Canton, Michigan, 9th October 2024, ZEX PR WIRE, Element Financial Advisory is thrilled to announce the appointment of Mike Pocrnich as Finance Manager. With more than two decades of experience specializing in non-profit accounting, auditing, and financial analysis, Pocrnich’s extensive background promises to enhance the firm’s offerings, particularly in the areas of financial strategy and regulatory compliance.
Pocrnich, a Minneapolis native, holds a BA in Accounting from St. John’s University and has earned a reputation for his expertise in managing complex financial operations. Known for his proficiency in ERP and CRM systems, including those within the Microsoft suite, Pocrnich has played a pivotal role in managing audits, financial reporting, and forecasting for non-profit organizations and government entities.
Mark Anderson, CEO of Element Financial Advisory, welcomed the new hire: “Mike’s wealth of experience and distinctive skill set are invaluable additions to our team. His proven expertise in financial forecasting, grant management, and client relations aligns perfectly with our goal of delivering exceptional financial advisory services. We are delighted to welcome Mike and anticipate the significant impact he will make.”
A Proven Leader in Non-Profit Financial Management
Pocrnich began his career at CliftonLarsonAllen as a Senior Auditor, where he made significant contributions to the auditing field, focusing on strengthening internal controls and mentoring junior staff. His understanding of non-profit financial systems and state and federal grant administration has been a hallmark of his career. In his previous role as Controller at Beltz, Kes, Darling & Associates (now BerganKDV), Pocrnich demonstrated his leadership by overseeing annual audits and financial reporting processes while supporting clients with crucial financial insights.
Throughout his career, Pocrnich has demonstrated a unique ability to streamline financial operations and ensure compliance with accounting standards such as GAAP, FASB, and GASB. His capacity to communicate complex financial data clearly and effectively has made him a trusted advisor for senior leadership and stakeholders.
At Element Financial Advisory, Pocrnich’s role will focus on delivering CFO and Controller services, specifically to governmental and non-profit organizations. His in-depth knowledge of financial forecasting, grant management, and compliance will strengthen the firm’s capability to guide clients through an increasingly complex financial landscape.
“I am excited to join Element Financial Advisory at such a pivotal time for the firm,” said Pocrnich. “With the growing demands on financial institutions and non-profits to navigate stringent regulations and ensure financial sustainability, I look forward to leveraging my expertise to help our clients thrive.”
Commitment to Sustainability: Integrating ESG into Financial Strategy
In today’s evolving financial climate, Environmental, Social, and Governance (ESG) considerations are reshaping business practices. Mike Pocrnich’s experience positions him to help Element Financial Advisory clients integrate ESG factors into their financial strategies, a critical focus as industries increasingly prioritize sustainability.
The demand for sustainable investments is growing, with financial institutions exploring ESG-focused products like green bonds and socially responsible mutual funds. Pocrnich will be instrumental in helping clients navigate this shift, advising on climate-risk management and incorporating ESG considerations into risk management frameworks.
“Mike’s ability to align financial strategies with sustainable business practices enhances our commitment to delivering forward-thinking solutions,” said Mark Anderson. “His knowledge of ESG integration will benefit our clients as they seek to balance financial performance with environmental and social responsibility.”
Navigating an Evolving Financial Landscape
The financial industry is in a period of rapid change, driven by technological advancements and evolving regulations. Mike Pocrnich’s appointment comes at a time when traditional financial institutions face increased competition from fintech startups and the growing trend of open banking. His expertise will play a critical role in helping Element Financial Advisory’s clients adapt to these industry shifts.
The collaboration between traditional financial institutions and fintech companies is reshaping the industry, creating new opportunities for enhanced customer experiences through digital solutions. With Pocrnich’s experience in financial software and technology, Element Financial Advisory will be well-equipped to offer cutting-edge services that leverage these advancements.
Addressing 2024’s Regulatory Challenges
Pocrnich’s experience in regulatory compliance is especially timely, as financial institutions face heightened scrutiny in 2024. His in-depth knowledge of risk management, liquidity strategies, and compliance with updated regulatory guidelines will support Element Financial Advisory’s efforts to help clients stay ahead of industry changes.
Among the key areas of regulatory focus this year are:
- Liquidity and Interest Rate Risk: Financial institutions are under pressure to manage liquidity amidst volatile market conditions. Pocrnich’s expertise in financial forecasting and strategic planning will help clients develop contingency funding plans to mitigate risk.
- Third-Party Risk Management: Institutions are required to maintain robust risk management programs when working with third parties. Pocrnich’s experience will guide organizations in aligning their risk management strategies with compliance requirements.
- Cybersecurity and Operational Resilience: As the financial sector increasingly relies on digital solutions, cybersecurity remains a critical area of concern. Pocrnich’s ability to implement strong risk management strategies will ensure that clients can respond effectively to cyber threats while maintaining operational resilience.
- Crypto and Digital Asset Regulation: The emerging regulation of digital assets presents both risks and opportunities. Pocrnich’s knowledge of crypto markets will support clients in balancing innovation with regulatory safeguards.
“In navigating today’s financial landscape, we are committed to helping our clients address regulatory challenges while positioning themselves for future success,” Pocrnich added.
About Mike Pocrnich
Mike Pocrnich is an accomplished accounting professional with over 20 years of experience in non-profit accounting, financial analysis, and auditing. He holds a BA in Accounting from St. John’s University and has extensive expertise in financial forecasting, grant management, and compliance with GAAP, FASB, and GASB standards. Pocrnich’s background includes senior roles at CliftonLarsonAllen and Beltz, Kes, Darling & Associates. He now serves as Finance Manager at Element Financial Advisory, providing CFO and Controller services to a diverse client base.
About Element Financial Advisory
Element Financial Advisory is a premier financial services firm located in Minneapolis, MN, offering comprehensive CFO and Controller services to government entities, non-profit organizations, and businesses of all sizes. With a commitment to delivering personalized, strategic financial solutions, Element Financial Advisory helps its clients navigate complex financial landscapes and achieve sustainable success.
For more information about Mike Pocrnich and Element Financial Advisory, please visit www.elementfinancial.com & https://mikepocrnich.com/
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No The Money Fly journalist was involved in the writing and production of this article.
