PAUL B.

FOSBRE
9 Laurel Way
Madison, New Jersey 07940-1001
Home: 973.377 2543 Office: 973.377.6790 Cell: 973.647.4230
Email: Paulfos@msn.com

Summary: Financial and Accounting Policy Executive, with over 10 years of experi
ence. Expertise includes Internal Controls, US GAAP SEC Reporting, Accounting P
rojects, Sarbanes-Oxley and internal audit. Significant experience in Financial
Institutions and trained by Big 4 CPA firm.
Education: MBA, Accounting & Finance, Pace University, (with distinction) 1985 a
" GPA: 3.85
BBA, Public Accounting, Pace University, (cum laude) 1984 a" GPA: 3.64
Certification: Certified Public Accountant, New York State
Experience:
1995-Present Paul B. Fosbre, CPA, Madison, New Jersey
Principal Accounting Policy Advisor
Engagements:
aABN AMRO Bank North America Special Project
Senior Accounting Policy Consultant to ABN AMRO Amsterdam NV and the Chicago Off
ice for the sale of LaSalle National Bank NA to Bank of America. Responsibilitie
s include pension accounting advisory work (SFAS 87 SFAS 88, SFAS 132R SFAS 133
SFAS 166 167 IAS 39 and SFAS158) EITF Opinions and Fair Market Value Accounting
(SFAS 157) and review of IFRS accounting policies for ABN AMRO North America an
d divestiture of high yield investment note conduit transactions between ABN AMR
O NA and Deutsche Bank. NA Sale of consumer loans under SOP 03-3
Reports to Senior Vice President, Management Reporting
aGeller & Company CPAs Senior Accounting Policy Advisor
On Call Accounting Policy Advisor for both public and private companies for Acco
unting Policy projects. Responsibilities include accounting policy inquiries, SE
C comment letters, and quarterly SEC review of client financial statements and i
mplementation of new SFAS standards including fair market value accounting, SFA
S 140, SFAS 123R and FIN 46R. Review of client lease agreements and SEC Special
Purpose Acquisition Corporations (successful acquisition of $2 billion in new c
ontainer ships)
Reported to Managing Director
aSterling National Bancorp Senior Accounting Policy Officer.
Responsibilities include implementation of SFAS 123R Accounting for Employee Sto
ck Options, EITF 96-18 aAccounting for Instruments That are issued to Other Than
Employees for Acquiring, or in conjunction with Selling, Goods or Servicesa rem
ediation of internal control deficiencies, due diligence for acquisition of 2 ne
w companies, review of annual report and 10K and 10Q filings. Review of asset se
curitization issued under SFAS 140 aAccounting for Transfers and Servicing of Fi
nancial Assets and Extinguishment of Liabilitiesa SFAS 155 aAccounting for Certa
in Investments in Debt and Equity Securities.a Responsible for 10K SEC Annual R
eport Checklist and remediation of financial reporting issues.
Reported to Senior Vice President & Controller
aKPMG Financial Services LLP (Bearing Point) Senior Manager Accounting Policy
Implement SFAS 133 aAccounting for Derivative Instruments and Financial Hedging
Activitiesa and its subsequent revisions to SFAS 137 and SFAS 138 to convert Cre
dit Swiss First Boston from Swiss GAAP to US GAAP for SEC 20-F annual report and
financial footnote disclosure.
aCoordinated Accounting Policy merger of Donaldson Lufkin & Jenrette with Credit
Suisse First Boston Zurich Switzerland from a Project management perspective.
a Prepared and presented Power Point Slide presentations on SFAS 133 to accounti
ng and reporting staffs, Analyzed internal controls surrounding the determinatio
n of hedge effectiveness to the underlying foreign currency or interest rate bei
ng hedged, risk management issues and provided technical accounting memos to imp
lement new US GAAP. Also assisted in the preparation of footnote disclosures for
SFAS 133 for the annual report and SEC 20-F Filing.
aThe New York Federal Reserve Bank
Served as Senior Accounting Policy Advisor for NAIC insurance issues for The Tra
velers Insurance Company subsidiary of Citicorp and US GAAP Accounting Standards
, Regulatory Reporting Standards and Applications for cross border bank mergers
including the merger of Bankers Trust New York Corporation with Deutsche Bank NA
.
aServed as Senior Accounting Policy Advisor for Regulatory Call Reports changes
and industry impact of new
accounting developments. Trained and reported to Federal Reserve Bank Examiners
new accounting issues and standards for examination and review of member banks.
