Sioux Falls, SD CFO
36 Years of Experience
Peter has been serving companies ranging from start-up operations to multi-million dollar publicly traded companies for over 30 years. The sweet spot he has developed over the years is with companies ready to break out of the start-up phase and move into the growth phase of the business’ life. These operations are generally in need of strategic planning, cash forecasting, transitionary decisions, and implementations that can damage a company if done without proper planning and analysis. Peter has worked in public accounting, the financial services industry, in virtually every aspect of insurance, consumer lending, investment management, transportation, manufacturing, oil & gas, retail and industrial services. During his 30+ years of experience, he has primarily served as CFO, in addition to CIO, VP-Internal Audit, and has handled legal, regulatory affairs, product development, brand development, insurance sales, underwriting, claims management, and client services. It is his ability to understand how strategy is applied to each functional area and wear multiple hats that has allowed Peter to lead companies through the critical growth phase as the key right hand of the CEO.
Peter’s diverse experiences and skillsets allow him to serve as both a financial and operational analyst during strategy sessions and in critical strategic and operational decision making. As an individual committed to lifelong learning, he has received certifications in strategic and competitive intelligence, technology development and leadership, captive management, and in risk management. Peter can help ensure that every facet of the strategy spectrum will be addressed.
Prior to joining B2B CFO, Peter was the CFO/CIO for a $25 million private surety insurance company in Sioux Falls, SD. In this role, Peter led the transition in both accounting and IT from small, task oriented departments to proactive teams focused on value added services. He also served as president of the workers’ compensation carrier, which he led from a $3 million company losing several hundred thousand dollars per year to a $7 million company in two years that was sold for almost $3 million. By the second year, the company generated close to $1 million in net income. While this may sound immaterial on the surface, the alternative was shutting the operation down at a loss of over $1 million in cash. The reason for the improvement was a complete restructuring of the costs and marketing approach. The acquiring company later boasted that they could pay off their investment in one year without changing the basic operations and practices the company was following. During his tenure as CFO Peter negotiated two separate multi-million dollar bank financing deals that provided the capital for a 50-state expansion. He was also instrumental in getting the company approved in the most difficult states, such as NY, FL, and PA.
Prior to his most recent experience in Sioux Falls, Peter served as the CFO/CIO for a workers’ compensation carrier in St. Louis, MO. Under his tenure, the company grew from a $65 million industry follower to the industry leader generating annual revenues of more than $300 million. Peter chose to become a B2B CFO Partner because his real passion is helping small business owners at a strategic level. As a B2B CFO Partner, he can bring this passion to reality everyday by working with entrepreneurs and business leaders who are equally passionate about their businesses.
Peter started his career in New York City with Arthur Andersen & Co, after graduating from The Seton Hall University in New Jersey. He has since traveled through Ohio, Florida, Puerto Rico, and St Louis before settling in Sioux Falls. He picked up his MBA from the Owen School of Management at Vanderbilt University while in Florida. He and his wife Angela have decided that Sioux Falls is a place to call home.
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About Peter Shaw