JOHN B. THIGPEN

*** **** **** **, *** G*, Asheville, NC 28806 828-***-**** Email: ac4axn@r.postjobfree.com

ACCOUNTING & FINANCE

EXECUTIVE SUMMARY

Expert in: Accounting ~ Financial Analysis~ Strategic Planning ~ Manufacturing

Seasoned manager with extensive experience in financial management and business leadership in diverse industries including manufacturing, business process outsourcing, distribution and public accounting. An expert in business planning and forecasting, budgeting, systems technology design and implementation, and keeping teams focused on increasing productivity and efficiency

CORE COMPETENCIES

Financial & Strategic Planning ~ Financial Statement Preparation ~ Forecasting & Budgeting ~ Financial Analysis

Working Capital Management ~ Cash Management ~ Bank Relationships ~ Audit & Compliance ~ Tax Reporting

Corporate & Personal Income Tax ~ Cost Accounting ~ Cost Reduction ~ Standard Costing

Payroll Systems~ Inventory Management ~ Manufacturing ~ Enterprise Resource Planning

Productivity & Performance Improvement ~ Team Development & Leadership ~ Policies & Procedures

EMPLOYMENT HISTORY

TEMPORARY ASSIGNMENTS September, 2015 - Present

TRINET SOI, Fort Mill, SC February, 2014 – August, 2015

Publicly Held Professional Employer Organization

Metrix Analyst

Analyze profitability by client, evaluate pricing adjustments, verifying accuracy of payroll system setups, preparation of monthly operations analysis.

JOHN THIGPEN CPA, LLC, / THIGPEN CONSULTING, Rock Hill, SC December, 2006 – December 2013

Privately owned accounting and consulting firm.

Accounting Practitioner

Provide accounting services to individuals and small businesses, including monthly accounting services, financial statement preparation, income tax preparation, payroll processing, business management consulting and financial planning. Worked with clients in real estate investing, property management, construction, wholesale and retail sales, restaurants and other lines of business.

Key Achievements

Oversee accounting and tax services for 100 businesses and 200 individuals in Rock Hill and Charlotte markets.

Won significant tax refunds for several clients through creative tax strategies.

CENTERCEDE SERVICES, INC, Charlotte, NC December, 2010 - December, 2011

Risk Management Services for Small Businesses.

Chief Financial Officer

Directed financial operations for small PEO and ASO service provider, including financial reporting and cash management. Undercapitalized company eventually filed Chapter 11 bankruptcy and converted to Chapter 7. Worked with bankruptcy attorneys and trustee to resolve claims against the estate.

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FRANKCRUM, Clearwater, FL November, 2005 – August, 2006

One of the largest Professional Employer Organizations in the U.S., with over $1.2 B in annual billings.

Chief Financial Officer

Directed accounting and finance, information technology and facilities functions for $1.2 billion Professional Employer Organization.

Key Achievements

Led the selection team for new enterprise software to replace 15-year-old legacy system, requiring attainment of buy-in from management team. The project eventually won Tampa Bay’s 2008 Quantum Leap award for Technology of the Year.

Reduced operating expenses over $400K annually through improved cash management system.

STRATEGIC OUTSOURCING, INC., Charlotte NC September, 1996 –October 2001

A large Professional Employer Organization, with over $1B in annual billings March, 2004 – October, 2005

Tax Director, 2004 – 2005

Vice President, Finance / Chief Financial Officer, 1996 – 2001

Hired as VP Finance/CFO of struggling PEO group on the brink of insolvency and executed turnaround and eventual growth to one of the ten largest PEO’s in the US. Dramatically accelerated collection of Accounts Receivable, restated prior financial statements, and installed new PEO payroll and accounting systems, and created forecasting models and tracking systems to obtain funding necessary for further growth. Created metrics for measuring client profitability and reducing Risk Management costs (including Workers Compensation and Health Insurance). Revised cash management system to facilitate nationwide expansion.

Recruited back to the company to implement MasterTax payroll tax management software for over 600 company and client payroll tax accounts. Managed domestic tax compliance obligations including preparation of federal and state income tax filings, estimated tax and extensions for 60 companies.

Key Achievements

Led financial transformation of company, including new financial and operational software systems, and tripled valuation of company in four years, resulting in a $45 million sale to a major financial institution.

Key participant in due diligence to raise $7.5 million venture capital investment.

PANTHEON GUITARS, LLC, Lewiston, ME November, 2001 – March, 2004

Small shop builder of high-end acoustic guitars.

Chief Financial Officer

Invested in and joined Company to manage the financial and operational structures of the company, including financial reporting, production scheduling, product line management, dealer relations and customer service. Doubled sales and production in less than two years by expanding dealer network. Assisted in designing products to reduce costs and increase gross margins by offering attractive and profitable upgrades. Successfully controlled inventory levels through careful purchasing and production planning.

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WISCASSETT MILLS COMPANY, Albemarle, NC April, 1992 – March, 1996

Vice President-Finance & Administration

Primary financial officer for $90-million yarn spinner, with responsibility for all financial, information systems, human resource and administrative functions.

Identified and disposed of division with unacceptable return on investment to free $5 million in working capital.

Reduced selling, general & administrative expenses by 25 percent.

Improved cash flow through reductions in accounts receivable levels of 35 percent and inventory levels of 60 percent.

Negotiated $35 million financing package at favorable terms.

BEACON MANUFACTURING COMPANY, Swannanoa, NC April, 1989 – March, 1992

Director of Financial Services

Managed 16 person accounting department for $100 million blanket manufacturer including financial reporting, accounts payable, payroll, inventory control, cost accounting, and budgeting.

Reduced inventory variances by 80 percent by identifying errors in product costing and accounting for waste.

Suggested product changes, which yielded annual cost savings of over 10 percent.

Identified unprofitable product lines to be discontinued.

Converted cost accounting system from mainframe batch system to MRP II software.

CHARLES D. OWEN MANUFACTURING COMPANY, Swannanoa, NC April 1980 – October 1987

Accounting Manager, Vice President - Finance

Chief financial officer for $40 million blanket manufacturer with responsibilities including financial statement preparation, general accounting, cost accounting, budgeting and cash flow projections, bank and factor relations, risk management, and data processing.

Negotiated term loan and revolving lines of credit to reduce overall cost of capital.

Computerized order entry, inventory control, general accounting and payroll systems.

Made numerous improvements to spreadsheet-based cost system to accurately reflect increasingly complex product lines.

MCGLADREY & PULLEN, CPA's, Asheville, NC January, 1978 – April, 1980

Senior Accountant

Directed audits of manufacturing, distributing, municipal, and savings & loan clients; prepared corporate and individual tax returns, directed observation of client physical inventories.

EDUCATION

BSBA, Accounting, UNIVERSITY OF NORTH CAROLINA, Chapel Hill, NC

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