CAREER SUMMARY
Chief financial officer with strong operational experience in diverse organizations ranging from successful start-ups to large publicly held and privately held multi-divisional manufacturing, distribution, and service companies. Extensive experience in restructuring operations and customer service to improve profitability and drive aggressive growth. Highly skilled in the application of information technology to deliver improved company performance. Strong application of KPI's and operational metrics to control microeconomic drivers of business performance. CPA, Northwestern University MBA.
PROFESSIONAL EXPERIENCE
Chicago, IL 2005 - Present
Privately owned, $50 million transportation outsourcing service provider. Company provides outsourced services to the rail, trucking and 3PL industries including equipment repair, fleet management, and call center services.
Executive Vice President and Chief Financial Officer 2005 - Present
Responsible for all finance and administrative functions and have full P&L responsibility for one of the company's largest divisions.
• Implemented the process of calibrating operational performance metrics to financial performance measures resulting in record net income performance.
• Created pricing models for each business line providing predictable margin to achieve financial goals resulting in a clear understanding of trade-offs and financial impact of existing and new service offerings.
• Executed budgeting and forecasting process for all lines of business to guide profitable, effective, and timely operational decisions resulting in improved operaing percentages.
• Increased revenue per employee by 43% through SG&A reduction and streamlined operations.
ALLIANCE 3PL CORP. – Mokena, IL 1999 - 2005
Personally recruited to this privately owned, $20 million transportation outsourcing, warehousing, distribution, and supply chain solution company by the Founder/Owner in 1999 at start-up. Alliance serves food and manufacturing businesses throughout North America.
EXECUTIVE VICE PRESIDENT, CHIEF OPERATING & CHIEF FINANCIAL OFFICER 2000 - Present
Assumed responsibility for operations and customer service in addition to previous management of financial and support departments.
• Played key leadership role in building one of the fastest growing third party logistics management companies in the industry with an average annual growth rate of 50% for each of the last five years.
• Reorganized customer service functions driving significantly higher customer satisfaction scores while also improving operational efficiencies, resulting in a 30% expense reduction.
• Initiated and implemented key customer focus groups to correct significant service issues, delivering a 15% increase in add-on services sold by strengthening customer confidence and relationships.
• Sold many new accounts representing 20% of the company’s sales growth, including a $2 million account, one of the company’s largest.
• Created the company’s first automated, on-line paperless billing system, which significantly reduced customer and company transaction costs and established a key structural tie between the company and its customers; also marketed the system as a competitive differentiator to attract new business.
• Developed the company’s comprehensive hiring, training, and communication programs for all associates, improving productivity and reducing company’s exposure to employment practice risks.
• Implemented a vendor compliance and certification program that reduced vendor set-up time by 60% while improving vendor relations.
VICE PRESIDENT - FINANCE 1999 - 2000
Responsible for all financial and management systems and controls, cash and working capital management, information technology, human resources, legal, and insurance.
• Negotiated with banks and delivered all start-up and ongoing operational funding while holding borrowing costs to prime without a personal guarantee or venture capital funding, keeping company ownership fully in the hands of management.
• Created and implemented all key accounting, management, treasury, and information technology systems, supporting annual revenue and net profit increases of 50% and 42%, respectively.
• Restructured the company’s billing system and receivable collection process, reducing days sales outstanding by 50%.
• Restructured the credit approval process and reduced bad debt expense from 3.5% of net sales to less than 1% of net sales. Improved rating with credit agencies to achieve increased vendor credit limits.
MONTGOMERY WARD & CO., INC., Chicago, IL 1996 - 1999
A $5.4 billion retailer offering a full range of soft and hard line products. Ceased operations due to liquidation.
ASSISTANT TREASURER, TREASURY OPERATIONS 1997 - 1999
ASSISTANT TREASURER, FINANCIAL CONTROLS 1996 - 1997
Promoted, expanded responsibilities included cash forecasting and investor/vendor relations, critical functions for a Chapter 11 company. Led capital budgeting, leasing, and 3rd party insurance for service contracts.
• Assumed responsibility for and greatly improved a once failing cash forecasting department, providing executive committee with accurate and reliable estimates of cash available to finance reorganization.
• Ensured that burn rate of Debtor-in-Possession financing, cash inflows from sales at 400 stores, and continued property dispositions were sufficient to fund turnaround.
• Led finance team in determining timing and scope of several rounds of store closings based on projections of borrowing capacity.
• Became key communicator with supplier and financial community to establish credibility and convey strategic direction, persuading vendors to continue supplying goods and financing vital for survival.
• Negotiated term sheet for $30 million off-balance sheet financing facility.
• Lowered discount rate with 3rd party credit card providers and renegotiated insurance terms on sold product service contracts saving nearly $500,000 annually.
• Determined lease versus buy options and restructured leases to maximize borrowing capacity.
SWEETHEART CUP COMPANY, INC., Chicago, IL 1994 - 1996
A $1 billion manufacturer of plastic and paper foodservice disposables and packaging, recently acquired by Solo, forming the largest U.S. foodservice disposables manufacturer.
OPERATIONS CONTROLLER 1995 - 1996
Promoted in 14 months to the highest financial position within operations. Led a group of 75 responsible for all operations related financial, control, and planning functions at 15 plants in the U.S. and Canada.
• Co-led consolidation team that integrated Canadian operations into U.S. operations, saving $700,000 annually.
• Directed labor tracking team of multi-disciplinary individuals that developed new performance measurements for driving improved labor utilization efficiency.
• Streamlined and reduced the accounting closing cycle by 25%.
• Created management by objectives program for plant controllers linking pay to demonstrated value added performance.
DIRECTOR OF FINANCIAL REPORTING 1994 - 1995
Led all financial, management and SEC reporting as well as internal audit functions.
• Brought in-house 10Q and 10K preparation, saving $225,000 annually in outsourcing costs.
• Established a $60 million accounts receivable securitization loan facility saving $500,000 annually.
• Created tax and transfer pricing policy for the sale of goods between U.S. and Canadian subsidiaries.
• Realigned internal audit process to focus on operational improvements in addition to compliance.
KPMG PEAT MARWICK, Chicago, IL 1988 - 1994
AUDIT MANAGER AND COMPUTER PROCESSING SPECIALIST
Manufacturing, Retail, and Distribution Practice
Managed financial audits of publicly held and privately held clients of this big four firm, ranging in size from $200 million to $4 billion in annual revenue, including an initial public offering and other SEC filings.
EDUCATION
Kellogg Graduate School, Northwestern University, Evanston, IL MBA, Finance, Strategy, June, 1998
Northern Illinois University, DeKalb, IL BS, Accounting, May, 1988; CPA, May, 1988 |
