The recipient of a bachelor’s degree in economics and accounting from College of the Holy Cross, Charles Schara is an Alexandra, VA, resident who serves as president and CEO of CGS Consulting, LLC, for which he provides board support and management as required, while creating and implementing management control systems.
Charles Schara took on the VA-based position in 2014 after retiring from a 37-year career with GEICO in which he held multiple roles and responsibilities.
A Certified Public Accountant (CPA) and Certified Internal Auditor (CIA), Charles Schara spent 29 of his 37 years with GEICO as an officer and planning center manager (PCM), which made him the longest-serving PCM of GEICO and its subsidiaries outside of the company’s CEO. He also served as the company’s treasurer for 26 years, during which time he was responsible for short-term investments totaling as much as $9 billion. In addition, he chaired the corporate payment task force, held the role of president of Criterion Life Company, and served as assistant vice president of internal audits.
He was the first CPA hired by GEICO in 1976 to research generally accepted accounting principles (GAAP) for new GAAP reporting required for insurance companies