Manager Management

Raymond O. Hale

*** *** ****** ***** *******, PA 19067

E-Mail: ****.***@*****.*** 973-***-****

Professional Experience

ACE Group, Philadelphia, PA - Insurance 03/2008 to Present

Vice President, North American Treasury

Successfully transitioned North American Treasury Operations into a Global

Treasury Center responsible for overseeing all worldwide treasury

activities. Developed strategic plan and provided technical direction and

management on all areas of treasury including policies and procedures,

liquidity and cash management, FX, risk management, treasury systems,

capital planning, cash forecasting, and short-term investments. Manage bank

relationships, bank administration and bank exposure to support daily

operations and strategic objectives.

. Identified and implemented a Global Bank Administration System which

resulted in visibility and control over 230 worldwide bank relationships

and approximately 2,000 bank accounts.

. Recovered approximately $45 million in company funds from Third Party

Administrators through the introduction of a zero-balance-account funding

program. Mitigated counter party exposure and eliminated idle balances.

. Improved controls through the introduction of a formalized bank exception

process. Through this new process Treasury received, reviewed and made

decisions on the use of 18 failed financial institution's, 17 of which

contained balances in excess of one million dollars.

. Integrated Treasury activities of acquired life insurance company

(Combined Insurance Corporation of America) into existing processes

without additional headcount.

. Identified Treasury functions suitable for outsourcing. Transferred

approximately 9,000 resource hours of work. Developed process for

reviewing and measuring work effort and team performance. Provided on-

going management for outsourced team of nine located in India. Projected

savings beginning 2012 of approximately $270,000 per annum.

PakMail, Boca Raton, FL - Packing and Shipping Franchise 04/06 - 03/08

Owner / Operator

Established a start up pack-and-ship franchise; specializing in packing and

shipping for commercial and residential customers.

. Completed site selection, franchise and lease negotiations and store

build-out in three months.

. Managed all aspects of running a small, owner/operator business including

sales and marketing, advertising, inventory, billing, tax payments and

bookkeeping.

. Achieved profitability within 14 months; sold business after 24 months.

Sony Electronics Inc., Park Ridge, NJ - Consumer Electronics 12/91 - 01/06

Assistant Treasurer, 07/98 - 01/06

Directed all treasury-related activities of this leading manufacturer of

electronic equipment. Sony Electronics Inc. (SEL), its operating divisions

and manufacturing facilities had sales of approximately $14 billion in

fiscal year 2004, and currently employs more than 15,000 employees in the

U.S. and Mexico.

. Managed a staff of 5 treasury professionals performing varied

operational, accounting, financial, analytical, and special project

functions. Responsible for bank relationships, FX management,

forecasting, daily funding, investments and wire transfer activity

(approximately $1 billion per month).

. Established Sony Electronics Receivables Corporation, a $900 million

Accounts Receivable Securitization. Responsible for review and approval

of all accounting entries, ongoing interaction with Conduit Banks, and

internal/external legal counsel.

. Supervised the establishment of a Treasury website that is now used to

provide financial data to SEL personnel throughout the U.S.

. Represented SEL on Sony Tokyo Finance Global E-Commerce Task Force.

. Supervised the development and implementation of an Intercompany

Netting/Settlement System.

. Implemented lockbox network that resulted in a reduction of lockboxes

from 20 to 6. Introduced imaging of lockbox documentation and supervised

the consolidation of Credit and Cash Application functions. Achieved

savings of more than $825 thousand per year.

. Responsible for Sarbanes-Oxley compliance as well as the establishment

and maintenance of Treasury's disaster recovery plan.

Manager, Bank Relations, 12/91 - 07/98

Responsible for all aspects of cash management and banking for Sony

Electronics Inc. Created a more efficient cash management process by

initiating the following:

. Reduced annual bank service fees by more than $200 thousand by reviewing

and negotiating pricing and service terms on cash management products,

and improving efficiencies.

. Developed EFT tax payment system to comply with government mandates.

. Established EDI program for "National Accounts" (approximately $300

million in receipts collected annually using this program).

. Introduced an integrated treasury workstation "XRT" which provided the

following: bank balance reporting, wire transfer execution, general

ledger interfaces, cash pooling to maximize short term investment income

potential in conjunction with investment portfolio and short term debt

management.

. Established a retail credit card program for SEL which grew to include

all Sony retail activities in the U.S. This $300 million program was

eventually the foundation for a new SEL Credit Card Department.

The Hertz Corporation, Park Ridge, NJ - World's largest car rental company.

06/90 -12/91

Manager, Treasury Operations

. Determine the daily cash position and coordinate the daily funding

activities.

. Administer the corporation's domestic and foreign bank accounts.

. Prepare rolling two-week cash forecast.

. Implemented program of using Letters of Credit to replace performance

cash deposits at 14 airport locations in Canada. Annual interest savings

of more than $200 thousand (Canadian).

. Introduced a fully automated Treasury daily wire transfer system

resulting in reduced bank fees.

. Development and implementation of a centralized petty cash system for

Hertz Rent-A-Car. Replaced 150 field petty cash bank accounts with one

centralized zero balance account. Eliminated the need for $1.3 million

in impress balances saving Hertz approximately $125 thousand per year in

interest expense. Closed field bank accounts resulting in an additional

savings of $45 thousand per year.

Amax Inc., Greenwich, CT - Precious and non-ferrous metals trading and

brokerage firm 06/1981 to 06/1990

Manager of Financial Operations, Ametalco Inc., 10/86 - 6/90; Supervisor,

General Accounting, Amax Copper, Inc., 10/84 - 10/86; Shipping Coordinator,

Amax Copper, Inc., 2/83 - 10/84; and Senior Accounts Analyst, Amax Copper,

Inc., 6/81 - 2/83

Education

Fairleigh Dickinson University Teaneck, NJ May 1981

Bachelor of Science, Economics & Finance

Earned 100% of expenses

Systems

MS Office, Oracle, SAP, PeopleSoft, most bank proprietary systems, Quantum,

Weiland, XRT and SunGard Quantum

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