aAlso served as minutes and reporting secretary for teleconference calls with se
nior Federal Reserve Bank
Management Board of Governors and outside Federal Reserve Bank members. Also pro
vided assistance with the review of cross border merger applications and resulti
ng financial reporting impact.
aDeveloped a resource library of international accounting standards and practice
s as required by US Congress. Assisted in the implementation of the Basel II R
isk Based Capital Accords.
aResponded to Federal Reserve Bank Examiners questions on changes to the FFIEC r
eports and changes to US GAAP Accounting Standards.
aBarclays Bank New York Branch
Served as Senior Consultant for implementation of SFAS 133 and 125. Completed ex
isting accounting policies and developed new ones for the New York branch. Respo
nded to accounting policy questions and inquiries from external financial report
ing staff. Assisted in preparation of consolidated financial statements. Made pr
esentations to executive management on new SEC releases and financial reporting
issues.
aAlso responsible for providing technical research and response memos to senior
financial management regarding numerous accounting policy issues.
aAuthored numerous documents on Federal Reserve Bank regulatory reporting, GAAP
reporting, assets securitizations and corporate finance deals. In addition, auth
ored interest rate swaps accounting policy and hedge accounting treatment policy
. Implemented SEC and FRB reporting requirements for quarterly and annual 20F SE
C filings.
aOther engagements included: Sarbanes Oxley, Internal Audit, and Special Transac
tions for the following industries: Banking, Brokerage, Retail, Insurance, and B
iotech.
1990-1995 JP Morgan Chase, New York, NY
Second Vice President & Senior Financial Analyst a" Global Payments and Treasury
Services (1993 to 1995)
Senior Accounting Policies and Procedures Advisor (1990 to 1993)
aDeveloped accounting entries for electronic check processing, now ECHO, for The
New York Clearing House
aImplemented new overdraft reporting system which reduced process time 750 hours
annually and saved corporation over $25 million in suspense balances.
aServed as Controller Management Accounting Service Center for domestic correspo
ndent bank market and asset securitization market, Latin American corporate and
institutional markets, New York Foreign Agency Bank market and Canadian Bank Mar
ket.
aReviewed expense budgets, prepared strategic business plans, implemented new fi
xed income products, sweep products, and client billing on an annual basis. Advi
sed senior management on new accounting policies, products, and regulatory repor
ting issues.
aDeveloped corporate accounting policies and procedures for Global Payments and
Treasury Services, North American Trade Operations and the Lease Finance Divisio
n as well as Commodity Finance Division.
aImplemented corporate asset sales programs, and divestiture of $3 Billion US Le
asing Operations.
aAnalyzed and implemented new FASBas and regulatory accounting policy bank wide.
aAvoided $1.25 million in FDIC premium charges for major insurance company.
aProvided Training on New SFAS reporting and implementation.
aProvided Review of Management Discussion and Analyses for Annual Report and 10-
K and S-1 filings.
aProvided Statutory Accounting policy updates for insurance operations and for M
ET LIFE Branch 1
1985-1987 Ernst & Young
Audit Senior
aPerformed Audits of large US brokerage houses and the US Postal Service, MTA an
d NYS finance agencies Handled due diligence audits for equity and bond offering
s and bankruptcy audits.
Teaching
Experience:Georgian Court University January 2008 a" Present
Part time adjunct faculty member Georgian Court Graduate and Undergraduate Schoo
l of Business and New Jersey City University teaching assignments include Intern
ational Accounting IFRS, US GAAP Advanced Accounting, Intermediate Accounting, F
inancial Accounting Individualand Corporate Taxation and Corporate Finance.
Professional:Maintain CPA certification through continuing education courses. Se
minars and training include IFRS Training Malcolm Baldridge TQM Excellence in Bu
siness Education Evaluator, SEC Reporting, FASB 133 Implementation and other man
agement and financial courses.
Awards: JP Morgan Chase Infoserve Achievement Award 1995, 1994 Chase Total Quali
ty Management Award.
Memberships: AICPA, Advisory Committee to Port Authority of NY & NJ for the Path
Transit System New York Clearing House ECP Committee, Bond Market Association A
ccounting Policy Committee Other: Adjunct Accounting & Finance Professor at Geor
gian Court University Advanced Accounting 1995 -2009. Contributing Author to: I
nternational Business and Financial Reporting Journal 2009 aThe Globalization of
Accounting Standards IFRS vs. US GAAP. Knight of Malta (2000)
References Available Upon Request