ProBusiness Services Pleasanton, CA
Treasurer 10/01 – Present
Directly responsible for in excess of 25% of public company’s revenue, consisting of interest income on bond portfolio and interest rate swaps, for a premier payroll and payroll tax outsourcing provider serving the Fortune 1000 market. Successfully navigated company through difficult credit environment in attaining bank credit line, as well as additional sources of operational liquidity.
· Implemented new investment policy that both improved the credit quality and interest income of the overall portfolio (~$1.05 BN) by extending portfolio duration and including alternative fixed income asset classes. Increased interest income by 7% (~$3.0 M) on an annual basis.
· Raised additional operational liquidity during the difficult credit environment of late 2000 in order to maintain working capital funds, in addition to addressing public market liquidity concerns regarding the company.
- Negotiated and secured $30 M credit line and executed within 60 days of joining company, with limited operating and balance sheet covenant restrictions.
- Participated in $56 M equity private placement closed in December 2000, resulting in the acquisition of required funds to last company to cash flow positive (June 2003).
- Negotiated $8 M in operating leases for various equipment purchases in order to further increase operating liquidity.
· Analysis and implementation of forward interest rate swap purchases to hedge interest income revenue that will result in an increase of interest income by ~$19 M (~15%) over next 2.5 years.
· Developed short and long-term structural credit and banking solutions for payroll tax clients in order to address concerns regarding security of payroll tax funds held by the firm prior to their submission to governmental tax entities. Resulted in the acquisition of new clients as well as retention of existing clients.
· Managed both purchasing and travel management which have resulted in cost reductions in excess of $600 K per annum.
Wind River Systems Alameda, CA
Treasurer 9/97 – 10/01
Played a major role in effectively scaling the finance organization of a profitable public high technology software company from $92 M in revenue and 250 employees to $437 M in revenue and 2,050 employees. Have managed multiple financial groups and functions with a strong track record of successful leadership. Developed numerous successful cross-functional initiatives to both increase the profitability of the company as well as significantly improve the core functionality and processes of the entire organization. Managed staff of up to twenty-eight finance personnel.
· Treasury responsibilities included strategy and management of $330 M fixed income portfolio, management of foreign currency hedging program, derivatives, off-balance sheet instruments, global risk management program, equity investments and stock repurchase program
- Nationally recognized for both fixed income portfolio structure and performance. Speaker at national corporate cash management conferences on corporate portfolio management. Published in Treasury Management Association Journal (April 99) and Treasury and Risk Management (June 99).
- Implemented and managed foreign currency hedging program which significantly decreased income statement impact of foreign currency fluctuations by 80% over first 18 months.
- Negotiated and managed $65 M of off-balance sheet leases for corporate headquarters utilizing unique interest rate swap and collateral portfolio structure in order to minimizing net lease expense costs.
- Managed $150 M convertible debt offering pricing and term sheet.
· Management of global financial planning and budgeting process
- Effectively led the global financial planning process in the creation of accurate and informative financial models for the executive management team in order to guide the performance of the company in excess of mean analyst estimates for the year (CY’98).
- Managed the CY’00 global financial planning process and staff of eight on an interim basis to ensure that the company would be able to achieve earnings targets for Q3 and Q4. Implemented creative cost savings measures in order to achieve these financial goals.
- Negotiated for executive approval of ASP-model financial planning system to further enhance financial staff’s analysis and support capabilities for both internal business units and external communication purposes. Successfully implemented Q1’01.
- Managed implementation of purchase requisition approval process and Oracle Purchasing module (ver. 10.7) in order to achieve operational and financial control of business units, as well as decrease back-end processing time for accounts payable group.
· Led global finance team in successful Oracle Financials implementation for general ledger, accounts receivable, and accounts payable modules
- Managed eight finance personnel and five IT contractors in migration from Sybase and Sun Accounting systems.
- Utilized the migration of the financial system’s platform to implement many enhanced processes and procedures for the finance organization that improved both accuracy of entries and processing capacity.
- Created new general ledger chart of accounts for company through coordination of key domestic and
overseas finance personnel.
· Managed, with CFO, company’s M&A process in completing transactions ranging from $2 M to $1.1 BN
- Managed identification of potential targets, valuation and pro-forma earnings estimates, through negotiations and definitive agreement creation, to the closing of the transaction.
