Project Clients & Past Employers
- Walgreens Boots Alliance ($130B global retail pharmacy, health, and wellbeing enterprise)
- SBC Communications, currently AT&T ($50B telecommunications service provider)
- United Stationers, currently Essendant ($5B wholesale distributor of workplace essentials)
- Tribune Media Company ($2B diversified media and entertainment business)
- Coopers & Lybrand, currently PwC (Clients Included: Solo Cup, A.E. Staley, Appleton Papers, Envirodyne Industries, Mesirow Financial, Illinois Department of Employment Security)
Functional Finance & Accounting Experience
Financial Reporting & General Accounting
- Hands-on and supervisory experience for large public companies including monthly close, corporate cost allocations, and management reporting.
- Led and developed finance and accounting teams at the business unit and corporate levels.
- Led monthly close process for consolidated entity. Trained staff of 18 to create efficiencies and assume new responsibilities.
- Led monthly, quarterly, and annual accounting close meetings and calls with management and staff to discuss preliminary financial results, accounting treatment of unique transactions, and variances from plan and prior year under US GAAP.
- Maintained a process for monitoring actual performance on a monthly basis against budget, prior year, and forecast. Used by executive management for strategic decisions.
- Developed executive reporting package with monthly variance analysis explanations provided to the Global Controller for review and use as support in quarterly earnings’ investor calls.
- Enhanced timeliness and quality of reporting cycle by establishing monthly “flash reporting” process and reengineering monthly close meeting process.
- Contributed to cutover testing of general ledger balances to SAP including reconciliation of intercompany balances and establishment of consolidation and reporting processes.
- Preparation of monthly financial statements (income statement, balance sheet, and cash flows) and financial reports at subsidiary and consolidated company levels.
- Developed internal reporting and 10-Q footnote disclosure templates to drive improvements in monthly and quarterly processes.
- Rationalized accounting and finance department during economic downturn with no reduction in output and increased efficiencies.
- Prepared and reviewed balance sheet account reconciliations.
- Served as the principal liaison with external auditors. Coordinated and supervised quarterly and year-end audit schedule preparation and completion. Managed and resolved external audit exception reporting.
- Acted as accounting lead on the project to change legal entity structure, reorganized intercompany receivable / payable accounting, and earned annual strategy award for team efforts. The project generated $2M and ongoing tax savings.
- Developed consolidated monthly key financial report that was the basis for quarterly financial results presented to Board.
- Created key financial reporting package for telecommunication company’s Midwest region business unit including income statement results for business, consumer, and network divisions. Prepared key metrics to be communicated in this monthly reporting package and shared monthly with business unit president and CFO.
Technical Accounting & External Reporting
- Prepared SEC 10-Q and 10-K filings including all financial statements, footnotes, and Management Discussion and Analysis.
- Assisted VP Controller in leading discussion with internal Disclosure Committee and the Board’s Audit Committee on review of quarterly results, earnings releases, and SEC filings.
- Collaborated with senior finance leaders to prepare earnings releases, call scripts, and responses to investor questions.
- Ensured compliance with SEC’s new XBRL standards by examining financial statements and defining tags with assistance of third-party provider.
- Streamlined quarterly earnings release, earnings call, and SEC filing process to move company’s timing up several days.
- Provided enhanced footnote and MD&A disclosure as well as support for investor presentations.
- Created CEO senior leadership deck and multiple board presentations.
- Established, documented, and communicated accounting policy regarding several technical areas including derivative transactions (ASC 815 Derivatives and Hedging), stock based compensation (ASC 718 Compensation – Stock Compensation), asset backed securitization (ASC 860 Transfers and Servicing) and revenue recognition (ASC 605 Revenue Recognition).
- Prepared adjusted closing Balance Sheet of newly acquired entities, including identification of working capital adjustments, coordination with third party valuation firm, and preparation of information used by Tax Department. Responsible for research and compliance with ASC 805 Business Combinations.
- Strengthened bottom-line by proactively assessing financial statement impact of purchase accounting for newly acquired entity. Partnered with a third-party service provider to determine the fair value of assets acquired and the value of goodwill and intangible assets during impairment testing following guidance of ASC 350 Intangibles – Goodwill and Other.
- Led all goodwill and intangible asset impairment testing of $4B of goodwill and $800M of intangible assets which led to impairment charge of $385M (mainly goodwill). Acted as main liaison with 3rd party valuation firms and external auditors in preparing valuation analyses for impairment testing and documented and tested all aspects of the models including a detailed review of final 3rd party valuation reports.
- Prepared and reviewed accounting memorandum on various accounting topics including goodwill and intangible asset impairment testing, reporting unit determination, operating segments, derivative instruments, asset backed securitization, stock based compensation, accounting for broadcasting rights, and accounting for real estate joint ventures.
