Management Manager
Resume:
DOUGLAS J. NESBIT, CPA, MBA
abiesu@r.postjobfree.com
**** ******** ***. *. **** 207
St. Louis Park, Minnesota 55416
PROFILE
A seasoned financial professional with an extensive background in
manufacturing, hi-technology and medical technology businesses. Strengths
include leadership in developing and executing business strategy, a track
record of building high quality teams and organizational skills in planning
and implementing efficient systems within small to large organizations.
Demonstrated accomplishments in:
Financial, FASB, SEC reporting and research Accounting and
financial controls
Capital markets and investor relations Risk management
MRP and financial system implementation Corporate governance
Team leadership and human resource management Business
reengineering and integration activities
PROFESSIONAL EXPERIENCE
Independent 2005 - Present
Senior Finance and Accounting Consultant
This regional finance and accounting focused consulting practice has
approximately 200 senior level professionals providing project management
and staff augmentation services for small, medium and large organizations.
Capella Education Company Interim Treasury Manager
Varde Partners, LP (Hedge Fund) Financial reporting
ev3 Inc. S-1 disclosure support
Enova Medical Inc., CPC Marketing Part time CFO
Lawson Software Inc. 10K and S-4
disclosure support
J K North America Inc., International Decision Systems Inc. Interim CFO
GMAC RFC Forecast process development
and preparation
MoneyGram International Inc., Ameriprise Inc. 10K preparation
and disclosure support
Thomson West, MoneyGram International Inc. Project Management
All consulting projects have been extended beyond original end date.
Software used outside of resume includes People Soft, Hyperion, ABT, Visio,
Lotus Notes, Lawson and Navision.
HEI, INCORPORATED 2003 -
2005
Chief Financial Officer, Treasurer and Corporate Secretary
Responsibilities included: Performance of the following for a $45 million a
year publicly traded EMS provider focused on the medical device industry
with three sites located in North America. Span of control was strategy
formulation and development, treasury, SARBOX 404 compliance, risk
management, investor and investment banker relations, stock option plan
management, board interface, legal issue management, and SEC reporting.
Management of human resource, accounting and information technology
activities. Council to the company CEO, board of directors (serving on
audit committee, advising executive compensation and executive committees)
and participant on executive management team. Combined annual department
budgets of $2.0 million with staff of 10.
Accomplishments:
. Replaced high interest debt with cash flow
friendly vehicle with lower rates.
. Defended purchase accounting position that allowed a realized
debt discount of $500,000.
. Clarified strategic ERP systems direction
resulting in the selection of SAP.
. Restructured and integrated telecom
resulting in 15% to 20% savings.
. Dissemination and implementation of HIPPA requirements.
. Selection of sophisticated insurance broker that improved P & C
insurance programs.
. Partnered with CEO on building sale lease back reducing annual
costs by $500,000.
. Stabilized finance group during special investigation of illegal
activities.
. Partnered with CEO on rapid accumulation of funds via a $3.3
million PIPE.
. Defended company from potential restatement of prior financial
information.
. Settled inherited warranty exposure that solidified $2,000,000
upside.
. Led damage control related to false Dow
Jones press release.
. Designated as contact for FBI related to investigation of former
CEO.
. Partnered with law firm in collection of over $2,000,000 from
former CEO.
. Prepared and filed five SEC reports within
four month window.
. Disposition of remnant technology from
acquisition for $550,000 profit.
Douglas J. Nesbit
Page Two
LECTEC CORPORATION (Liquidated Operations) 2000 - 2003
Chief Financial Officer, Treasurer and Corporate Secretary
Responsibilities included: Performance of the following for a $16 million a
year publicly traded medical technology company focused on product
offerings using its hydrogel drug delivery vehicle. Span of control is
strategy formulation and development, treasury, policy and procedure
dissemination, risk management, stock option plan administration, investor
and investment banker relations, board interface, legal issue management,
and SEC reporting. Management of human resource, accounting and
information technology groups. Council to the company CEO, board of
directors (serving on audit committee, advising executive compensation and
executive committees) and participant on executive management team.
