SYNOPSIS:
Financial Executive, CFO, Controller with extensive experience in finance, accounting, and operations. Experienced in healthcare IT development and network management software development, also in high tech communication products and systems design and manufacturing. Served U.S. government, commercial, hospital, and international customers and suppliers. Trained in medical processes.
*MBA, University of Michigan, Graduated with Distinction in Finance and Accounting.
*Manage with high standards and integrity that develops trust, confidence, and free idea exchange. Use best experts with ability to see future solutions and problem solving skills in any process and problem-solving situation.
Extensive experience in: Fortune 100 and small firms, high technology fast paced environments, government, commercial, and international customers. Interested in high tech companies including medical tech and healthcare IT.
*Skilled in translating shareholder and customer expectations into organization actions. Business partner to key management.
*Led the financial and accounting organization of $1B Sector of Fortune 100 international company profitably growing revenue from $293M to $1B in 10 years.
*CFO subsidiary of high-tech fiber optic communication equipment corporation, grew revenue and profit 1000% in three years to over $100M in revenue.
*Turned around financial/accounting organization of $300M division from worst to one of the best in the sector.
*Increased Return On Capital by 125% in one year by rationalizing product lines.
*Invented and implemented a financial management development program which has currently contributed 50% of the senior financial leadership to a $1B sector of Harris Corporation.
*Designed and implemented new on-line financial information system reducing closing cycle from 14 to 4 days with key results in 24 hours.
* Eliminated redundancy in administrative areas, by combining contracts, program administration, department administration, and finance under the Controller's office.
Reduced controller's overhead by $1.7million or 50%.
*Experienced in leading tactical actions that preserve core competencies in difficult economic conditions
Developed numerous financial organizations. Experience in financial reporting, cost accounting, consolidations, P&L, cash flow management, financial planning, internal audit. Know how processes need to change to sustain growth and profitability. Experienced in improving value-added processes and Sarbanes Oxley. Led department TQM to achieve process and productivity improvement saving 20% in cost. Used cost driver analysis to reduce cost.
*Collaborate with others to improve value-added processes by improving quality and customer focus, and reducing cost and time to market.
Expertise in managing people and financial analysis/planning as CFO, Controller, Product Line Director, Acting GM, acting Sector Controller, and Business Standards Advisor for a subsidiary of a major international fiber optics communication manufacturer and for multiple business units of a Fortune 100 international corporation.
*Focus on strategic long-term market position, risk identification and mitigation, leveraging core competencies, and deploying strategy throughout the organization.
*Manage cost and investment to meet expected returns when they are committed rather than when spent.
Implemented a complete new financial information system as well as an enterprise resource planning (ERP Oracle) system.
Implemented ISO and TL 9000. Trained in Demand Flow manufacturing.
Managed contracts, administration, information technology, human resources, finance and accounting, and a product line. Worked closely with manufacturing, materials, R&D engineering, and marketing organizations to achieve the business plan.
PROFESSIONAL EXPERIENCE
FINANCIAL MANAGEMENT CONSULTANT MELBOURNE, FL. 2003-PRESENT
Provided management and business process consulting to Harris Corporation and other companies in the area.
* Led the financial integration of a $400M acquisition by Harris. Included year-end reporting, SEC 8K and 10K, setting annual budget to capture synergy projections, Sarbanes Oxley, sales & use tax, and IT.
* Established processes with Harris program team to fix internal controls before a Sarbanes Oxley (SOX) audit of inventory and depots on a $1.5B 15-year program. Resulted in established controls and clean SOX audit by a big four audit firm.
* Evaluated processes for new Harris computer product area used for secure communications, resulting in a change in product area leadership, a realistic potential product market for management, improved process coordination of the sales and engineering organizations for product development and customer support.
* Evaluated a Harris product area's processes for effectiveness, and compliance with government regulations and GAAP. Changed financial organization's role to be more active and created better internal financial process controls and inventory management in the product area. Product area passed the SOX audit.
* Analyzed potential acquisition for non-Harris client that resulted in identifying to the client how the potential addition was not in their core competency. Provided advice on how to prepare the client's company for sale.
JDS UNIPHASE BROADBAND PRODUCTS, INC.(UBP) MELBOURNE, FL 1999-2002
Wholly owned subsidiary of JDS Uniphase Corporation of San Jose, California. A $1.5 billion multinational fiber optics communication equipment manufacturer with over 10,000 employees.
CHIEF FINANCIAL OFFICER (AND ADMINISTRATION)
Head of finance and accounting, information technology, human resources, contracts, and administration services; staff of 20; budget of $5.2 million. Acting CEO/President in absence of CEO/President.
