SUMMARY
Dynamic and results-driven executive with demonstrated accomplishments in financial planning, analysis, reporting & control, expense management and strategic cost efficiency initiatives. Expertise in cost reduction, strategic re-engineering, sourcing & organization redesign. Proven leader, business partner & team builder. Areas of expertise include:
• Financial Management and Control
• Process Re-Engineering
• Outsourcing/In sourcing Analysis
• Business Performance Measurement • Strategic Sourcing
• Project Management
• Financial Decision Support
• Merger Integration
• Financial Oversight & Governance
LEHMAN BROTHERS, INC., NEW YORK, NY 1998 - 2008
Managing Director, Global Infrastructure Finance Controller
Senior Vice President, Information Technology Division, Chief Financial Officer
Responsible for all Lehman’s global Corporate divisional financial planning, analysis, reporting & expense control, and accounting services (payroll, sales compensation & accounts payable processing). Worked very closely as a trusted financial business partner with Lehman’s Co-CAO’s, CFO and the heads of the Corporate businesses. Managed a global team of 300 personnel.
• Financial Analysis, Reporting & Control
- Managed a global Corporate expense base of $5 billion with over 11,000 employees.
- Implemented new Corporate business performance measurement and reporting processes (financial, operational and human capital) which resulted in improved cost transparency and operational control.
- Developed Firm/Corporate cost structure benchmarking framework and processes.
- Re-engineered the global Corporate budget process and business performance reviews by streamlining the process and introducing more value added qualitative and quantitative analysis.
- Established the Information Technology Division (ITD) Controller organization. Dedicated global finance organization responsible for all financial reporting, analysis, decision support & expense control for the ITD division ($1.8 billion spend).
- Instrumental in the Firm wide roll out of ITD Transformation initiatives (cost transparency, ROI analysis & business alignment). Resulting in increased cost transparency & enhanced business engagement/understanding of technology spending.
- Built-out Lehman’s global procurement organization, implementing new state of the art technologies (purchase order system (PeopleSoft), eSourcing tool (Frictionless) & contract management (Remedy) and creating the Firm’s first Supplier Diversity Program.
- Developed and implemented global Corporate divisional accounting policies, procedures and financial control processes.
- Responsible for presenting monthly Corporate divisional financial results, full year forecasted spend and strategic initiative updates to Lehman’s Co-CAO’s, CFO and to the heads of the Corporate businesses.
• Strategic Expense Control Initiatives
- Led effort (in partnership with CIO) to establish, build-out and staff Lehman India (approximately 3,000 people). Resulted in approximately +$200 million annual cost savings.
- Responsible for financial analysis and led negotiations in outsourcing of Lehman’s mainframe operations and data center co-location with AIGT ($285 million savings). Then lead re-negotiations and move to IBM resulting in substantial cost savings ($380 million savings).
- Provided financial analysis oversight and governance on a number of significant, data center and corporate facility build-outs ($200 million to $400 million).
- Re-negotiated a number of large enterprise wide technology vendor contracts (Microsoft, EMC, AIGT) at significant cost savings.
- Partnered with Lehman Real Estate to develop and implement a Firm wide real estate rationalization strategy including location analysis, branch closure evaluations, and sublet opportunities.
- Instrumental in the establishment, leadership and operating of new Corporate governance and oversight committees (Real Estate, ITD, Strategic Prioritization & Governance, Corporate MIS Redesign).
• Accounting Services
- Responsible for the global oversight and control over the Firm’s payroll ($5 billion), sales compensation reporting ($3 billion) and accounts payable ($4 billion) processing.
- Led the re-engineering, consolidation and migration of processing functions to Lehman India. Managed all key phases of process selection/documentation, staffing hiring/on-boarding and training.
- Re-engineered and implemented technology (self service capabilities, mass data entry facilities, automated time and attendance systems) to allow for a highly scalable payroll, sales compensation and accounts payable processing environment.
- Developed robust exception based out of policy spend reporting and analysis.
PAINE WEBBER INC., NEW YORK, NY 1993 – 1998
Senior Vice President, Transaction Services Division Controller
Responsible for all Transaction Services Division financial planning, analysis, reporting and control.
- Created cost allocations and cost recovery mechanisms for all variable floor brokerage and clearing charges.
- Developed process, procedures and controls relating to subordinated loans made to correspondent clearing clients.
- Responsible for presenting monthly financial results and updates to the divisional heads and Chief Financial Officer.
ERNST & YOUNG, NEW YORK, NY 1983 – 1993
Senior Audit Manager
Conducted audits, client assistance and special projects specializing in the financial services (broker-dealer) arena.
EDUCATION
ST. BONAVENTURE UNIVERSITY, NY
B.A. degree Accounting, Graduated with Academic honors (Summa Cum Laude), 1983
Certified Public Accountant |