- Established and executed testing plan within the Cognos Controller consolidation tool for new joint venture to ensure that goodwill and non-controlling interest were properly accounted for and reflected in the financial statements.
- Minimized interest rate risk by designing and implementing derivative financial instruments accounting policy including initial documentation shared with external auditors and periodic accounting and disclosure of such transactions in accordance with ASC 815 Derivatives and Hedging.
- Enhanced profitability by evaluating and implementing accounting for new asset backed securitization in accordance with ASC 860 Transfers and Servicing and derivative financial instrument transactions in accordance with ASC 815 Derivatives and Hedging.
- Led stock compensation accounting research for new performance-based grants following the guidance in ASC 718 Compensation – Stock Compensation.
Financial Planning & Analysis
- Hands-on and supervisory experience preparing annual operating plans, budgets, and forecasts for multiple companies’ top-down and bottom-up budgeting methods.
- Directed team responsible for management reporting, forecasting, budgeting, and analysis of $5B office products and janitorial/breakroom business unit with a staff of six.
- Managed planning, reporting, and consolidation of balance sheet, income statement, capital, cash flows, and headcount for company’s largest business unit covering office products and janitorial, breakroom, and foodservice products.
- Managed same processes for Shared Services operating expense budget of $100M. Oversaw monthly consolidated forecasting and annual budgeting processes including Hyperion Essbase administration and structure.
- Led department of six (managers and analysts) to build annual budgets and monthly forecasts. Presented forecast targets, assumptions, and budget performance analyses to executives. Mentored staff on their financial modeling and executive presentation skills.
- Consolidated monthly forecasting process and directed analysis of monthly results versus budget, prior year, and forecast including review of sales, margins, working capital, and cash flow components.
- Effectively led cross-functional teams in management reporting, budgeting, and forecasting.
- Developed budget and forecast models for Merchandising Operations and Inventory Accounting.
- Generated +$5M incremental annual supplier allowances as a result of cross-functional collaboration and effective business modeling. Established tools and reports that enabled decisions impacting financial statements including sales, margins, working capital, and cash flow.
- Achieved $3M in favorable quarterly purchase price variance by identifying root cause of shortfall, improving forecasting processes, and recommending alternative courses of action.
- Managed execution of long range planning and budgeting processes that combined forecasts submitted by various business units.
- Presented consolidated results and forecasts to senior leadership and the Board.
- Achieved Board approval supporting $20M spend on business transformation project combining two largest BUs. Evaluated and prepared financial model and key components of presentation.
- Designed and maintained process for monitoring monthly actual performance against budget and forecast used by executive management for strategic decisions.
- Delivered consistency across BUs with enhanced forecast accuracy and timeliness by continuously improving consolidated forecasting process.
- Revamped corporate budget and forecast process resulting in shorter, more efficient planning cycle.
- Provided analyses of financial performance, balance sheet, cash flows, product lines, customer segment, and key ratios.
- Actively trained and mentored business unit and corporate department personnel on understanding and communicating, both verbally and written, variances from plan and forecast to senior management at both the P&L line level and at multiple reporting levels such as business unit and consolidated.
- Updated senior management on trends impacting current and future results for decision-makers to decide on changes in strategies.
- Created consolidated budget and re-forecasted financial statements in Excel which consolidated various business units and legal entities linking directly to detailed budget and forecast models.
- Served as key financial partner for VP of business sales team at telecommunications company, working closely with and offering interpretation of financial results.
- Built sales targets that rolled up to consolidated business unit budgets for telecommunication company’s Midwest region’s business unit.
- Developed annual plan and monthly forecasts for revenue, expense, and headcount communicated with Corporate Finance and BU leadership.
- Extensive experience building, improving, and refining dozens of budget, forecast, planning, analytical, valuation, and other types of financial models in various companies.
- Familiar with various financial models and analytical tools including DCF, NPV, trend analysis, ratio analysis, sensitivity analysis, and scenarios modeling.
- Developed multi-year forecast models for long range plan and targeted acquisitions. The models forecasted post-acquisition Income Statement, Cash Flow Statement, and Balance Sheet. It allowed for sensitivity analysis to changes in assumptions. Model results were shared with senior leadership as needed.
- Enhanced existing reporting and analysis models that provided channel and category level detail on sales and margins including rate/volume analysis.
- Built sensitivity models to be used to assess reasonableness of key inputs in the goodwill and intangible asset valuation models.
- Analyzed market revenue trends to ensure reasonableness and used such revenues as appropriate in valuation of FCC licenses for 42 local television stations.
