Richard D. Sherrane

***** ******* ****, ******, ***** 76226

Phone: 410-***-**** (cell)

email: actdeh@r.postjobfree.com

SUMMARY

A financial executive whose background encompasses several industries. A manager and leader who can draw upon the experiences of the past to develop effective strategies for the challenges of today.

EXPERIENCE

Lewis & Lambert, LLLP, Fort Worth, Texas – 2011 to 2015

A manufacturer and mechanical contractor focused on the commercial marketplace

Position: Vice President, Finance

During the course of closing the books in my first year-end, corrected dozens of job cost and payroll control postings to the G/L to improve the accuracy of financial reporting. Reorganized the workflow in my department and increased efficiency. Established timekeeping requirements and created procedures for improving cost control and accountability for crews in the field. Established process of daily bank reconciliations and preparation of monthly cash forecasts. Managed cash disbursements during period of depressed business activity and took lead position on establishment of new banking relationship.

Southside Financial Group, LLC, Arlington, Texas – 2007 to 2010

An automobile finance company specializing in the sub-prime market, founded in 2007

Position: Controller

As the first controller for this company, I organized the accounting department from the fragments that were in place upon my arrival. I instituted a formal monthly accounting cycle and brought the reporting in line with the requirements of the company’s controlling partner. I was successful in increasing the utilization of data from the available loan servicing software and created queries and spreadsheets for report generation. I developed a complex Excel spreadsheet model for use in budget and forecast preparation. Established daily cash balance reconciliation improving ability to pay down credit line.

Royal Glass Company, Inc., Capitol Heights, Maryland – 2001 to 2007

An automotive glass replacement company with shops throughout the Baltimore-Washington area.

Position: Controller

In the post 9/11 business slump, I successfully reduced the finance staff from seven to four with minimal impact on operations support. Converted from DOS based general ledger and payroll to Great Plains (Microsoft Dynamics) improving productivity and reporting capabilities. Created monthly financial statements for all shops, warehouse and headquarters departments enabling monthly manager bonus plan to be based on sales and profits, rather than sales alone. Selected new credit card processing vendor, reducing fees by 20% and increased the utilization of available online banking capabilities. Performed lease/buy analysis on all vehicle and equipment purchases and selected lenders for each purchase and lease transaction.

DesignTech International, Inc., Springfield, Virginia – 1999 to 2001

Manufacturer of electronic and RF equipment for automotive aftermarket and home improvement

Position: Controller

As the first controller for this company, I formalized many policies and procedures and added or modified others. This resulted in improved utilization of ERP system and product costing, reduced bad debt on regular accounts by 30% and improved accounts payable. Negotiated credit facility increase of one million dollars. Reduced annual audit fee by generating monthly financial statements in-house and supervising annual physical inventory. Led project team in completion of EDI project.

Richard D. Sherrane Page Two

Symphony Management Associates, Inc., Annapolis, Maryland – 1992 to 1998

Private equity investment company focused on technology based service businesses

Position: Analyst

Created complex spreadsheets to analyze potential investments on ROI and DCF bases both before taxes and after tax under several organizational criteria. Prepared in-depth business plan analyses exposing flaws in several projects that had passed initial review. Performed interim CFO role at several firms that Company had invested in.

Position: Manager of Financial Planning & Analysis – Celutel, Inc. (a cellular telecom subsidiary)

Significantly improved forecasting process by requiring GMs to submit estimated subscriber increases and churn as well as proposed marketing initiatives with their regular monthly data. Improved budget process through improved metrics and utilization of formulae throughout income statement and balance sheet. Streamlined many monthly reports prepared for management enabling managers to focus on key areas and topics. Forecasted net asset position within 2% for merger with Century Telephone.

Yankee Spirits, Inc., Sturbridge, Massachusetts – 1987 to 1991

Multi-location retailer of alcoholic beverages, soft drinks and gourmet foods

Position: Controller

As first controller for the company, successfully transitioned from manual to computerized accounting system, purchasing a computer network and software at a cost of one-third of what was budgeted. Trained office staff on use of hardware and software and brought accounting function in-house, eliminating need for outside accountants other than year-end audit. Purchased point of sale upgrade, increasing scan rate at registers from 65% to 96% and increasing customer throughput at checkout lanes. Created a new chart of accounts allowing greater detail in expense tracking. Implemented acceptance of credit cards, helping to reverse a trend of declining sales.

OTHER EMPLOYMENT

Crabtree & Evelyn, Ltd., Woodstock, Connecticut

Retailer and distributor of upscale toiletries and fragrance items

Position: Controller

Crosby Valve & Gage Co., Wrentham, Massachusetts

Manufacturer of pressure relief valves, a subsidiary of Moorco International

Position: Senior Accountant/Billing Supervisor

Masoneilan International, Inc., Norwood, Massachusetts

Manufacturer of process control valves, a subsidiary of Studebaker-Worthington

Position: Senior Accountant

Abex Corp. (American Brakeshoe Company), New York, New York

Diversified manufacturer, subsidiary of Illinois Central Industries

Position: International Accountant

EDUCATION

Nichols College - Dudley, Massachusetts

Master of Business Administration, 3.82 GPA

New York Institute of Technology - New York, New York

Bachelor of Science, 3.74 GPA major in Finance

Anne Arundel Community College - Arnold, Maryland

Various accounting classes toward completing course requirements for the CPA Examination

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