Melba I. Acosta

Académica de Número (Electa)

Academia Puertorriqueña de Jurisprudencia y Legislación



Juris Doctor (JD), magna cum laude
UNIVERSITY OF PUERTO RICO, School of Law, Rio Piedras, PR
Honors/Activities: Associate Editor: University of PR Law Review,
USAA All-American Scholar Collegiate Award, Who’s Who Among American Law Students Award

Master in Business Administration (MBA), Emphasis on Finance, Management, and Entrepreneurship
HARVARD Graduate School of Business Administration (HBS), Boston, MA
Honors/Activities: Eli Lilly Scholar,
Director/Member: Ibero-American, Management Consulting, Finance & International Business Clubs

Bachelor in Business Administration in Accounting (BBA), magna cum laude
UNIVERSITY OF PUERTO RICO, School of Business Administration, Rio Piedras, PR
Honors/Activities: PR Chamber of Commerce Award (6th highest GPA),
Dean’s List, National Collegiate Business Award, Golden Key National Honor Society



McConnell Valdes LLC Law Firm – San Juan, PR
Counsel, Corporate Department (2017-Present)

Her practice is focused on banking and financial institutions regulation and compliance matters, real estate financing and commercial lending, mergers and acquisitions, corporate, securities, and public finance, debt restructuring, taxation, contracting, disaster recovery financing, and litigation support. Have advised national banks, broker-dealers, mortgage institutions, loan companies, other financial institutions, institutional lenders, the government, and large corporations on a wide range of corporate transactions and regulatory matters including asset securitizations and mortgage loan sales, commercial real estate financing, mergers, and acquisitions, spin-offs, warehousing lines of credit, servicing agreements, loan participations, and restructuring of complex credits representing both banks and borrowers, among others.

Government Development Bank for Puerto Rico – Commonwealth of Puerto Rico – San Juan, PR
President, Chief Public Finance Officer (2014 – 2016)

GDB served as a bank, fiscal agent, and financial advisor for the Commonwealth of Puerto Rico, its public corporations, and its instrumentalities. GDB’s mission was to safeguard the fiscal stability of Puerto Rico and promote its competitiveness in order to transform our economy fostering the social and economic enhancement of the residents of Puerto Rico. In charge of all financial transactions for the Commonwealth of Puerto Rico and its related entities, including lending transactions, bond issuances for the Government and public corporations, asset liability management, and management of cash and liquidity ($25 billion + budget), among others. Interacted with rating agencies, bankers, and bondholders. Oversaw debt sustainability study performed by ex-IMF director and economist in regard to Puerto Rico debt. Collaborated in the preparation of a 10-year fiscal adjustment plan for Puerto Rico. Engaged in debt restructuring negotiations with bondholders to restructure around $48 billion of debt from the Commonwealth of Puerto Rico and $8 billion of the public electric company. Participated in Congressional Hearings (House and Senate), meetings in Congress, briefing staffers, and many other legislative matters to promote legislation to allow Puerto Rico to restructure its debt (PROMESA Act approved by U.S. Congress). Chairwoman of the Board of Directors of the Government Development Bank and its subsidiaries, the Economic Development Bank, the Corporation for the Revitalization of the PR Electric Power Authority, and others.

Department of the Treasury – Commonwealth of Puerto Rico – San Juan, PR
Secretary of Treasury, Chief Public Finance Officer (2013-2014)

In charge of financing, investment and accounting policies, cash flow management, revenue collection, property insurance coverage, issuance of consolidated audited financial statements, and other fiscal matters of the Government of the Commonwealth of PR. Promote changes to the tax code and other legislation to reduce tax evasion and improve the collection of revenues (an increase of $1.1 billion or 13%). Diversified sources of revenue, including revamping the lottery program and rolling out Powerball in PR. Modernized Treasury Operations and simplified tax returns, streamlining the process of electronic filing. Spearheaded pension reform of the largest system changing from a defined benefit plan to a defined contribution one. Member of various Board of Directors among them Government Development Bank and all its subsidiaries including Infrastructure Financing Authority (President), Employees Retirement System, Teachers Retirement System (President), Highway Authority, and others. Distinction: Named “Public Person of the Year” in 2013, by Caribbean Business, Puerto Rico’s largest business newspaper.

McConnell Valdes LLC Law Firm – San Juan, PR
Counsel, Corporate Department (2010-2012)

Demonstrate sharp legal acumen in managing all facets of various business and legal matters, with an emphasis on general corporate and civil law, banking, banking compliance, real estate financing, debt restructuring, mergers and acquisitions, tax, and litigation support.

