Financial Accomplishments

Cash Management Planning
·        As a consultant to a large mortgage banking firm (RFC – GMAC) with $75 billion in mortgage bank servicing, developed a complex model for strengthening the ware­house line of credit cash flow system within the newly established treasury department, which could potentially save the company up to $450,000 annually in bank fees.  Also analyzed the main operating account for cost efficiency.  Developed numerous monthly analyses of investments and borrowings, as well as other operating functions to test trends through charts and graphs for the treasury department’s internal reporting purposes.

·        As a consultant, developed a cash management system/model for the nation’s 4th largest sugar co-op (United Sugars), whose primary product is Crystal sugar, with the primary customers Pillsbury and Nestle.  The model was used to predict cash balances on both a weekly and monthly basis.  The model predicted cash flow balances each week with less than a 5 percent variance, as well as provide graphing for actual and historical data.  In addition, developed the necessary procedures so it could be used on a daily basis by an accounting technician.

·        Developed a cash management system for the State of Alaska, Department of Labor and presented the new program to Region 10, of the Federal Government in an effort to reactivate the $200 million Letter of Credit program, which was accomplished.

·        As a consultant, acted as Treasurer for Stuart Entertainment, Inc., an international manufacturing company within the gaming industry, which was in a turn-around situation (Chapter 11, Bankruptcy).  The company was going through multiple changes, including a name change and a relocation of its headquarters to Minneapolis, Minnesota from Council Bluffs, Iowa.  My contract role was to act as the company’s treasurer, and to coordinate the company’s move of the international treasury management function to Minneapolis, and consult with them on all aspects of debt restructuring, daily international cash management, cash forecasting, reporting, and modeling.  Helped bring the company out of bankruptcy by giving the banks the confidence they needed to refinance the company.

 
Budgeting and Planning
·        Consulted with Well Fargo Bank, a large commercial bank located in Minneapolis, Minnesota, to coordinate the consolidation of the two budgets as a result of an acquisition by Norwest Bank.  

·        As a consultant to West Group, Inc (currently Thomson Reuters), developed the royalty budget and coordinated  this with the company-wide budget group.
 
·        As a consultant, developed a budget model template for KEOMED, Inc., a medical manufacturing and distribution company.

·        As a consultant to Cargill, Inc., a large, multinational agricultural company, developed an internal budgeting system for the corporate IT department.  This included 250+ employees, 100 contractors and 55 responsibility centers which rolled into 12 major units totaling $70 million in annual revenue.  Developed a complex system of linking formulas in 3,000+ Excel spreadsheets to add sub-functions to line items of responsibility centers, which rolled up to the major units, and finally to the departmental level.  In addition, prepared the budget detail transfer into Cargill’s company-wide accounting system with each responsibility center manager to ensure the correctness of budget detail.  Also, in cooperation with the central accounting department, coordinated the information for inclusion in the company-wide budget.

·        As a consultant to the Wilder Foundation, a large non-profit foundation established to provide numerous social programs for the underprivileged, prepared the company-wide Indirect Cost Plan, analyzed various federal government programs for accuracy, and rewrote and refined the organization’s budget preparation manual.

·        Developed business plans and capital funding proposals for over 60 residential and commercial real estate development projects in Alaska, Minnesota, Arizona, and Wisconsin totaling over $750 million.

 
Contract Administration
·        As Controller/Treasurer for a large oil servicing company (VECO, Inc.), was responsible for the management of all outside contracts, and joint ventures.  

·        As State Social Security Administrator, managed the State of Alaska portion of the Federal Social Security contract which included approximately 60 communities throughout the State.  

·        As Finance Officer (CFO) for the Department of Labor, State of Alaska, was responsible for the management of all outside contracts including the State Unemployment Insurance program, and the Worker’s Compensation program.
 
·        As  Accounting Supervisor (Controller) for the Department of Public Safety, State of Alaska, was responsible for all outside contracts and federal grants including $12 million for the construction of a large ship to patrol the Bering Straits in the Arctic Ocean.  In addition,  managed a $9 million grant for funding the Alaskan Eskimo Village Police program.

