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Mike Pocrnich Joins Element Financial Advisory as Finance Manager, Bringing Over 20 Years of Expertise in Non-Profit Accounting and Financial Analysis

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Minneapolis, MN, 30th June 2024, ZEX PR WIREElement Financial Advisory proudly announces the addition of Mike Pocrnich to their team as Finance Manager. With over two decades of experience in non-profit accounting, auditing, and financial analysis, Pocrnich’s extensive background and dedication to financial accuracy and strategic leadership will significantly enhance the firm’s service offerings.

Mike Pocrnich, a Minneapolis local, holds a BA in Accounting from St. John’s University and is proficient in various ERP and CRM software, including the Microsoft suite. His career began at CliftonLarsonAllen as a Senior Auditor, where he managed non-profit audits, enhanced internal controls, and trained junior staff. Pocrnich’s expertise in financial forecasting and reporting has been a cornerstone of his career.

In his current role at Element Financial Advisory, Pocrnich offers CFO and Controller services to a diverse client portfolio, including government and non-profit organizations. He is skilled in developing financial forecasts and adept at managing the intricacies of state and federal grant administration. His prior role as Controller at Beltz, Kes, Darling & Associates (now BerganKDV) saw him leading annual audits and engaging in financial client assistance.

Pocrnich’s professional expertise extends to staff management and client relations, underscored by a noted ability to communicate complex financial information effectively. His day-to-day duties encompass the oversight of accounts payable, payroll, and ensuring financial compliance. His long-standing application of accounting principles, including GAAP, FASB, and GASB, reflects his commitment to precision and strategic financial management.

“Mike’s extensive experience and unique skill set are tremendous assets to our team,” said John Smith, CEO of Element Financial Advisory. “His proven track record in financial forecasting, grant administration, and client relations aligns perfectly with our mission to provide top-tier financial advisory services. We are thrilled to welcome Mike to our team and look forward to the impact he will make.”

Sustainability Takes Center Stage: Integrating ESG Considerations

Environmental, social, and governance (ESG) considerations are increasing for both businesses and consumers. Financial institutions are actively integrating ESG factors into their investment strategies and product offerings.

  • Sustainable investment options: The growing demand for sustainable investment options is prompting financial institutions to offer green bonds, ESG-focused mutual funds, and other products that align with environmental and social responsibility goals.

  • Climate-risk management: As the impact of climate change becomes more evident, financial institutions are incorporating climate-related risks into their risk management strategies. This includes conducting scenario analysis and developing mitigation strategies to ensure long-term sustainability.

  • Socially responsible practices: Beyond environmental considerations, supporting social good is also becoming a priority. This can involve investing in underserved communities, promoting diversity and inclusion within the workforce, and supporting initiatives that address social issues.

The Blurring Lines: The Rise of New Players and Collaboration

The financial services landscape is no longer the sole domain of traditional institutions. New players, including fintech startups and big tech companies, are disrupting the industry with innovative offerings and agile business models.

  • Collaboration and competition: Traditional institutions are increasingly collaborating with fintech startups to gain access to cutting-edge technology and expertise. At the same time, they are actively competing with these newcomers by launching their digital offerings and adopting agile development approaches.

  • Open banking: Open banking APIs enable seamless data sharing and foster partnerships between traditional institutions and fintech companies, enhancing the customer experience and driving innovation.

2024 presents both challenges and opportunities for the financial services industry. By embracing customer-centricity, innovative technologies, and responsible practices while navigating the regulatory landscape, businesses can adapt and thrive in this ever-changing environment.

With over twenty years of experience, Pocrnich provides crucial insights to help organizations navigate the evolving regulatory landscape.

Anticipating Increased Regulatory Attention in 2024

The regulatory environment for financial institutions in the U.S. remains challenging as we move through 2024. Bank executives and directors must focus on several critical issues to meet rising supervisory expectations and ensure sound risk management. By anticipating developments in key areas, organizations can stay ahead of examination priorities, identify potential gaps, and demonstrate a commitment to regulatory compliance.

Key Areas of Regulatory Focus

Liquidity Risk Management and Interest Rate Risk

Financial institutions face renewed challenges in managing liquidity and interest rate risks. The competitive landscape pressures institutions to increase deposit rates amid sluggish loan growth, resulting in razor-thin margins. The federal financial institution regulators’ addendum to the “Interagency Policy Statement on Funding and Liquidity Risk Management,” issued in July 2023, emphasizes the need for contingency funding plans. Examiners will closely monitor institutions’ approaches to fortifying liquidity positions and managing interest rate risk, with a focus on testing and confirming access to contingency funding sources.

