WALTER V. CHAPMAN, III

*** ******* *****, *** *******, TX 78260 214-***-**** acqq14@r.postjobfree.com

Areas of Expertise:

Financial Modeling • Working Capital • Treasury • Corporate Finance • Board Interface & Strategic Planning • Variance Analysis • Systems Implementation • Budgeting/P&L Accountability • Lean Six Sigma • Process Improvement • Business Analytics • Merger and Acquisition Integration • Internal Controls • SOX Compliance • IFRS Reporting

PROFESSIONAL EXPERIENCE:

KELLEY BEAN COMPANY, INC. JAN 2015 – JULY 2015

Vice President of Finance, Scottsbluff, NE (going back and forth from San Antonio)

Hired to replace retiring CFO and become member of five person Board of Directors

Identified viable ERP systems to replace exiting outdated accounting and grower packages

Secured $350k line of credit for Universal Fleetcard Mastercard Program to eliminate vendor open accounts at 26 remote plant locations thereby eliminating over 3,000 invoices per year

Identified and began implementation of Prophet CRM cloud based SaaS and Certify automated expense reimbursement system SaaS (works with nightly feed of Fleetcard data)

Worked with NE Pub Power (NPPD) to identify energy project rebates for equipment upgrades

Packaged goods plant time and motion study and costing analysis for $1.4MM line upgrades

Assisted in M&A due diligence and integration of $3.5MM dry bean processing assets from competitor

Worked with plant personnel on transition to a forklift leasing program to save $150k/yr in repair costs

Generated new BOD financial reporting showing variance analysis and cost per CWT

VILORE FOODS COMPANY, INC. 2008 – 2015

Director of Finance and Controller, San Antonio, Texas

De Facto CFO for $220MM Hispanic food distributor

Implemented AMEX Concur approval workflow for T&E spend and authorization - $240k/yr savings

Implemented inventory standard costing to provide better control and PPV variance reporting

Annual external audits completed in three weeks reflecting tightened internal controls

Implemented LIFO inventory method resulting in $1.5MM cash flow and tax savings

Implemented customer/vendor T&C’s and modified discount terms with $1.9MM EBIT annual savings

Amended open year tax returns based on audited statements resulting in over $600k of cash tax refunds

Drove year-over-year available cash from $2MM avg. weekly balance to $26MM avg. weekly balance

Reduced days sales in inventory from 82 to 44 days and DSO from 55 to 24 days

Bid out audit and tax work resulting in improved service and annual cost reduction of $250k per year

Developed financial and BOD reporting packages detailing financial and managerial operating results

Implemented brand and region P&L structure that helped highlight a $3MM margin issue in one brand

Focal point of contact for all legal and risk issues impacting the company

Implemented investment policy for surplus cash and coordinated all banking relationships

CADBURY SCHWEPPES 2007 – 2008

Lean Six Sigma Blackbelt/Southwest Division Controller, Bottling Group, Irving, Texas

Full P&L and Balance Sheet responsibility for seven plant locations with ~$1.4B in annual revenue

Worked as operations blackbelt on recycle, shrink, packing yield and quick changeover projects

Mentored Greenbelts at the Irving plant on 5S and filler yield improvement projects

Implemented proper GAAP compliance for FIFO revaluation and obsolescence reserves

Implemented proper internal controls of processes related to inventory transactions

Implemented best practices in SAP cost accounting, process orders, absorption, etc.

Sarbanes Oxley development and implementation including monthly master control documentation

Monthly plant closings, expense variance analysis and sales/COGS mix/rate/volume analysis

SIEMENS CORPORATION 2005 - 2006

Multi-Plant Business Line Controller, Energy and Automation, Grand Prairie, Texas

Full P&L and Balance Sheet responsibility for five plant locations with ~ $300MM in annual revenue

Integrated new business line into Dallas plant financials

Sarbanes Oxley implementation for all plant operations

Drove productivity tracking and project implementations achieving 10% year over year productivity

Monthly plant closings, variance analysis and profit bridges

SAP Implementation team leader for plant finance

GENERAL ELECTRIC COMPANY 2001 - 2005

Finance Manager, GE Energy/GE Jenbacher, Houston, Texas

Full P&L and Balance Sheet responsibility for $50MM product and service power generation business

Integration of Jenbacher US acquisition into GE financial systems and culture

Realized over $10MM in positive cash flow by reducing past due receivables, extending payment terms and settling subcontractor liens that pre-dated the acquisition (general contractor went bankrupt)

Drove initiative with outside accounting firm to obtain $1.5MM tax refund for NOL carryback

Reconciled physical inventory to GL resulting in $500k surplus for P&L statement

Implemented internal billing system process resulting in $150k annual savings for the business

Reduced administrative overhead costs $50k per annum utilizing established GE contracts

Finance Manager, GE Plastics ABS Plant, Washington, West Virginia

Managed variable and base cost accounting, including month-end closing for $200MM plant

