Synopsis:
Senior Financial Executive, CFO, Controller with extensive experience in finance and operations. Skilled in translating shareholder and customer expectations into organization actions, and in implementing effective tactics. Business partner to key management. Trained in medical processes and treatment.
MBA, University of Michigan, Graduated with Distinction in Finance and Accounting.
High standards and integrity that develop trust, confidence, and free idea exchange.
Extensive experience in: Fortune 100 and small firms, high technology fast paced environments, defense and commercial contracting.
Interested in high tech company including medical tech.
*Led the financial and accounting organization of $1B Sector of Fortune 100 international company.
*CFO subsidiary of high-tech corporation.
*Increased revenue 1000% in three years.
*Turned around financial organization to one of the best in the sector.
*Increased Return On Capital by 225% in one year by rationizing productlines.
*Invented and implemented a financial development program which has contributed 50% of the senior financial leadership to the $1B sector.
Developed numerous organizations. Experience in financial reporting, cost accounting, consolidations, P&L, cashflow management, financial planning, internal audit, CAS, and FAR. Know how processes need to change to sustain growth. Experienced in improving value added processes. Currently working on Sarbanes Oxley.
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 manufacturer and for multiple business units of a Fortune 100 international corporation. Manage by mutual trust, respect, frankness, and free exchange of ideas. Use best experts with ability to see future solutions and problem solving skills in any process and problem-solving situation.
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.
Translate numbers into identifiable actions.
Work collaboratively with others to improve value added processes and lower cost— believe improvements should be real workable solutions real people can use.
Improve quality and customer focus, reduce cost and time by ensuring employees have training needed to make decisions at the lowest competent level within organization
Implemented a complete new financial information system as well as an enterprise resource planning (ERP Oracle) system.
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.
Implemented ISO and TL 9000. Trained in Demand Flow manufacturing.
Led department TQM to achieve process and productivity improvement saving 20% in cost.
Used cost driver analysis to reduce cost.
Restructured and regenerated the administration departments in my division reduced people by 30% and overhead by 50%. Reworked processes to eliminate non value added components.
Believe effective work is a triangle of performance,
learning, and enjoyment in creating profitable growth
Professional Experience
Financial Management Consultant Melbourne, FL 2003-Present
Provide management and business process consulting on contract to a Fortune 1000 former employer plus other firms.
* Worked with program team on a $1B plus program to improve internal control processes and reconciliation of inventory. Resulted in improvement in both process and a clean Sarbanes Oxley audit.
* Reviewed new computer product used for secure communications, evaluating market potential, sales and engineering processes for product development and customer support. Resulting in highlighting needed changes in processes and in evaluating the market potential.
* Provided complete review of all financial control processes, inventory control processes and efficiency of a new product area. Evaluated for effectiveness and compliance with government and GAAP regulation. Resulted in a more active financial role and improved internal process control and inventory management.
* Evaluated potential acquisition for client that resulted in highlighting to the acquiring management their firm's core competency and a decision not to purchase the potential acquisition. Provided advice on preparing the acquiring 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 (& Administration)
Head of finance and accounting, information technology, human resources, contracts, and administration services; staff of 20; budget of $5.2 million. Managed subsidiary in absence of CEO/President.
* Joined an organization with significant obstacles to reaching aggressive internal target goal of $100 million in sales. Worked directly with CEO to establish processes to encourage growth and helped grow revenue from $9.4 to $102 million in three years, achieving 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
assessment of how to improve our processes.
- Expanded training and information for employees to better understand and perform their roles.
* Established processes to achieve dynamic profitable growth including 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), UBP was one of the first at JDSU, served on corporate steering committee for the system. Heavily involved in design of the financial module and interface with other modules.
* Worked with CEO as chief architects of new organization, creating product teams under the marketing director of each product. Coached team directors in establishing and executing business plans and Director of Material in managing inventory orders.
- Merged cultures of four different companies by having engineering, product team directors and VP of manufacturing work on a system design from product need identification, to initial design, to introduction in manufacturing, to full production.
- Identified need for restructuring and reduced headcount and expenses 30% to achieve plan in 2002.
* Negotiated tax incentive to locate the new subsidiary in Melbourne. Coordinated activities of synthetic lease financing, Airport Authority, and construction company to build new building.
Harris Corporation Melbourne, FL 1978-1999
Fortune 200, $4 billion multinational manufacturer of communication equipment and systems; 27,000 employees.
Communication Systems Sector 1997-1999
Group of six divisions in commercial and international markets: microwave, television broadcast, RF communications, telephone test sets, PBX equipment, and network management software; $900 million revenue.
Controller: Telecommunication Systems and Services Division
Managed financial operations, contracts, and purchasing for new Division that produced network management software and communication systems. Provided associated services primarily for commercial customers; staff of 20; $3.2 million budget.
Produced average ROS of 6.9% that was 25% over FY 97; ROCE of 136% that was 125% over FY 97. Generated 1.8 times more positive cash flow than planned.
