Paul Vitale, EVP of Finance & Operations at The Toy Association™, Announces Retirement

December 18, 2023 | Paul Vitale, executive vice president of finance & operations at The Toy Association™, will retire on December 31, 2023, after serving 16 years on the Association’s staff and senior management team.

In his role, Vitale effectively served as the chief financial officer, and in many ways like a chief operating officer, and was directly responsible for the management or supervision of the organization’s finance, human resources, information technology, facilities, research, and Credit Program. He also served as an advisor to the Association’s president and to each department head.

During his tenure, Vitale achieved significant milestones, including 16 years of clean, adjustment-free audits. He oversaw the transition of the Association to a PEO (professional employer organization) in 2014, strategically cutting down benefit costs while bolstering the HR framework. Vitale spearheaded the implementation of Adaptive Insights software, elevating financial budgeting and forecasting processes. Recognizing the importance of technological infrastructure, he oversaw the upgrade of IT support and introduced new software for streamlined employee expense reporting. His advocacy played a pivotal role in the addition of a research position to the Association’s staff, contributing to the organization's capacity to provide expanded benefits to members. In 2017, he played an integral role on the team orchestrating the successful relocation of the Association’s New York office. Vitale earlier received the Nonprofit CFO of the Year Transformational Leader Award in 2015, nominated by then-President of the Association Carter Keithley and the executive committee.

“Paul Vitale has blessed us with one of the finest financial minds and range of operational acumen found anywhere in the trade association and nonprofit community,” said Steve Pasierb, president & CEO of The Toy Association. “He is respected, kind, decent, trusted, and thoughtful. In addition to being simply a wonderful person with whom to work, Paul and his team built best of class reporting, controls, and stewardship that strengthened and helped advance the Association together with human resources services and employee benefits, which strengthened and helped retain our professional team.”

Vitale came to The Toy Association in 2007 after spending five years as the senior director of finance for the New York City Chapter of the American Red Cross. He also served roles at Commercial Capital Corp., Barron’s Educational Series Inc., Arthur Andersen LLP, and his own accounting practice.

Outside of his work at the Association, Vitale has dedicated 28 years to serving as a board member for the North Shore Child & Family Guidance Center, a Long Island-based children's mental health agency. Throughout his tenure there, he has held various roles, including treasurer, president, and past president. Additionally, he contributed to the Compliance & Audit Committee of Catholic Health Services, a Long Island-based hospital system, for a decade from 2008 to 2018.

Vitale has been a certified public accountant since 1980 and is a member of the American Institute of Certified Public Accountants, and previous member of the New York State Society of Certified Public Accountants and Financial Executives International. He is a 1979 graduate of St. John’s University with a Bachelor of Science in accounting.

Pasierb added: “The toy and play community will never fully realize the depth of commitment, care, and effectiveness Paul delivered in every aspect of his role, which was so essential to the Association’s ongoing mission of protecting and advancing the toy community. Similarly, his role included back office and financial support services to several smaller nonprofits across the toy industry. Paul will be profoundly missed by us all, but departs having built a strong team and mentoring talented future leadership in Bobby Heins who will continue the standards and momentum he created. It has been the highest honor and deepest pleasure of my career to have worked alongside Paul on a daily basis.”

Robert (Bobby) Heins, vice president of finance & accounting, has been promoted to the role of senior vice president of finance & administration at The Toy Association, effective January 1, 2024. An official announcement will be made in the coming weeks.