Drove natural gas price deflation via contract negotiation of local gas contract

Member of lean manufacturing team working to reduce cycle times on small lot compounding line

Generated quarterly unit conversion cost by production line report

Approved Six Sigma project savings submitted for review

Developed financial forecast models and performed monthly actual to budget variance reporting

Generated annual operating plan including variable and fixed cost budgets

Participated in weekly indirect cost reviews with plant personnel

Implemented capital labor digitization tool

GREAT LAKES CHEMICAL CORPORATION 2000 - 2001

Plant Controller, Flame Retardant and Stabilizer Plant, Nitro, West Virginia

Managed payroll, accounts payable, variable and period cost accounting, including month-end closing

Integrated GLCC SAP configuration into plant operations from former FMC SAP configuration

Developed financial forecast models and performed monthly actual to budget variance reporting

Generated annual operating plan including capital, variable and fixed cost budgets

Maintained product cost accounting system using master recipes (BOMs and Routings)

Generated monthly cost center assessments and process order settlements

Developed off-line profit center reports and analysis for corporate financial and plant management team

Implemented monthly cost center reviews with plant department heads to monitor and decrease controllable spending

Performed EVA analysis on capital project proposals and compiled Six Sigma project savings

Developed plant energy council to review and minimize energy usage and expenditures

RUSSELL-STANLEY CORPORATION 1999 - 2000

Plant Controller, Plastic Drum Plant, Nitro, West Virginia

Managed ADP payroll and finance function, including month-end closing, at the plant level

Generated financial forecasts and annual plant budgets for Nitro operations

Supervision of customer service and purchasing functions at the local level

Generated weekly/monthly plant production and financial reports

Assisted plant manager with the administration of Teamsters Local 175 Union Contract

Participated in quarterly management reviews and led physical inventory process

UNION CARBIDE CORPORATION 1990 - 1999

Accounts Payable Manager, Financial Service Center, South Charleston, West Virginia

Managed corporate consolidated A/P department operations processing over $3 billion annually

Accountable for $2.5MM A/P department annual budget and department controllable spending

Supervised consolidation of decentralized invoice processing locations in US, Canada and Puerto Rico

Loaned to SAP R/3 project implementing FI/CO and MM modules

Established product cost conversion tables for transactions from legacy to SAP

Project leader for the accounts payable integration of the Shell Oil polypropylene business- ’96 SRA

Developed staff and managed turnover for fifty-six (56) employees and contractors

Streamlined departmental processes and decreased overtime costs by optimizing workload distribution

Developed cash management skills during frequent interaction with corporate Treasury Group

Implemented Chase Bank on-line stop pay/check inquiry system resulting in $29k of annual savings

Collected over $500k in outstanding aged debits resulting in increased cash flow

Domestic Accounting Analyst, Financial Service Center, South Charleston, West Virginia

Monthly closing and financial statement preparation for domestic operations

Maintained general ledgers for four (4) wholly-owned subsidiaries

Prepared multiple notes and charts for the annual report to stockholders

Prepared worldwide investment in partnerships and equity company analysis

Eliminated monthly intercompany profit-in-inventory and prepared inventory fluctuation analysis

Served as tax compliance liaison for corporate tax department - '94 Special Recognition Award (SRA)

Prepared monthly income tax rate reconciliations for General Division and the Corporate Home Office

Prepared monthly S&U tax reconciliation between corporate G/L and purchasing systems

Construction Site Controller, Seadrift Plant, Victoria, Texas

Compliance audited $136MM in contractor/vendor invoices with a net savings to UCC of $1.3MM

Reviewed cost-plus and fixed price contracts and participated in contract negotiations

Prepared annual site overhead, labor, lease, and minor property budgets

Maintained standard cost accounting system and provided management with monthly variance analysis

Administered corporate accounting policies and maintained internal controls for site operations

Provided litigation support on contracts with disputed payment amounts

Served as Seadrift Plant internal audit response coordinator

Served as a member of a capital process re-engineering team

EDUCATION:

M.B.A. – Executive Program, Marshall University (Cumulative GPA: 3.92) 1997

C.P.A. – State of West Virginia; Certificate 3196 1992

B.B.A. – Marshall University (Cumulative GPA: 3.67, Accounting GPA: 3.93), Magna Cum Laude 1990

TMAC George Group Lean Six Sigma Blackbelt Course 2007

GE Six Sigma Green Belt Certification 2002

COMPUTER EXPERIENCE:

SAP hands-on and configuration experience with FI/CO (general ledger, A/P, cost and profit center accounting. process orders) and MM modules (inventory, purchasing, invoice verification)

Oracle financial and OFA reporting systems

Hyperion Enterprise, Business Objects and Crystal Reports

Microsoft Office (Excel, Access, PowerPoint, Word, Visio

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