Private regional wholesale distributor of plumbing products with $206 million in revenue, 475 employees and nine branches across Southern California and Las Vegas.
Acquired May 2004 by Hughes Supply
Chief Financial Officer (2003-2004)
Responsible for all aspects of financial reporting: accounting, budgeting, forecasting, internal controls and internal and external audits. Built and maintained relationships with banks, insurance companies and other internal customers and external vendors.Supervised four direct reports and eighteen indirect reports.
Developed and implemented internal controls, company policy and procedures.
- Negotiated with outside vendors for lines of credit and insurance policies.
- Established and maintained positive working relationship with branch managers and other employees.
- Coordinated with outside CPA firm to generate reviewed annual financial statements.
- Generated Annual Report.
- Oversaw all audits including bank audits, insurance audits and sales tax audits.
- Maintained all financial records.
- Assisted in the entire M&A process including creation and execution of the sales presentation and Due Diligence.
- Streamlined the closing process using existing system tools and decreased closing by three days.
- Group Health Plan Evaluation. Analyzed existing policy for company cost and employee contribution levels, which led to implementation of better cost sharing between employees and company.
- 401(k) Selection Committee. Lead research of 401(k) alternatives and negotiation of new 401(k) plan to increase service levels, decreased company expense and administrative burdens.
- Negotiated Liability Insurance resulting in a 10% savings to the company.
- Designed Branch Review to better educate managers on cost drivers and break-even points.
Controller (1996 - 2003)
Responsible for full cycle GL management including reporting, P&L analysis and balance sheet reconciliations and consolidation for nine branch locations. Supervised three direct and nine indirect reports providing administration functions such as AP, AR, payroll, sales tax, and management of fleet insurance, audits and product liability lawsuits.
- Prepared and analyzed financial statements.
- Managed external audit requests.
- Assisted senior management in developing and refining company policies and procedures.
- Ad hoc reporting for senior management.
- Supervised several administrative functions including corporate accounts payable, reconciliation of general ledger accounts, payroll, sales tax, fleet insurance and product liability lawsuits.
- Worked with in-house and external IT departments to troubleshoot and maintain various branch and payroll systems.
- Compiled data and edited narratives for Annual Report.
- Assisted in redesigning General Ledger and P&L statements for enhanced reporting.
- Initiated strategic review of business.
- Software Implementation Team. Worked with employees and Eclipse Software consultants to implement new software platform and establish new procedures and processes.
- Executive Steering Committee. Worked with software consultants, project managers and other committee members to resolve software and business process issues.
- Streamlined several administration functions by utilizing existing software and implementing new procedures for tasks such as payroll, garnishments, sales tax and 1099 processing resulting in both labor and supply savings.