 
Facilities Management
·        As Controller/Treasurer for VECO, Inc., a large Alaskan oil servicing company, was responsible for the capital budgeting and management of all company facilities throughout Alaska including off shore drilling and Prudhoe Bay.  

·        As Finance Officer (CFO) for the Department of Labor, State of Alaska, was responsible for the capital budgeting and management of all facilities owned or leased by the Department of Labor.

·        As Vice President and CFO for Fullerton Financial Bank, was responsible for the capital budgeting and management of all bank facilities.

 

Financial Modeling
·        Developed a comprehensive financial projection model for Northern Tool and Equipment's  Chinese manufacturing operation as well as their US manufacturing operation.  This included all standard financial reports; Income Statements (annual and monthly), Balance Sheet, Revenue, Cost of Goods Sold, Cash Flow (annual and monthly), Taxes, Company Valuation (venture capital analysis), Working Capital, and Breakeven Analysis.  

·        As a consultant to Metris Companies, Inc. (Master Card), designed and implemented a marketing campaign tracking and financial analysis reporting system.  The system tracked each marketing campaign throughout six waves of activity, throughout the entire life cycle of the campaign. This included all mailing, re-mailing, outbound and inbound telemarketing, and each expense line item category. In addition, each campaign had a forecast budget for the life cycle of the campaign, along with actual expenses, and a variance from forecast, as well as unit cost analysis.  Each forecast was updated each month for changes, leaving a monthly historical record.  There was a significant amount of analysis and all of this had to be rolled-up into a variety of monthly comparative analyses creating 3,000+ Excel spreadsheets.

·        As a consultant to Ridgeview Medical Center (Hospital and Clinics), developed a multi-clinic revenue model to analyze all the revenue and expenses generated by each physician to determine the profitability levels of each physician within each clinic.

 
Forensic Audits
·        As a consultant, worked on the national Buca Di Beppo’s restaurant chain SEC forensic audit, disclosing significant discrepancies resulting in indictments.

·        As Assistant Controller/Investment and Securities officer for Alaska State bank, participated on a FHA/VA forensic audit that discovered embezzlement resulting in an employee conviction.


Human Resources
·        As Assistant Controller/Investment and Securities Officer managed the Human Resource Department for Alaska State Bank.  

·        As Finance Officer (CFO) managed the Human Resource Department for the Department of Labor, State of Alaska.  

·        As Controller/Treasurer  managed  the Human Resource Department for VECO Inc., a large Alaskan Oil Servicing Company.  

·        As Vice President of Finance and CFO managed the Human Resource Department for Fullerton Financial Bank.

 
Lines of Credit

·        As Vice President of Finance and CFO of Fullerton Financial Bank, negotiated a $30 million mortgage warehouse line of credit with 1st Bank, a large national bank.  This line of credit supported the loan process and subsequent selling of the packaged loans into the secondary market.  This loan was essential to the functionality and success of the Mortgage Bank.

 

·        As Controller/Treasurer/Director for VECO, Inc., a worldwide oil servicing company, developed a $60 million line of credit to finance all activity and provide the necessary weekly cash flow analysis that built large oil field-related buildings, and oil drilling rigs for lease-back to other oil companies (such as Sohio, Texaco, Arco, Exxon, and Standard Oil of California, as well as limited partnerships).  My responsibility was to develop policies and procedures on all treasury functions and prepare cost projections and revenue forecasts on every project.  In addition, VECO was involved in a number of limited partnerships and joint ventures which required monthly profitability analyses.  As treasurer, it was my responsibility to develop the $60 million line of credit, requiring the participation of five banks.  These included our lead bank, two correspondent banks, and a fourth bank solicited from a group of large banks.  These four made up $55 million of the $60 million needed.  The fifth bank was entirely solicited by me as all other banks contacted had declined involvement.  The corporate director (secretary) of Manufacturer’s Hanover Trust in New York was contacted and convinced of the benefit of their involvement in this venture, with the agreement established over dinner.


