PAUL E. KOLESAR
Mooresville, NC 28117 Cell 704-***-****
To seek a challenging Credit Risk Management/Collection position that will utilize my education and experience in a capacity that offers growth and advancement.
General ledger journal entry processing
Financial accounting reconciliations
Economic forecasting (Budgeting)
ISO Certified Auditor
Ad hoc special project analysis and reporting
UCC and Letter of Credit Filings
Cost benefit analysis
Cost accounting-tracking and reporting costs
Accounting Principals, Mooresville, NC – Consultant Accountant (Masco). 4/19 to Present
Responsible for various tasks for two business units including: prepare standard and accrual journal entries, approve and post journal entries, GL closing, reconciliations, financial statement preparation and reporting.
Ingersoll Rand, Industrial Technologies, Davidson, NC – Credit & Collection Manager 09/13 to 3/19
Provide leadership, coaching and direction to a collection team of 7 to meet company established AR goals. Average monthly A/R - $87M on 9,000 account balances. Since 2013 sales volume has increased from $43M a month to the current level of $87M a month. Collection area covers 35 business centers – U.S. (32) and Canada (3).
Lead for margin improvement projects which converted 5,655 customers from receiving invoices by the U.S postal service to receive all new invoices via e-mail saving $396,288 during the last 4 years.
Instrumental in developing our departments MDI collection board. This visual management tool helped to identify process improvements and develop solutions to achieve results and received the Corporate President’s Award in Sept 2018 for Operational Excellence.
Manage third party collections.
Ensure that relationships are built with both external customers and internal staff to ensure that corporate collection and cash flow objectives are achieved. These include DSO, % current, % past due, and collection efficiency.
Support the timely resolution of disputes as well as evaluating current procedures and implementing process improvements both within the credit department and related groups.
Evaluate team performance and implement training and development plans to continually improve performance. Creation of several job aids and standard work for a variety of processes.
Enable the culture of prompt pay by making cultural and structural changes.
Tabulate several reports including: A/R performance, disputes, paid on account cash, several MDI reports/charts, and load all collections metrics into the Hyperion Financial System.
Proactively identify the root causes, either internally or externally that cause customers not to pay IR on time. Formulate plans to resolve these issues and implement policies and procedures that will drive improvements. Worked on the following RIE/9 steps projects: tax, pricing, incorrect billing, returned statements, paid on account balances, electronic invoicing, credit limits.
Collaborate with Customer Centers Operations to identify areas for front end invoicing improvements. Help lead initiatives within Customer Centers that will result in improved processes.
Develop A/R collection strategy for collection prioritization. Wrote standard work and implement/audited standard work for collection and undisputed over 60 processes. Traffic Light report.
Continually improve and develop a cohesive communication process, both within the team and to external customers. Establish standard collection communication.
Work with cross sector credit organizations to identify best practices and implement where it is warranted. Credit authority per individual transaction $500M.
Handle all HR actions for the team including payroll and PMP performance evaluations.
Ingersoll Rand, Industrial Technologies, Davidson, NC – Senior Credit Representative 05/07 to 9/13
Credit and Collections activities performed on the following portfolios - Direct Centac, Rotary, Distributor, Energy, TFM, and Customer Center portfolios with the total balance between $15M to $28M a month.
Assured targeted collection efficiency and cash collection goals were achieved. Major duties included contacting customers to facilitate payment and resolved any disputed items to receive payment and to perform credit reviews. Properly managed the holds reports to effectively achieve results. Account receivables balances included complete engineered orders on progress payments, service, preventative contracts, and compressor and parts orders. Processed letter of credits and modifications for purchase order in assigned portfolio to properly manage the risk to IR.
Reconciled complete orders and facilitated the issuance of credits to adjust the ledger and assure cash was applied correctly. Analyzed ledger reports to effectively manage assigned portfolios.
Partnered with and provided customer service to both internal and external customers to resolve any and all issues to tactfully and timely resolve issues to release payments and or the issuance of credits to clear the balance. Coached and led collections issues to resolve centac disputes and PO issues. Determined root cause of disputes and took preventative actions to mitigate future issues in the future. Assisted Senior leaders and all sector groups to address both high-level policy issues and low-level invoice issues.
Achieved lowest past due % for the sector 5.57%.
Significantly improved the metrics on the Distributor portfolio – partnered with the owners and controllers to build a culture of open communication which included timely payment and notification of all disputed items that will go past due. Past due % was decreased from 9% to 1%.
Decreased the number of past due over 60 invoices for the TFM portfolio from 1,000 invoices to 300 within one year.
Completed several formal credit reviews which included calculating ratios and analysis and recommended credit limits.
Prepared and conducted dispute meetings for the Direct & Rotary portfolio. Decreased disputes by 38% from 2009 to 2010.
Exceeded the 75% collection efficiency goal 7 of the 12 months in 2010 for the direct portfolio. The 75% goal was last achieved in 2006.
Reported dollars over 60 days decreased 20.06% from 2008 to 2009 and decreased an additional 52.89% for 2010 for the direct portfolio.
Reported dollars over 360 days decreased 45% from 2009 to 2010 for the direct portfolio.
Performed formal credit line reviews and financial analysis to mitigate risks on selected direct, strategic, and rotary, energy, customer center orders and all distributor accounts.
Participated in Black Belt Project concerning the direct portfolio.
Worked with cross sector credit departments to uniformly address company holds when warranted.
Suggested best practices to the Global Inventory planning manager for ITS to implement progress payments. Due to these suggestions cash flow increased by $1,000,000 for TCS Italy during the first quarter.
