Sales Accounting
Resume:
KERRY P. CARNEY
Portland, Oregon 97229
************@*******.***
SUMMARY
Senior executive with extensive experience with public and private
companies. Demonstrated ability to partner with senior leadership to
develop long-range strategies, create solutions to address key business
issues, and successfully lead implementation efforts. Proven expertise in:
Profit Optimization Mergers and Acquisitions Internal Control
Process Reengineering SEC Reporting System Conversions
Cash Management Sarbanes-Oxley Planning and Analysis
Implementation
PROFESSIONAL EXPERIENCE
KNOWLEDGE LEARNING CORPORATION: Portland, Oregon 2006 - 2009
Vice President/Controller
Knowledge Learning Corporation (KLC) generates $2 billion in revenue from
2,000 day care centers, 1,550 education programs and on-line learning
solutions. KLC is the largest for-profit provider of early childhood care
and education services.
Responsibilities included all accounting functions (General Accounting,
Payroll, Accounts Payable, Accounts Receivable and Fixed Assets), External
Reporting, Treasury and the Federal Subsidy Programs. Position reported to
the Executive Vice President/CFO while providing direction for these
departments and approximately 200 employees.
V Led critical change management effort with all members of organization to
institute a culture of owning and delivering financial and operational
targets.
V Coordinated and conducted quarterly audit and disclosure committee
meetings.
V Organized and participated on the quarterly earnings call and served as
key investor relations contact.
V Created capital procurement ($90 million annual expenditure) procedures
and implemented a monitoring process that included a capital approval
committee consisting of the CEO, CFO and myself.
V Extensive experience in system design, implementation and support, which
resulted in increased productivity and profitability (Oracle and
Hyperion).
V Responsible for all external (SEC type) filings and coordination with
outside auditors.
V Reorganized the accounting department and re-implemented the Oracle chart
of accounts that resulted in the reduction of the monthly close process
from 22 to 8 days and improved the balance sheet monthly account
reconciliation process from 25% of the accounts reconciled to 100%.
V Restructured accounts receivable processes and implemented electronic
check conversions at the facility level to accelerate cash collections.
V Introduced and implemented payroll (40,000 employees) and purchase cards
(4,000 cardholders).
V Reduced the number of bank accounts from 1,300 to 75 in eighteen months
with an annualized savings of $600,000.
V Supervised the short-term investment of $140 million.
V Extensive experience in due diligence and purchase price accounting of
acquisitions.
V Member of the company's 401k committee.
NEIMAN MARCUS: Dallas, Texas 2000 - 2006
Senior Director of Accounting/Assistant Controller
Neiman Marcus produces $5 billion annually from its retail, e-commerce and
mail order divisions.
V Managed the accounting operations including General Ledger, Accounts
Payable, Payroll, Inventory, Sales Audit and Sales/Use Tax plus broad
strategic partnering with executive team to drive growth and
profitability.
V Directed the internal financial reporting. Pro-actively interfaced with
Senior Management in all areas, on both a routine and ad hoc basis, to
develop and deliver actionable internal financial reporting tools.
V Negotiated the contract and coordinated the outsourcing of Payroll
processing to ADP.
V Extensive experience in system design, implementation and support, which
resulted in increased productivity and profitability (Oracle and
Hyperion).
V Coordinated initial Sarbanes-Oxley documentation for the accounting
department and monitored on-going compliance within the department and
company.
CompUSA: Dallas, Texas 1998 - 2000
Senior Director of Accounting/Assistant Controller
Annual revenues from retail, manufacturing, mail order and technical
services are $6 billion for CompUSA.
V Directed the accounting operations including General Ledger, Accounts
Payable, Payroll, Inventory and Sales Audit.
V Responsible for the internal and external financial reporting of a
publicly held corporation - all SEC reporting. Pro-actively interfaced
with Senior Management in all areas, on both a routine and ad hoc basis,
to develop and deliver actionable internal financial reporting tools.
V Directed the accounting transition for CompUSA's acquisition of Computer
City (100 stores/$1 billion revenue). Activities included vendor
settlements, account analysis to develop purchase price adjustments,
transaction reporting issues (including SEC comments), systems
integration and negotiation of settlement issues with seller.
V Extensive experience in system design, implementation and support, which
resulted in increased productivity and profitability (SAP and Hyperion).
ECKERD: Clearwater, Florida
1986 - 1998
From 2,800 retail outlets, Eckerd generated $12 billion in revenue.
Senior Director of Accounting/Assistant Controller (1996 - 1998)
V Responsible for accounting operations including Accounts Payable,
Inventory and Sales Audit.
V Appointed accounting transition team leader for the JCPenney/Eckerd
merger. Successfully consolidated three diverse drugstore companies'
accounting functions (merged 1,000 stores/$1 billion revenue and 3
distribution centers with Eckerd operations).
V Extensive experience in system design, implementation and support, which
resulted in increased productivity and profitability (Oracle and
Hyperion).
Corporate Director of Internal Control and Analysis (1990 - 1996)
V Developed a gross profit opportunity model through linear regression,
which increased the profitability of 200 retail outlets by $7 million in
one year. This was the first analysis of this type to provide decision
making vs. historical information to the merchandising managers.
V Reduced inventory shortage by $20 million (20%) in 3 years through
training, awareness, systems support and audits.
V Developed systems, internal controls, and audits that produced the
following reductions in 2 years: voids - $20 million (15%), refunds - $10
million (50%) and cash shortages - $600,000 (50%).
V Managed the Electronic Article Surveillance Program (815 EAS Systems),
which produced an 18% increase in productivity while saving $632,000 in
tag expense. Implemented EAS tag application in the distribution
centers, which resulted in a $1 million payroll savings for the stores.
Successfully negotiated the $16 million contract and coordinated the
implementation of chain-wide EAS.
V Designed and implemented chain-wide (1,750 stores) check verification
system that resulted in net savings of $400,000.
V Installed and managed the POS exception reporting system to monitor
transactions and initiate audits and investigations, where necessary.
Regional Controller-Western Region: Dallas, Texas (1986 - 1990)
The Western Region was comprised of 500 stores with sales of $1.5 billion.
V Directed the overall accounting operations including General Ledger,
Accounts Payable, Payroll, Inventory and Sales Audit.
V Prepared the analysis and participated in the negotiation of acquisitions
which resulted in over 70 stores and $25 million in volume.
ZALE: Dallas, Texas
1980 - 1986
Operating Division (1983 - 1986)
Progressed from Financial Analyst to Director of Planning and Analysis.
V Prepared the annual operating plan and forecast with presentation to
corporate officers. Integrated and developed plans for all areas of the
organization.
V Developed initial 5-year strategic plan integrating Operations,
Merchandising, Marketing, Human Resources and Finance to achieve
corporate growth and return on asset objectives.
V Prepared the analysis and participated in the negotiation of business
ventures and the divestiture of two divisions.
Internal Audit (1980 - 1983)
PROFESSIONAL AFFILIATIONS
V Board member of the University of Texas Alumni Association - Dallas
Chapter (2000 -2006)
V President of the University of Texas Business Network - Dallas Chapter
(1999 - 2001)
V Board member of the National Association of Chain Drug Stores/Loss
Prevention Division (Chairman 1996 - 1997)
V Board of Directors and Treasurer of the Eckerd Credit Union (1994 - 1997)
EDUCATION
V MBA: University of Tampa (completed in the evening while working full-
time)
V BBA Accounting: University of Texas at Austin
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