Paul G. Renn
CONTROLLER/DIRECTOR OF FINANCE
CPA - Australia
With comprehensive experience in
Financial and Consolidated Reporting (US GAAP and IFRS requirements) - US, Canada and Asia Pacific.
Company start-up experience
Cash forecasting and long term finance control
Sarbanes Oxley Audit and Compliance – US, Canada, UK, Europe, Africa, Middle East, Asia Pacific
IT Systems Implementation
Costing Estimates and Operational budgeting
Financial project management
Full Budget Forecast Preparation – O&G, manufacturing and aviation.
IFRS Standards – IFRS 1 through to 17
CSOX (Canadian Compliance)
PROFESSIONAL EXPERIENCE AND SKILLS
My experience as a controller/finance director encompasses a broad spectrum, from privately owned local businesses to publically-owned international corporations in manufacturing, Aviation MRO plus oil and gas exploration. My experience as an international controller comes from extensive work experience in the US, Canada, Europe, the Asia Pacific region and Middle East, with proven hands on management style in the development and implementation of corporate plans and core values to foster and ensure company growth.
I strive to promote an atmosphere of high level team spirit and professional standards that encourage other professionals to balance maximum production with attainable goals. Experienced in MS applications, SAP, AS400, CODA, Quick Books Enterprise Accounting, Hyperion, Quantum ERP and other PC based accounting packages.
Coastal and Cabinetry LLC
June 2018 to present
I have been engaged to review the internal processes of the company covering all functions from sales, manufacturing, purchasing and all financial reporting to IRS report submission. In addition, I am also reviewing and sourcing a new Inventory system that can be fully utilized to allow direct interface to Quickbooks and provide a real time manufacturing WIP status.
Other areas of process review are:
Vendor pricing and sourcing
Payroll management and Sales Commission structure
Reconciliation processes for warranty and defective materials claims.
Creation of a Budget process and forecast financial model
Creation of a daily Cash management report process for long range cash forecasting
Review of financial incumbencies and other long term liabilities
Stone Interiors LLC
July 2017 to April 2018
My function as Controller was to implement new financial operations systems, introduce departmental accountability and bring all financial reporting up to date and prepare the internal systems to be of a standard that is satisfactory to the company lenders. The on-going specific responsibilities were:
Detailed cash management inclusive of cash analysis forecasting for both long and short asset based financing.
Preparation of all financial reporting using the Stone Profits system to year end final accounts for LLC operations.
AR and AP management.
Preparation of the annual budget and annual cash forecasts using self-developed financial models in Excel plus specific schedules for actual vs. budget comparatives.
Aero – mark MRO LLC dba Certified Aviation Services – Component Maintenance
July 2014 to April 2017
Director of Finance:
As Director of Finance I was responsible for the ongoing secure financial management of a re-developing aircraft component maintenance company. The company had two operations, one based in Fairhope, AL and the other in Ontario, CA. The operations of the company are in two distinct categories:
1) Maintenance, Repair and overhaul of individual aircraft component, specializing in hydraulics and pneumatics. Plus design and manufacture of upgrade components in older piston engine aircraft.
2) Provision of “on-tarmac” repairs to all types of commercial aircraft, both in the U.S. and international locations. Specific responsibilities include:
Preparation of all financial reports (Quick Books) to annual accounts for LLC operations.
Long term cash management and debt re-structure.
Daily reporting to general manager and president on cash position, AR and AP management, sales estimates for current month, job specific margins, WIP and current Inventory levels.
Liaise with current financial institution on weekly availability of LOC funding.
Weekly analysis of WIP and job cost margins.
Supervision of domestic and international Invoicing and collections.
Southern Cross Management Services LLC
June 2013 to July 2014
This was my personal LLC business which provided management accounting services/controller functions for small to medium size businesses in the Mobile, Daphne, Fairhope and gulf coast areas. My major assignment was with a restructuring franchising business which franchised fast-response home and commercial roofing and building repair or replacement caused by storm damage and /or catastrophic weather events. The owner of the franchise entity operation decided to sell the operation to a Dallas-based construction company in June of 2014. I worked with this company in completing the sale of the franchise and the transfer of the financial management and assets from Foley, AL to Dallas, TX.
Tesla Exploration Inc. - formerly Tesla – Conquest Inc. /Conquest Seismic Services Inc. March 2008 to June 2013
A division of Tesla Exploration Ltd. (Canada)
Controller/Assistant Company Secretary – United States
Controller and Assistant Secretary for the US entity of a Canadian-based multinational corporation.
The US division was a $50 mil operation covering 2D, 3D, 3C seismic data acquisition surveys for an extensive US and international client base covering the requirements of oil and gas exploration along with mining applications in precious metals. The position was the senior management of U.S. financial systems and procedures. I also provided daily, weekly, monthly financial analysis of project costs, cost/revenue margins for US Operations VP and procedural advice to non-accounting management. Other functions include:
Manage and control the effective production of monthly, quarterly and annual corporate financial reporting (US, Canadian GAAP and as of 2012 – reporting in IFRS standards) plus provide detailed analysis of same, highlighting changes in trends, ratios, cost movements and comparative to financial plan
Provide leadership and management in the setup of the US accounting and administrative systems, incorporating Quick books Enterprise and specialist software for Bid/costing proposals combining financial statistics with Geophysical data
Establish and maintain an effective and productive relationship with US banking providers and equipment leasing companies
Implementation and control Job Cost reporting system
Prepare in depth comparatives of Bid to Actual for US seismic programs
Prepare all federal, state and county tax (usage) returns as required by law
Prepare and obtain all federal, state and county security bonds require for seismic operations
Complete all Withholding and other tax requirements for foreign employees working in US
Regularly review and provide detailed analysis of operational field expenses, third party
contractor costs and G&A to President – US, VP – US, VP – Exploration (US), Corporate CFO and where deemed required, direct to Crew Managers
Liaise with CSOX auditors, review all documentation and test internal systems for compliance with CSOX and SOX 404 requirements.
