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Finance Controller, team leader, multi-task, organized, fun

Chapel Hill, North Carolina, United States
May 31, 2017

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Koreen Bennett, CPA

**** ******* *****, ****** ****, NC 27516


Job Objective:

Contribute to the financial and tax success of your corporation using my Big-4 CPA, $100 billion financial reporting responsibility as NC Retirement Accounting Supervisor, and current Assistant Controller responsibilities spanning Treasury, nationwide tax, cash and investments management, international IFRS intercompany transactions, GAAP accounting close for USA holding company, budget, and audit experience.


Assistant Controller – Treasury + Tax, Loparex LLC, Cary, NC, $340m inbound manufacturer. 2015-present:

Control daily treasury reporting for cash, investments, intercompany interest, and both international and domestic wires. Provide insights to management regarding cash trends. Advise timing and magnitude of movements of operating cash to investments.

Improved corporate tax compliance with the 32 tax jurisdictions. Responsible for tax filings including corporate income, franchise, business privilege, sales and use, business property listings, excise tax, forms 1042 for interest payments reporting, and other taxes.

Company liaison for IRS and states’ tax authorities’ inquires and audits. Coordinate Price Waterhouse Coopers’ (PWC’s) income tax return preparation efforts. Advise improvements to strengthen internal controls.

Prepare the tax provision calculations spanning all tax accounts. Prepare analysis and support for monthly tax provision journal entries. Calculate the quarterly income tax estimates and finalize with PWC staff. Prepare intercompany elimination journal entries, while preparing the consolidated trial balance for income tax calculations.

Improved tax compliance with tax authorities. Inherited approximately 100 tax notices and liens as I started with Loparex LLC. Currently, Loparex LLC enjoys full compliance with tax authorities. Monitor the collection of refunds and back taxes. Contact tax authorities to remind tax jurisdictions to remit payments owed to Loparex USA LLC.

Prepared the company’s first tax calendar of deadlines. Maintain calendar and ensure the company is in compliance with timely filings.

Keep abreast of tax law changes, research impact on Loparex companies, advise management as to recommended actions to minimize tax risks. For Section 385 inbound company deductibility of intercompany interest, attended seminars and webinars, researched the legislative impacts on our company, and befriended an OFII official who informs me of legislative changes real time. Inform management of upcoming documentation requirements for intercompany loans.

Informed management of the new FBAR filing requirements starting April 2017 for all years up through and including 2016 for companies that have US citizens as employees with signature authority over foreign corporate bank accounts. Advised management to address this compliance risk.

Coordinate the global finance team for allocating responsibilities on the upcoming documentation re quirements for the new BEPS documentation requirements.

Researched and presented results highlighting a high risk tax treatment adopted by the company. Discussed my tax research and raised ongoing questions regarding tax advice with the PWC partner and senior management.

Financial reporting responsibilities include monthly and annual GAAP accounting close for the Loparex USA LLC holding company.

Calculate depreciation, capitalize CIP projects, record fixed asset disposals, and report all capital projects comprising Loparex LLC’s $55m of fixed assets net book value.

Generate annual budgets for capital spending, depreciation, amortization, intercompany interest, tax, cash and the USA holding company. Loparex LLC has 3 manufacturing facilities in the USA as well as the headquarters location. Perform budgeting by plant location as well as for the company overall. Cost method used for recording capital projects.

Documented and continuously update all Treasury procedures. Published for access by VP of Finance.

Monitor intercompany debt. Remit international intercompany interest timely by wire. Record IFRS bank fees amortization expense against the debt liability balances.

Research financial information needed for our Netherlands’ parent company to calculate group costs and management fees allocated to the USA from abroad.

Built the beginning balance sheet for the new Loparex USA LLC, months after the company was purchased. Proposed the calculations and strategies to our Netherlands’ parent company management for this complex project, since adjustments were made over several months after the acquisition. Beginning balance sheet was required in the initial Federal Form 1120 income tax filing.

Advised global finance management how to impair a $3.1m internally developed software fixed asset, after the decision to move to an off-the-shelf ERP system was finalized.

Business consultant role at Loparex, beyond my position responsibilities. As an internal business advisor, seek out and recommend new product ideas to VP of Research & Development. Brainstorm new industries into which Loparex can sell, to grow our revenue top line.

Advise management regarding issues during current transition of a change to our corporate bank.

