Ray began working with Pappas in January 2011 on a part-time basis, assisting Pappas with accounting, finance and operations activities. In January 2025, Ray transitioned into the CFO role.

Ray is the founder (2008) of Hemera Financial Solutions, LLC, a boutique firm that provides CFO expertise to consumer products, financial services, venture capital, and start-up companies. Ray served as the CFO for Phoundry Pharmaceuticals, acquired in its first year of operations. He served as the AICPA’s content matter expert for a variety of publications including “U.S. GAAP Financial Statements – Best Practices in Presentation and Disclosure,” providing users with the tools needed to apply the complex reporting guidance within U.S. GAAP. He served as a reviewer for “Auditing Derivative Instruments, Hedging Activities, and Investments in Securities – AICPA Audit Guide,” which provided "how-to" advice for auditing financial instruments.

In 2012, Ray was selected as a “40 Under 40″ award winner, an annual program that recognizes outstanding professionals for their contributions to their organizations and to the community. He founded Bowl Away CF (Cystic Fibrosis), which has raised over $220,000 for cystic fibrosis programs.

Prior to Hemera, Ray served as the Controller for Highland Financial Holdings Group, LLC and its HFH ShortPLUS Fund, a top performing hedge fund with net performance exceeding +140% in 2007. He served as the Controller for Shenkman Capital Management, Inc. and helped grow assets under management from $2 billion to $12 billion, while implementing the policies and procedures for the back office and supervising the audits of the onshore and offshore commingled funds. At Arthur Andersen, Ray completed the fieldwork requirements to later become a Certified Public Accountant (CPA) and worked on engagements such as The Hershey Company, Leslie Fay, and MaxMara.

Education:

University of Notre Dame (BBA in Accountancy)