OBJECTIVE
A consulting role that will utilize expertise in Strategic Planning/Organizational Development, Corporate Finance and Accounting Reporting, Controls, & Information Management and technical knowledge in Valuation, Fraud Examination, M&A, SOX, and Taxation to assist clients with:
• change management/process optimization procedures to drive financial solutions and program outcomes
• development of strategic financial programs that make organization more competitive in domestic and international markets
• Strategic, financial and business planning
QUALIFICATIONS
• Transitional Planning/Execution
• Project Management
• Corporate Development
• Planning & Analysis
• Taxation
• GAAP
• Technical Research
• Process Improvement
• Business Integration
• Capital Management
• Business Acquisition/Divestiture
• SOX & Controls
• Business Valuation
• Budget Oversight
• Business Restructuring
• Fraud Prevention
EXPERIENCE
Resources Connection, dba Resources Global Professionals, Birmingham, AL 2006 to 2009
Consultant
AlaTrade International, LLC, Guntersville, AL 2004 to 2005
Vice President of Finance & Administration
MVB Financial Services, LLC, Union Grove, AL 2001 to 2004
Managing Member / Consultant
Florida Progress Corporation, St. Petersburg, FL 1983 to 2001
Progress Rail Services Company, Albertville, AL
Senior Vice President and Chief Financial Officer 1997 to 2001
Electric Fuels Corporation, St. Petersburg, FL
Treasurer 1995 to 1997
Florida Progress Corp., St. Petersburg, FL
Director of Strategic Planning 1993 to 1995
Manager, Non-Regulated Group Tax Services 1991 to 1993
Manager, Affiliated Group Tax Services 1989 to 1991
Manager, Tax Accounting 1987 to 1989
Electric Fuels Corporation, St. Petersburg, FL
Manager of Tax Accounting 1983 to 1987
Touche Ross & Co., Jacksonville & Tampa, FL 1980 to 1983
Tax Senior
EDUCATION and PROFESSIONAL DEVELOPMENT
Bachelor of Arts Degree in Accounting from University of South Florida, Tampa Florida
Over 1700 hrs. of Continuing Prof. Education in Accounting, Taxation, Valuation Analysis and Fraud Examination
Basic Comprehension of Spanish and Italian
Certifications/Honors and Awards:
• Alabama and Florida Certified Public Accountant • Certified Valuation Analyst • Certified Fraud Examiner •
• Chairman’s Award for Cost/Price Study for Florida Power •
Technical Skills:
• BAAN IV • SAP • JBA • ALCAR • Business Valuation Pro •
Professional Affiliations:
• Alabama Society and Florida Institute of Certified Accounts • American Institute of Certified Accountants •
• National Association of Certified Valuation Analysts • Assoc. of Certified Fraud Examiners •
ACHIEVEMENTS
Strategic Planning/Organizational Development
Grew Rail Services Business Unit as strategic buyer by pricing, structuring, and negotiating, transactions. Performed business purchase investigation procedures, including financial due diligence, managed legal, human resources, operational, and environmental due diligence; coordinated closing /post closing activities. Results: In two years, eliminated unacceptable candidate companies and closed six business acquisitions, requiring $157M of invested capital; within two years after closings, revenues increased from $322M to $478M and net income increased from $9.4M to $13.3M or $3.9M.
Expanded barge and tow boat capacity for Inland Marine Business Unit by directing strategic planning process. Endorsed expansion strategy with COO; produced financial cases and contributed to development of $300 to $400M barge expansion proposal to Finance and Budget Committee of Board of Directors; while considering capital constraints, proposed Synthetic Lease structure and evaluated bids. Results: Expanded fleet size from 600 barges and 21 tow boats to 1,200 barges and 30 towboats over three year period; revenues increased from $105M to $162M and net income increased from $5.9M to $9.1M or $3.2M; positioned unit for sale at $270M in proceeds.
Laid foundation for synthetic fuel credit program by championing opportunity to invest in transaction eligible for $52M per year of tax credits. With developer, presented opportunity to potential customers and addressed business issues related to EPC contract; drafted Request for Private Letter Ruling regarding qualification; Coal Business Unit executed strategy to acquire financial interests in seven synthetic fuel plants. Results: Business unit increased sales revenue, profitability, and generated approximately $2B in tax credits.
Corporate Finance Management
Increased shareholder value by redeploying investments in financial assets (railcars subject to leases) into core business and projects capable of generating higher financial returns. Provided capital management activities including structuring, review and approval of retained risks, execution of Progress Rail guarantees, and confirming accounting/tax ramifications; planned and executed 16 sales transactions related to financial assets with proceeds of $196M over four year period. Results: Net income increased by average of $2.5M per year over four years for total of $10M.
Raised capital using sale/leaseback transactions to reduce interest expense. Set financial objectives to find alternative means of funding that did not involve increasing corporate debt and keeping invested capital low in order to increase ROIC metric; requested proposals, chose best terms and conditions, and documented $28M barge and $6.0M aircraft transactions. Results: Annual interest costs were reduced by $1.5M for approximately $.9M in net income.
Minimized tax liabilities through tax planning strategy. Company acquired holding company of several building product subsidiaries for approximately $28M and recorded $7.0M of “book” goodwill, which was component of stock basis; after change in company direction, subsidiaries became divestiture candidates and were to be sold to different buyers over time; utilizing tax planning technique called “Son of Mirrors”, company was reorganized to facilitate orderly liquidation of divestiture candidates. Results: Realized $2.8M tax benefit by shifting goodwill component in tax basis of holding company’s stock to tax basis of divestiture candidates’ stock.
Accounting Reporting, Controls & Information Management
Led SOX process for Huntsville diesel engine manufacturing facilities, owned by $9B Navistar Corporation. Given results of previous external SOX assessment, remediated non-compliant financial controls; assumed “SOX Manager” role over following two annual cycles, including preparation of process narratives (revenue, inventory, fixed assets, payroll, and financial statement close), ongoing remediation of non-compliant controls; and liaison between accounting, finance, E&Y, and Navistar’s internal control and SOX personnel. Results: Successfully remediated deficient controls; completed management assessments in timely manner; created methods and procedures documents for two manufacturing plants.
Directed implementation of Baan IV ERP system for two major divisions with over $500M in revenue, over 25 physical operating locations, and over 2300 employees. Given responsibility for Y2K compliance; recognized that technology needed upgrading and standardizing. Results: ERP system was implemented in 18 months, resulting in centralization of purchasing; streamlined accounts payable, standardized accounting processes and improved financial roll-up capabilities; management tools and reports were enhanced with higher visibility to key financial information.
Drove quick completion of first time three year financial audit for $1B business. Company had not had comprehensive audit and was suddenly required to have audit within 100 days; worked with audit team to educate them on operational procedures, especially financial operations, and complex leasing transactions; provided documentation for audit team that was critical for completion of audit. Results: Received unqualified opinion within 100 days, meeting stringent requirements of Morgan Stanley Dean Witter’s sales process for business unit. |