* Worked with product line VP's and GM to rationalize product lines, exit low performing products, and add resources to higher potential products.
- Increased new network software product profit 97% and revenue 81% over FY 97.
- Performed acquisition analyses for network products, which led to teaming agreements.
- Negotiated sale of a potential software product line (which had no record of sales) at $1 million, doubling the division profit.
* Served as Business Standards Advisor for Division ensuring corporate policy and legal compliance.
* Appointed by GM in 1998 as Director of the Services Business Product Line, while still acting as Controller. Achieved the plan the first year, with business in the USA, Eastern Europe, and southern Africa.
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 Division 1991-1997
Managed financial operations, contracts and administration for high performing, high quality division which served customers with ground communication systems. Staff of 110; $5.6 million budget. $289 million revenue.
* Served on Senior Management Operations Committee, the chief operating body of the Division. In addition, filled role of Business Standards Advisor.
- Acted as steering committee for Total Quality Management and customer satisfaction programs using projects as foundation for certification as ISO 9000 supplier.
- Used various techniques of process mapping, brainstorming, fishbone diagram, the five “Why’s” and other tools to solve problems
- 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, using them in the strategic plan to identify each division's intent, gaps to meeting 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 focused on being innovative financial experts and active partners in the division’s growth and profitability. Committed to creating an environment that encouraged personal and professional growth and learning, where everyone was challenged and respected.
- Engaged employees in creating vision, mission statement, values and behaviors through Steven Covey principles and used these values and behaviors as measurements in formal reviews.
- Cross-trained financial employees and trained non-financial employees in key financial and regulatory issues. Other divisions began asking CSD finance how to do things and attended our training classes.
- Took over for GM in training new division employees in how we did business with our customers.
Awarded Division TQM Manager of the Year for turnaround and contribution to process improvements.
* Enhanced division financial performance by improving both investment levels and returns.
Produced ROS of 4.9% vs. goal of 4.5% and 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.
- 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.
Actual cashflow for 6 years was $33 million positive vs. plan of $13 million. Division grew at 4.5% compound growth rate to $289 million in sales during these years while the market declined by 1.5%.
* Set up new product areas to facilitate product developments in a contracting environment.
- Worked with venture capital firm 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.
* Combined organizations under the Controller's office to reduce redundancy in administrative areas, including contracts, program administration, department administration, and finance.
- Redefined procedures to eliminate work and non-value added processes and wrote new job descriptions for all divisions.
Reduced Controller's combined overhead $1.7 million or 50%.
Controller, Sector Operations Division 1988-1991
Maintained duties as Director, Financial Planning/Accounting and assumed additional duties as Controller for the operations organization. 1,100 person central manufacturing organization and 1,000 person 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 Sector. Reported directly to the Vice-president/Sector Controller and acted for him in his absence.
* Managed by mutual trust, respect, and frankness. Used best experts with ability to see future solutions and problem solving skills in any process and problem-solving situation.
* Analyzed and highlighted risk areas for the Sector 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. Developed full-fledged divisions with experienced management and provided financial management to divisions in ESS, other sectors of Harris, and the corporate office.
Revenue increased from $293-$940 million within 10 years,
an annual compound growth rate of 12% while market grew at 4.8%.
* Designed and installed completely new Financial Information System by major components, annually. Highlights included self balancing ledgers and sub-ledgers with detailed reports of out of balance conditions, fully automated government billing, automatic three way match accounts payable, on-line travel and timekeeping systems, etc.
Reduced closing cycle from 14 to 4 days with key results available within 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 partner and senior managers of Ernst and Young.
- 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 as ombudsman with employees and liaison with management to ensure compliance with procedures and regulations in business execution.
* Started the People Program in my department, one of the first total quality programs. Focused on the “Dumb List” and organized around functional processes, identifying what wasn’t working and creating improvements, making everyone responsible for efficient processes.
- Reinvigorated the whole concept and got people excited about creating solutions by reorganizing teams around processes in cross-functional areas.
- Reduced headcount 25% and cost 20%, by not replacing attrition and changing processes.
Became increasingly aware of the power of the employees
and what can be done if they trust you and you trust them.
* Benchmarked with other organizations such as The Hackett Group, TRW and CAM-I (Consortium for Advanced Manufacturing Int.) with IBM, Chrysler, 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 because it showed the project investment impact in pricing proposals and achieved improved pricing for ROS and ROI requirements.
Manager, General Accounting, Planning/ Budgets 1980-1982
* Conceived and led the creation of a highly successful one-year development program for new MBA’s and BA’s to attract top talent who could bring the sophisticated tools and analysis required to grow profitably.
- New recruits learned differences between classroom and real life finance by working in key areas of the divisions. Program is still in effect, contributing more than 50% of senior finance management.
Financial Analyst 1978-1980
* 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 Honors in Economics; Michigan State University |