Investments
·        State and National Securities License (series 6, 63)
 
·        As a Business Financial Consultant marketed to 200-300 businesses per year.  Awarded the #2 position for sales volume nation-wide, while at American Express out of 2,500 financial advisors.
 
·        As Vice President of Finance and CFO of Fullerton Financial Bank, an $800 million mortgage bank, was responsible for all accounting, and treasury related functions of the bank, including the company’s investment portfolio and management of the warehouse line of credit ($30 million).  In addition, bought and sold mortgage pools within the secondary market.

·        As Assistant Controller/Investments and Securities Officer for Alaska State Bank in Anchorage Alaska, managed the bank’s investment portfolio consisting of $75 million.  In addition, developed policies and procedures on all treasury related functions.  The bank had a strong group of eastern U.S. investment banks that were dealt with each day.  Also prepared public bids on the City of Anchorage property tax funds and won 70-80 percent of the funds available ($5–30 million) each calendar quarter for two years in a row.  In addition, prepared all external reports which included SEC reporting (10Q and 10K reports).

·        Consulted with the Treasury Department of a large insurance and financial services company (ING) with assets of $520 billion.  My responsibility was to develop policy and procedures for the reinsurance business for the UK, Netherlands, Denmark, México, and the Americas.  In addition, developed on a monthly basis a model for analyzing the company’s foreign currency position and prepared the foreign currency hedge for approximately 80 different currencies world-wide.  My recommendation went right to the trading desk.

·        Participated in an investment group that invested in stock options Puts and Calls in a variety of investment strategies on the Chicago Board Options Exchange.  In addition, preformed the necessary analysis to forecast the outcome as well as the actual profitability.
 

Media and Civic
·        Telephone interview, October 2007 by CBS News for the Katie Couric Show.  Interview was conducted for my opinion on the global effects of the Sub-Prime Mortgage problem, as well as the current political scene.  

·        Television interview, July 2007 by NBC News (Channel 13) for an Emergency Preparedness Program for Menomonie, Wisconsin.


·        In person interview with the Wall Street Journal, July 1982 for a large oil production joint venture in Prudhoe Bay, Alaska.

 

·        Gave financial testimony to the Legislative Budget and Audit Committee, on behalf of the Department of Labor, State of Alaska.

·        Presented a cash flow plan to the General Accounting Office (Region 10) of the Federal Government on behalf of the State of Alaska for the Unemployment Insurance program.  The plan was approved and implemented.  

·        Served in numerous church leadership positions, giving talks and presentations to large church groups.

·        Served as Unit Commissioner for the Boy Scouts of America, serving on the religion committee for the Indianhead Council, St. Paul, Minnesota.


Treasury Other
·        As a consultant to Metris Companies, Inc. designed and implemented a complex marketing campaign tracking and financial analysis reporting system.  The system tracked each marketing campaign throughout six waves of activity, through the entire life cycle of the campaign. This includes all mailing, re-mailing, outbound and inbound telemarketing, and each expense line item category. In addition, each campaign had a forecast budget for the life cycle of the campaign, along with actual expenses, and a variance from forecast, as well as unit cost analysis.  Each forecast was updated each month for changes, leaving a monthly historical record.  There was a significant amount of analysis and all of this had to be rolled – up into a variety of comparative analyses creating 3,000+ Excel worksheets.  

·        As a consultant to Alexander and Alexander, a large public liability insurance company, prepared one of their subsidiary companies (Paul Burk & Associates) for sale.  The company was also an insurer of large associations, such as the US Army, Veterans’ Association, college and university students, hospitals and clinic employees, etc.  In the course of this business, they had approximately 30 joint venture agreements.  Because these were insurance contracts, the revenue sharing aspects were very complex with many schedules and formulas to allocate revenues.  Also prepared month-end closes and a variety of complex reconciliations associated with clearing accounts between the subsidiary company and Alexander and Alexander.  Finally, prepared accounts for all operational activity at fiscal year-end, just prior to the sale.