Retirement Accounting Supervisor. NC Department of State Treasurer. 2013-2015:

Responsible for financial reporting for $100 billion in assets for the North Carolina retirement systems, including the statewide 401k.

Supervised monthly and annual financial reporting for 9 retirement plans, including 7 pension plans, disability, and death benefits.

Managed 2 staff. Designed and led motivational, mentoring meetings. Recruited and trained a finance temp to later hire her to thrive on our finance team.

Supervised monthly accounting close. Over $5 billion in annual payroll to retirees, disabled members, and death benefit beneficiaries. Prepared payroll tax remittances and all payroll tax filings separately for each of the 9 retirement systems.

Trained staff in a visual, fun way to understand debits and credits of cash accounts, as they vary in the financial records from both personal check book nomenclature from banks as well as the debits and credits in insurance companies.

Leader in annual reconciliation project between the retirement systems’ detailed retirees’ database with financial reported statements.

Responsible for drafting retirement 25 pages of the NC Comprehensive Annual Report (CAFR). Drafted 5 pages of the CAFR for North Carolina State Health Plan.

Award of Excellence from Janet Cowell, North Carolina’s elected State Treasurer.

Certified Public Accountant for local CPA firms and closely held businesses. 1995-2013:

Watson + Davis, Cary NC. 2013. Prepared corporate income tax and high-wealth individual income tax federal and state returns. Prepared corporate tax Forms W-2 and W-3 for annual employee wage reporting. Researched and prepared contractor Forms 1099 tax forms.

Anthony F. Armento, CPA. Durham NC. 2009-2012. Prepared corporate income, sales, and payroll tax returns. Provided accounting write-up and consultation services. Processed payroll, including remitting taxes due. Mentored a client to schedule time for himself during the week to avoid burnout and closing his business. Maintained a satisfied customer and a going concern client for the supervising CPA partner.

Researched all 50 states’ tax rulings on the need for online companies to collect sales tax for online sales.

Glenn Spell, CPA. Chapel Hill NC. 2008. Prepared individual income tax filings for federal and states.

Tax and financial records prepared and managed for closely held family businesses. 1995-2012. Two companies were computer consulting and products C-corporations, Bottlenose Enterprises Inc. and Giant Shoulder Inc. One company was a gift shipping business, Fun Breaks Inc. Authored a related self-help book “Fun Breaks”. Established the tax ID’s and set up C-corporation status for all companies. Established corporate bank accounts. Prepared all accounting records. Created all corporate financial statements. Created the corporate, marketing logo for the Giant Shoulder Inc. product line. Filed all federal and state income tax returns. Dissolved all companies.

Senior Budget Financial Analyst + Internal Auditor. Hughes Network Systems, Inc. MD. 1989-1995:

Subsidiary of Fortune 100-company, Hughes Aircraft Company.

Responsible for nationwide budget preparation and consolidations. Created monthly financial reporting package. Initiated nationwide internal audit function.

Senior Auditor. CPA. Big-4. Deloitte + Touche. Washington DC. 1986-1989:

Promoted to Senior Auditor of Emerging Business Services. Led nationwide, Cystic Fibrosis Foundation nonprofit, 50-state audit project. Consolidated, including eliminations, the 50 separate state audits into one nationwide audit report.

Clients spanned Colonial Circuits, a circuit board manufacturer, and other Beltway Bandits. Also, I audited the DC chapter of the March of Dimes, the Independent Petroleum Association of America, Veterans of Foreign Wars Political Action Committee, and more.

Supervised 6 staff auditors. Led motivational team building activities with staff.

Prepared the corporate income tax returns for audit clients.


Certified Public Accountant. CPA. Currently licensed in NC. License 35609. 40 hours of continuing education annually.

University of Maryland. MBA semester. GPA 4.0. Self-financed. Outward Bound leader. 1993.

University of Pittsburgh. BS in Management + Accounting. GPA 4.0. Self-financed. Volunteer Income Tax Assistance leader. 1986.

Software + New Learning:

Oracle SAP, Oracle Hyperion, Microsoft Office, Microsoft Dynamics, Prism, QDMS, various tax preparation software, State of North

Carolina custom systems. Fast typist, organized, multitask, respect deadlines. Motivational leader. Enthusiastic team member.


Running, healthful cooking, fit lifestyle.

Master Mind business advisory group idea contributor.

Accredited personal investor. Research companies for investment.

Volunteer in classrooms, theater, and sporting events.

Jury foreman while on jury duty in Orange County, NC.

Travel, movies, books.

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