James Kennedy sits down with Eric Segal, Managing Director at CFO Consulting Partners, to unpack what community banks and fintechs really need from a CFO team. From Eric’s early days rating institutions during the S&L crisis at Moody’s to treasury and CFO roles at American Express, and finally a high-stakes turnaround as interim CFO for a stressed community bank in 2008–09, this episode explores asset-quality shocks, SEC/OCC scrutiny, restatements, and how to run multiple regulatory workstreams without losing the plot. You’ll also hear how to evaluate a CFO firm for industry fit – and why there’s still plenty of “alpha” hiding in management quality and front-line execution.
About Eric Segal
Eric is a financial services specialist who has served banks, fintechs, asset managers, and insurers as a fractional/interim CFO and advisor. His path runs from Moody’s (bank & thrift analysis during the S&L crisis) to American Express (treasury risk, divisional CFO roles, Ameriprise bank spin-off) and, later, CFO Consulting Partners, where he leads engagements in regulatory remediation, SEC/GAAP reporting, planning & analysis, balance-sheet optimization, and capital strategy.
What You’ll Learn
- Community banking, up close: How thousands of U.S. community banks power local economies – and why culture and credit discipline make or break them.
- When loans go south: The mechanics of asset-quality review, provisioning, and why $30M of bad loans rarely “happens in one quarter.”
- Regulatory triage: Coordinating SEC, bank regulators (e.g., OCC), auditors, and an in-flight merger – simultaneously and transparently.
- Restating financials, the right way: Evidence, timelines, and working with auditors to rebuild credibility.
- Finding the right CFO firm: What “big-firm caliber, hands-on execution” looks like for banks/fintechs – beyond staff augmentation.
- Where the alpha is: How management capability and front-line sales/credit processes still create real performance gaps, even in “efficient” markets.
Episode Highlights
- “The show will go on – so build the muscle to deliver under hard deadlines.”
- “There’s plenty of alpha in how teams lend, sell, and manage risk.”
- “Don’t promise Thursday if it’s really next week – do what you say you’ll do with regulators and auditors.”
- “A sudden $30M write-down? Often it’s earlier deterioration that wasn’t tracked – fix the system, not just the quarter.”
- “Community banks win on relationships – but relationship lending still needs hard-nosed credit work.”
More About Eric’s Role
At CFO Consulting Partners (25 professionals; Big Four/F500 pedigrees), Eric leads the Financial Services practice (banks, fintechs, asset managers, insurers). The team delivers:
- Fractional/Interim CFO and controller coverage
- SEC/GAAP reporting and audit readiness
- Regulatory response (OCC/FDIC/FRB) and remediation plans
- Planning & analysis, profitability, and cost discipline
- Balance-sheet & capital optimization for growth or M&A