Third-Party Risk Management

As financial institutions navigate the increasingly complex regulatory landscape, the spotlight remains firmly on third-party risk management. Updated guidance raises the bar for organizations to maintain robust and mature risk management programs throughout the entire lifecycle of third-party relationships. Historical milestones, such as the 2013 guidance from the OCC and the Federal Reserve, have evolved to address fintech partnerships and banking-as-a-service relationships. The 2023 interagency guidance necessitates an assessment of third-party relationships’ alignment with strategic goals and compliance with applicable laws and regulations.

Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Compliance

The refined focus on BSA and AML compliance unveils an environment shaped by ongoing investigations and heightened regulatory scrutiny. Financial institutions must continually enhance their systems and programs to combat the growing sophistication of financial crimes and money laundering schemes. The integration of artificial intelligence (AI) into financial systems adds complexity to compliance programs, with regulators closely monitoring AI’s impact on AML efforts. Staying ahead in BSA and AML compliance is not only a regulatory requirement but a proactive risk management measure.

Cybersecurity

Cybersecurity remains a critical joint effort among regulatory agencies. Financial institutions must invest in advanced security solutions, conduct regular penetration testing, and provide comprehensive employee training. The evolving complexity of cybersecurity risk requires a nuanced understanding of each institution’s threat response capabilities. The OCC’s updated Cyber Supervision Work Program emphasizes the importance of multi-factor authentication, robust systems configurations, patch management, and effective incident response.

Operational Resilience

Ensuring operational resilience is crucial for financial institutions in today’s volatile environment. Regulatory scrutiny will focus on institutions’ ability to withstand and recover from disruptions, whether from cyber incidents, natural disasters, or other operational challenges. This includes assessing the effectiveness of business continuity plans and disaster recovery strategies. The Federal Deposit Insurance Corp.’s proposed enhanced corporate governance standards would substantially raise the bar for banks with more than $10 billion in assets if finalized.

Crypto and Digital Asset Regulation

The regulatory landscape regarding crypto and digital assets remains cloudy following market disruptions from early 2023 and ongoing legislative activities. Financial institutions must balance innovation with the need for financial safeguards. Regulators seek to strike this balance through various legislative proposals, aiming to bring clarity, investor protection, and oversight to the rapidly expanding market of crypto and digital assets.

Navigating the Regulatory Landscape with Expertise

“In challenging financial regulatory environments, we are here to help,” said Mike Pocrnich. “Our team at Element Financial Advisory provides nuanced guidance and expertise to help financial institutions navigate these complexities effectively. By adopting a proactive stance and focusing on key areas, organizations can meet rising supervisory expectations and demonstrate a commitment to sound risk management.”

About Mike Pocrnich

Mike Pocrnich brings over twenty years of dedicated experience in non-profit accounting, auditing, and financial analysis. A Minneapolis local, Pocrnich holds a BA in Accounting from St. John’s University and is proficient in various ERP and CRM software, including the Microsoft suite. His career began at CliftonLarsonAllen as a Senior Auditor, and he currently serves as Finance Manager at Element Financial Advisory, where he provides CFO and Controller services to a diverse client portfolio, including government and non-profit organizations.

About Element Financial Advisory
Element Financial Advisory is a leading financial services firm based in Minneapolis, offering comprehensive CFO and Controller services to government entities, non-profit organizations, and businesses of all sizes. Our team of seasoned professionals is dedicated to providing personalized financial solutions that drive success and sustainability.

For more information about Mike Pocrnich and Element Financial Advisory, please visit www.elementfinancial.com.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Entrepreneur Joseph Majeesh Shares Insightful Blog on Achieving Work-Life Balance Without Sacrificing Success

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Calgary, Canada, 26th November 2024, ZEX PR WIRE, Entrepreneur and business leader Joseph Majeesh has been featured in an exclusive online blog discussing one of the most pressing challenges for today’s entrepreneurs: achieving work-life balance while maintaining productivity. In his thought-provoking article, Work-Life Balance for Entrepreneurs: How to Stay Productive Without Burning Out, Majeesh shares his personal experiences and strategies for navigating the demands of entrepreneurship without losing sight of personal well-being.

Majeesh, an experienced professional known for his success in franchise development and recruitment, delves into the importance of balance for sustainable growth. Drawing from years of building businesses across industries, including managing major projects in Canada and operating renowned franchises like Dairy Queen, he offers actionable advice tailored for entrepreneurs.

“Entrepreneurship is exciting but also demanding. Achieving a balance between work and life isn’t about reducing ambition—it’s about ensuring you have the energy, focus, and clarity to excel in both areas,” Majeesh explains in the blog.