M&A Analysis, Post Acquisition Finance & Accounting Integration
- Completed purchase accounting related opening balance sheets and pro-forma financials.
- Worked directly with tax and financial accountants on goodwill, intangible asset, and fixed asset valuations for newly acquired entities.
- Led integration of subsidiary general ledgers into consolidated company’s general ledger system by creating chart of accounts and processes to interface the ledgers on a monthly basis.
Financial Audit, Internal Controls & SARBANES OXLEY COMPLIANCE
- Prepared risk analyses and assessments on company-wide processes including Procurement and Mergers & Acquisitions. Reviewed business cases for key projects and provided recommendations to the Board.
- Increased ROI by developing new Economic Evaluation Policy, related procedures, forms, and templates.
- Reduced risk and added value through audit of export operations and M&A processes. Partnered cross-functionally with Transportation and Legal to assess and address risks and opportunities.
- Established and documented various processes and procedures including; Economic Evaluation Policy and Procedures to create consistent approach to business case analysis across the company, Derivative Transactions Accounting Policy, Accounting for performance based long term stock compensation program, Revenue Recognition policy particularly related to newly acquired software and services company.
Project Management & Business Process Re-Engineering
- Led Consolidations team through system conversion from Oracle HFM to Cognos Controller including data validation, user acceptance, parallel, and cutover testing and controls.
- Oversaw project management efforts for Accounting, Consolidations, and Reporting teams with respect to communications, calendars, training, and resource planning.
- Built system and process enhancements to streamline overall close and consolidations timing including updating intercompany elimination entries, enhancing chart of accounts structure to handle external and adjusted management reporting, and streamlining the intercompany accounting and reconciliation process.
- Provided project management, build, and testing support for overhaul of company’s consolidated chart of accounts including SEC reporting and management reporting components to facilitate enhanced close and reporting and analysis.
- Led project to rollout Economic Evaluation Policy and Procedures with upfront buy-in from senior leaders throughout the business.
- Led project to implement new stock compensation tracking tool with cross functional support from HR, Legal, Tax, Accounting, and Treasury. Improved forecast accuracy and productivity, reduced risk related to old system, and saved time and money by implementing a new stock compensation system that accounted for and administered stock compensation plans.
- Managed calendar and task list for monthly forecasting, annual budget, strategic planning, and quarterly external reporting processes. Coordinated within and across various functions.
- Implemented a closing schedule, which set timely guidelines for month-end reporting, reducing closing process from eight to four business days by implementing SAP general ledger module and introducing additional process improvements.
- Managed external auditor relationship and deliverables for quarterly reviews and annual audit.
- Reduced costs +30% by streamlining processes for two BUs and creating efficiencies that allowed for the redeployment of resources while providing improved analysis and insights for business leaders.
Systems Expertise: Selected Detail
- Certified Microsoft Office Specialist – Excel 2010 Expert
- Advanced Level Excel User including financial modeling, heavy database linking, pivot tables, formula creation (IF, IFERROR, V-LOOKUP, PV, NPV, IRR, PRICE, RATE, PMT, SUMIF(S), COUNT, etc.), chart and graph presentation, complex spreadsheet creation, financial statement creation, and financial month-end close.
- Intermediate Level PowerPoint User including creating slide masters, working with templates and layouts, inserting objects, creating graphs and organization charts, working with embedded and/or linked objects, slide transition and animation, and creating and running slide shows.
- SAP G/L experience including creation and maintenance of chart of accounts, profit center and cost center hierarchy, and legal entity structure, posting and approval of journal entries, consolidation accounting and reporting, basic analytical queries and ad hoc reporting, and exporting financial statements to Excel.
- Experience including Hyperion Essbase Add-in for Excel, data loads, queries, and reports.
- Managed finance employees responsible for system administration.
- Led discussion on evaluation of database structure for business units and other reporting needs.
- Oracle E-Business Suite (EBS) experience in reporting and ad hoc GL Wand queries.
- Report generation, query and review.
Cognos Controller / COGNOS PLANNING ANALYTICS (TM1)
- Basic and ad hoc reporting, Excel retrieves, cash flows, meta-data structure, consolidation and intercompany accounting.
- Proficiency in Microsoft Word, Outlook, and Visio.
Education & Credentials
- Northwestern University, Kellogg School of Management, Evanston, IL
Master of Business Administration with concentrations in Finance and Management & Strategy, Dean’s List
- University of Michigan, Ross School of Business, Ann Arbor, MI
Bachelor of Business Administration, concentration in Accounting, Dean’s List
- Certified Public Accountant, Illinois
American Institute of Certified Public Accountants (AICPA), Member
Illinois CPA Society (ICPAS), Member
Leadership Development Program, United Stationers