Mike Pocrnich brings over 20 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 an adept user of various ERP and CRM software, including the Microsoft suite. Pocrnich’s career began at CliftonLarsonAllen as a Senior Auditor, where his responsibilities included overseeing non-profit audits, enhancing internal controls, and facilitating the training of junior staff. He is proficient in financial forecasting and reporting, skills he has consistently applied throughout his career. In his current role as finance manager at Element Financial Advisory, Pocrnich offers CFO and Controller services to a diverse client portfolio, which includes 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. His professional expertise extends to staff management and client relations, underscored by a noted ability to communicate complex financial information effectively.
Pocrnich’s 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. As a finance professional, Mike Pocrnich stands as a vital resource for organizations seeking to enhance their financial systems and controls, evidenced by a career characterized by strategic financial stewardship and a dedication to operational excellence.
Thank you for joining us today, Mike. Congratulations on your new role at Element Financial Advisory. How are you settling in?
Thank you! I’m settling in well. The team at Element Financial Advisory has been incredibly welcoming, and I’m excited to bring my experience to such a dynamic firm.
You bring over 20 years of expertise in non-profit accounting and financial analysis. Can you tell us more about your career journey and what led you to this point?
Certainly. I started my career at CliftonLarsonAllen as a Senior Auditor, focusing on non-profit audits. This role was instrumental in honing my skills in financial forecasting, internal controls, and staff training. From there, I moved to Beltz, Kes, Darling & Associates (now BerganKDV) as a Controller, where I led annual audits and provided financial assistance to clients. These experiences have equipped me with a deep understanding of non-profit accounting and financial management, which I now bring to my role at Element Financial Advisory.
Your expertise in financial forecasting and grant administration is impressive. How do you plan to apply these skills at Element Financial Advisory?
At Element Financial Advisory, I’ll be providing CFO and Controller services to a diverse client portfolio, including government and non-profit organizations. My experience in financial forecasting will help our clients develop robust financial plans and navigate funding challenges. Additionally, my expertise in grant administration will be crucial in ensuring compliance with state and federal requirements, ultimately helping clients maximize their funding opportunities.
ESG considerations are becoming increasingly important in the financial sector. How do you see your role contributing to the integration of ESG factors at Element Financial Advisory?
ESG considerations are indeed critical in today’s financial landscape. At Element Financial Advisory, we are committed to incorporating ESG factors into our advisory services. My role will involve guiding clients through sustainable investment options, climate-risk management, and socially responsible practices. By aligning financial strategies with ESG principles, we can help clients achieve both financial success and positive social impact.
The financial services industry is rapidly evolving with the rise of fintech and digital innovations. How do you think traditional financial advisory firms like Element can stay competitive?
Staying competitive requires a blend of embracing innovation and leveraging traditional strengths. At Element Financial Advisory, we are committed to integrating cutting-edge technology and collaborating with fintech companies to enhance our service offerings. By adopting open banking APIs and agile development approaches, we can provide our clients with innovative and efficient solutions. At the same time, our deep expertise and personalized service will continue to set us apart in the industry.
Regulatory attention is increasing in 2024. What key regulatory challenges do you anticipate for financial institutions, and how can they prepare?
Several key regulatory challenges are on the horizon, including liquidity risk management, third-party risk management, BSA/AML compliance, and cybersecurity. Financial institutions must proactively address these areas by developing robust contingency plans, enhancing risk management programs, and investing in advanced security solutions. Staying informed about regulatory updates and conducting regular internal assessments will be crucial in ensuring compliance and operational resilience.
How do you plan to assist clients in navigating these regulatory challenges at Element Financial Advisory?
At Element Financial Advisory, we provide nuanced guidance and expertise to help clients navigate regulatory complexities. We focus on developing proactive strategies that address key areas of regulatory focus, such as liquidity and interest rate risks, third-party relationships, and cybersecurity. By working closely with our clients, we ensure they meet rising supervisory expectations and maintain sound risk management practices.
Lastly, what are your goals for your first year at Element Financial Advisory?
My primary goal is to integrate seamlessly into the team and begin making an immediate impact on our clients’ financial strategies. I aim to leverage my experience to enhance our service offerings, particularly in non-profit accounting and financial forecasting. Additionally, I plan to contribute to the firm’s growth by fostering strong client relationships and helping navigate the evolving financial landscape.
Thank you for your time, Mike. We look forward to seeing the positive impact you will have at Element Financial Advisory.
Thank you. I’m excited about the opportunities ahead and am committed to helping our clients achieve their financial goals.
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