Manager Management

RICHARD A. PORT

** ****** ****

Wilmington, DE **807

302-***-**** **********@***.***

SUMMARY OF QUALIFICATIONS

Dedicated, bottom-line oriented and responsive SENIOR FINANCIAL executive

with a proven track of success. Persistent problem solver who thrives on

challenges, excels under pressure and gets the job done. Diligent,

consistent and resourceful team builder who possesses outstanding

communication and excellent interpersonal skills. Quietly assertive/hands-

on leader and motivator, thorough planner and win/win negotiator dealing

effectively across all levels of the organization. Accustomed to a fast

pace and multiple projects, fulfills priorities and understands competing

agendas while steadfast to principle yet flexible to approach and solution.

Areas of Expertise

Financial Operations Management including budgeting & forecasting,

financial analysis & modeling, financial & debt restructuring, treasury,

costing (standard, direct, process, ABC), controllership, cost reduction

programs and profit improvement; operational enhancements, liaison with

auditors, attorneys, banks; financial reporting, board, shareholder and

bank presentations and financial support for senior operational management.

Cash & Working Capital Management including cash flow forecasting, credit &

collections, inventory management, billing, lock box, banking relations,

cost controls and insurance risk management.

Strategic and Financial Planning including operations analysis,

identification of key issues, goal setting, short & long term business

planning, product line profitability, ROI & NPV, marketing/financial

forecast integration, capital expenditure, acquisitions and due diligence.

General Management & Supervision including daily supervision of purchasing,

vendor negotiations, materials management, warehousing, MIS, facilities and

benefits administration; talent evaluation and team building, staff

training and development. Hands-on experience with People Soft and

Peachtree.

BUSINESS EXPERIENCE

2006 - 2011 Controller, RTA HOME MEDICAL EQUIPMENT AND PHARMACY CARE,

Chadds Ford, PA, a $5 million home healthcare distribution

company.

Directed all financial functions for the organization. Responsible

for financial reporting, budgeting, forecasting, and financial

analysis, accounts receivable, pricing, inventory, accounts

payable, and cash management. Managed the company's internet

business and the implementation of a new billing system.

Managed 5 direct reports and was responsible for 20 employees.

Reported to the CEO.

2005 - 2006 Controller, UPPER BAY COUNSELING AND SUPPORT SERVICES, Elkton,

MD, an $8 million provider of behavioral health and community

services.

Directed all financial functions for a 150 employee organization

including financial reporting, budgeting, forecasting, and

financial analysis, accounts receivable, accounts payable, and

cash management. Managed 3 direct reports and reported to the

CEO.

2001 - 2005 Continuing education (IMA) and job search activities. Part

Time Controller at Windcrest Animal Hospital in Wilmington, DE,

the largest veterinary practice in the state with one main

hospital and 3 satellite facilities.

1996 - 2001 Director of Finance, JEFFERSON HEALTH SYSTEM (Main Line

Clinical Labs), Bryn Mawr, PA, a $50 million clinical testing

laboratory subsidiary.

Directed all financial functions for a 300 employee division

including budgeting, accounts payable, billing, accounts

receivable, GL and monthly reporting. Managed $ 30 million

expense budget, two direct reports, 10 support employees and

reported to CEO.

* Upon hire, to resolve 18 internal audit issues, evaluated

existing procedures and identified need for additional staff.

Negotiated the hiring of 10 additional Billing Clerks. Trained

new and existing staff in revised procedures then closely

monitored operations. Result: established fiscal discipline and

turned around the Billing Department; resolved all issues in

audit report within 18 months.

* To improve days sales outstanding (DSO) in Accounts Receivable

and increase cash receipts, restructured the billing department,

converted from paper to electronic billing for three insurance

carriers (60% of cash receipts), and developed all policies and

procedures for electronic billing and cash posting. Retrained

staff. Result: DSOs decreased from 180 to 60 days achieving an

increase in monthly cash receipts of over 100% ($500,000).

* To strengthen the business decision-making process, created a

detailed General Ledger package for the revenue portion of the

billing system. Developed accounts for all major segments of

the revenue stream (Patient, Client, Medicare, Personal Choice,

Pennsylvania Blue Shield). Also created detailed offset

accounts for the same items enabling management to determine

reasons for the offsets to Gross Revenue (contractual

allowances, bad debt expenses, ICD-9 non-compliance, etc.).

Result: reconciliation between Detailed Trial Balance and

monthly reported balanced sheet items was a difference of .05%;

provided management with a clearer picture of revenue and

revenue offsets flowing through the billing system.