Combined annual department budgets of $1.4 million with staff of 9.
Accomplishments:
. Established finance as key partner in organization by improvement
of group credibility.
. Stabilized accounting and related manufacturing systems at
minimal cost.
. Accessed additional capital via mortgage, factoring, leases and
increased bank line.
. Reconstructed documents to support past board of directors
meetings/actions.
. Moved employee base to improved insured medical program limiting
annual increase to 6%.
. Modification of year end to calendar year basis to improve
communication and reduce costs.
. Established focused efficient budgeting system including
forecasting activity.
. Completion of financial transactions that resulted in greater
than $8 million gross proceeds.
. Structured $2.5 million prepayment program from largest customer
prolonging liquidity.
. Satisfied organizational, fiduciary, and statutory needs in spite
of 33% staff reduction.
. Defended stock listing during numerous challenges from NASDAQ.
. Participated as key member of team for name change
activity to reposition the company.
SECURE COMPUTING CORPORATION 1997 - 2000
Corporate Treasurer (1998 - 2000) Director of Finance (1997 - 1998)
Responsibilities included: Performance of the following for a $62 million a
year publicly traded developer of security solutions for computing
environments reporting to the Senior VP of Operations and CFO. Span of
control was treasury, policy and procedure deployment, risk management,
tax, payroll, credit and collections, SEC reporting, stock option plan
administration, facilities, 401k-plan administration and financial systems.
Participation in investor relations efforts and analysis of corporate
development opportunities. Annual department budget of $1.6 million and
staff size of 15.
Accomplishments:
. Led all aspects of placement of $25 million of public equity via
"equity line".
. Performance of "going private" analysis and recommendation.
. Championed tax efforts that resulted in the following:
- Relocation of $16 million NOL locked up in Canada.
- Capture of $300,000 Canadian research and development
credit.
- Elimination of various foreign and domestic legal
entities.
. Instituted numerous banking changes that improved organizational
efficiencies.
. Investigated loan options and negotiated $5 million line of
credit.
. Developed international financial structure including
identification of service resources.
. Redefined insurance broker relationship resulting in $105,000
annual savings.
. Liberated $750,000 of cash flow with sale lease back transaction.
. Re-scoped financial systems project and drove project to
successful implementation.
. Outsourced stock option administration at reduced cost and
improved efficiency.
. Rescued shareholder vote for annual proxy solicitation with all
recommendations accepted.
. Provided information that drove decision to restructure
organization to improve expense levels.
. Drove space reconfiguration project, eliminating three
locations, relocating manufacturing, salvaging $500,000 of
office equipment, and improving costs by $500,000 annually.
. Participated in preferred stock offering generating $16 million.
VALUERX, PPI (Acquired)
1996 - 1997
Corporate Controller
Responsibilities included: Performance of the following for a $2 billion a
year health care company. Span of control was financial shared services
inclusive of financial information generation, financial systems
management, accounting interface with holding company, tax compliance,
financial forecasting and budgeting, payroll, banking, billing, and
payables during turmoil of four reporting structures including three CFOs.
Annual departmental budget of $4 million and staff size of 50.
Accomplishments:
. Consolidation and integration of four independent finance
functions in 90 days.
. Eliminated remote finance function 75 days early, saving $200,000
with better local efficiencies.
. Led commando hiring effort that resulted in satisfied staffing
needs in 60-day period.
. Stabilized finance group during period of significant turmoil.
. Leader of $6 million re-engineering project including Lawson
implementation that resulted in:
- Rapid implementation of software in eight months
eliminating 17 independent platforms.
- Reduction of staffing model by 50%.
- Reduction of close process to 10 days.
