Summary of Experience
A highly motivated, results-oriented financial executive possessing a quality financial educational background and exemplary corporate experience in all aspects of accounting and financial administrative functions. Accomplished in planning and organizing departmental responsibilities to improve effectiveness in continually changing fast paced environments. Proficient at problem solving, through the process of identification, resolution, and prevention. Dedicated to the completion of goals in a timely and efficient manner.
Core Competencies
General Accounting: Monthly Close; Accounts Receivable; Accounts Payable; Payroll; Capital Assets; Taxes
Cash Management: Daily Monitoring; Cash Flow Forecasting; Letters of Credit; Banking Relations
Cost Accounting/Analysis: Project Cost Reporting; Forecasting; Invoicing; Sales Commissions; Insurance Liability
Government Contracting: Progress Billings; Cost Plus Vouchers; Percent Complete Revenue; Average Labor Rates
Financial Planning: Operating Expense Budgets / Rates; Direct Labor / Material Base; Forecasting / Analysis
Audits: Government Compliance -DCMA/DCAA; External Financial Audits; Internal Financial / Operational Audits
1985 to 2008 RECON/OPTICAL, INC., Barrington, Illinois
Historical dominant manufacturer of aerial reconnaissance cameras; and creator of the stabilized remotely-operated weapon systems used in Iraq to save soldiers’ lives.
2005 to 2008 Vice President-Finance. Responsible for the management of all aspects of financial operations, the communication of financial operating results to the Parent Corporation, Board of Directors, and Management, and ensuring integrity of financial analysis, results and forecasts.
* Coordinated and presented financial results, plans, forecasts, and risks / opportunities at the quarterly Board of Director meetings.
* Increased fiscal cash flows in 2005, 2006, and 2007 by $5.2M, $2.5M and $8.5M, respectively, by strategically coordinating early receipts of Progress Billings, and Milestone Advance Payments.
- Negotiated payment terms and Letters of Credit, plus early communication of goals to internal and external customers.
* Supported achievement of a fiscal years’ profit objective (where the last month represented over 50% of the annual profit) by early coordination of opportunities to pursue, continual follow up, and teamwork.
* Identified and resolved $600K of invalid material liabilities, and related invalid progress billings.
* Established the required Disclosure Statement (75 page book), describing company accounting practices, concurrent with receipt of a $50M government contract in accordance with Cost Accounting Standards (CAS's).
* Liaison for Parent Corporation's Research and Development IRS Tax Credit Audit, where over $6M was accepted by the IRS for a three year period, and almost all generated by the Recon/Optical subsidiary.
* Created and/or improved numerous performance measurement reports providing details for analysis, along with summary results, for timely understanding against plans, forecasts and prior periods.
* Installed a shared server to communicate forecast data and analysis, created by Finance personnel with various users.
- Instrumental in providing timely analysis for managing the business.
2001 to 2005 Controller. Responsible for the management of daily financial operations, drafting the monthly communication of financial results, installing a company wide budgeting process, refining financial processes, and ensuring integrity of financial data.
* Implemented a company wide budgeting process that included creating various templates, providing historical information, conducting training, developing mechanisms for disseminating data, and establishing models to summarize and consolidate budgets.
- Facilitated expeditious achievement of resultant rates and P&L impacts.
- Enhancements included a system for Management to generate hour / dollar inquiry reports for their cost center’s labor and related costs, or operating expenses.
* Reduced monthly closings by five days through a teamwork approach of improvements and refinements in processes and procedures.
- Monthly cash flow and P&L forecasts were also accelerated.
- Revisited the requirements for the monthly reporting package, and streamlined the number of statements from nineteen to six.
* Accelerated the Revenue Recognition for ‘Cost Plus’ projects, from a one month lag to a current basis, resulting in increased fiscal revenue of over $500K.
* Identified and resolved a Proposal discrepancy related to average labor rates, increasing the award by 21%.
* Coordinated the clean-up of old In-transit Inventory, reducing the balance by $600K (75%) in a six month period.
* Initiated a Real Estate Tax appeal, producing refunds of $150K over a three year period.
* Supported a Power Outage Claim (half a day loss of work) with the Utility Company, generating a $50K settlement.
* Instituted monthly status reports with insightful comments for Accounts Receivable; Accounts Payable; Fixed Assets; Overhead Rates and Financial Overview of monthly results.
1998 to 2001 Director of Accounting Operations. Responsible for the installation, testing, and controls of a new ERP software, and managing daily financial activities to ensure integrity of financial information.
* Installed Epicore / Impresa ERP and Best ABRA Payroll/HR in the year 2000.
- Aided the development of the Time & Attendance system.
- Created numerous Crystals, (report writer), to manage financial data, and developed a shared server for Crystals and analysis, to promote timely response to inquiries.
* Brought direct labor reporting to a current basis (from past due by up to 6 months), and designed system to capture material cost based upon receipt, instead of payment.
- Permitted more timely and accurate labor and material analysis and financial data.
* Established WEB-based Invoicing with the Government, improving cash receipt time from four weeks to less than five days.
* Designed and installed fully integrated budgeting and forecasting Overhead / G&A expense models, where rate impact can be immediately generated from various “what-if” scenarios.
1985 to 1998 Manager, General Accounting; Supervisor, General Accounting; Senior Financial Analyst; Financial Analyst
* Participated in software selection, and directed the installation and testing for McCormack & Dodge General Ledger. Designed sub-ledger interfaces and input/output controls.
* Developed the chart of accounts, cost center accumulation structure, and overhead rate structure with allocation of costs to final pools.
* Established a “Closing Process User Manual” and various operating procedures and controls.
* Implemented Payroll Direct Deposits, Electronic Funds Transfers and Repetitive Wire Transfers.
Accomplishments across all Recon/Optical, Inc., positions:
* History of satisfactory external financial audits, and government audits.
* History of zero bad debt write offs.
* Respected for cash flow monitoring to significantly improve results.
* Routine achievement of accurate & timely financial statements.
* Provided business and financial direction / information across organizational lines.
* Teamwork environment with emphasis on cross-training.
* Continuous identification of control weaknesses, installing revised procedures.
1984 to 1979 DART & KRAFT, INC., Northbrook, Illinois
A multinational food and consumer products manufacturer and distributor.
Operations Analyst
Senior Auditor
Auditor
* Supported the Acquisition of a new operating unit by conducting a physical and valuing the Inventory and Fixed Assets.
- Participated in the negotiation, and established the Divisional Accounting.
* Implemented a new compliance audit staff, developed audit programs, staffing requirements, schedules and reporting structure.
* Conducted and supervised financial/operational audits, presented results to operating management.
EDUCATION: BSBA – Accounting 1979
The Ohio State University - Columbus, Ohio
CERTFIFICATIONS: Certified Public Accountant 1986
Certified Internal Auditor 1984 |
