Management Accounting
Resume:
MICHAEL A. PODJASEK MBA, CPA
Park Ridge, Illinois 60068
847-***-**** Cell 847-***-****
***************@***.***
A results driven Chief Financial Officer experienced in all facets of managing accounting and financial activities, strategic business planning and budgeting, standard cost accounting, acquisitions and divestitures, capital investment, international operations, transfer pricing, cash management, bank relations, Risk Management, IT and Human Resource management, and internal controls, with “Big Four” accounting background and significant managerial experience. A consistent contributor to continual improvements in profitability, cost saving and gross margin growth through strategic business planning, accurate and timely variance analysis and reporting, and improved operations.
PROFESSIONAL EXPERIENCE
Interim CFO Positions
CMF Associates 2017 – Present
Consultants to Private Equity Companies
Assignments include Interim CFO, process review and recommending new ERP software
Wav Inc. 2016 - 2017
A $90M distributor of WI –FI and related equipment
Chief Financial Officer - Interim
Responsibilities include cash management, banking, budgeting, forecasting, insurance, credit and collections, and accounting management.
United Flexible, Inc. 2015 - 2016
Private Equity owned $100M International manufacturer of industrial hose located in the US, Sweden, UK and Holland
Chief Financial Officer
Responsibilities included management of International cash management, banking, budgeting, forecasting, insurance, acquisition integration, and the management of the International finance operations
Reported financial results using International US GAAP consolidated financial statements.
Created quarterly Board meeting presentation packets reporting financial and operating results.
Established budgets for each location enabling measurement of financial targets.
Forecasted cash flow and income tax payments at each International location.
Established KPI’s at each location allowing measurements of financial and operating results.
Calculated Bank Covenants and forecasted minimum EBITDA levels and maximum Leverage Ratios to assure compliance to Bank Covenants.
Standardized accounting policies for Capital spending and International intercompany payments.
Initiated Gross Margin improvement process for major Customers improving operating results.
Implemented internal tracking of engineering projects to start R & D tax credit savings.
MICHAEL A. PODJASEK PAGE TWO
National Metalwares L.P. 2013 – 2015
A $60M Private Equity owned metal fabricator with manufacturing locations in Illinois and China
Chief Financial Officer
Responsibilities included cash flow management, banking, budgeting, insurance, health benefits, 401(k) plan management, and IT and accounting management.
Reconfigured the ERP system to provide accurate data by customer such as Gross Margin.
Updated standard costs and reallocated overhead to properly value job costs and inventory.
Reorganized the accounting department through simplification, elimination and automation resulting in publishing financial statements in 6 days and becoming a proactive business partner.
Developed pricing models to improve the quoting process. Completed customer rationalization procedures to increase profits.
Completed budgets, rolling forecasts of profitability and cash that improved cash management.
Developed metrics and KPI’s to measure and drive the business
IDENTCO International Corporation 2010 - 2013
A $50M international high tech label designer and manufacturer with operations in Hong Kong, Germany, Mexico and the United States.
Chief Financial Officer
Responsibilities included international cash flow management, banking, budgeting, insurance, health benefits, 401(k) plan management and IT, Human Resources and accounting management.
Set up accounting operations for the startup operations in Hong Kong.
Increased Gross Margin 8% points through cost analysis and process improvement.
Managed cash flow in all locations identifying locations with excess cash that could be used to internally finance other worldwide locations.
Recapitalized the Senior Debt facility bringing in SBA and Bank financing to expand the business. Used cash flow financing to finance new ERP software.
Saved $500K in taxes by enacting strategies in R & D, IC DISC and cost segregation.
Acted as Project Manager to replace ERP software in the Cloud for all International locations. Standardized accounting policies and procedures.
Completed all due diligence activities for the company’s first acquisition.
CFO Consultant 2009 –2010
Assignments utilizing CFO expertise
IDENTCO International Corporation February 2010 - March 2010
Created budgets, managed cash flow, managed the accounting department.
The Stonegate Group, LTD October 2009 – January 2010
Assisted the work-out group in the sale of a bankrupt company by publishing corrected financial statements and forecasted financial results.
Managed cash flow to enable the purchase of raw material for production.
Created budgets and costing rates that enabled aggressive quoting to win new business.
MICHAEL A. PODJASEK PAGE THREE
WOZNIAK INDUSTRIES, INC. 2004 – 2009
An International, $150 million manufacturer of forged, stamped and machined steel parts for the agriculture, construction and oil and gas industries.
Chief Financial Officer
Responsibilities included acquisition analysis, bank relations, cash management, planning and budgeting, IT management, insurance, health benefit plan, 401(k) plan and pension plan management, shareholder tax planning and deferred compensation plan management and credit and collections.
