SENIOR FINANCIAL EXECUTIVE
Corporate finance, accounting and control…from Fortune 500 to high growth privately held organizations...I rapidly improve financial reporting performance while reducing costs.
CONFIDENTIAL
$200 million pre-IPO property & casualty insurer
VICE PRESIDENT, CONTROLLER
October 2007 - Present
Owned by private equity investors since late 2005, the business began preparations for an initial public offering in 2007. I was recruited to quickly bring financial reporting infrastructure and controls up to public company standards, leading the 12-person accounting function and reporting directly to the CFO.
My group is responsible for all GAAP and statutory insurance financial reporting for this multinational organization, which includes four U.S. property/casualty insurers, an affiliated Bermuda-based reinsurer and a structured group of holding companies in various foreign jurisdictions. I participate in the company's Audit Committee meetings, coordinate all external financial audits and tax compliance and directed our SOX 404 project until preparations for the IPO were paused.
Key accomplishments:
* Reduced the time required to complete monthly financial close by four business days;
* Completed five GAAP and four statutory external audits with no posted audit adjustments and no material weaknesses noted (audits prior to my arrival resulted in several large posted adjustments);
* Guided the organization through its first state insurance department triennial examination, resulting in no significant findings and no financial statement adjustments; and
* Saved $200,000 annually by reorganizing my team, simplifying its structure and eliminating one manager position and one clerical support position.
CONFIDENTIAL
$60 million publicly traded insurance and professional services organization
CORPORATE CONTROLLER
August 2005 to October 2007
This organization, consisting of two insurance subsidiaries and a rapidly-growing professional services division, had gone without a Controller for over five years and was faced with an impending SOX 404 compliance requirement. I was recruited to bring about rapid improvement in process and control, raise the bar for an underperforming finance team and serve as heir apparent to the current CFO with plans to retire by decade's end. Before the latter transpired, the company was acquired by a larger privately held insurer in December 2007.
My responsibilities covered all finance and accounting functions, including SEC reporting (10-K, 10-Q, etc.) and statutory financial reporting. I participated in the company's Board of Directors meetings, including all Audit Committee meetings, coordinated external audits and tax compliance, and led the company's SOX 404 project, on target for fiscal 2007 compliance when the deal was reached.
I oversaw all treasury management functions, accounting for a portfolio of over $120 million in fixed income investments, cash and equivalents, and led monthly investment committee meetings with the CEO, CFO, and COO. Faced with a proposed increase in fees from our primary bank, I instead negotiated a 27% decrease.
Upon joining the organization I inherited a completely manual accounting system for the professional services segment, which had grown to over 10% of consolidated revenues by 2006. I implemented new billing and A/R software integrated with our general ledger system, teamed with I/S to improve reporting of billable activity from our legacy system and redesigned all related processes and controls. These enhancements increased cash flow by accelerating client billing by up to 4 weeks and reduced past-due receivables by $350,000 or 60% in 6 months.
CONFIDENTIAL
$5 billion Fortune 500 food distribution and retail company
DIRECTOR OF ACCOUNTING
March 2004 to August 2005
Recruited to direct financial reporting for $1 billion corporate retail division of 106 stores, I led a team of 18 and reported to the VP Corporate Controller. Two months into my tenure I was confronted with a 20% downsizing of the group to 87 stores, and responded by flattening my department's structure to enhance effectiveness while cutting wage expense 33% in 14 months. At the same time, I strengthened and documented the retail segment's controls, helping the company achieve first-year SOX 404 compliance with no material deficiencies.
Formally designated for the company's Succession Candidate program, I was selected as one of fifty participants in the annual "Top 50" strategic planning meetings, serving on a presentation panel each year. Within a year, I was awarded additional responsibility for the 8-person marketing accounting group, overseeing centralized billing, collection and revenue recognition of over $100 million in vendor promotional and advertising funds.
CONFIDENTIAL
$200 million privately held food distribution company
CORPORATE CONTROLLER
October 2001 to March 2004
Reporting directly to the owner of this fast-growing, entrepreneurial organization, I managed a team of 23 responsible for accounting, finance, credit, treasury, and pricing. Guided company through its first annual audit, resulting in an unqualified opinion. Increased cash position by $1.5 million through 31/2 day improvement in A/P.
Created annualized savings of $120,000 through elimination of 3 positions, without decreasing service, during period of 8% annual growth. Minimized bad debt losses to $70,000 annually despite Chapter 11 filings of 2 large customers. Reduced monthly close by 5 days. Supported successful implementation of $1.2 million ERP project.
CONFIDENTIAL
$15 billion Fortune 500 food distribution and retail company
May 1993 to September 2001
DIVISION CONTROLLER, $1.3 billion division, 1998-2001
Promoted again to lead accounting, finance and credit for the company’s largest division, with distribution facilities in 3 cities. Managing a staff of 25, including 19 Teamsters, I oversaw revenue growth of 51% over 3 years. Reduced reliance on union through outsourcing initiative, saving over $20,000 annually.
ACCOUNTING MANAGER, $360 million division, 1996-1998
Promoted ahead of plan to reorganize department and report directly to President as the 3rd manager in 6 months. Quickly built consensus and created stability. Led staff of 11; responsible for all division financial activities.
ACCOUNTING SYSTEMS COORDINATOR, 1995-1996
Promoted to lead financial systems implementations in operating units.
SENIOR INTERNAL AUDITOR, 1993-1995
Led teams of 3 to 5 in financial/operational audits of wholesale and retail divisions.
CONFIDENTIAL
$25 billion diversified energy organization (2nd largest privately held firm in U.S.)
December 1990 to April 1993
ACCOUNTING SUPERVISOR, March 1992 to April 1993
Promoted to supervise inventory accounting and production costing for largest unit.
INTERNAL AUDITOR, December 1990 to March 1992
Began leading audits within 9 months, including joint venture audits recovering $200,000.
CONFIDENTIAL
PUBLIC ACCOUNTING, January 1989 to December 1990
EDUCATION:
Bachelor of Business Administration, Wichita State University, 1988
Majors: Accounting and Marketing
Certified Public Accountant (CPA), 1989
Certified Management Accountant (CMA), 1993 |