Regularly review finance and leasing contracts against current market conditions to ensure
a continuous economical and beneficial terms and rates.
Cash management for effective AR and AP process flow,
Co-ordinate change management of merger process in US and complete the merger of US
entities into single operating unit as Tesla Exploration Inc.
Successful cost reduction process of $12.0M in operating costs during 2009
Implementation of system change from Quick Books to Deltek AMRVision with additional modules outside of Vision.
Diamond Wire Technology October 2006 to March 2008
Colorado Springs, Colorado
This was a newly created role with an expanding diamond wire and saw manufacturer to set up the company’s financial reporting and other management systems to cater for the expected doubling of growth each year over the subsequent 24 months and transform its production to a predominantly export based output. Along with the Controller financial functions, conduct a comprehensive strategic analysis for potential new export market development.
Preparation of monthly/quarterly/annual financial statements-GAAP standards using Peachtree Quantum
Liaise with external auditors on corporate filings and raising of equity capital
Development of in-house cost control systems for manufacturing, inventory and material management
Asset Management and Capital expansion
Budget preparation and financial modeling
International letters of credit and foreign credit management (Taiwan, Korea, Japan, Switzerland, China)
Preparation of all foreign sales, finance, export and terms of payment documentation
Detailed Cash Management, Cash Analysis Forecasting and Long term and Asset Based Financing
Foreign Debtors certification for Asset Based lending
Robert Half International – Consulting Division March 2006 to September 2006
Gordon Sign - Denver, Colorado
Controller/Director – Finance and Administration
This was a contract position to re-establish financial management and statutory reporting schedules for corporate compliance. Plus develop cash flow management to reduce delays in accounts receivable (AR) and payable. Conduct an analysis of the existing IT system with recommendations for process improvement. Evaluation of current staff levels, HR functions and general administration.
All monthly and quarterly accounting processes including revenue recognition
Completion of 2005 annual accounts for consolidation and submission to SEC
In house management of AS 400 system
Returning AR collections to prescribed budget levels and above
January 2006 to March 2006 – Completing Permanent Residence (Green Card) process, my Green Card was issued March 21st 2006. I obtained my U.S. citizenship on December 18th, 2015 and continue to hold dual citizenship with Australia.
Hughes Christensen – a Division of Baker Hughes August 1997 to December 2005
Compliance Accountant / Auditor: Sarbanes Oxley 404 regulations – Corporate Office – The Woodlands, Texas January 2005 to December 2005
Provide development and documentation of Primary and Key controls in the financial and operational systems of company’s worldwide locations.
Development of testing processes and plans for US and worldwide locations to include Canada, UK, South Africa, Indonesia, Malaysia, Italy, Norway, UAE, Oman, Singapore, Vietnam, Thailand
Testing of manufacturing systems – SOX 404
Testing of inventory controls – SOX 404
Audit testing of controls, review of non-compliant processes and re-testing as required
District Accountant/Administrator/Financial Analyst – Australasia and South East Asia – Perth, Australia
August 1997 to December 2004
All financial reporting in U.S GAAP or IFRS as required plus individual country requirements for Australia, New Zealand, Indonesia, Papua New Guinea and Singapore. Direct and monitor internal FCPA compliance and the implementation of Sarbanes Oxley 404 system modules in Australasia and South East Asia. Project cost management (Consignment equipment) – oil field related for Australia, New Zealand and Indonesia.
Internal audit and FCPA compliance
Management of Customs and importing requirements for oil /gas drilling equipment
Staff supervision – Australia, Indonesia and Singapore
Financial reporting and Cost analysis
SAP Logistics control (inventory and importing)
Foreign exchange (hedging as required), international payments
Monthly and Annual accounting (GAAP) – multiple countries, Statutory accounts as required
SAP configuration and operation of finance, inventory, revenue modules
Establishment of administration/manual systems for Australia, New Zealand, Indonesia, Philippines and Papua New Guinea
EDUCATION / SPECIALIZED TRAINING / COMPUTER SKILLS / PROFESSIONAL AFFILIATIONS
B.A. degree: Accounting – Caulfield Institute of Technology – Australia
Diploma: Computing – Caulfield Institute of Technology – Australia
Australian National Institute of Accountants – Certification program
CPA – Australia
Mining Industrial Relations Course
Member - Institute of Internal Auditors (USA)
Corporate training courses in TQM, Legal and Contract Compliance, Oil and Gas well financial modeling, cultural and language studies – Indonesia, Malaysia
Confidential references in the US, Canada and Australia can be provided on request.