Manager Sales

Derek Pennant-Jones

Email: *********@********.***

Address: **** ******** ********* *** #*****

City: Austin

State: TX

Zip: 78750

Country: USA

Phone: 210-***-****

Skill Level: Management

Salary Range: $90,000

Primary Skills/Experience:

See Resume

Educational Background:

See Resume

Job History / Details:

Derek Pennant-Jones

6500 Champion Grandview Way # 33301

Austin, TX 78750

Mbl: 210-***-**** : *********@********.***

Executive Profile

Finance leader responsible for the monthly close process with specific success in managing cash flow, inventory and internal processes. A continual focus upon improvement has led to faster reporting times and better data analysis including inventory variances, uncovering the misuse of company assets, and incorrect revenue recognition. The improved processes have had the added benefit of shortening the quarterly and annual audits with both Ernst & Young and Maxwell Locke and Ritter. The ability to meet deadlines effectively and communicate across departments has resulted in upper management adding responsibilities including managing HR and benefits and spearheading inter-departmental task forces.

Skill Highlights

* Implementing processes to produce better results.

* Developing relationships with vendors and customers to improve cash flow.

* Reducing DSO to meet terms.

* Inventory procedures including FOB policies.

* Elimination of revenue recognition issues by implementing operational controls.

* Full charge of the general ledger, income statement and balance sheet.

* FAS 123R reporting.

* Internal controls and risk assessment.

* Accounting systems - Quickbooks / OutlookSoft / Peachtree / Timberline / Oracle.

* Assisting with quarterly and annual audits.

* Sales tax reporting and audits.

* US GAAP including SOX compliance.

* Achieving bank covenants.

* Financial consolidation and reporting of 15 companies on a weekly basis.

* Payroll processing.

* Processing student and H-1B work visas.

* Developing staff.

* Advanced Excel modeling.

Professional Experience

Reddwerks Corporation, Austin, TX $88,000 (06/2010 - Present)

Treasurer / Manager of Financial Reporting. Privately owned Software Company in the supply-chain industry achieving $18M in annual revenues. Currently producing an interpreting the Company's Financial Reporting Package, full review of reconciliations, processing Payroll for 105 employees, and managing both Accounts Receivable and Accounts Payable. The CEO asked me to manage Human Resources and recruiting for 10 months when Reddwerks was without a VP of HR due to my ability to successfully work across departments.

* Direct report to the VP of Finance.

* Reduced accounts receivable to under 30 days by developing the AR manager and implementing new systems.

* Repaired relationships with our vendors to increase trade credit and manage cash flow.

* Corrected two years of difficult unresolved AP, AR, purchase orders, and item receipts. New processes and controls have been developed to keep them accurate.

* Manual monthly filing of sales tax in 30 states with direct responsibility for state audits.

* Corrected inconsistencies between HR and Accounting to properly allocate labor costs and align hiring budgets.

* Implemented the web based product Concur to process 100+ employee travel and expense reports per month improving both the employee experience and eliminating the error prone manual process using excel.

* Implemented the Payroll transition from ADP EZ Pay to the new platform ADP Work Force Now 4.0 after a full cost/benefit analysis versus Paycom, Paychex, and Paylocity.

* Influenced processes to improve the daily processes and the monthly closing process.

* Renewed our benefits packages in 2011 and 2012 and processed the annual enrollments.

Argyle Security, Inc., San Antonio, TX (06/2008 - 06/2010)

Director of Cash Management and Financial Reporting. Publicly traded SOX compliant security construction-company with $110M in annual revenues. Managed $20M in outstanding accounts receivables across ten business units for an average DSO of 48 days. Produced the Financial Reporting Package for the Board of Directors and Executive Management team, which included detailed analysis of the monthly and quarterly results. Additionally, created the Operations Review Package, analyzed monthly by all Business Unit Presidents and Executive Management team.

Director of Cash Management and Financial Reporting (01/10 - 06/10)

Monitored $15M across 25 bank accounts including the movement of funds to eliminate overdraft charges and meet AP requirements. These responsibilities were in addition to the duties required as the Manager of Financial Reporting and Analysis.

* Discovered and returned $295K from two bank accounts which were previously hidden from the company.

