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John Brown
PennyMac
Moorpark, California, USA
Limited Liability Partnership (LLP)
Professional Summary
I have public (big 4) and private (domestic and international) experience in mergers, acquisitions, planning, tax accounting, compliance (federal, state and international), and SOX. I have a CPA and MBA.
I have restructured business organizations and acquisitions to save millions of dollars. In an international acquisition, by changing the proposed structure, I was able to obtain millions of dollars in current tax deductions in the US. In another instance, by reviewing prior returns, I was able to obtain over $200 million of tax deductions that would have otherwise been lost.
I have implemented the various tax accounting standards at many different companies over the years, both in public accounting and private industry. Process improvement is an ongoing process everywhere I work. I have managed several departmental reengineering projects. I am also very experienced in managing the utilization of outside tax advisers. I have managed departments from three to thirty for multibillion dollar companies.
I have restructured business organizations and acquisitions to save millions of dollars. In an international acquisition, by changing the proposed structure, I was able to obtain millions of dollars in current tax deductions in the US. In another instance, by reviewing prior returns, I was able to obtain over $200 million of tax deductions that would have otherwise been lost.
I have implemented the various tax accounting standards at many different companies over the years, both in public accounting and private industry. Process improvement is an ongoing process everywhere I work. I have managed several departmental reengineering projects. I am also very experienced in managing the utilization of outside tax advisers. I have managed departments from three to thirty for multibillion dollar companies.
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Languages
- English
Experience
PennyMac
Moorpark, California, USA 91320
Moorpark, California, USA 91320
Limited Liability Partnership (LLP)
2010 - Present
• Responsible for all tax aspects of the investment management company and its related funds.
• Direct all tax compliance activities, including outside tax preparers, for partnerships, real estate investment trusts (REITs), regulated investment companies (RICs), 3C7 Funds, real estate mortgage investment companies (REMICs), disregarded entities, and other flow through entities and trusts.
• Manage tax provision, estimated tax payments and estimated tax liabilities for all entities and partners..
• Manage FAS 109, FIN 48 and SOX compliance and related controls for all entities.
• Advise on and manage tax implications for existing and proposed entities. Evaluate proposed structures for tax minimization and tax implications to existing entities and related partners.
• Direct all tax compliance activities, including outside tax preparers, for partnerships, real estate investment trusts (REITs), regulated investment companies (RICs), 3C7 Funds, real estate mortgage investment companies (REMICs), disregarded entities, and other flow through entities and trusts.
• Manage tax provision, estimated tax payments and estimated tax liabilities for all entities and partners..
• Manage FAS 109, FIN 48 and SOX compliance and related controls for all entities.
• Advise on and manage tax implications for existing and proposed entities. Evaluate proposed structures for tax minimization and tax implications to existing entities and related partners.
Bank of America
Calabasas, California, USA 93101
Calabasas, California, USA 93101
Corporation - Publicly-Held
2005 - 2010
• Direct all domestic tax compliance filings for Countrywide and its subsidiaries (financial and insurance (Life and P&C, including premiums tax)) and joint ventures (partnership returns), including estimated tax payments and extensions.
• Manage annual and quarterly income tax provisions for Countrywide and its subsidiaries, including both GAAP and Statutory insurance accounting provisions for life, property, casualty, title, auto and reinsurance subsidiaries.
• Manage SOX, FIN 48 and FAS 109 compliance and responsible for controls relating to the tax accounting process.
• Coordinate business planning, reorganizations and restructurings and audits by various government agencies. Coordinate and review proposals by state and international groups.
• Review alternative financing and hedging strategies, including asset securitizations, collateralized debt obligations and various interest rate and currency hedges.
• Reviewed and amended 2003 consolidated return, resulting in tax savings of approximately $100 million.
• Reengineered the tax return preparation process to automate over 60% of the required schedule M’s and improve the overall efficiency of the compliance process.
• Improved the insurance company statutory provision process to eliminate outside accounting fees previously incurred. Insurance operations include life, property and casualty, reinsurance, and automobile.
• Enhanced the analysis of timing difference reversals in future years to allow lower state tax rates
• Manage annual and quarterly income tax provisions for Countrywide and its subsidiaries, including both GAAP and Statutory insurance accounting provisions for life, property, casualty, title, auto and reinsurance subsidiaries.
• Manage SOX, FIN 48 and FAS 109 compliance and responsible for controls relating to the tax accounting process.
• Coordinate business planning, reorganizations and restructurings and audits by various government agencies. Coordinate and review proposals by state and international groups.
• Review alternative financing and hedging strategies, including asset securitizations, collateralized debt obligations and various interest rate and currency hedges.
• Reviewed and amended 2003 consolidated return, resulting in tax savings of approximately $100 million.
• Reengineered the tax return preparation process to automate over 60% of the required schedule M’s and improve the overall efficiency of the compliance process.
• Improved the insurance company statutory provision process to eliminate outside accounting fees previously incurred. Insurance operations include life, property and casualty, reinsurance, and automobile.
• Enhanced the analysis of timing difference reversals in future years to allow lower state tax rates
GATX
San Francisco, California, USA 94111
San Francisco, California, USA 94111
Corporation - Publicly-Held
1999 - 2005
• In charge of worldwide tax functions of all U.S. and international operations, including mergers and acquisitions, reorganizations, due diligence, joint ventures, structuring of lease and real estate transactions, inter-company pricing agreements, tax accounting (FAS 109), tax compliance (domestic and international, corporate, trust and partnership), tax audits, and tax planning and forecasting to minimize worldwide tax liabilities.
• Developed various tax leasing arrangements, joint ventures and partnership exchanges to maximize U.S. tax deferral and facilitate tax deferrals under Sec 1031.
• Configured real estate investments, financing, partnerships and 1031 exchanges to maximize tax savings and provide most beneficial balance sheet impact.
• Reorganized eight U.K. companies in two different joint venture groups to maximize the ability to utilize Group and Consortium Tax Relief in the U.K. and minimize U.K. and U.S. tax liabilities.
• Proposed and implemented restructuring of a joint venture acquisition of a foreign leasing company, resulting in U.S. tax savings of approximately $60 million.
• Developed various tax leasing arrangements, joint ventures and partnership exchanges to maximize U.S. tax deferral and facilitate tax deferrals under Sec 1031.
• Configured real estate investments, financing, partnerships and 1031 exchanges to maximize tax savings and provide most beneficial balance sheet impact.
• Reorganized eight U.K. companies in two different joint venture groups to maximize the ability to utilize Group and Consortium Tax Relief in the U.K. and minimize U.K. and U.S. tax liabilities.
• Proposed and implemented restructuring of a joint venture acquisition of a foreign leasing company, resulting in U.S. tax savings of approximately $60 million.
Education
MBA, Finance
Tulane University
Tulane University, California, United States
BS, Accounting
Baylor University
Waco, California, United States
Professional Certifications
Certified Public Accountant(CPA)
New York
Active
Associations and Societies
- American Institute of Certified Public Accountants
- Tax Executives Institute