Financial Sales
Resume:
Joseph K. Frye Bensalem, PA ****0
215-***-**** (h)
267-***-**** (c)
***********@******.***
FINANCIAL/OPERATIONS MANAGEMENT
PROFESSIONAL PROFILE
Seasoned, creative Chief Financial Officer with additional broad exposure in Operating roles developing and implementing growth strategies and driving revenues and profits to new heights. In addition to traditional roles of responsibility for full financial reporting, banking relations, strategic and financial planning, human resources, purchasing and MIS, took on total Operating responsibility by first building an executive team, and then driving sales by first concentrating on existing markets and then niche markets and through pricing and technical support changes took market share from two large competitors and developed a lean manufacturing initiative which brought cost savings and additional capacity to reverse lost revenues and increase them by 25%, and profitability by 50%.
Prior demonstrated expertise in corporate roles as Vice President of Finance managing all financial relationships for a global company with several foreign subsidiaries. A tactician and strategic thinker that is equally skilled in a change management mode or when growth demands innovative financial planning and creative management to maximize cash flow and capital. Lives in Philadelphia metro area and free to travel and relocate as needed.
> P&L Responsibilities > Global Financial Initiatives > Organizational Development
> Cost Control/Containment > Marketing Strategies > Team Building > Mentoring SELECTED ACHIEVEMENTS
Reversed eroding margins due to increased competition and pricing pressures. Developed and implemented a plan to build alliances with key suppliers that changed material pricing, supply methods and raw material inventories. Included improved scheduling/forecasting to increase production run sizes that together led to a 25% margin increase within 6 months.
Developed new goals and action plans to increase cash flow and increase inventory turns. Developed new disciplines within the procurement department, initiated an incentive program for involved managers to improve inventory levels and turns. This resulted in an increase in inventory turns by 250% and provided more needed cash.
Raised needed cash for a new service business the company wanted to start that would add revenues in a stagnant market. Developed a 5 year forecast, presented the resources of the company to potential investors and banking institutions and developed a detailed presentation. Successful in obtaining bank financing without need to take on additional investors. The service business flourished and became a key revenue producer.
Built a highly skilled and successful management team made up of a few key senior executives and a cadre of middle managers adept in driving profits, sales and growth. Through training, mentoring and changing roles developed a cohesive team who could operate effectively in often changing environments. JOSEPH K. FRYE PAGE 2
Negotiated a refinancing package when the company was in a situation of static revenues. Developed banking relationships and secured needed capital to branch out to a completely different market. Through aggressive forecasting and developing internal goals pulled it off and generated ongoing revenue for the company. PROFESSIONAL EXPERIENCE
E. O. HABHEGGER CO., INC. YEADON, PA 2014 - PRESENT Distributor of Fuel Dispensing Equipment
Chief Financial Officer/ Controller
• Brought on board to bring all financial functions in house.
• Implement an accurate cash management reporting system
• Develop monthly financial reporting
• Establish relationship with banks and refinancing.
• Interact with insurance brokers/ companies
• Establish procedures to reconcile general ledger accounts with a focus on Inventories M COHEN AND SONS / THE IRON SHOP BROOMALL, PA 2011 - 2014 Largest manufacturer of spiral staircases and custom iron work (construction) Chief Financial Officer
• Brought on board as the company’s first CFO to bring all financial functions in house,
• Develop controls, cost reporting systems, purchasing policies and financial reporting,
• Establish relationship with banks and refinancing.
• Interact with insurance brokers/ companies
• Combine reporting systems for the manufacturing and construction systems because of shared resources
• Implement new software – accounting, purchasing and inventory – software was purchased prior to my coming on board. It is now being scrapped and a new fully integrated system is to be purchased
AMERICAN CABLE COMPANY PHILADELPHIA, PA 2007 - 2011 Manufacturer of battery cables and Wire Harnesses for the heavy equipment industry Chief Financial Officer
• Brought on board by the bank – American Cable was part the work
• out group. A company in financial difficulty. I was given the responsibility of turning the company around with the support of the bank and management. A complete overhaul of the cost system – cost recognition, rate and reporting.
• Vendor relations were repaired. Customer contracts were renegotiated or voided. By the fourth quarter of 2009 we turned a profit.
• In January 2010 our largest customer pulled their business
• February 2010 we filed for Chapter 11 protection – this brought on several months of negotiations and court appearances
• We emerged from bankruptcy in February 2011
BREEN COLOR CONCENTRATES LAMBERTVILLE, NJ 1998-2007 Global supplier of color and additives to the plastics industry Chief Financial Officer
• Provided the financial direction, implemented computerization and assisted in other acquisitions. Named President in 2003 to reverse declining sales due to a loss of 3 major accounts.
• Developed a strategic plan that including entering new markets, conducting a core competency and skills evaluation, driving sales and identifying other markets that would generate revenues and profits.
• Implemented performance measurements which were tied to company performance. Results included increase in inventory turns from 4 to 12 and reducing receivable days from 65 to 42.
JOSEPH K. FRYE PAGE 3
PHYSICAL ACOUSTICS CORPORATION PRINCETON, NJ 1988-1998 Worldwide manufacturer of computerized testing equipment with locations in US, UK, France Japan, Russia and Brazil
Vice President of Finance
• Provided Financial Management expertise to 8 subsidiaries, 4 overseas. Managed all corporate financial responsibilities including banking and foreign financial initiatives.
• Successfully implemented manufacturing and financial software
• Coordinated acquisitions in US, Brazil and Russia. CYBIS, INC. TRENTON, NJ 1984 - 1988
Manufacturer of high end porcelain sculptures
Vice President of Finance
• Managed total corporate financial responsibilities. Developed cost/pricing system which enabled the company to price more competitively and understand margins.
• Developed and negotiated supply agreements with the retail jewelry chains and negotiated purchasing contracts with critical suppliers. AMPCO – PITTSBURGH COPP.
BENSALEM, PA
1978 - 1984
Manufacturer of Non-Ferrous Castings and Forgings
Division Controller
• Responsibilities included financial reporting, cost control and cash management for three manufacturing facilities.
• Monitored direct cost reporting system
• Negotiated with vendors and scrap dealers
EDUCATION
DREXEL UNIVERSITY PHILADELPHIA, PA
Bachelor of Science (BS) Accounting
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