CHIEF FINANCIAL OFFICER
Strategic Financial Leadership Significant Cost Reductions Improved Cash Flow Regulatory Compliance
Accomplished, business-focused financial executive with outstanding record of creating and implementing strategies, policies, and procedures to enhance overall profitability of companies spanning a range of industries. Trusted partner and keen analyst with exceptional ability to see the business drivers behind the numbers and provide functional reports to improve organizational direction. Adept at ensuring compliance with SOX and state / Federal regulatory commissions. Demonstrated capability to manage external audits and produce favorable results. Proficient at leading all aspects of turnarounds and M&A, including due diligence, business analysis / planning, and risk management. Extensive tax and international business experience. Polished professional with exceptional communication skills and negotiation talents.
Selected Achievements
Planned and implemented effective tax strategies to achieve savings of $2-$5M / year in Puerto Rican facility, $200K in state income taxes, and $200K in a Florida income tax audit. [Optical Radiation Corporation]
Negotiated favorable settlement with IRS audit by retaining over $5M in NOL carryovers. [Emrise Corporation]
Saved ~$500K by negotiating with IRS to allocate selling price among foreign / US assets and utilize foreign tax credits. [Unit Instruments Inc.]
Reorganized accounting department, which improved responsiveness to divisional needs while reducing annual costs $300K. [Emrise Corporation]
Secured $200K in tax depreciation savings by installing new fixed asset accounting system. [Unit Instruments, Inc.]
Replaced costly auditing firm to improve domestic / international relationships and save ~$65K / year. [Emrise Corporation]
Negotiated property tax reduction of 30% (from $120K to $85K). [Unit Instruments, Inc.]
Areas of Expertise
Strategic Planning Turnaround Management System Integrations / Conversions
Policies and Procedures SOX / Regulatory Compliance SEC Reporting
Extensive Tax Experience Project Management Financial / Business Plans
International Business Due Diligence / M&A Accounting / Budget Planning
Cost Controls Risk Management Audits / Negotiations
PROFESSIONAL SUMMARY
EMRISE CORPORATION (NYSE Arca: ERI) Rancho Cucamonga, CA
Manufacturer of telecommunications equipment and electronic components with annual sales of $46M
Senior Vice President | Chief Financial Officer | Corporate Secretary 1999 to 2007
Formulated and led all aspects of financial plans and functions, including: business planning, accounting, budget planning / expense control, forecasting, risk management, MIS, taxation, HR, investor / banking relations, SEC reporting (10K, 10Q, 8K, S1, S3) and legal affairs.
Managed five direct / four indirect reports.
Oversaw international accounting issues, including currency conversions, consolidations of international subsidiaries, and operations of three foreign subsidiaries.
Optimized existing systems; improved internal controls / operational procedures; and focused overall financial picture via enhanced management reporting.
Reorganized accounting department, which improved responsiveness to divisional needs while reducing annual costs $300K.
Initiated performance-driven team environment and ensured harmonious employee / employer relations by fostering a proactive culture.
Led selection and implementation of ERP system to provide a complete enterprise management infrastructure.
Developed and implemented comprehensive financial systems, internal controls, and accounting processes / protocols to ensure compliance with all Sarbanes-Oxley (SOX) and regulatory requirements.
Directly contributed to sophisticated transactions including multiple acquisitions and a divestiture.
Played key role as company’s financial spokesperson with the Board, investment community, outside auditors, banks, law firms, and various regulatory agencies.
Applied financial planning and analysis to a broad range of business problems to formulate creative solutions:
• Negotiated favorable settlement with IRS audit by retaining over $5M in NOL carryovers.
• Replaced costly auditing firm to improve domestic / international relationships and save ~$65K / year.
• Completed several annual audit cycles with minimal adjustments and initial audit cycle with no excess billing hours.
• Assessed and replaced law firm to improve corporate professionalism and expertise.
• Responsible for the completion of acquisitions, divestitures and managed the tax administration and risk management.
UNIT INSTRUMENTS, INC. (acquired by US Filter Corporation) Yorba Linda, CA
$52M public worldwide manufacturer of products used in semiconductor wafer manufacturing process
Corporate Controller 1995 to 1999
Played critical role in maintaining a robust control environment; produced all financial statement filings with the SEC to ensure the Company’s financial integrity.
Managed one direct and four indirect reports within AP / AR / Payroll, and interfaced with Cost Accountant to produce accurate financial statements.
Held advisory responsibility for three international subsidiaries.
Ensured timely / accurate reporting of all financial matters.
• Collaborated with CFO and Accounting Manager to coordinate / prepare budgets and develop a strategy to renovate and refine the reporting and analysis environment, which improved the accuracy and efficiency of reporting cycle.
• Led on time / within budget implementation of company-wide accounting, manufacturing, and marketing ERP system.
• Secured $200K in tax depreciation savings by installing new fixed asset accounting system.
Served as key financial leader on cross-divisional / cross-departmental initiatives to solve large-scale, complex issues and improve operating environment:
• Prepared consolidated federal tax returns and managed IRS audits
• Played key role in integrating merger of $80M parent company into corporate entity; directed all domestic / foreign tax and financial functions and discontinued operations analysis.
• Saved ~$500K by negotiating with IRS to allocate selling price among foreign / US assets and utilize foreign tax credits.
• Performed due diligence for acquisition of $11M manufacturing company.
o Determined accounting policies of acquiring company and researched tax issues.
o Led liquidation of subsidiary facility and distribution of assets after market decline.
• Negotiated property tax reduction of 30% (from $120K to $85K).
OPTICAL RADIATION CORPORATION (subsidiary of Benson Eye Care Corp.) Azusa, CA
$300M public manufacturer of high tech optical products
Director of Tax and Finance 1985 to 1995
Oversaw all tax / finance functions and collaborated with executive management of 20 subsidiaries.
Coordinated preparation of 100+ multi-state income tax and consolidated returns and assisted with SEC reports.
Provided guidance regarding tax and GAAP to accounting managers.
Coordinated federal and state audits and negotiated settlements.
Analyzed financial impact of completed and planned M&As.
Led conversion of Optical Radiation’s financial reporting system to the Benson eye care system to achieve financial reporting consistency throughout the Company.
Created and implemented the overall taxation structure, policies, and strategies during growth from a single entity into a multi-location national enterprise.
• Planned and implemented effective tax strategies to achieve savings of $2-$5M / year in Puerto Rican facility, $200K in state income taxes and $200K in a Florida income tax audit.
(Previous Experience includes: Tax Manager at Cubic Corporation, Corporate Tax Manager at Western Gear Corporation, and positions at Twentieth Century Fox Film Corporation, Atlantic Richfield, and First Western Bank)
EDUCATION, CERTIFICATIONS, AND AFFILIATIONS
MBA ♦ Golden Gate University - Los Angeles, CA - 1979
BS, Business Administration ♦ California Polytechnic University - Pomona, CA - 1973
Passed all parts of the California CPA examination
Member ♦ Tax Executives Institute
Member ♦ Institute of Certified Manag |