- Analyzed, negotiated and closed multiple minority investments in technology companies that involved complex OEM agreements and other material non-standard investment agreements.
- Primary company contact working directly with external legal counsel.
· Managed global tax strategy and international transfer pricing
- Led implementation of tax reorganization strategy in order to decrease company’s marginal tax rate by 175 bps.
- Decreased late filing and accounting fees by 90% ( ~$330 K) in first year of management.
- Implemented sophisticated Taxware software in conjunction with Oracle Financials implementation.
· Successfully completed restructuring of entire accounts payable team and processes in less than two quarters
- Volunteered to reorganize personnel and processes of accounts payable team (annual gross volume of ~$100 M).
- Led hiring, training, and team development of 9 new personnel in less than 60 days.
- Drove successful effort to re-engineer, fully document, and clearly communicate all A/P processes.
- Accounts payable became the benchmark for other finance groups for excellence in processes, documented procedures, and team development.
Intel Corporation Hillsboro, OR
Capital Manager, Portland Technology Development (PTD) 2/97 – 9/97
Senior Capital Analyst, PTD 8/96 – 2/ 97
Intel’s Portland Technology Development organization is where the vast majority of Intel’s semiconductor chip development and advancement has occurred over the past fifteen years. Worked closely as an effective financial business partner with the lead project managers for key development areas such as lithography, etch, and cmp, in order to articulate and champion the resource requirements of these groups to executive management. The rapid attainment of detailed knowledge on the semiconductor manufacturing process was essential to performing in the dual role of business partner and financial controller, in order to maximize the overall contribution to PTD and the company.
· Analyzed strategic scenarios for multiple next-generation semiconductor manufacturing processes to optimize capacity.
· Recommended key strategic acquisitions in order to procure advanced technological capabilities.
· Managed acquisition and tracking of all capital equipment ($1.2 BN) for P858 semiconductor process.
· Enacted process reform to realize savings in excess of $1.2 M in development and manufacturing costs.
Microsoft Corporation Redmond, WA
Treasury Analyst (Intern) 1995-1996
Effectively learned the advanced processes and procedures of Microsoft’s Treasury Department, which is one of the most sophisticated in the high-technology world. Wide-ranging experience in fixed income portfolios, foreign currency hedging, derivative strategies, and sophisticated cash flow and process modeling.
· Performed detailed analysis of the $5.2 BN fixed income portfolio and strategies for adjusting the key attributes of the portfolio based on interest rate, economic, and credit related considerations.
· Drove projects related to the forecasting of global cash balances for short, intermediate and long-term planning purposes.
· Developed the strategic framework for the integration of corporate debt into the fixed income portfolio.
· Assisted in foreign currency hedging and derivative projects.
· Analyzed equity holdings and recovered $500K in cash from sale of previously written-off equity positions.
Bank of America NT&SA San Francisco, CA
Financial Analyst, Corporate Finance Analysis Team 1993 – 1994
One of first two financial analysts, in an eight person group, in BofA’s flagship investment banking group. Exposed to a wide-range
of companies and industries as the group worked to develop a client base.
· Produced financial projections, M&A analysis, debt/equity pricing, and cash flow simulations for Fortune 500 clients.
· Analyzed companies in a variety of industries; including high tech, transportation, and biotechnology.
Galaxy Group Mountain View, CA
Financial Analyst 1991 – 1992
General aviation aircraft development company led by ex-Mercury 7 astronaut Gordon Cooper. Development stage enterprise focused on utilization of advanced gas turbine engine technology in order to significantly increase performance, while decreasing total cost of ownership, on a variety of twin engine general aviation aircraft.
· Performed financial analysis on all prospective projects utilizing multiple financial and marketing scenarios.
· Negotiated with public and private entities in order to secure favorable financing terms for all aviation projects.
Education
University of Washington Seattle, WA
Master of Business Administration, Finance and Accounting 1996
University of Pennsylvania Philadelphia, PA
Bachelor of Arts, Dual Major in Economics and Political Science 1990
Personal
Completed Level I of CFA program. Extensive computer experience. Enjoy fly fishing, golf, and soccer. |