Key Takeaways from the Blog

Majeesh highlights several strategies for avoiding burnout and achieving sustainable success:

  • Time Management: Entrepreneurs should prioritize tasks based on urgency and importance, allowing for a focus on high-impact work while delegating less critical responsibilities.

  • Setting Boundaries: Defining work hours and communicating them to clients and teams helps maintain separation between professional and personal life.

  • Self-Care: Incorporating exercise, healthy eating, and mindfulness into daily routines ensures physical and mental well-being.

  • Learning to Say No: By focusing on projects and opportunities that align with their goals, entrepreneurs can avoid unnecessary distractions.

  • Leveraging Technology: Tools for automation and scheduling can improve efficiency without overwhelming personal time.

Through these practical approaches, Majeesh emphasizes that achieving balance is not only possible but also vital for long-term success.

Majeesh’s Commitment to Entrepreneurial Growth

With a career spanning multiple industries, Joseph Majeesh’s journey is marked by resilience, innovation, and a commitment to creating opportunities. His ability to manage diverse ventures while fostering personal growth and community engagement has earned him respect in the business world.

This latest blog reflects his dedication to empowering fellow entrepreneurs with actionable insights and personal experiences. “Success isn’t just about building a thriving business; it’s about living a fulfilling life,” Majeesh says.

About Joseph Majeesh

Joseph Majeesh is a Calgary-based entrepreneur with expertise in recruitment, franchise development, and business management. From humble beginnings in Kerala, India, to leading successful ventures in Canada, Majeesh’s career is a testament to vision and hard work. He is known for his innovative approach to business and his passion for building opportunities that impact lives positively.

To read the full blog, click here.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Miami Beach CPA Firm, LLC Expands Forensic Accounting Services to Combat Financial Fraud Across Key Industries

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Miami, FL, 26th November 2024, ZEX PR WIREMiami Beach CPA Firm, LLC, a leading provider of accounting, tax, and consulting services, has announced an expansion of its forensic accounting services to strengthen its fight against financial fraud across essential sectors, including real estate, healthcare, hospitality, and technology. With increased threats of fraud across industries, the firm’s enhanced forensic accounting services are designed to help businesses identify financial discrepancies, investigate fraudulent activity, and implement effective strategies to safeguard financial integrity.

According to the firm, the expansion comes in response to a growing demand for specialized accounting expertise to address complex financial fraud cases, especially in industries vulnerable to financial crimes. With a team of seasoned Certified Public Accountants (CPAs) skilled in forensic analysis, Miami Beach CPA Firm leverages advanced data analytics tools and a meticulous approach to uncovering financial irregularities and fraudulent patterns.

“At Miami Beach CPA Firm, we recognize that the stakes for businesses today are higher than ever when it comes to protecting financial assets from fraud,” says the company spokesperson. “Our forensic accounting services are built on precision, confidentiality, and the ability to adapt to each client’s unique industry challenges. This expansion underscores our commitment to offering specialized services that directly support our clients’ need to combat financial fraud effectively.”

The firm’s forensic accounting services cater to various scenarios, including embezzlement, insurance fraud, misappropriation of funds, and financial statement manipulation. Leveraging Miami Beach CPA Firm’s depth of experience, the forensic accounting team follows a multi-phase approach: gathering and analyzing financial data, identifying potential indicators of fraud, and presenting clear, defensible findings for legal proceedings when required. The firm’s services are especially beneficial in legal contexts, where expert testimony and detailed financial analysis are essential for successful outcomes.

Miami Beach CPA Firm has built a reputation for excellence in accounting and tax services, serving a diverse client base across Miami and beyond. Their services are customized to meet the demands of each client, with a focus on protecting their financial interests through advanced, client-centric solutions. By expanding its forensic accounting capabilities, Miami Beach CPA Firm, LLC aims to reinforce its leadership position in the accounting sector while making a positive impact on the financial security of businesses across multiple industries.

For more information on Miami Beach CPA Firm’s forensic accounting services and how they can support your business in the fight against financial fraud, please visit https://miamibeachcpafirm.com/.

About Miami Beach CPA Firm, LLC

Miami Beach CPA Firm, LLC is a full-service accounting firm based in Miami, Florida, specializing in accounting, tax, and consulting services for individuals and businesses across various sectors. With a commitment to personalized and expert service, the firm assists clients with tax planning, financial consulting, forensic accounting, and more.

