Customer Service Vice President

DANIEL V. WALLACE

** ***** ****** *****: 508-***-****

Franklin, MA 02038 email: ***********@*****.***

SENIOR FINANCIAL MANAGEMENT

A proven track record in Senior Financial and Operational roles with full

P&L responsibility in both the private and public sectors. Extensive

experience with multi element revenue recognition, manufacturing and

service operations, inventory and costing, SEC reporting, multisite global

operations, bank and equity financing, FP&A, M&A, business restructuring,

audit/SOX, domestic and international tax accounting and compliance and

complex accounting transactions. A disciplined leader who has recruited,

built, trained, mentored and energized high-performance international teams

of 5-80 financial professionals and over 150 service professionals

worldwide.

COMPANY BACKGROUND

High Street Partners (Present)

LTX Credence Corporation

LTX Credence

Corporation

The PresMet Corporation

Smith Valve Corporation

Augat Inc.

Texas Instruments Inc.

Senior Advisor to the Executive Team

Vice President Global Customer Service

Vice President of Finance / PAO

Vice President Chief Financial Officer

Vice President CFO/Controller

Business Unit Controller

Business Unit Controller

KEY STRENGTHS

Financial Management Financial management experience in both public and

private companies with a broad financial "toolkit" and superior technical

skills. Focused on improving the "quote to cash" cycle. Experience

includes building an exceptionally strong balance sheet, managing cash

availability for growth, P&L management, international, strategic tax

management, compliance and audit (SOX, SEC), bank and equity financing and

operational and financial risk management.

Business Partner Financial expertise is enhanced by line operating

experience (VP of global services, $40M P&L), experience as a public

company officer and contributing executive team member. Experience includes

turnarounds, high growth, merger and acquisition, corporate realignment,

business and competitive analysis, a revolutionary product launch and

strong support of the sales, marketing, engineering and manufacturing

organizations.

Leadership and Management A disciplined leader who has recruited, built,

trained, mentored and energized high-performance international teams of 30-

90 financial professionals including CPA's, MBA's and over 200 service

professionals worldwide.

Problem Solving An incisive quantitative analyst able to quickly identify

profitability drivers, manage cyclical break-even and anticipate,

characterize, prevent and address critical business and financial

challenges.

Professional Profile Highly disciplined and responsible, able to set high

standards and drive results through a combination of strong interpersonal

and leadership skills, hard work, strong negotiating skills and a focused

drive for results.

PROFESSIONAL EXPERIENCE

High Street Partners Senior Advisor May 2013 -Present

Bedford, MA

A privately held financial and accounting services firm specializing in

assisting, setting up and supporting the clients overseas operations. My

role is a senior advisor to the executive team with a mission to

streamline operational efficiencies and processes in preparation for

continued growth. The company is experiencing rapid growth and I have

assisted the company prepare for growth in several areas including

technical accounting white papers on revenue recognition and identifying

and implementing process improvements in the quote to cash processes.

LTX Credence Corporation Vice President of Global Service 1998-2012

Norwood, MA Vice President of Finance / Principle Accounting Officer

Tasked with improving efficiencies and profit margins of the global

services organization ($40M revenue, 150 employees), a line management

position for the past two years after rebuilding, aligning for growth and

upgrading the financial organization (25 employees), for twelve years for

this $250M global (25 international subsidiaries), publicly-traded

company.

> Audit and Compliance Expert in multi element revenue transactions.

Implemented SOX controls and created audit function. Established cross-

training programs including global SOX training and revenue recognition,

significantly reduced outside audit expenses and created a compliance-

focused organization. Reduced the quarterly and annual SEC compliance

cycle by 50% by implementing process improvements and automation using

Oracle and SAP.

> Close, ERP and Audit Process Improvement Researched critical process

flows and established action plans to reduce close time from 45 days to 5

days. Cross-trained staff for flexibility, automated many manual tasks

via Oracle, SAP, Lotus Notes, etc., trained on GAAP for international

controllers, established a financial statement review process, etc.

> Financial Management Lowered the quarterly break-even point from $80M to

$35M in a highly cyclical industry. Identified cost-reduction

initiatives, set variable margin targets and fixed asset investments and

R&D spend by product. Developed and executed initiatives with the senior

executive team to align with significant product roadmap changes, lowered

finance costs, monetized idle fixed assets, shut down redundant

subsidiaries and consolidated other subsidiaries.

> Cash Management Addressed significant negative cash flow, lack of

inventory planning and sales forecast, supplier payment issues and bank

concerns. Established a cash management process with weekly meetings to

review 13-26 week rolling cash forecasts. In 1998 the company had $0

cash, significant cash burn and losses with $200 million in debt. Today

the company has $150 million in cash, a profitable business model and $0

debt.

> Refinancing Management Dealt with a high cost of capital and a weak

balance sheet. Paid down high interest rate equipment financing,

leadership role for two equity offerings totaling $198M, conducted a

$150M convertible debt offering, bought back subdebt at a significant

discount, reduced investment on low rate of return products.

> Merger and Acquisition M&A and liquidation experience ranging from $5

million to $400 million. Key contributor to successful acquisitions from

initial target activity, due diligence, planning and integration.

Provided financial analysis on the product roadmap and cost reductions,

and with the executive team identified and achieved synergy savings of

$140M.

> Global Service Process Improvements Addressed key escalations, response

time problems, profit and balance sheet metrics for customer service.

Developed 80 key 1-12 month objectives, conducted a competitive analysis,

developed a forward planning focus and introduced manufacturing

processes. Reduced daily escalations from 70-80 down to 0-3, insourced

board repair lowering cost by $5M. Improved gross profit from 15% to 40%.

The PresMet Corporation Vice President, Chief Financial Officer

1994-1998

Worcester, MA

Reported to the CEO/President of this $30M privately-held manufacturer of

precision metal components with a strong reporting line to the owner and

the board of directors. Directed all financial functions, corporate

financing, IT, tax, administration, process improvement projects,

purchasing and public relations. Evolved the company's financial reporting

to be consistent with a publicly-traded company. Established a modified

economic value added (EVA) concept for investment decisions. Developed

customer contribution margin and ROI model to drive strategic product and

customer roadmap change. Completed three debt-financing initiatives to

lower financing cost and increase credit lines available.

Prior experience as:

Vice President, Chief Financial Officer/VP, Corporate Controller at Smith

Valve Corporation

$70 million manufacturer of Valves used in Petroleum, Petrochemical and

Department of Defense. Significant inventory, cost and manufacturing

experience. Completed a major ERP conversion focused on manufacturing

enhancements

Business Unit Controller at Augat, Inc.

Start up Multi Layer Ceramic Semiconductor device manufacturer, business

sold to Cabot Corporation

$30 million Test Fixture manufacturer selling into the electronic hardware

and semiconductor test equipment industries

Business Unit Controller at Texas Instruments

$500 million manufacturer of clad materials sold into Automotive and

Semiconductor sectors

EDUCATION

BS, Accounting, high honors Bentley College Waltham, MA

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