* Worked directly with CEO, established processes to grow revenue from $9.4 to $102 million in three years, beating internal target goal of $100 million in sales. Achieved growth with internally generated cash flow.
-GREW REVENUE OVER 10 FOLD, ACHIEVED ROS OF 12% AND ROE OF 65%
* Developed relationship of trust with President/CEO and staff, emphasizing customer focus and continuous value added improvement of processes.
* Established the first budgeting, potential customer orders forecasting, and standard cost systems. Established method of tracking headcount to expenses and sales to ensure profit.
* Installed first ERP system (Enterprise Resource Planning - Oracle), served on corporate steering committee for the system.
* Worked with CEO as chief architects of new organization, creating product teams and merging four different company cultures.
* Coached product team directors in establishing and executing business plans and Director of Material in managing inventory orders with ERP.
* Identified need to restructure in the market down turn, reduced headcount and expenses 30% to achieve plan in 2002.
* Negotiated tax incentive and worked with Florida legislature to change tax law to locate in Melbourne. Coordinated activities of synthetic lease financing, Airport Authority, and construction company to build new building.
HARRIS CORPORATION MELBOURNE, FL 1978-1999
Fortune 100, $4 billion multinational manufacturer of communication equipment and systems; 27,000 employees.
CONTROLLER: TELECOMMUNICATONS SYSTEMS AND SERVICES DIVISION 1997-1999
COMMUNICATION SYSTEMS SECTOR
Managed financial operations, contracts, and purchasing for the NEW DIVISION that produced network management software, communication systems, and provided associated services primarily for commercial customers. Provided healthcare IT services including electronic medical records and network. $30M in sales. Staff of 20; $3.2 million budget. Business Standards Advisor for Division ensuring corporate policy and legal compliance.
-PRODUCED AVERAGE ROS OF 6.9% THAT WAS A 25% INCREASE: ROCE OF 136% WAS 125% INCREASE. EXCEEDED POSITIVE CASH FLOW PLAN BY 1.8 TIMES.
* Rationalized product lines with VP's and GM, exited low performing products, and added resources to higher potential products.
- Increased new network software product profit 97% and revenue 81% over previous year, FY 97.
- Performed acquisition analyses for network products, which led to teaming agreements instead.
- Negotiated sale of a potential software product line (which had no record of sales), doubling the division profit.
* Director of the Services Business Product Line as appointed by GM in 1998, while also Division Controller. Achieved the annual plan, with business in the USA, Eastern Europe, southern Africa, and with World Health Organization.
ELECTRONIC SYSTEMS SECTOR 1978-1997
Group of 13 divisions and subsidiaries that produced communication and control systems, and scientific computers for the U.S. Government, commercial, and international customers; 8,000 employees; over $1 billion in revenue.
CONTROLLER: COMMUNICATION SYSTEMS DIVISON (CSD),
ELECTRONIC SYSTEMS SECTOR
1991-1997
* Managed financial and accounting operations, contracts, and administration for high performing, customer-focused division. Was division Business Standards Advisor. Products ranged from systems with large satellite antennas to miniature fiber optic devices. Staff of 110; $5.6 M budget, $289 M revenue.
* Served on Senior Management Operations Committee, the chief operating body of the Division.
- Acted as steering committee for Total Quality Management and customer satisfaction programs using projects as foundation for certification as ISO 9000 supplier.
- Implemented review process for key decisions and worked with key employees to emphasize customer focus.
RANKED IN TOP TWO DIVISIONS IN THE CORPORATION FOR FINANCIAL RESULTS.
EARNED CORPORATION'S HIGHEST SCORE FOR INTERNAL VERSION OF THE MALCOLM BALDRIGE AWARD.
* Introduced concepts of Strategic Intent and Core Competencies to the corporation and the Sector, used them in the strategic plan to identify each division's intent, gaps to meet it, core competencies and how to protect and add to them.
* Transformed division financial organization from sector's worst to one of the best. Created a team of innovative financial experts and partners in the division's growth and profitability. Provided an environment of professional growth and learning, where employees were challenged and respected.
- Engaged employees in creating vision, mission statement, values and behaviors using Covey principles
- CSD finance became a resource for other divisions who then attended CSD training classes.
AWARDED DIVISION TQM MANAGER OF THE YEAR FOR TURNAROUND OF ORGANIZATION AND PROCESS IMPROVEMENTS.
* Enhanced division financial performance by improving both investment levels and returns.
-PRODUCED AVERAGE ROS OF 4.9% VS GOAL OF 4.5% AND AVERAGE ROCE OF 16% VS GOAL OF 12%.