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Ammar Jali Shares Experience in Kilifi, Kenya, Highlighting the Unique Charm of Coastal Living and Local Connections

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Michigan, US, 26th November 2024, ZEX PR WIRE, Seasoned traveler and entrepreneur Ammar Jali has added another unforgettable destination to his East African adventures: the coastal town of Kilifi, Kenya. Known for its warm Indian Ocean waters and vibrant local culture, Kilifi left a lasting impression on Jali, who immersed himself in the town’s relaxed lifestyle, enjoyed scuba diving in crystal-clear waters, and experienced an enchanting evening with new friends.

The Allure of Kilifi’s Coastal Waters
Located along Kenya’s northern coastline, Kilifi is celebrated for its serene beaches and inviting waters. Jali describes Kilifi’s coastline as nothing short of paradise, with turquoise waters that stretch for miles, making it a haven for ocean lovers and water sports enthusiasts alike. “The Indian Ocean along Kilifi’s coast is warm and welcoming,” he shares. “The gentle waves and clear waters make it ideal for activities like snorkeling and scuba diving, providing an intimate look at the vibrant marine life beneath the surface.”

Jali’s visit to Kilifi included a scuba diving excursion that took him into the heart of the ocean’s colorful coral reefs. “Diving in Kilifi was a surreal experience,” he recalls. “The clarity of the water allows you to see an incredible variety of marine life, from schools of tropical fish to intricate coral formations. It’s a reminder of the beauty that lies beneath the surface, often hidden from our daily view.” This underwater adventure gave Jali a newfound appreciation for Kilifi’s natural resources, which attract both locals and travelers seeking tranquil escapes.

Connecting with Locals and Making New Friends
While Kilifi’s coastline and ocean views were captivating, it was the people and culture that truly enriched Jali’s experience. During his stay, he had the opportunity to meet a local group of friends, Italian expatriates who had retired in Kilifi and made it their home. Their warmth and openness transformed a casual encounter into a genuine connection. “Meeting people who have chosen Kilifi as their place of retirement made me see the town in a new light,” says Jali. “Their stories of moving to Kilifi, drawn by its charm and relaxed pace of life, added a layer of depth to my visit.”

Invited to a dinner hosted by his new Italian friends, Jali had the chance to meet other locals, each with their own unique story and connection to Kilifi. Describing the evening as magical, he recalls how the gathering was filled with laughter, storytelling, and a shared appreciation for the coastal town that had brought them all together. “Sitting at a dinner table surrounded by people from different backgrounds, all united by their love for Kilifi, was an unforgettable experience,” he shares. “It reminded me that travel is not just about seeing new places, but about connecting with the people who call those places home.”
Kilifi’s Appeal to Retirees and Expatriates

Kilifi has become a popular destination not only for travelers but also for expatriates and retirees from around the world who seek a peaceful and fulfilling lifestyle. Its welcoming community, low cost of living, and picturesque surroundings have turned Kilifi into an appealing haven for those looking to settle down. Jali was intrigued by the lifestyle of his Italian friends, who had fully embraced Kilifi’s laid-back pace and found a sense of community among fellow residents. “It’s clear that Kilifi offers something special, a slower, more meaningful way of life where relationships and nature take center stage,” says Jali.

A Memorable Evening in Kilifi
Jali’s dinner with his Italian friends and other locals was filled with warmth and hospitality. Gathered around a table laden with freshly prepared dishes that highlighted the flavors of the coast, the evening offered a perfect blend of local culture and international camaraderie. “Sharing a meal in Kilifi with people from various backgrounds made me realize the town’s unique ability to bring people together,” reflects Jali. “There was something magical about the setting, the sound of the waves in the background, the laughter, and the genuine connection among everyone present.”

This evening in Kilifi provided Jali with a richer understanding of the town’s charm, beyond its natural beauty. For him, it represented the essence of travel: connecting with others, learning from their stories, and finding common ground. “Kilifi has a way of opening your heart and reminding you of the value of meaningful connections,” he says. “It’s these interactions that stay with you long after you’ve left the place.”

Embracing the Spirit of East African Travel
Reflecting on his experiences, Jali encourages travelers to explore Kilifi and the broader East African region with an open mind and a willingness to connect. “East Africa has so much to offer beyond its landscapes,” he emphasizes. “It’s the people, the unexpected friendships, and the shared experiences that make traveling here so transformative.” Jali’s time in Kilifi highlights his belief that the true beauty of travel lies in the stories we collect along the way and the connections we make with others.

For those considering a trip to Kilifi, Jali’s advice is to embrace both the adventure of the ocean and the warmth of its community. “Let Kilifi surprise you,” he suggests. “Spend time with the locals, share a meal, and take in the simple joys that make this place unforgettable. It’s a destination that will stay with you long after you’ve left its shores.”

To learn more visit: http://ammarjali-travel.com/

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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