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Work experience

Aug 2009Present

CFO/Senior Practice Leader

CPS HR Consulting

Senior Practice Leader September 2012 - Present

Responsible for the firm's Federal consulting practice based in the Washington DC area, including executive oversight, contract management, and client relations.

Chief Financial Officer August 2009 - September 2012

Responsible for the overall accounting,contract compliance, and information technology of the company, including month-end close, federal cost accounting compliance, investment reporting and regulatory and risk compliance.

Apr 2005Aug 2009

President/Founder

Olira Inc

Responsible for all operations, marketing, and investments, including two privately held operating companies. Other investments include commodities, limited partnerships, public equities, and fixed income securities.

  • Negotiated and closed acquisition of boutique retail operation
  • Doubled sales and profits in 12 months through revised marketing and operations
  • Start-up of separate retail operation, profitable from start, achieved widespread media attention and recognition
Nov 1998Mar 2005

Chief Financial Officer

Principal Global Investors
  • Managed the overall accounting and finance functions of the company, including SEC and financial reporting, investment accounting and regulatory and risk compliance.
  •  Developed firm’s internal financial reporting, budgeting, treasury and compliance function in conjunction with formation of company in January 1999.
  • Managed multifunctional staff of over 100. Matrix reporting structure included financial and accounting staff in Europe, Australia, and Asia.
  • Served as Board Member of wholly and majority-owned domestic and international investment and operating subsidiaries, conducting operational and performance reviews.
  •  Reviewed audit findings, consulted with management and facilitated liaison with regulators.
  • Responsible for P&L of operating/capital budgets in excess of $400 million. Developed reporting and control systems reducing report turnaround time.
  • Responsible for preparation/presentation of financial/operating results to CEO and Chairman of parent company.
  • Successfully executed M&A transactions varying in size from $15 million to $150 million, divestiture of foreign subsidiary at $500 million. Responsible for acquisition analysis, due diligence, negotiation, and integration efforts.
  • Developed "liftout" structure that enhanced profitability and provided appropriate incentives to liftout partners.
  • Managed multifunctional staff of over 100. Matrix reporting structure included financial and accounting staff in Europe, Australia, and Asia.
  • Responsible for completion of annual statutory reporting filing for the parent insurance company with Iowa Insurance Commission, including Schedule D and reconciliation to GAAP. Statutory insurance company assets totaled in excess of $110 billion.
  • Served as Board Member of wholly and majority-owned domestic and international investment and operating subsidiaries, conducting operational and performance reviews.
  • Responsible for implementation of new securities accounting system, bond analytics system, and real estate accounting systems. Modules included risk management and control for counterparty and position size.
  • Responsible for SEC reporting, both periodic and registration, implemented Sarbanes-Oxley reporting system.
  • Responsible for Registered Investment Advisor compliance, including interface with mutual fund companies, private investment funds, and other third party clients. Prepared initial and periodic ADV filings for 6 RIA's.
  • Developed new incentive compensation and bonus structures, to include sales and investment staff.
  • Led strategic planning efforts utilizing Balanced Scorecard Methodology.
Apr 1997Nov 1998

Consultant

DeMarche Associates
  • Responsible for investment consulting assignments to clients with assets ranging from $20 million to $750 million.
  • Found over $90,000 in savings for a prospective client through review of master custodian invoices.
  • Performed over 36 investment manager performance review and searches.
  • Regularly dealt with client board members and trustees of retirement plans regarding investment performance, investment trends, and asset allocation.
  • Directed firm’s Information Technology department. Migrated technology platform from mid-frame IBM to client-server environment. Developed extensive reporting packages to take advantage of new system capabilities. Reduced reporting turnaround times.
  • Served as Asset Director for Real Estate, responsibilities included meeting with Real Estate managers and preparing profiles of industry trends.
19891997

Vice President

Boatmen's Trust
  • Responsible for all internal financial functions of pension & institutional division producing over $68 million in annual revenue. Managed staff of 20.
  • Responsible for investment performance reporting, including master trust reporting for 3rd party managers.
  • Activities included operational and financial review, budgeting, acquisition analysis and integration, and incentive compensation planning and administration. Prepared periodic reports for Chairman as well as quarterly Strategic Planning Reviews.
  • Implemented cost accounting procedures to provide better understanding of operational efficiency.
  • Responsible for overall operation of pension and institutional operation in Albuquerque, NM office with over $750 million in assets and generating $1.2 million dollars in annual revenue.
  • Activities included supervising staff of five professional employees and four support personnel, establishing client service standards, implementing corporate policy, and developing relationships with key client contacts.
  • Implemented reorganization of office workflow, resulting in significant efficiency gains.
  • Responsible for administration and operation of 70 trust relationships totaling over $130 million in assets and generating $400,000 in annual revenues. Gained significant referral business from existing client base, resulting in over $50,000 in additional annual revenues for the firm..