* To improve profitability and cash flow, negotiated a payment

plan with the company's largest client who was in bankruptcy

proceedings. Billed activity for the client represented nearly

8% of the monthly net revenue. In the previous 2 fiscal years

the company had incurred write-offs of $2,000,000 and $500,000

respectively. Result: collected all accounts receivable

associated with the client and prevented a bad debt write-off of

$750,000.

1995 - 1996 Financial Consultant to an IPO.

1991 - 1994 Chief Financial Officer, MEDLAB, INC., New Castle, DE, a $40

million privately held clinical and environmental testing company.

Managed controllership/treasury functions as well as purchasing,

warehousing and MIS for this 400-employee company.

* To improve the company's financial structure, renegotiated

banking agreements and restructured $ 5 million in debt.

Regularly interfaced with the Board and the banks. Result:

saved $1,125,000 in cash over two years that allowed the company

to pursue and complete an acquisition, achieve better terms for

equipment purchases, and better purchase contracts for operating

supplies.

* To improve cash flow, re-negotiated the premium payment

arrangement with the company's health care provider. Result:

saved $525,000 over a two-year period.

1987 - 1991 CORNING, INCORPORATED, Enseco Division, Somerset, NJ, a start-

up multi-site

environmental testing laboratory.

Director of Finance & Administration - 1988 - 1991.

Responsible for budgeting, business planning, forecasting

capital expenditure and profitability guidelines. Also managed

Contract Administration, stock purchase plan and 401k plan.

Supervised $55 million operations budget and reported to CFO.

Consolidated, reviewed, and established financial operating

procedures.

* To lower operating expenses, consolidated 7 local laboratories

into a single purchasing organization. Developed national

contracts and consolidated suppliers where appropriate to

achieve economies of scale and save money. Personally

negotiated the majority of contracts. Result: improved

discounts for two major suppliers, consolidated regional

agreements into national agreements, renegotiated the national

insurance agreement and saved $1,500,000 annually.

Director of Budgets & Financial Analysis - 1987 - 1988.

1985 - 1987 Manager-Budget & Performance Analysis, SHARETECH, Parsippany,

NJ, a joint venture of AT&T and United Technologies in shared

tenant services. Defined financial objectives and profitability

guidelines for start-up. Reviewed and analyzed operating plans

to ensure consistency with management objectives.

1981 - 1985 BECTON DICKINSON & COMPANY, Consumer Products Division,

Rochelle Park, NJ, a $250 million division of a Fortune 500

Company.

Unit Finance Manager - 1984 - 1985.

Managed all financial operations for a $100 million strategic

business unit.

Manager of Budgets & Forecasts - 1982 - 1984.

Managed the preparation of the Annual Plan, Business Plan and

Monthly Reforecast for a division with two manufacturing

facilities, one packaging facility and six Strategic Business

Units.

Senior Manufacturing Analyst - 1981 - 1982.

1977 - 1981 DURACELL INTERNATIONAL, subsidiary of Dart and Kraft, Inc.,

Tarrytown, NY, (a multi billion Fortune 500 conglomerate with

businesses encompassing Tupperware, Chemical Plastics, Consumer

Products, and Glass Containers)

Manager of Inventory Control and Capital Planning - 1980 - 1981

Managed the inventory control program ($3 million) and the

capital planning program ($40 million) for a multi-facility

organization.

* To reduce inventory losses, developed an inventory control

program at a multi-site manufacturing operation. Revised

policies and procedures, trained personnel, and established

control points where product moved from one process point to

another in the manufacturing cycle. Result: saved $300,000 on a

total inventory of $3,000,000.

Senior Operations Analyst, Corporate Internal Audit (Dart &

Kraft) - 1979 - 1980.

Operations Analyst, Corporate Internal Audit (Dart & Kraft) -

1977 - 1979

1976 - 1977 Senior Financial Analyst, LEVER BROTHERS COMPANY, New York, NY.

* To improve profitability and streamline operations performed

an in-depth cost analysis of a $30 million product line.

Result: presented the analysis to divisional senior management

and saved $5 million by recommending termination of the product

line.

1974 - 1976 Financial Analyst, UNION PACIFIC CORPORATION, New York, NY

EDUCATION

MBA, Finance, Stern School of Business, NEW YORK UNIVERSITY,

1974.

B.A., Economics, LAFAYETTE COLLEGE, 1971.

AFFILIATIONS

Institute of Management Accountants.

Financial Executives Networking Group.

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