Management Manager

THOMAS E. DAMMAN

205-***-**** abla6y@r.postjobfree.com

INTERNAL AUDIT EXECUTIVE. Restructured seven Fortune 500-sized company

audit departments to achieve a superior contribution to overall business

performance. Advised boards of directors on emerging governance and audit

issues. Upgraded audit staffs, reporting controls, systems efficiency, due

diligence processes and profitability. Incisive, diplomatic, team builder.

CPA, MBA, CDPA,

Industry experience in health care, financial services, insurance and asset

management, manufacturing, technology, financial services, media,

publishing, retailing and distribution, natural resources. Companies

served include PricewaterhouseCoopers, HealthSouth Corporation, Prudential

Financial, The McGraw-Hill Companies, Standard & Poors,

StanleyBlack&Decker, Reed Elsevier, Lexis Nexis, Dow Corning, Kmart,

Kellogg's, Dana, J.M. Huber.

2006-Present Koexco - Control Excellence Company. A management assistance

company focused on excellence in internal controls, internal audit and

corporate governance.

Chief Executive Officer

View company website at www.koexco.com

2004-2006 HealthSouth Corporation. Diversified healthcare company with

inpatient hospitals and outpatient care centers in rehabilitation, surgery

and diagnostics. In 2003 the company and former CEO and CFOs were indicted

for a $2.6 Billion financial reporting scandal that took place over several

years.

Senior Vice President Corporate Audit. Reporting to the Audit Committee

and to the CEO.

As part of the new top management team brought in to clean up the

financial scandal:

. Rebuilt the audit department essentially from scratch within six

months.

. Recruited and hired four new directors and 20 staff seniors and

managers.

. Trained staff and established new policies, procedures and audit

programs.

. Developed and executed risk-based, short and long range audit plans.

. Created Enterprise-wide Risk Planning and Management System in

cooperation with executive management.

. Developed Anti Fraud program including fraud risk assessment and anti

fraud controls.

. Assisted management and prosecutors with forensic auditing, fraud

investigations and cleanup.

. Established new internal control systems where previously none

existed.

. Developed Sarbanes - Oxley 404 and 302 compliance programs.

. Evaluated, documented and tested internal control systems.

. Educated Audit Committee members on Sarbanes Oxley, internal control,

and anti-fraud requirements.

. Assisted Committee in creating a comprehensive committee agenda and

monitored its execution.

. Assisted Committee in creating and executing a self-evaluation

process.

2000-2004 The Cornerstone Group. A board of directors and senior

management advisory firm on corporate governance, internal controls,

internal audit and regulatory compliance.

CEO, President & Founder.

. Created a top down internal control review process to improve the

speed and effectiveness of control documentation by 68% while

streamlining and eliminating unnecessary controls.

. Developed an internal control capability maturity matrix to assist in

evaluating compliance with Sarbanes-Oxley compliance readiness

relative to model internal control organizations.

. Advised SEC, Public Company Accounting Oversight Board, Congressional

Committee for Energy and Commerce and the Senate Committee for Special

Investigations regarding implementation of Sarbanes-Oxley.

. Researched and authored a white paper on "Conflicts of Interest in the

Audit and Accounting Industry and Suggestions for Improvement."

Published in the January 2003 issue of The Corporate Board journal.

. Published article "Controls From the Top" in Governance - an

International Journal of "Essential, Authoritative Analysis and

Opinion for Boards of Directors, Senior Executives, Investment

Professionals."

. Designed and developed website to inform interested parties on

emerging corporate governance issues.

. Assisted government officials, legislators, candidates, news media,

shareholders and boards of directors on governance, internal controls,

Sarbanes-Oxley compliance and COSO standards.

Resume (cont.) - Thomas E Damman Page 2

1997-2000 J.M. Huber Corporation. Engineered materials, natural resources,

manufacturing and technology conglomerate: contract technology

manufacturing, oil & gas production & trading, forest products, minerals,

industrial and pharmaceutical grade chemicals - 72 plants & operating

locations in 19 states and 11 countries - Edison, NJ.

Vice President Audit. Reporting to the Audit Committee

(administratively to the CFO).

1. Coordinated audit committee agenda and minutes. Redesigned the

committee charter and guided the board through implementation of NYSE

Blue Ribbon Committee recommendations on governance.

2. Rebuilt audit/compliance function from scratch, hiring and training

staff, designing audit programs and reports. Installed self-assessment

and virtual audit programs. Upgraded audit productivity 78%.

3. Established a management development program within audit for fast

track general managers and senior corporate managers. Trained and

placed first class into key positions within 6 months.

4. Authored a risk-based planning process. Upgraded board reporting.

Together with the General Council, implemented company's first

compliance program including a whistle-blower hot line.