Analyzed acquisitions for fit, profitability and cash flow potential while reviewing purchase agreements, coordinating due diligence and obtaining bank financing for the purchase.
Set up a machining division obtaining $3M equipment financing. Analyzed, recommended and implemented a cost accounting and operating system on schedule and under budget.
Moved bank relationship to a new bank lowering interest costs, increasing credit availability and improving the cash management system. Raised $18 million in capital equipment financing.
Created forecasts such as Flash, Dashboards, and quarterly reviews which led to improved profitability, cash flow and debt level forecasts.
Increased Gross Margin by over 400 basis points by using ABC costing techniques. Improved DSO from 53 to 44 days and improved Inventory Turns from 4.5 to 9.9 times a year improving cash flow.
Reduced workers compensation claims by 30% by creating and implementing a safety program, a claims review process and a back to work program.
Changed 401(k) providers improving employee participation, moved health benefits to self insurance reducing costs by $500K and created an executive benefit program for shareholders and key employees. Terminated a pension plan, limiting the unfunded liability to $150K.
Changed audit firms reducing costs and increasing services to shareholders. Created a Foreign Sales DISC saving over $200K in taxes the first year. Started an internal audit function improving internal controls.
WARNER CANDY COMPANY 2003 to 2004
A $16 million candy and novelty manufacturer and distributor.
Controller
Responsibilities included accounts receivable, accounts payable, financial reporting, loan compliance reporting, payroll, Human Resources, benefit administration, Customer Service supervision and IT management.
Set up Great Plains Dynamics ERP system to fully integrate order entry, shipping, billing and collections, and costing, production and inventory.
MICHAEL A. PODJASEK PAGE FOUR
WARNER CANDY COMPANY Continued
Designed a reporting structure that measured sales and gross margin performance by customer and product which facilitated the management of the sales effort and profitability improvement.
FIVE CONTINENTS, LTD. 2001 to 2003
An International, $65 million ethnic food importer and grocery store retailer.
Senior Vice President of Finance
Responsibilities included bank relations, acquisitions, cash management, bank relations, IT management, planning and budgeting, financial reporting, credit and collections, payroll, and insurance.
Coordinated the due diligence process and contract reviews that resulted in the acquisition of a $5M and a $15M ethnic food distributor.
Reviewed leases for new stores obtaining favorable terms. Created and managed a $2.5M capital budget for new stores. Wrote cash procedures and created a store operations manual improving internal controls.
Selected and managed a $200K installation of a POS system and a Host system that recorded daily transactions, maintained inventory levels and provided headquarters with information to track performance at store level.
THE COLMAN GROUP, INC. 1994 to 2001
An International, $70 million manufacturer and dealer network distributor with 5 manufacturing plants and a distribution center in England.
Chief Financial Officer and Vice President of Finance
Responsibilities included bank relations, acquisitions and divestitures, international cash management, bank loan compliance, IT management, planning and budgeting, general accounting, cost accounting,
financial reporting, credit and collections, payroll, fleet management, benefit administration and insurance.
Coordinated the due diligence efforts supporting the acquisition of a $20M company. Led all internal
efforts in the divestiture of non-strategic divisions.
Secured $10M acquisition financing and $5M construction financing at below Prime for plant consolidation and renegotiated the bank agreement reducing fees by 30%, raising eligible collateral by $600K and increasing the working capital line.
Organized all functions to provide financial and operational information to match new ownership, management and bank reporting requirements and installed an ERP business system with an EIS reporting system. Created P & L’s improving profit by product line and profit by customer.
Moved Health Insurance to a self insured environment saving $300K and installed the Ceridian Human Resource and Payroll Information System improving personnel and benefit record keeping and reporting and 401(k) plan administration.
MICHAEL A. PODJASEK PAGE FIVE
EARLIER BUSINESS EXPERIENCE
GLOBE GLASS & MIRROR, INC. - Controller 1990 - 1994
OHM ELECTRONICS - Controller 1989 - 1990
COTTER & COMPANY (True Value) - Distribution Accounting Manager 1980 - 1989
RESINOID ENGINEERING – Accounting Supervisor 1978 - 1980
ERNST & YOUNG – Staff Auditor 1977 - 1978
SOFTWARE
ERP Systems: NetSuite, Microsoft Great Plains Dynamics, Microsoft AX, Fourth Shift, Visual, Work Wise, EPICOR Vantage. MACOLA, EFI, MAPICS,. Advanced Microsoft Office skills.
EDUCATION
MBA, Financial Management, Loyola University, 1982
BS, Accountancy, Northern Illinois University, 1977 CPA, State of Illinois, 1978
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