The New York Racing Association announced July 22 that Ellen McClain has been named senior vice president and chief financial officer. In her position, McClain will oversee all NYRA financials, including accounting, budgeting, and forecasting. She will start with the company in mid-August.
From 2004-09, McClain served as the vice president of finance for Hearst-Argyle Television, a publicly traded group operator of 29 local television stations. In her role, she managed a team of professionals engaged in all aspects of corporate finance, including accounting, audit, internal and external reporting, budgeting, and forecasting and investor relations.
McClain boasts a 20-year track record in media finance and operations, including board membership with the Media Financial Management Association and the National Association of Black Owned Broadcasters. She holds a master’s degree in business administration from the Harvard Graduate School of Business Administration (’93) and a bachelor’s degree in economics from Brown University (’86).
“We are thrilled that Ellen will be joining our senior management team,” said NYRA president and CEO Charles Hayward. “She brings NYRA a very impressive education pedigree and strong financial and analytical experience. Ellen will play a key role in developing business initiatives that will help NYRA navigate the many challenges that the racing industry currently faces.”
From 1993 to 2004, McClain served as the senior vice president and chief financial officer for the Granite Broadcasting Corporation, a publicly-traded entrepreneurial group-owner of eight local television stations, including two top-ten market network affiliates. McClain began her career as a media lender, first at CIBC and before that, Bank of New England, where she banked clients in the television, radio and cable industries.
“This is a very exciting time at NYRA and I’m thrilled to be part of the strong management team Charlie Hayward has assembled," said McClain. “I am impressed with NYRA's commitment to being a leader in racing integrity and look forward to supporting the organization's strategy, financial goals and policies, consistent with best practices in financial management.”