Lester C. Schott
Partner

Contact:
Lester.Schott@ParenteBeard.com
P: 410.824.6011

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Baltimore Office
1637 Thames Street
Baltimore, MD 21231
P. 410.539.8580
F. 410.752.7227

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Licenses/Certifications

  • Certified Public Accountant, Maryland
  • Certified Financial Examiner
  • Chartered Global Management Accountant

Professional Affiliations

  • American Institute of Certified Public Accountants
  • Society of Financial Examiners, Maryland Chapter
  • National Society of Financial Examiners

Education

  • BS, Towson University

Les provides support to the firm’s insurance regulatory and industry clients in the areas of solvency, financial examinations, receiverships and financial reporting. He has more than 30 years of experience in government auditing and insurance, including 17 years of experience in financial solvency regulation of insurance companies.

As Associate Commissioner of Examination and Auditing for the Maryland Insurance Administration, he was responsible for assuring the continued solvency of the insurance industry in the state. He oversaw financial examinations of domestic insurers, financial analyses of annual, quarterly and other financial reports, licensing of authorized insurers and other entities and the collection of premium, retaliatory and surplus lines taxes. He was also responsible for reviewing the most complex transactions related to insurers regulated by the Maryland administration, including troubled company workouts and mergers and acquisitions. He served as the Insurance Commissioner’s primary advisor on financial issues.

At the Maryland Office of Legislative Audits, Les planned, supervised and oversaw administration of compliance, performance and opinion audits of major governmental entities, reviewed team work, evaluated audit activities, presented audit findings to management and prepared final audit reports.

Les served as president of the Society of Financial Examiners from 2005 through 2006. He also played a key role with the National Association of Insurance Commissioners and has participated actively in their task forces and working groups.