5. Saved $98 million through due diligence of six acquisitions and one

major divestiture. Facilitated integration planning. Streamlined

financial and operational systems arising from the consolidation of

several businesses

6. Engineered a 28% reduction in working capital, saving $229 million in

inventory and receivables in one year.

7. Generated $18 million cost reduction - upgrading controls over

disorganized procurement operations.

8. Installed vendor audit programs and generated $6 million in

recoveries.

9. Accelerated year-end close one month by coordinating external audit

process with new closing procedures.

10. Established corporate treasury controls permitting successful

acquisition of a $1.6 Billion credit facility.

11. Stemmed $8 million in margin erosion by uncovering deficient pricing &

ordering procedures.

12. Identified $3.5 million in revenue recovery opportunities by

establishing a vendor tracking & rebilling process.

13. Avoided trading loss of several $million from Enron bankruptcy by

enforcing corporate hedging policy.

14. Initiated, designed and monitored successful, company-wide Y2K

technology and disaster recovery program.

1993-97 Reed Elsevier, PLC. International publishing and information

services. World's largest legal/professional/business publisher and online

information provider (Lexis Nexis). Headquarter - London, UK

Internal Audit Manager - Americas/Pacific Rim. Report to Chief

Auditor & CFO in London.

15. Designed worldwide risk model to form the core of audit planning and

Board reporting. Installed new audit and reporting process upgrading

quality, content, timeliness and productivity (62%).

16. Initiated "Cross Business Reviews." Spread best practices producing

over $12.5 million annual savings.

17. Led integration planning team for $1.5 Billion acquisition (Lexis

Nexis) producing 300 page plan. Initiated reorganization of complete

financial system to replace antiquated legacy system

18. Corrected project management controls in several multi-million$

implementation projects, reducing costs and improving speed and

reliability of systems implementation.

1990-92 The McGraw-Hill Companies. Financial services and bond trading

(Standard & Poors), Business publishing (Business Week) professional and

educational books, construction reporting. NYC.

Director Corporate Audit. Reporting to the Audit Committee

(administratively to the CFO).

19. Implemented risk-based audit planning. Upgraded department

productivity and Audit Committee reporting. Organized department

along business line improving effectiveness in evaluating business

risks.

20. Reduced headcount 15%. Produced $580K annual savings while upgrading

audit programs and productivity.

21. Corrected project management controls for a major project and

recovered $1.8 million from system integrator.

22. Reviewed Standard & Poors bond rating and trading operations

recommending improvement in key areas.

1988-90 Prudential Financial, Inc.- Asset management, brokerage, trading,

investment banking, insurance. Largest financial services company (at the

time). Newark, NJ & NYC

VP Audit and Associate Comptroller. Reporting to Chief Auditor, CFO and

Audit Committee.

23. Created first five-year audit plan and obtained Senior management and

Audit Committee approval.

24. Restructured auditing for $200B asset management organization. Created

specialized teams. Established rapport with investment managers and

developed specialized controls for diversified investment lines.

25. Audited derivatives trading (interest & currency swaps) insuring

balanced book and adequate record keeping.

26. Audited mortgage banking and real estate investment operations

uncovering vendor kickback schemes.

27. Managed 112 professionals in 5 locations, domestic and international,

covering five business lines.

Resume (cont.) - Thomas E Damman Page 3

1982-88 StanleyBlack&Decker/Emhart. Diversified, international

manufacturing, consumer products and information systems. 110 businesses

in 30 countries. Farmington Ct. (merged w/Black & Decker in 1989)

Director Corporate Audit/Consulting. Report to the Audit Committee

(administratively to CFO).

28. Responsible for 48 staff in three countries (US, UK, Germany).

Streamlined the organization, consolidating functions and reducing

headcount 20% while upgrading quality and performance of staff.

29. Integrated operational, financial and IT audit process. Recruited

plant managers, engineers, MBAs. Placed 25% to 30% of staff in

management positions annually. Reduced turnover from 70% to 10% in

one year.

30. Established "Just in Time" manufacturing producing $30 million in

annual benefits. Developed company-wide training programs for

operational managers and implemented numerous operational improvement

programs.

1975-82 PricewaterhouseCoopers. Started in Detroit office, promoted to

National Office in New York.

Senior Manager, Management Advisory Services IT Audit/Consulting.

31. Developed technology and audit training programs in National Office

for PwC partners, managers and clients.

32. Regional IT audit manager in Mich. for major clients including: Kmart,

Dow Corning, Kellogg's, Dana.

33. Established the first minicomputer consulting practice producing

several $million in annual fees (requirements definition, systems

selection, design, programming, implementation)

MBA, Oakland University (formerly Michigan State University); BA,

Michigan State University; CPA, Price Waterhouse, Michigan ;

CDPA, Certified Data Processing Auditor

Interests: family, running, skiing, travel, soccer coach (12 yr. old son).

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