- Worked with contracts and program managers to set goals and provide support for collections.
--REDUCED COLLECTION-CYCLE FROM 32 DAYS TO 28 DAYS AND MAINTAINED IT FOR FIVE YEARS.
- Took actions in accounts payable credits, outstanding claims, billing issues, reduced time card expense, and unallowable cost that increased income over $5.2 million.
-DIVISION GREW SALES FOR 6 YEAR PERIOD AT 4.5% COMPOUND GROWTH RATE TO $289M WHILE MARKET DECLINED BY 1.5%. ACHIEVED CASH FLOW OF $33M POSITIVE VS PLAN OF PLUS $13M.
* Wrote booklet on how to increase Return On Capital Employed (ROCE) which became the standard for the Sector. Used it in teaching contract and program employees.
* Worked with venture capital firm and investment bank to establish an L.L.C. for a new non-strategic product that added over $5 million in valuation for the division and the corporation.
* Established new initiatives to improve financial results including changing reporting emphasis to show where we were headed instead of where we had been. Created and implemented shared services with the sector.
- Used activity based cost driver analysis to identify and reduce key cost issues.
* Eliminated redundancy in administrative areas, by combining contracts, program administration, department administration, and finance under the Controller's office.
-REDUCED CONTROLLER'S OVERHEAD BY $1.7 MILLION OR 50%.
CONTROLLER, SECTOR OPERATIONS DIVISION 1988-1991
Maintained duties as Director, Financial Planning/Accounting for the Sector and assumed additional duties as
Controller for the operations organization: 1,100 person central manufacturing organization and 1,000 person sector support organization. Staff of 46; budget $4.5 million. Sector revenue of $940M in 1991.
DIRECTOR, FINANCIAL PLANNING/ACCOUNTING, ELECTRONIC SYSTEMS SECTOR 1982-1988
Led financial reporting, accounting, internal audit, financial planning and analysis, taxes, capital, and the Financial Information System for the entire $1B Sector. Reported directly to the Vice-president/Sector Controller and acted for him in his absence.
* Analyzed and highlighted risk areas by division for Sector management reviews to establish Annual and Strategic plans, and to reduce or address the plan risk.
-PRODUCED ROS FOR 10 YEAR AVERAGE OF 5% VS. GOAL OF 4.5% AND ROCE OF 23% VS. GOAL OF 12%.
Led creation and acclimation of 10 new business entities in accounting and budgeting systems of the Sector as it grew from 3 to 13 divisions/subsidiaries. Provided financial management to divisions in ESS, other sectors of Harris, and the corporate office.
-INCREASED REVENUE FROM $293-$940 MILLION IN THE 10 YEARS, AN ANNUAL COMPOUND GROWTH RATE OF 12% WHILE MARKET GREW AT 4.8%
* Led the design and installation of completely new Financial Information System. Collaborated by major component with our internal IT department to design and install a futuristic Financial Information System.
-REDUCED CLOSING CYCLE FROM 14 TO 4 DAYS WITH KEY RESULTS AVAILABLE IN 24 HRS.
* Successfully led Sector annual accounting close for 10 years; rated in top two close packages for the corporation each year. Coordinated audit with senior management of Ernst and Young with positive results.
- Led IRS audits for sector; saved $1.5 million in adjustment with just one audit.
* Worked with Sector counsel to establish Business Standards Liaison Officer - ombudsman with employees and liaison with management to ensure compliance with procedures and regulations in business execution.
* Started one of the first total quality programs in my department.
-REDUCED HEADCOUNT 25% AND COST 20% THROUGH TRAINING, ATTRITION, AND CHANGING PROCESSES.
* Benchmarked with other organizations such as The Hackett Group, TRW, CAM-I (Consortium for Advanced Manufacturing International.), IBM, TI, McDonald Douglas, and Boeing; continually learning and applying new ideas to our organization.
* Created computer model that was a new milestone in financial analysis at ESS because it showed the NPV project investment impact in pricing proposals and achieved improved pricing for ROS and ROI.
Manager, General Accounting, Planning/ Budgets 1980-1982
* Conceived and led the creation of a highly successful development program for new MBA's to attract and train top talent. Program currently has contributed more than 50% of senior financial management.
* Created first computer model to analyze and create division financial plans for Annual Operating Plans and Five-Year Guide Plans. Copied by corporate headquarters for use and consolidations.
EDUCATION
MBA - Graduated with Distinction in Finance and Accounting; University of Michigan
BA - Graduated with High Honor in Economics; Michigan State University |