Education

19881990

MS Acc

University of Missouri - St. Louis
19801984

BSBA

University of Missouri-Columbia

Resume

Certifications

Certified Public Accountant (CPA)

AICPA

Certified Employee Benefit Specialist

ISCEBS

Chartered Financial Analyst

CFA Institute

Recommendations

Tim Howald has done an exceptional job as the Chief Financial Officer for CPS Human Resource Services during my tenure with the company. He has helped to position our company for sustainability and growth, despite the down economy, in just one year. He clearly sees the whole, is quick to learn all pertinent aspects of the business, and works to align resources with company goals. He is adept at all aspects of financial management, is astute in financial analytics and can communicate complex financial information effectively at all levels of the organization. Tim has a keen intellect, is a self-starter, and is driven to succeed in whatever he sets his mind to. He is highly motivated, well organized, and self-sufficient. In addition he is good manager of people and develops strong collegial relationships through his positive attitude, high energy, and honest and forthright, nature. It is without hesitation that I recommend Tim for any Executive role that he feels capable of taking on.

Rachel Boechler -District Administrator at Fox Point Bayside School District

“Tim was able to develop a new professional level to our financial reporting. He was a well-rounded coworker who not only excelled in his area of financial operations of the business, he also was very knowledgeable of the investment process and how it worked. As an investment professional, it was impressive to work with someone who really understood the business and could manage it accordingly.

Catherine Zaharis, CFA, Portfolio Manager, Principal Global Investorsworked directly with Tim at Principal Global Investors

“In working with him, I came to know Tim as a savvy financial executive. He has a very solid understanding of capital structures, statements and transactions and how they should optimally work together. He has a great sense of risk assessment and importantly a capacity to communicate it appropriately to a variety of constituencies. In my experiences with him, he demonstrated an efficient and disciplined decision making style. I’ve enjoyed knowing and working with him very much.” February 10, 2009

George (Jay) Vogt, Assistant Director, Business Solutions, Principal Global Investorsworked with Tim at Principal Global Investors

“Tim was an empowering leader who was able to command results through his management style. Tim drives change and sets challenging goals while promoting balance.”

Cherie Huffman, Assistant Director - Global Investment Operations, Principal Global Investors, LLCworked indirectly for Tim at Principal Global Investors

VP Boatmen's Trust

“Tim and I worked together for a number of years at Boatmen’s Trust Company. Tim is a strong results-oriented manager, possessing a resilient attitude, unrelenting resourcefulness, and the willingness to always do whatever is necessary to get a job done. He has been very flexible during his career in taking on new and expanded responsibilities and has consistently met every challenge. Tim would be a valuable member of any team he joins.” 

Lyle Brizendine, Executive Vice President, Boatmen's Trust Companymanaged Tim at Boatmen's Trust

“Tim is a true professional with a knack for seeing the big picture while keeping track of the details. His skills as a financial analyst were instrumental in driving bottom line results for our division. As manager, I relied heavily on Tim for the financial information needed to do my job and he always delivered.”

Michael Howard, Vice President, Boatmen's Trust Company worked with Tim at Boatmen's Trust

“During the time Tim and I worked together at Boatmen's Trust, I valued both his professional and interpersonal skills, particularly in the area of financial analysis. Tim has a wonderful ability to cut through the noise to the heart of the financial question, and to do this with wit and good humor that made difficult choices clearer and easier to make.” 

Cathy Smith, Manager of Product Planning, Boatmen's Trust Company/Centerre Trust Companyworked directly with Tim at Boatmen's Trust

Summary

SENIOR FINANCIAL SERVICES EXECUTIVE

Senior Financial Services Executive with extensive experience in organizational and financial structuring, treasury, cash flow forecasting, asset and liability management, financial statement preparation and analysis, corporate governance, compliance management, systems implementation, project management, investment banking, and relationship management.  Broad experience in assessing financial and operational risks and implementing systems and reporting to manage and control all manner of risk exposure. 

EXPERTISE

  • Asset/Liability Management
  • SEC Reporting and Compliance
  • Financial Statement Analysis
  • Risk Management and Control
  • Investment Analysis
  • Trend and Sensitivity Analysis
  • Capital Budgeting and Planning
  • Strategic Planning
  • Management & Supervision
  • Organizational Structure
  • Treasury and Cash Flow
  • Leadership Skills