SENIOR FINANCIAL EXECUTIVE/CFO/CONTROLLER
Successful record of improving operations and establishing financial stability through strategic planning, changes to organizational structure, implementation of performance measurement systems and applying cost effective internal controls.
Held senior positions of responsibility for over 19 years … Experienced in analysis, budgeting, forecasting, financial reporting, tax compliance, investing and management … Employed these skills in a wide variety of industries such as public accounting, manufacturing, construction, insurance, engineering and governmental agencies … Built a public accounting practice from the ground up and served as trusted advisor to over 350 accounting and tax clients … Helped over 200 entrepreneurs to start their own businesses.
PROFESSIONAL EXPERIENCE:
P.A.A.C. ▪ Pittsburgh, PA ▪ 2006 –Present
Agency with annual budget of $550 million and $1 billion in assets
Controller
Hired by CFO to lead a group of five departments through a financial accounting system upgrade, a funding crisis, a reorganization which eliminated six positions, and a wave of retirements which resulted in a turnover of 88% in the controllers group during the period of December 2006 through June 2008. Managed through this change, by preparing a departmental strategic plan and developing a performance management system to assure that goals and objectives were met.
Responsible for General Accounting, Grants Accounting, Accounts Payable, Accounts Receivable, Payroll and Treasury Operations.
Highlights:
Negotiated with the union to restructure 12 positions in four departments to increase minimum requirements and provide flexibility. Resulted in annual savings of more than 72 man/days through interdepartmental sharing of resources.
Created Daily Flash Report to monitor relevant financial information and KPI’s.
Developed methodology and automated key processes that reduced year end closing cycle from 90 days to 30 days and enabled a month end consolidated close with 7 days as the normal cycle.
Through automation and process changes saved the accounts payable department over 288 man/days of staff time per year.
Implemented billing and collection processes that improved cash flow by increasing the percentage of “current” A/R balance from 60% to 82% and reducing the average total A/R balance by 30% or $3 million.
Implemented accounting methodology required by new financial accounting standards related to other post employment benefits, derivative hedging instruments and interest rate swaps.
Other Responsibilities:
Monitor and manage cash balances and line of credit borrowings. Approve all wire transfers and primary signature on all check disbursements greater than $10,000. Authorize all capital grant funding requisitions and expenditures. Responsible for selecting fund managers and monitoring the performance of more than $600 million in retirement plan assets, with fiduciary responsibility to over 7,000 retirees and active employees as one of the plan committee members.
Direct point of contact for audits by governmental agencies, Independent Auditors, and the Internal Audit Department. Maintain relationships with banks, financial advisors, attorneys, consultants and actuaries.
Great Lakes Warranty Corporation▪ Pittsburgh, PA ▪ 2003 – 2006
A $10 million multi-state corporation that sells and administers automobile warranties.
CFO and Treasurer
Recruited in 2003 by the owner of GLW to become an officer and lead the accounting, finance and IT functions. As a key part of his exit strategy, he asked me to help him to “take the company to the next level” and prepare it for sale. Voted to the Board of Directors in early 2004.
Implemented a financial strategy which resulted in increases to cash reserves available to pay claims of 164% in only 8 months improving claims coverage from 6 months to 13 months in reserve. This enabled the implementation of my investment program that resulted in a 200% increase in investment income while maintaining liquidity. Implemented internal control strategies and procedures that uncovered a $125,000 fraud committed by a trusted employee which led to a complete turnover of the accounting staff. Re-engineered accounting and information processes that were projected to save the company more than $360,000 and prepared a strategic plan that was implemented by the president and CEO. These efforts ultimately led to a favorable acquisition that was 100% financed by the bank.
Coordinated the activities of IT Manager; provided direction on internal controls that are necessary to protect the information system and assure quality data input. Also, provided guidance on the redesign of the database structure to facilitate more informative and efficient operational reporting. Prepared financial and operational reports for internal and external purposes. Prepared corporate, sales and employer tax returns of the organization. Maintained relationships with financial institutions, auditors, consultants and actuaries.
A Professional Corporation ▪ Pittsburgh, PA ▪ 1991–2005
Certified public accounting practice serving over 350 small business clients $250k to $11 million
Managing Shareholder
Directed all aspects of certified public accounting practice that I founded and built from the ground up. Marketed and delivered basic accounting and tax services as well as value-added services that enabled clients to establish a solid foundation of administrative processes for their businesses. Advised clients on business expansion opportunities and represented clients in negotiations with taxing authorities.
… Installed accounting, payroll and timekeeping systems and trained the owners and their employees to operate the systems … Successful track record of representing clients in negotiations with the IRS and other taxing authorities resulting in tax penalty abatements and returns accepted without audit adjustments … Prepared tax returns and advising business clients regarding corporate, partnership estate, fiduciary, non-profit organization and employer taxes … Familiar with matters regarding subchapter S corporations and LLC’s … Advised clients, prepared valuations, performed due diligence, assisted in negotiations and prepared tax analyses with respect to sales and acquisitions of businesses … Prepared and reviewed strategic and business plan documents to help clients to obtain financing and attract investors.
Ernst & Young ▪ Pittsburgh, PA/Jacksonville, FL ▪ 1987–1991
Entrepreneurial Service Group (’90–’91)
Senior Accountant/Auditor
Planned, performed and supervised financial statement audits for clients with revenues of $10 million to $1 billion in the manufacturing, distribution, retail, construction, manufacturing, food processing and banking industries … ESG clients were start up companies or recent acquisitions … Assisted in business valuation engagements … Performed audits of employee benefit plans and prepared related tax forms.
Brockway, Inc. ▪ Jacksonville, FL ▪ 1985–1987
Internal Auditor
Planned and performed operational and financial audits of commuter airlines, glass, plastics, metal container and corporate divisions for this fortune 300 company with over $1 billion in sales … Performed special investigations as requested by corporate management … Created a computer program that discovered more than $100,000 owed to the company in corporate freight rebates … Automated the LIFO inventory calculation for more than 20 glass and plastics plants.
EDUCATION
Duquesne University, Pittsburgh, PA
1981–1985, B.S. Business Administration - Accounting. – Deans List.
University of North Florida, Jacksonville, FL
1987–1988, MBA candidate-Various Graduate Level Business Courses.
Continuing Professional Education
1985–Present, Over 800 hours of CPE in Accounting, Auditing, Tax and
Management Courses.
PROFESSIONAL MEMBERSHIPS
*** Pennsylvania Institute of Certified Public Accountants
*** Governmental Finance Officers Association
*** National Society of Tax Professionals
SOFTWARE KNOWLEDGE
BUSINESS TOOLS: Crystal Reports, Word, Excel, Access, PowerPoint, Publisher, Outlook, and Visio Express.
ACCOUNTING: Peoplesoft, QuickBooks Pro, MYOB, Peachtree, Intuit Fixed Asset Manager, and Time Slips.
TAX: ProSeries, ProSystem Fx, ATX Saber & Max, TAASC Force, Research Analysts Tax Library, CCH Federal Tax Guide Electronic Tax Library.
OTHER EXPERIENCE
1994–2003 Special Olympics - Allegheny County - Treasurer
2002–2003 Sewickley Hills Borough Council - Councilman |
