Today we’d like to introduce you to Ivonne Berrios
Hi Ivonne, can you start by introducing yourself? We’d love to learn more about how you got to where you are today?
Hi! I’m Ivonne Berrios, and for the past five years, I have served as the Chief Operating Officer (COO), Chief Financial Officer (CFO) and Board Treasurer for the Miami Downtown Development Authority (Miami DDA). The Miami DDA is an autonomous governmental agency of the City of Miami with a mission to grow, strengthen and promote the economic health and vitality of Downtown Miami. The agency has played a key role in Downtown Miami’s development by investing in initiatives that solidify the region as a global business hub and create a welcoming environment for companies of all sizes.
As the Miami DDA’s COO and CFO/Board Treasurer, I oversee daily operations and translate financial data into strategic insights needed to make decisions. As COO, I’m provide leadership, management, and vision to ensure the Miami DDA has the necessary operational controls, administrative and reporting procedures, and people systems to foster growth, financial strength and operational efficiency.
As the CFO/board treasurer, I’m responsible for developing, monitoring, and evaluating the agency’s overall strategy in collaboration with the CEO/Executive Director and senior management. My focus includes performance enhancement and value creation through valuable financial insights that help make better decisions about formulating and executing strategy.
As the CFO, I have orchestrated transformative initiatives that have cemented Downtown Miami’s status as a vibrant and thriving global business center. Among my accomplishments, I have spearheaded projects like the Ike Kiosks, ARPA Funds Reimbursement, DDRI Reimbursements, and Business Incentive Programs, which have significantly contributed to Downtown Miami’s appeal as a premier business destination.
I also manage the agency’s budget which has grown to $21 million due to rising ad valorem taxes in the district. I work hard to devise innovative and imaginative strategies to effectively use these additional funds for the benefit the Downtown Miami community.
Before joining the Miami DDA, I worked as a portfolio accountant for an investment firm, overseeing the accounting and finances for properties across the United States and Canada. Previously, I was a senior auditor at an accounting firm, where I audited financial statements, internal controls, and conducted risk assessments. Earlier in my career, I served as a finance and real estate manager at a national bank, overseeing operations, accounting, and finances for Puerto Rico and the Caribbean.
I am a member of several institutions, including 100 Women in Finance, where I serve as a mentor; the Florida Downtown Association, where I am a board member; the Urban Land Institute (ULI); the Society for Human Resource Management (SHRM); the Greater Miami Chamber of Commerce; and the International Downtown Association (IDA).
I was honored as one of the 2023 Miami Dynamic Women, graduated from the ULI Leadership Program and the FIU Leadership Program, and was included on the Dean’s Honor List. I have also received the NASA Excellence Award, among other accolades.
I have a dual bachelor’s degree in accounting and marketing from the University of Puerto Rico and a Juris Doctor from the Interamerican University of Puerto Rico. I have been proudly working in accounting and operations for over 25 years.
I’m proud of the strides we’ve made in transforming Downtown Miami into a thriving global business center. My goal has always been to make a real difference—whether through innovative financial strategies or by supporting our community’s growth. I’m excited to keep pushing boundaries and finding new ways to contribute to our city’s success!
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
Not everything has been smooth sailing—some experiences were tough at the time but have turned into valuable lessons that have helped me grow both professionally and personally.
As a woman who studied accounting and law, I knew I was entering a male-dominated field (at least when I graduated). I had to be tougher than expected to achieve my goals. Through challenging internships and demanding roles, I worked hard to demonstrate my skills and navigate my career path.
Moving to Miami was a significant reset for me, a moment when I had to prove my capabilities all over again. It was a tough period, but it taught me resilience and determination.
Another hard reality that I continue to face is balancing work with my roles as a daughter, wife, mother, friend, and a successful professional. Managing this balance requires setting priorities and boundaries, learning to delegate, and improving my time management. It’s about focusing on the quality of time with loved ones rather than the quantity and never forgetting my self care.
Thanks for sharing that. So, maybe next you can tell us a bit more about your work?
As COO, my focus was on streamlining the agency’s workflow and organizing essential processes. I worked to ensure that everything ran smoothly and efficiently.
In my role as CFO, I was dedicated to enhancing the agency’s financial performance. This involved overseeing financial reporting, refining processes, and ensuring due diligence. My responsibilities included evaluating the efficiency of current functions, planning updates to daily operations, and collaborating with the management team to set and achieve our goals.
Additionally, I managed the agency’s daily business operations, working closely with department heads and staff to support our everyday activities and ensure everything was on track.
Some of the accomplishments that I wish to highlight are:
• Assist the CEO/ Executive Director with the development and execution of operational policies for the Agency. Including but not limited to procedures, memos, e-mails, etc.
