As an actively licensed Certified Public Accountant, Tom Hatch has experience dating to 1981 in a financial services environment, including client trust accounting; financial systems, regulatory compliance, auditing, and reporting; and the day-to-day management of all trust accounting personnel and the fiscal activities required to operate a U.S.-based company that services clients on a nationwide basis. Additionally, Tom’s extensive experience includes cash management, cash collections, bank relations, contract negotiations, financial statement preparation, human resources, payroll supervision, and purchasing recommendations. Other responsibilities included working with senior management to ensure compliance with internal and industry policies and implementing financial directives and updating necessary internal controls.
Tom joined ACSI in 2014 as CFO and directs and is responsible for all aspects of ACSI’s company and cli-ent financial services, including all functions of the accounting department, such as:
- Trust Accounting - ACSI’s trust accounting personnel perform the full range of accounting functions that pertain to ACSI’s operations and our client contracts, including payment processing, remittance, and reconciliation. All personnel with access to client account and financial information are prescreened via rigorous back-ground checks prior to being extended an employment offer and thereafter annually.
- Financial Information Security - Financial information is protected via several layers of security, including physical via a separately partitioned and enclosed lockbox area, an independent financial system module that is inaccessible to any personnel outside of trust accounting, restricted personnel access to the lockbox area and the finan-cial system module, and the elaborate use of user password and access controls to data.
- Financial Regulatory Compliance - ACSI’s financial processes and procedures are in complete compliance with all federal regulations and guidelines, including Generally Accepted Accounting Principles, the Sarbanes-Oxley Act, and the Gramm-Leach-Bliley Act. Trust accounting personnel are required to adhere to all regulatory compli-ance requirements and are audited internally on a random basis to ensure compliance.
- Financial Auditing and Reporting - ACSI’s financial operations and systems are audited independently by a registered and certified public accounting firm, which prepares reports in the form of an attestation of ACSI’s adherence to the SSAE No. 16 standards and audited financial statements. Trust accounting personnel also produce client re-ports and ACSI management reports as prescribed.
Prior to joining ACSI, Tom held positions of increasing responsibility as Controller and Chief Financial Of-ficer for an international environmental consulting firm and a restaurant franchise.