CHIEF FINANCIAL OFFICER
Cost Controlling / Sarbanes-Oxley / Cost Accounting / Mergers and Acquisitions / Due Diligence/Budgeting and Forecasting / International / Letters of Credit / Federal Acquisition Regulations / Consulting
Highly successful finance and business professional with experience at diverse firms including URS Corporation, Deloitte & Touche, Reminger & Reminger Co., L.P.A. and The M.J. Kelley Company. Controlled costs and maximized profits by establishing innovative financial processes. Negotiated contracts to ensure best return on investment, while protecting corporate assets. Created effective financial reporting packages to gauge business performance. Business expertise in engineering, architectural, planning, general contracting and construction management. Managed staff of 46 and a $200M budget.
Key Characteristics: Create proactive, results oriented finance and accounting approaches to business operations. Possess strong analytical and problem solving skills. Consistently demonstrate the ability to understand complex domestic and international business processes. Operations-oriented. Precise thinker / logical. Exceptional team player with strong people skills.
BS, Accounting and Biology, Cleveland State University. Certified Public Accountant, State of Ohio.
SELECTED ACCOMPLISHMENTS
Captured $6M in revenue for The M.J. Kelley Co, helped prevent bankruptcy. M.J. Kelley supplied equipment and materials to an overseas military base contractor who was terminated by the Army Corp of Engineers resulting in a request to cease all future shipments. Letters of credit guaranteeing payment were expiring and the company could have faced bankruptcy due to outstanding purchase orders. Shipped existing warehouse inventory and collected the full value of the letters of credit which allowed full payment of outstanding purchase orders.
Generated $60M in revenue which resulted in saving 20 jobs at URS by winning RFP. The RFP was developed for architectural, engineering and construction work on the NASA Glenn Center. The request required that only small businesses could be considered for the $60M contract. Prepared proposal for small business prime, URS and a construction company. Including the original submission, intermediate and best and final offer; presented financial proposals for each of the three companies to NASA�s selection committee. Research discovered the company initially awarded contract did not meet qualifications. Worked with legal counsel to file a successful appeal and was subsequently awarded the contract.
Estimated collection at URS of $5M on old receivables and reduced sales outstanding to under 95 days. Prior to arrival, URS was having substantial financial difficulties. As part of the turn-around team closed or sold off non-core operations and concentrated on the core engineering division. Emphasis was placed on collection of aged receivables (DSO's were 140+ days), and implementing tighter financial controls on project direct costs as well as indirect costs. Substantially improved cash flow resulted and the company returned to a profitable state within eight months.
Saved URS $5M+ by identifying target company�s uncollectables and other misrepresentations. Reviewed an architectural firm�s letter of intent to be executed conditional upon due diligence performance. Completed due diligence and identified the target's largest project did not have an executed contract and was not moving forward. The WIP and receivables had uncollectible items. Other errors or misrepresentations existed including; lack of estimates to complete on projects, resulting in over recognized revenues which exceeded billed amounts. URS confronted the target company's management who agreed with the assessment.
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CAREER SUMMARY
Chief Financial Officer, 2008 - Present. Employed with a $50 M Environmental Engineering and Radiological Remediation firm. Responsible for leading efforts to increase operating line of credit from $300K to $1.8 M. Led an effective re-implementation of Deltek Vision which the company previously was using 20% of its capacity. Negotiated numerous new office lease saving the company in excess of $500 K over five years. Prepared forward pricing and negotiated several multi year task order contracts with potential value of $400M. Handled negotiation of all insurances, bonding and fringe benefits. Implemented new internal controls and policies reduced closing period by two weeks. Reduced DSO's and improved cash and operating forecasting.
Independent Consultant, 2005 - 2007. Provided Sarbanes-Oxley compliance consulting for Stoneridge, Inc., a national automotive replacement parts manufacturer. Coordinated financial, operational consulting, and refinancing arrangements for Thanos Contracting and Brosch Brothers. Transitioning business through post acquisition financial related issues for a clients of CMF Associates. Acquisition consulting for clients of the Coleman Research Group.
Regional Controller, URS Corporation, 1990 - 2004. A $3.4B international consulting, engineering, architectural, planning and construction management firm and a leading US federal government contractor. Directed finance and office administration for the eight-office region with $200 M in revenues and 1,100 employees. Provided strategic direction, operational planning and analysis, financial reporting, performance measurement, and corrective action to minimize negative variances from plan.
Additional accomplishments at URS:
*Brought in as part of a turnaround team to direct day to day financial activities of the region. Provided corporate, regional manager, office managers and project managers with timely and decision-focused financial information to increase revenue from $150M to $3.3B.
*Evaluated and performed due diligence on 20+ acquisition targets with acquisition prices from $500K to $900M. Identified misstatements in costs and/or revenue generating $15M in purchase price adjustments.
*Negotiated three office leases with cumulative costs of $28M and negotiated two lease buyouts.
*Analyzed financial strategies and project feasibilities on potential projects. Led proposal process for two major federal projects (RFP�s) including compliance with *Federal Acquisition Regulations (FAR). Negotiated profitable contracts with combined revenues of $55M and assisted office managers with larger complex proposals.
*Reviewed financial aspects of proposals and contracts to ensure compliance with company guidelines and, when applicable, state and federal government guidelines including FAR compliance.
*Led regional staff training classes on conversion to J. D. Edwards One World accounting system and the budgeting software Hyperion.
*Reviewed Estimates-to-Complete (ETCs) to advise project management of actual or potential overruns so timely corrective action may be taken. Ensured that revenue was properly recognized in accordance with cost to cost basis and not overstated or understated.
Director of Finance and Administration, Reminger & Reminger Co., L.P.A., 1988 -1990. Managed law firm's accounting & finance, data processing, purchasing, pension and profit sharing plans, personnel and facilities management with a staff of 65. Automated accounting system, including direct costing of expenses to projects, increasing recovery by 200% per year. Collected $2M+ of account receivables delinquent in excess of 18 months.
Director of International Finance and Administration / Assistant Controller, The M. J. Kelley Company, 1982 - 1988. A $50M mechanical contractor, general contractor, and overseas supply and procurement company. Negotiated terms of Letters of Credit with clients and transfers/assignments to supplier serving as key contact with issuing US banks. Responsible for analyzing project cost variances from budgets. Served as treasurer and controller of an automobile leasing subsidiary. Developed feasibility study for a $44M hotel in Tinjin, China resulting in a general development contract. Managed shipments of supplies to Saudi Arabian projects totaling $75M+ including a terminated project, obtained payment of $6M prior to expiration of Letters of Credit.
Senior Staff Auditor, Deloitte & Touche, 1978 - 1982. Performed the preparation of compilations, reviews and certified audits and related tax returns. Worked on engagements with small to medium size organizations in food processing, construction, land and real estate development and waste management industries. |
