Management Accounting

THOMAS WIAFE

*** ****** ***** ****: 860-***-****

New Britain CT. 06051 ******@*****.*** Mobile: 860-***-****

Financial Management professional with strong track record of performance in high-paced organizations including IBM and

UTC. Utilize keen analysis/insights with team approach to drive organizational improvements and implementation of best

practices. Superior interpersonal skills with record of resolving multiple complex Accounting, Treasury, Financial and

Operational issues and motivating staff to peak performance. Additional areas of expertise include:

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Policy & Procedure Implementation Credit Agreements & Cash Management

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Planning, Budgeting & GAAP Accounting FX Management under FAS 52/133/138

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Business Control & Financial Systems Audit Process improvement and re-engineering

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Systems Administration & Project Management Contract Negotiations & Strategic Alliances

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CAREER HISTORY AND SELECT ACHIEVEMENTS

INDEPENDENT CONSULTING 2012 – Present

Financing and Investment – Small and Medium Enterprises (SME)

Helping SME business to secure funding from investors in the United States interested in emerging markets. Assess strategic

fit, prepare DCF/IRR financial models and due diligence to determine viability of investment candidates.

UNITED TECHNOLOGIES CORPORATION - Otis Elevator Division, Farmington, CT 2006 - 2012

Senior Manager-Treasury & Financial Reporting

Treasury 2006 – 2012

Managed treasury center’s exposures and liquidity through working capital line strategy and execution within policy

guidelines of Otis Elevator North America operations ($2.3 billion in annual sales) mitigated treasury operational risk

by ensuring sound cash, debt management strategies and controllership. Evaluated and directed outside contractual

activities; worked with Legal on UCC files PCG, settlements, bankruptcies and disputes. Managed 3 analyst and 46

indirect reports across North America.

• Managed customer financing business cases working on financial models to determine financial impact of

transactions (P& L Projections, Cost-benefit, and ROI) collaborated with sales team, regional management and key

stakeholders to streamlined processes in the optimization of credit portfolio while ensuring Otis’ security interest was

protected in all deals with presentation and recommendations to Vice President of Finance.

• Oversaw software implementation and upgrades of financial systems working with IT department and ERP vendors

on the selection, valuation and project implementation phases. Utilized Achieving Competitive Excellence (ACE) total

quality management tools similar to lean business techniques to improve business process and asset management.

• Liaison with corporate Accounting and Tax department on any foreign dividend, capitalization of foreign subsidiaries

and any restructuring activities to ensure proper transactional processing and management.

• Actively participate as a critical member of the merger and acquisitions due diligence and integration teams.

Financial Reporting 2009 – 2012

Supported World Headquarters (WHQ) accounting closing process, monitored SG&A and Engineering transactions such as

head count, long term investment transactions, severance & restructuring, executive incentive and deferred compensation for

accurate accounting while analyzing transactional impacts on the P&L, Balance Sheet and EBIT reports.

• Coordinated annual e-collection of corporate tax information for World Headquarter (WHQ) working with UTC Tax

group to ensure proper reporting of dividends, investments, reserves, mergers & acquisitions and all other filings

required by the federal and state government.

• Supervised intercompany transactions which required billing, allocation of cost, transfer pricing for Asia Pacific

HQ, chargeback to different Otis Elevators entities worldwide and UTC divisions. Reviewed account reconciliations

and suggested improvements and action items.

• Supported Accounting Control Assessments (ACA) reviews on procedures and internal controls on all WHQ

intercompany & investment accounts.

• Assisted UTC Human Resource Talent acquisition team in the recruiting and development of candidates in the

Financial Leadership Program (FLP) managed and mentored rotational analysts under my supervision.

THOMAS WIAFE ******@*****.*** Page Two

International Business Machines – IBM, Southbury, CT 1998 – 2006

Senior Accountant & Financial Systems Controls 2003 – 2006

Financial Analysis

Analyzed financial data from IBM Financial Distribution System ($28 billion quarterly) such as revenue, product cost, service

cost, SG&A expense, development expense, headcount, inventory and managed revenue recognition process ($1.9 billion

quarterly) adjusting for revenue not yet triggered into the accounting system and reviewing business contracts to ensure

compliance with corporate guidelines. Tracked IT performance, expense allocation and chargeback.

Planning and Forecasting

Budgeted and forecasted revenue figures monthly and quarterly based on signed, expired, plan cost and re-negotiated

contracts comparing actual with plan and took corrective action on variances.

Systems Controls

Conducted Application Systems Control and Auditability (ASCA), peer review and User Acceptance Testing (UAT). Assisted

with Sarbanes–Oxley 404 audit of Financial Systems by establishing internal control posture, testing the operational

effectiveness, documentation of findings and corrective actions to management. Performed systems access reviews including

reviewing and resolving segregation of duties issues thereby ensuring proper alignment of responsibilities and corporate

expectations. Utilized risk assessments and gap analysis to manage controls & compliance issues. Scheduled monthly

operations calendar for systems, managed operational resources, established cost & pricing parameters and documented

project scope.

Senior Accountant – Treasury 2001 – 2003

Coordinated IBM inter-company operations for Europe, Middle East and Africa (EMEA) countries acted as liaison with

Corporate Head Quarters on $7 billion FX management programs to assist intercompany lending programs and their

exposures. Advised internal customers on complex FX exposure issues and worked with counterparty banks to construct

hedging strategies. Evaluated accounting impacts of exchange rates, taxes, and allocation of expenses utilized a firm

understanding of FAS 52/133/138.

• Resolved cash deviation, Netting, cash pooling, exception and export trade finance issues for World Trade working

with IBM HQ. Lead the foreign exchange committee and manage all FX exposures externally and intercompany. Working with

the various SBU controllers and country finance directors, manage FX exposure to limit currency risks and ensure hedging

effectiveness. Develop global cash forecasting models and global liquidity reporting.

• Successfully transitioned EMEA inter-company Accounting and Ledger Operations from Orleans, France into the US

involving 49 countries working with cross functional teams to complete project deadlines and business requirements.

Accountant 1998 – 2001

Involved with Internal Controls and undertook Semi-Annual Control Assessment (SACA) for Latin America inter-company

accounting. Verified ledger tie-out process, monitored float and assisted with Hyperion adjustments. Supported inter-company

cash operations in Brazil and maintained controls on accounts.

• Assisted in reducing IBM FX exposure during economic downturn in Brazil and Argentina in 1999 by reducing AP/AR by

25% and trained internal customers on Treasury center programs.

EDUCATION

MBA, Finance, Strategic Management & Marketing, University of Connecticut - Storrs, CT

BS, Accounting, Eastern Connecticut State University - Willimantic, CT

PROJECTS

Supported UTC ACE Certification (Achieving Competitive Excellence – total quality management program similar to Six

Sigma) initiative on Asset Management and WHQ Accounting closing process.

IBM Application System Control & Auditability reviews in compliance with Sarbanes–Oxley.

Business Process Management/ Disaster Recovery Testing and Review.

SOFTWARE SKILLS

Microsoft Word, Excel, PowerPoint, Access, Lotus Notes, Business Intelligence, JDEdwards, Hyperion Applications, SQL

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