Finance professional with 20 years experience in all areas of accounting and finance including general and cost accounting, financial reporting, budgeting and forecasting, financial analysis, internal controls, and third party logistics contract negotiation and management. Industry experience includes consumer electronics and semi-conductor capital equipment manufacturing and supply chain operations.
PROFESSIONAL EXPERIENCE
Director of Finance, North America Operations, May 2007 - Current Provide financial support to Vice President, North America Operations and team responsible for order entry and management, customer call center, transportation and distribution, project management and quality. Organization represents $150 million in annual operating expenses. Accomplishments include: Prepared strategic analysis of North America distribution network resulting in plan to reduce from six finished goods distribution centers to two with annual cost savings of $4 million and a $15 million reduction in North America finished goods inventory. Developed and negotiated new fixed/variable pricing structure with current North America logistics provider resulting in annual savings of $4 million. Worked with Director of North America Distribution, Corporate Legal, and our third party logistics (3PL) provider on contract amendment language. Developed daily reporting of North America revenue, bookings, and open orders including forward looking revenue projections based on historical performance. Subsequent to acquisition, the company went through a significant reorganization including the establishment of a new North America Operations team. Developed new cost center structure to allow for budgeting and financial reporting of the new organization.
Director of Finance, Global Supply Chain, April 2006 - May 2007 Responsible for worldwide supply chain financial issues including raw materials warehousing, transportation, and finished goods distribution costs resulting in $250 million annual spend. Provide financial and contract support for Vice President, Global Supply Chain and team. Accomplishments included:
Developed supply chain financial reporting package including analysis of company-wide gross margin, freight and distribution expenses, and inventory. Analysis helped drive actions that reduced total supply chain expenses from 11.9% of revenue to 8.7%. Presented package at quarterly supply chain operations reviews and town hall meetings. Worked with Director of Global Transportation to develop and implement management approval process for airfreight. Approval process assisted in reduction in airfreight expense from $39.3 million in 2005 to $12.5 million in 2006 and $7.0 million in 2007. Developed strategic sourcing model comparing total product and supply chain cost between current Asia manufacturing operations versus North America and European manufacturing alternatives (in-region sourcing versus low cost region analysis). Participated on three person team to establish request for proposal for the North America distribution network. Developed pricing structure used for the proposals, analyzed results, and developed recommendation presentation for executive management.
Finance Consultant, March 2004 - April 2006 Served as a Finance Consultant for the Global Supply Chain Division. Provided financial analysis and support to the North America Operations and Supply Base Management organizations. Accomplishments included:
Prepared strategic business case analyzing inbound freight, assembly, and distribution costs between Mexico and US locations. Presented results to executive management including Division President. Project resulted in relocation of final stage assembly operations to US location with $15 million cost savings over three-year period. Led cross-functional project team to redefine Supplier Managed Inventory (SMI) process for the company. Worked directly with Supply Base Management, Corporate Legal and Corporate Finance to strengthen Lexmarks position relative to SMI. Resulted in $40 million inventory reduction by getting Lexmarks largest supplier on SMI program. Led cross-functional team to develop new pricing between Lexmark and third party logistics (3PL) provider. Analysis included time studies of warehouse operations, understanding of 3PL costs and financial results and negotiating updated logistics rates directly with 3PL. Led Sarbanes Oxley reviews of final stage assembly and logistics providers. Developed detailed audit plan, scheduled site visits, performed process reviews and controls testing of all key controls and reported results to Corporate Accounting and management.
Global Spares Logistics Controller, October 2002 - March 2004 Responsibilities included third party logistics contract review and management, financial and operational controls, costs, and inventory issues for three global distribution centers located in Europe, Asia and North America. Accomplishments included:
Established productivity metrics resulting in the reduction of North America distribution center headcount from 283 to 146 in nine months with annual savings of $8 million. Developed transaction based pricing model to allow contract change from cost plus to transaction pricing. Renegotiated contract rates resulting in $1.2 million annual savings. Partnered with Director of North America Logistics to develop a request for proposal sent to four third party logistics providers. Evaluated responses to determine logistics provider and location of North America distribution center. Participated in weekly operations reviews of North America distribution center and quarterly reviews of the European and Asian distribution centers.
Director of Finance, October 2001 - October 2002 Responsibilities included all accounting and finance functions including financial reporting, budgeting and forecasting, general ledger, cost and inventory accounting, accounts receivable and payable, credit policy, and cash collections and disbursements. Accomplishments included:
Led company through due diligence process related to the Flowserve Corporation acquisition. Reduced aged accounts receivable balance by $1.3 million. Preparation of annual budget and monthly forecasts. Coordinated year-end external audit process.
Division Operations Controller, November 1997 - April 2001 Responsible for all manufacturing financial issues including inventory, product costs, overhead spending, manufacturing variances, and other gross margin impacts. Accomplishments included:
Preparation of annual operating plan and quarterly forecasts. Presentation of financial results to senior management at quarterly operations reviews. Developed monthly inventory and manufacturing variance reporting package. Coordination of quarterly excess and obsolete inventory process. Served as physical inventory coordinator.
Corporate Controller, May 1996 - November 1997 Served as Corporate Controller for this $80 million privately-held manufacturing and distribution company with three manufacturing facilities and six distribution warehouses. Responsible for all accounting functions including financial reporting, general ledger, accounts receivable and payable, and cost accounting. Accomplishments included:
Worked directly with Chief Financial Officer, outside attorneys and audit firms to develop bankruptcy reorganization plan that led to sale and restructuring of the company. Developed and prepared weekly profit and loss summary by location. Prepared debt covenant compliance and borrowing base certificates. Reduced monthly general ledger close process from an average of ten days to four days.
Plant Controller, June 1994 - May 1996 Joined the company as Corporate Accounting and Consolidations Manager and was then promoted to Plant Controller. Responsible for general and cost accounting, financial reporting, planning, budgeting and analysis.
Senior Associate Financial Analyst, June 1991 - June 1994 Served as financial analyst for IBMs Personal Computer Company. Responsible for tracking, analyzing and presenting monthly overhead spending, developing manufacturing overhead rates, and business case preparation and presentation.
Staff Accountant, June 1988 - May 1990 Planned and performed audit engagements of companies in the manufacturing and banking industries plus universities and non-profit organizations. Obtained Certified Public Accountant designation in 1990, currently inactive.
EDUCATION
University of Notre Dame Graduate School of Business, Notre Dame, IN Master of Business Administration in Finance, with high honors, May 1991
Western Kentucky University, Bowling Green, KY Bachelor of Science in Accounting, magna cum laude, May 1988 |