Douglas J. Nesbit
Page Three
MVE INC. 1994 -
1996
Corporate Controller and Director of MIS
Responsibilities included: Performance of the following for a $200 million
a year, multi-facility, capital equipment manufacturer with 30%
international sales (three locations). Span of control was financial
information generation, policy and procedures, risk management, tax,
budget, forecast, SEC reporting, audits, and management of technologies
inclusive of communications. Staff of sixteen divided equally between
technology and accounting and six remote indirect reports.
Accomplishments:
. Prepared company's first SEC reporting including 10-K and 10-Q
timely.
. Led upgrade of JD Edwards software to current release without
system down time.
. Crafted theoretical position that resulted in $1 million positive
cash flow.
. Selection of more capable insurance broker providing $250,000 in
annual savings.
. Developed comprehensive control framework for accounting policy
and procedures.
. Provided impetus that resulted in reduction of obsolete inventory
$1 million or 50%.
. Managed effort to obtain government funds owed resulting in $1
million refund.
. Supported preparation of S-1 filing that resulted in $112 million
bond proceeds.
CONDUX CORPORATION 1989 -
1994
Manager of Corporate Accounting (1990 - 1994) Division Financial Analyst
(1989 - 1990)
Responsibilities included: Performance of the following for a $150 million
a year, multi-facility, construction products manufacturer (ten locations).
Span of control was financial statement preparation, tax, banking, budget
and forecast development, and modifications of AS/400-based financial
systems (Infinium). Focal point for year-end audit and tax return support
and development of policy and procedures for internal control. Direct
reports included three professionals.
CHURCH & DWIGHT COMPANY (Acquired) 1987 -
1989
Divisional Controller
Responsibilities included: Performance of the following for a $20 million a
year, multi-facility, specialty animal feed manufacturer (total corporate
size $1 billion in revenues). Span of control included budget preparation,
bank and audit relations, corporate interface, credit, procedure and policy
development, capital expenditure management, financial reporting,
inventories, cost accounting, receivables, payables, payroll, financial
system modification. Direct reports included four.
KNYTEX INC. (Acquired) 1984 -
1987
Accounting Manager
Responsibilities included: Performance of the following for a $20 million a
year, industrial textile manufacturer (total corporate size $60 million in
revenues). Span of control was preparation of monthly financials, fixed
assets, general ledger modification, budget preparation, development of
management reports, treasury, data processing interface, coordination of
audit, payroll, accounts payable, credit and collections and maintenance of
subsidiary ledgers. Direct reports included two.
Audit Senior
1982 - 1984
MEDTRONIC INC. (Experience in Fortune 500 medical equipment manufacturer in
Internal Audit)
Audit Senior
Prior 1982
KPMG PEAT MARWICK (Three plus years experience with Big 4 firm in audit and
tax capacity)
EDUCATION 1988 - University of Minnesota, Carlson School of Management,
MBA Finance
AND 1979 - Certified Public Accountant
CERTIFICATIONS 1977 - Northern Michigan University, BS Accounting and
Finance
PROFESSIONAL American Institute of Certified Public Accountants
ORGANIZATIONS Business and Industry Executive Committee
Financial Literacy Commission
Business and Industry Conference planning committee
CPE Executive Committee
G-100 Advisory Group - Annual census of CPA thought leaders
Advisory Group - "Collaborative Innovation and the Knowledge
Economy"
Minnesota Society of Certified Public Accountants
2000 - 2007 Board of Directors
Financial Executives International
Teachers Federal Credit Union - Board of Directors, ALCO Committee
OTHER NASD Arbitration/Chairman
Total Solutions Group - Financial leadership on sale of consulting
group in 2000.
SPEAKER CREDITS MNCPA - "Basics of Negotiation"
MNCPA - "Financial Statement Analysis"
MNCPA - "The Evolution of Asset Impairment"
AICPA Industry Conference - "Creation of Strategic Partnerships in
Your Organization"
Northstar Conferences - Panelist on Discussion of Corporate
Governance
References Available upon request.
Contact this candidate