction.• Increased governance and accuracy of all financial management reporting (Multi-Year Strategic Plan, Budget, Forecast, Variance analyses, Allocations)• Conceptualized Strategic roadmap for Cost Transparency initiative with Business Partners and Technology. It resulted in a collaborative partnership with the Business to achieve cost reduction and a re-baselined priority of technology spending. • Designed and created financial models sourced from Oracle GL, Data Warehouse Databases, and other disparate systems (i.e., Time Mgt. Sys) with dashboard reporting & supporting metrics to tune technology services, aligned Technology initiatives with Business revenue, regulatory, and risk objectives. This new capability enhanced partnership with Business Leadership and all back-office support functions.• Developed new Intercompany Allocations Methodology framework to ensure fair allocations to Business P&Ls. Change in methodologies embraced by Commerzbank Group in Frankfurt and other EU regions. Reduced charge back from Frankfurt to North America by $7M or 15%.

Zurich, Ch

• COO role managed financial and operational functions for Global FI Technology with a $225MM budget and 850+ resources.• Provided advanced resource modelling guidance to Technology Management Team to improve & support workforce strategy execution. Critical hiring control, off-shore/near-shoring deployment, and outsourced vendor consulting costs were optimized and significantly reduced.• Collaborated with the Project Management Office (PMO) to ensure that the application development programs and projects were executed as planned (i.e., AGILE, SDLC) Achieved by integrating the PMO portfolio human capital resource demand and program delivery plans with monthly cost accounting, which improved the accuracy of budgeting and forecasting.

Zurich, Ch

• Conceived and directed a cost transparency initiative across Technology to support Global CFOs and COOs in Investment Banking, Private Equity, Client Bank, and Equity Research Business Product Divisions to understand app development and infrastructure costs charge-back. • Identified cost drivers and facilitated meetings with Business Stakeholders and Technology owners to validate service alignment with bank strategic growth strategies while identifying cost efficiencies. Reduced IBD Division expenses - achieved multi-millions in cost reduction.• "Face for Technology" with CFOs and COOs of Business Divisions during the transformation from a vertical silo to an enterprise shared service organization.• Member of IT Strategic Task Team that established the first global "PMO" function in the Technology Division, which was responsible for managing $1.5 billion in global application development projects.

• Managed all functions of financial management (MYP Budget, Forecast, Internal & External reporting, Cash management, Tax, and Audit) entailing 65 staff in Finance, Technology, & Insurance operations.• Partnered with President to achieve a Strategic Business Transformation. Applied business model optimization strategies to fundamentally redesign the operating models of businesses that were not profitable, carefully considering products, client segmentation, delivery, service requirements, and which resources are required to deliver a distinctive client experience• Designed and established a centralized "Shared Service" insurance operation to service all back-office functions for divisions located across the US. Directed the re-engineering & streamlining of insurance operations. Sharpened focus on new business and client service resulting in a 25% reduction in costs. Eliminated processing of insurance policy renewal backlog which reduced operational and financial risk.• Directed the implementation of a new insurance application system into all profit centers with a "Top-Down" and "Bottom-Up" approach. Worked closely with the vendor to modify functional software requirements to support re-engineered workflow processes.• Increased net profit through business acquisitions. Integrated acquisitions and start-ups both from a financial and operational standpoint. Performed due diligence for company acquisitions and roll-ups. Developed IRR valuation models to support acquisition price and rate of return objectives.