 

·        As a consultant to Ridgeview Medical Center, developed a complex multi-clinic revenue model, to analyze all the revenue and expenses generated by each physician to determine the profitability levels of each physician within each clinic.

 


Risk Management
·        As a consultant to ResCap, a GMAC company, was a member of a Model Validation Risk Management team that audited all of the financial models throughout all of GMAC’s global financial system, which consisted of the UK, Netherlands, Canada and America.  The purpose was to insure compliance in both Change Management policies and Sarbanes-Oxley compliance.

 
Sarbanes Oxley

·        Served as Project Manager for a Sarbanes Oxley Desk Top Procedure project at GMAC/RFC.  The Project covered all of the Residential Capital Group Finance Department, which included Loan Accounting, Mark to Market, Asset Management, and Accounts Receivables.

 

·        Served on a Sarbanes Oxley team at Mesaba Aviation where we were involved in all aspects of the Review/Assessment in conjunction with Deloitte & Touche.

 

Turnaround
·        I have a Master Certification in Executive Coaching through the Behavioral Coaching Institute, headquartered in the United Kingdom.  

·        As a consultant, acted as Treasurer for Stuart Entertainment, Inc., an international manufacturing company within the gaming industry, which was in a turn-around situation (Chapter 11, Bankruptcy).  The company was going through multiple changes, including a name change and a relocation of its headquarters to Minneapolis, Minnesota from Council Bluffs, Iowa.  My contract role was to act as the company’s treasurer, and to coordinate the company’s move of the international treasury management function to Minneapolis, and consult with them on all aspects of debt restructuring, daily international cash management, cash forecasting, reporting, and modeling.  Helped bring the company out of bankruptcy by giving the banks the confidence they needed to refinance the company.

 

·        As president of Winco, Inc., a global industrial generator manufacturing company in a turn-around situation, not from serious financial exceptions but from lack of sales.  In two months time, increased sales over the previous year by 20 percent. This was accomplished by increasing the global marketing process, which resulted in bringing in a group from México and United Arab Emirates, as well as encouraging more of the manufacturing representatives to invest in more generators.

 

·        As State Social Security Administrator, was hired to manage the State of Alaska’s Social Security program which was in a 55 percent delinquent revenue position.  Was able to improve the revenue position to less then a 5 percent delinquency in twelve months.  This was accomplished by engaging the Alaska State Troopers who already traveled to the outlying communities to assist me.

 

·        As Accounting Supervisor (Controller) for the Department of Public Safety, State of Alaska,  was brought in to correct a serious financial condition as the Department was considered un-auditable by the State and Legislative auditors.  Through proper leadership and organization skills, was able to correct all of the Department’s financial discrepancies in less then eighteen months.

·        As Finance Officer (CFO) for the Department of Labor, State of Alaska, was brought in by the State Legislative Auditor to correct a serious financial condition of malfeasance and misappropriation of funds.  Five audit teams had recently completed the audit and had compiled a large report with numerous exceptions.  The Legislative Budget and Audit Committee felt it would take five years to correct these exceptions, and gave me their full support.  Through proper leadership and organizational skills, all the audit exceptions were corrected within twelve months.


Other
·        As a consultant to the Residual Interest Finance group (GMAC) for various projects including backfilling to the Primary Servicing area and the writing of Desk Top Procedures in all areas throughout the RIF group.


Awards

·        As a Business Financial Consultant at American Express Financial Advisors, marketed to 200-300 businesses per year.  Was awarded the No. 2 position for sales volume nation-wide, out of 2,500 financial advisors.

 

·        Received “Mercury Award” for sales achievements at American Express Financial Advisors.

 

·        As president/CEO of Park Grove Development Corporation, a town home developer,  won the “Reggi” award for the best town home of its kind in St. Paul, Minnesota.