Provided ITS department leadership with strategic, tactical, organization, and staffing recommendations to improve structural processes and allocate resources to increase efficiency and productivity due to allocation of scare resources.
Ingersoll Rand, Construction Technologies, Davidson, NC – Area Credit Analyst 7/05 to 5/07
Assisted the Area Credit Manager to assure the collection efficiency remains over 90% for the assigned regions. Major duties included contacting customers for payment and resolving any issue/dispute that would prevent payment.
Collected on a portfolio that averaged $50MM and processed notes receivables up to 5 years in terms.
Collaborated and partnered with the following groups: Customer, Sales, Factory, Customer Service, and Accounts Receivable.
Received a certificate of accomplishment by decreasing portfolio DSO by 10 days in one year.
Led contact for all aspects of the purchase of Tramac Company. Duties included the set up of all accounts and accounting details as needed, and performed credit investigations to manage the business risk. Current trade and bank references and D & B reports were obtained.
Performed financial reviews when needed and perform analysis to determine credit worthiness.
Assured UCC filings are valid and up to date for all distributors.
Nominated for the Ingersoll Rands Presidents award.
Weinig Group, Mooresville, NC - Machine Order Processor/Accounts Receivable Specialist 7/04 to 7/05
Processed purchase orders to assure conformity with machine applications and configurations. Calculated the preliminary commission report and the total cost of the machine including all modifications and technical adjustments.
Performed collection activities on the entire company portfolio. At year end decreased all A/R balances over 60 days from $3M to under $1M.
Interacted with leasing companies to obtain deposits and payments on future orders and open balances.
Universal Electric Corporation, Canonsburg, PA – Credit & Collections Manager 11/99 to 5/04
Established and maintained the Credit and Collection function.
Negotiated favorable payment terms with some current vendors which were not previously available. Utilized collection software to increase cash flow and communication with the sales staff concerning delinquent customers.
Led a group to improve the freight claim process which led to the redesign of our related product and packaging to minimize future claims which decreased past due invoices.
Developed minimum standards for credit limits based upon various Dun & Bradstreet attributes and payment history and automated the credit review process for all 4,200 accounts.
Set up 350 + new accounts a year.
Negotiated and set up all payment arrangements on large purchase orders and all customers who were in Chapter 11.
Coordinated all letters of credit transactions when necessary.
Utilized the Export/Import Bank insurance of the United States to conduct business overseas.
Decreased the A/R balance 65% for all dollars over 60 days.
Decreased the average days to get paid from 64 to 42.
Annually bid out and administered the company’s health, dental, and disability plans.
University of Pittsburgh, Pittsburgh, PA - Accountant III – General Accounting 8/98 to 11/99
Performed various General Accounting, budgeting, and cost functions.
Managed the University overhead program and performed all reconciliations and journal entries in Oracle.
Performed all year end accrual & deferral Oracle journal entries.
Setup and performed all Oracle standard recurring journal entries.
Back up to other department staff to reconcile 18 different bank accounts.
Responsible for monthly and year end closing on numerous general ledger accounts.
Coordinated & recorded physical inventory for various University Departments.
Completed the summary of lease revenue and expense schedule.
Organized and documented the flow of recurring accounting projects to improve efficiency.
Developed and created discover oracle reports to answer ad hoc inquires.
Maintained and developed various tuition models that are used to budget and forecast tuition revenue.
Completed various special incentive budget programs which included the regional incentive program, net tuition, and the cost tuition allocation study. Investigate and research both cost and budget variances to explain the difference.
Compiled the responsibility center planning books for the University of Pittsburgh.
University of Pittsburgh, Pittsburgh, PA - Accountant III – Payroll/Tax 3/94 to 8/98
Assisted two administrators in performing special payroll and tax related projects. Prepared special analysis and reports as required. Tax – University Tax Return (990,990T, 5500). Paid all property, amusement, parking and sales tax.
Documented and completed the annual vacation and sick leave accrual for perform all processes including the final oracle journal entry.
Reconciled and audited monthly fringe benefit costs and perform several oracle roll up journal entries to record all costs.
Calculated the cost of goods sold schedule for all bookstores.
Special Projects – Yearly performed special fringe benefit cost analysis and various ad hoc projects.
Data mining several software sources to organize and analyze the information to complete ad hoc projects.
Utilized SQL and Discovery to write reports to complete hundreds of ad hoc questions and projects.
Promoted from Accountant II to Accountant III.
Allegheny County Controllers Office, Pittsburgh, PA - Internal Auditor 1/90 to 3/94
Developed and followed various types of audit programs on a variety of different projects.
Developed and completed various internal control questionnaires, narratives, and flow charted several processes.
Coordinated & recorded physical inventory for four regional skilled nursing facilities simultaneously.
Tests include bank reconciliation’s, substantive and compliance tests, tests of cash, and several payroll audits.
Developed a standard payroll audit and lead a team to train the trainer to effective audit 20 county payroll processes.
Performed analytical reviews on various processes & accounts. Identified problems and recommended solutions.
Performed efficiency reviews, MAS services and assisted external auditors with their general audit of Allegheny County.
Assisted Public Auditor with several substantive tests.
Passed Auditing and Business Law for the CPA.
SYSTEMS & SOFTWARE: Oracle, MFG Pro, Great Plains, AS400, JD Edwards, MS Office suite (Word, Excel, Outlook, Access, PowerPoint, Windows 95 and XP), goldmine collection software.
University of Phoenix, Charlotte NC MBA Business Administration, GPA 3.85
Robert Morris College, Pittsburgh PA Accounting Certificate
West Virginia University, Morgantown WV B. S. Business Administration