• Continue to successfully implement the new Expenditure Request System to transition to a paperless option (Stampli). By implementing this system, the process has improved substantially by decreasing the check processing time frame from 4-6 weeks to 2 weeks.
• Complete my review and approval process for Accounts Payable in less than 24 hours of received.
• Complete my review and invoicing process for Accounts Receivable in less than 24 hours of received.
• Completed various changes to cut costs, for example: Comcast, Verizon, supplies, amongst others.
• Credit card reconciliations are reconciled and completed within a month. By implementing the new process, the reconciliation status has improved substantially by decreasing the credit card reconciliation from 6 months to monthly.
• Got the Millage and Budget approved during my time at the Agency without objections.
• Got TRIM completed and filed timely during my time at the Agency.
• Obtained clean financial audits during my time at the Agency.
• Obtained clean Pension Plans audits during my time at the Agency.
• Obtained clean Worker’s Compensation audits during my time at the Agency.
• Obtained a clean Vendor Program audit during my time at the Agency.
• Completed monthly and annual filings on time during my time at the Agency.
• Explore Bamboo HR and Stampli to solidify the structure of internal processes. Example: evaluations, on-boarding, off-boarding, credit cards, amongst others.
• Was able to obtain a $700k payment for the IKE Kiosks ads.
• Was able to complete the process for a $3,717,000 transfer of DRI Funds.
• Was able to process the reimbursement of $500k (ARPA Funds) for the Flagler Recovery Grant.
• Was able to process the reimbursement of $113k (ARPA Funds) for the Incentive Fund Grant.
.• Work with the CEO/Executive Director updating organizational chart, responsibilities document, titles and accommodating employees where their talent and assets could be use completely.
• Continue the use of Bamboo HR for payroll. This is a friendly system where employees can have all their HR information accessible from their phones and other devices. This is a soft saving, the intangible benefit of continuously improving the Agency. Soft savings include both capacity enhancement and cost avoidance.
• Continue the use of Bamboo HR for time off. This is a friendly system where employees can have all their HR information accessible from their phones and other devices. This is a soft saving, the intangible benefit of continuously improving the Agency. Soft savings include both capacity enhancement and cost avoidance.
• Continue using Bamboo HR for Timesheets. This is a soft saving, the intangible benefit of continuously improving the Agency. Soft savings include both capacity enhancement and cost avoidance.
• Developing and implementing strategies, procedures and plans needed to enhance the Agency’s success.
At the Miami DDA, we take immense pride in the culture and environment we’ve cultivated. Our workplace is not just a space where people come to fulfill their professional obligations; it is a vibrant community where each person’s contributions are valued, and personal growth is actively encouraged.
Our culture is built on the foundation of mutual respect, trust, and collaboration. We believe that everyone has a voice and that great ideas can come from anywhere. Whether it’s during team meetings, casual coffee chats, or brainstorming sessions, we encourage open communication and creative thinking. This openness allows us to innovate continuously and adapt to the ever-changing business landscape.
I feel very proud that I have been an active part of this. I believe that one of the key elements of a positive work environment is the emphasis on work-life balance. I understand that our employees have roles beyond the office—as parents, friends, partners, and community members. That’s why with permission of my CEO/ED I created a policy that offer flexible work hours, remote work options, and a generous leave policy to help our team members manage their professional and personal lives effectively.
I’m dedicated to the professional and personal development of our employees. Offering regular training programs, mentorship opportunities, and avenues for career advancement. Making every member of our team feel empowered to grow within the Agency and achieve their career aspirations.
Finally, I strive to make our workplace a supportive and enjoyable environment. Whether it’s through team-building activities, wellness programs, or simply fostering a sense of camaraderie, I ensure that everyone feels valued and appreciated. After all, a happy and motivated team is the driving force behind our success.
Any advice for finding a mentor or networking in general?
In order to find an experienced and trusted adviser (mentor) or participate in networking events, it is important to identify the desired final purpose. Before seeking a mentor, you need to know what you want to achieve. This can include education guidance, career guidance, skills development, or industry insights. Also, is very important to identify the areas that need the support to be able to find the right mentor to help you grow.
Sometimes we already know our mentor, consider colleagues, former managers, or industry peers who you admire.
For me, joining a professional organization was life changing in this matter. These organizations often offer formal mentoring programs. Joining them can connect you with experienced professionals who are open to mentoring.
Also, what has worked for me….don’t wait for opportunities to come to you; actively seek out mentors and networking opportunities. Volunteering for projects or causes you’re passionate about can introduce you to like-minded professionals and potential mentors and staying curious and committed to learning has helped in connecting with others who value growth and development.
Contact Info:
- Website: https://www.miamidda.com
- Instagram: @downtownmia
- Facebook: https://www.facebook.com/downtownMIA
- Other: https://www.linkedin.com/company/miamidda