R-G Financial Corporation – San Juan, PR
Executive Vice President, Chief Financial Officer (CFO), Corporate Risk Management Officer (CRMO)(2006-2010)

Maintained full accountability for managing operational and risk management activities in support of organizational goals. Applied strategic planning, prioritization, and project management skills toward consistently achieving critical deadlines while maintaining high-quality standards.

  • After a long restatement process, in charge of finalizing and issuing the audited financial statements covering 3 years of operations of a bank holding company in record time.
  • Trained, mentored, and supervised the Department Head for the departments of Finance, Enterprise Risk Management, Legal Counsel, Compliance (BSA, AML, others), Internal Audit, Loan Review, and Information Security.
  • Played a key role in enhancing operational performance by creating and integrating cost-effective policies and procedures, with a strong focus on optimizing productivity and performance.
  • Served as a key member of ALCO, Risk Management, and Executive Committee.
  • While the economy plummeted and the real estate market slowed to a near-halt, spearheaded due diligence for multiple efforts to raise capital or sell RG to potential investors, interacting continuously with bankers and regulators; ultimately assisted in the acquisition of RG by Scotiabank in an FDIC-assisted transaction, with nearly all RG employees ultimately being retained by Scotiabank.

Senior Vice President, Chief Operating Officer (COO) (2004-2006)

Built and led multiple teams to maximize performance in consistently completing projects in a fast-paced, time-sensitive environment requiring superior organization and leadership skills. Exhibited leadership and operations management skills in facilitating the performance of Department Heads for the Bank’s Operations and Information Technology, Loan Administration, Risk Management, Legal Counsel, Compliance, Real Estate Owned, Risk Management, Maintenance and Construction, Purchasing, Cost Control, Insurance, Contracting, and Security.

  • Collaboratively worked with teams to steer business initiatives to define and attain goals, maximize resources, and produce results while controlling costs.
  • Supervised branch operations as well as infrastructure projects.
  • Tracked performance initiatives and ensured the effective operation of all departments.

Office of Management and Budget (OMB) – Commonwealth of Puerto Rico – San Juan, PR
Executive Director and Chief Information Officer (2001-2004)

Spearheaded a wide array of different projects and led staff in day-to-day activities, including annual preparation of the budget for the Commonwealth of Puerto Rico, development of public policies, researching, preparing, and submitting a budget and financial legislation as well as measuring and controlling the execution of budget expenses. Built top-performing personnel vital to supporting enterprise-wide operations by strategically recruiting and effectively interviewing, screening, and testing candidates.

  • Enhanced operational performance and streamlined workflow by implementing IT initiatives, such as egovernment, the development of the government telecommunication infrastructure providing internet access to all agencies throughout PR, e-procurement, and e-payment.
  • Reported directly to the Governor of Puerto Rico with the responsibility of overseeing a consolidated budget of $23,782 million and an operational budget of $16,673 (FY 03-04).
  • Government Authorized Representative before FEMA supervised disaster recovery financing and execution of government and municipal infrastructure projects.
  • Served as a member of various governmental Boards of Directors, including the Government Development Bank for Puerto Rico, the Public Financing Authority, and others.

Municipality of San Juan, Capital City of PR, San Juan, PR
Chief of Staff (1997-2000); Finance and Economic Advisor to the Mayor (1997)

Steered all facets of daily administrative, financial and operational areas of the Municipality of San Juan, further illustrating leadership and operations management. Actively liaised between different departments to execute budget preparation, prepare financial statements and annual reports, and implement public policies in areas such as general management, human resources, financial management, health, security, economic development, social services, sports and recreation, and culture, among others. Oversaw the development of an aggressive program of construction including health, sports, recreational facilities, public works, and infrastructure as well as housing and economic development projects in the approximate amount of $510 million.

  • Managed the Mayor’s advisory team as well as the members of the Mayor’s cabinet and agencies’ directors.
  • Reported directly to the Mayor of San Juan, with additional responsibility for administrating a consolidated annual budget of $575 million and 8,500 employees (FY 99-00).


Career Note: Additional Experience as an Associate in, Corporate Department for McConnell Valdes Law Firm (1995-97), Summer Associate for O’Neill & Borges Law Firm, Summer Intern at Eli Lilly Industries, Inc., and Tax Consultant at Price Waterhouse.