* Renewed CDARS and determined the correct maturities to maximize return and avoid early termination penalties.

* Monthly analysis to ensure that the line of credit was paid down and increasing it as required by the business cycle while meeting numerous bank covenants.

* Transitioned accounting systems from Peachtree to timberline.

Manager of Financial Reporting and Analysis (06/08 - 01/10)

In charge of the parent company's financials from the general ledger to the income statement and balance sheet each month. The detailed and organized reconciliations performed each month led to a 50% reduction in the time required to perform the company's quarterly and annual reviews.

* Reduced the closing process from 20 to 5 business days.

* Developed a comprehensive capital table to manage the reporting and tracking of the Company's restricted stock, warrants, and options.

* Revenue recognition project in our manufacturing department to become SOX compliant. Controls were implemented to verify that the customer had possession of our goods before the revenue was recognized.

* Spearheaded the reduction DSO of accounts receivable from 95 to 70 days in first two months by resolving almost all outstanding issues on the aging report. Past due accounts receivable (greater than 90 days) were reduced by 75% resulting in a DSO of 48 days.

* Rebuilt the 2009 and 2010 reporting packages to correct inconsistencies and errors.

Redcats, Indianapolis, Indiana (10/2005 - 06/2008)

Financial Analyst. Internet based catalog-company currently generating $2.5B in annual revenues with French parent company PPR.

Summarized the weekly and monthly performance of 15 Redcats' companies for submission to the parent company in France. Managed budgets and forecasts in the various financial reporting models for monthly and quarterly outlooks and re-forecasts. Prepared the consolidated monthly reporting package for the parent company (PPR) and for the monthly management meeting at headquarters in New York. Performed various ad hoc vendor and competitor research and analysis projects.

* Provided weekly-consolidated results for 15 different companies across the U.S. while reducing the monthly processing timeline by 7 days.

* Streamlined information uploads from numerous databases to PPR's accounting system providing a 45% reduction in processing time for monthly financial reporting.

* Reduced international inter-company accounts receivable to from over 180 days to 60 days.

* Asked by the CFO to lead two Task Forces to improve the internal reporting process.

CRW, Carmel, Indiana (06/2003 - 10/2005)

Operations Manager

Managed all aspects of the operations.

* Carmel Unit was certified as Indiana's first Training Center of Excellence.

* Responsible for training ten other locations at quarterly product updates.

* Highest gross margins in Indiana.

* Reduced customer complaints by 80%.

QLSA, Inc., San Antonio / Sherman, Texas (11/1992 - 06/2003)

Multi-unit Operations Manager

QLSA Inc. was created to acquire the franchise rights to the San Antonio Burger King market in 1992. Recruited by the owner when QLSA had just 16 stores; it grew to 32 stores before being sold in 1997. In 1995 QLSA acquired a TGI Friday's in San Antonio and in 1998 QLSA Inc. acquired 16 Burger Kings in the Dallas Fort Worth Metroplex. Primary responsibilities were turning around their performance by training their management teams.

* Inventory controls often exposed previously hidden stealing from the company.

* Increased sales by over 20%, which led to a 50% increase in net income.

* Introduced metrics to better improve performance resulting in higher productivity numbers and a 35% improvement in speed-of-service.

* Reduced Gross Margin 3% pts while reducing inventory levels by 30%.

* Transformed underperforming stores from unsatisfactory ratings to superior ratings by reintroducing training programs and developing better internal processes.

* Reintroduced employee-training programs to improve service levels by 60%.

NightRider, Dallas, Texas (08/1990 to 11/1992)

Accounts Receivable Manager

Resolved receivables over 60 days by developing relationships with our customers.

* Reduced accounts receivable aging from 180 to 45 days while reducing outstanding receivables from $2 million to $500,000.

* Initiated the implementation of controls on our sales force for extending credit.

Education

MBA Indiana University - Kelley School of Business - Bloomington, IN - 2010 GPA 3.9

BBA University of Texas - Austin, TX - 1990 GPA 3.0

Major in Economics / Emphasis in Finance

Organizations

FEI - Financial Executives International

Beta Gamma Sigma - International Honor Society

Membership restricted to top 20% of top ranking MBA programs.

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