Charles J. Novak Home 908-***-****

** ******* **** **** ****** 908-***-****

Lebanon, NJ 08833 acp3tv@r.postjobfree.com

Objective:

A proven problem solver in the field of Credit & Collections, seeking a challenging environment to apply my leadership, analytical, interpersonal skills and experiences to maximize shareholder value

Work History:

Avago Technologies Limited (Allentown, PA) – May, 2014 (LSI Acquisition Date) to May, 2015

Global Credit & Collections, Senior Manager – Responsible for the integration of the global Credit and Collections team and on-going LSI credit & collection duties

Global lead for LSI and Avago ERP integration and all billing, credit & collection related activities following the Avago acquisition of LSI

Designed and implemented the Avago Credit Process and Policy which streamlined non-valued added activities while reducing the credit risk of the existing customer portfolio

Designed and automated customer Credit Scoring Model to focus on higher credit risk customers. Developed advanced credit procedures and analysis for high risk customers

Championed customer payment term discrepancies with Avago Sales team and review of legal agreements to drive to a single customer payment term and maximize company cash flow

Implemented collection best practices resulting in the reduction of company past dues (less than 2.5%) and DSO (Days Sales Outstanding) to best in class standards

Analyzed customer portfolio for collectability issues and managed company specific and general bad debt reserves

Automated AR monthly cash forecast process to improve monthly forecast accuracy and maximize company cash flow

LSI Corporation (Allentown, PA) – April, 2006 (Agere Systems Acquisition Date) to May, 2014

Senior Manager, Treasury – Responsible for global Credit and Collections and Asset Management and Disposal. Supervised a global team of eleven individuals that accomplished the following:

Led integration of LSI and Agere Credit and Collection teams and selected to lead company Credit & Collections team

Collaborated with Customer Service to ensure accuracy of customer orders and automated global billings totaling ~$2.5 billion per annum. Managed customer manual credit and debit note and rebate process to remedy incorrect billings

Implemented global collection and credit processes and scoring model intended to offer credit and payment terms to company customers and improve cash collection cycle

Developed and implemented a business case process to evaluate and support customer extended payment term requests

Reduced company past due accounts significantly each quarter to less than 3%which resulted in reducing the AR DSO by 15 points within one year

Led company benchmarking activities with key companies to evaluate LSI AR performance against its key competitors. LSI had ranked in the top quartile for lowest DSO, Average Days to Pay and bad debt experience.

Designed, implemented and supported successful testing of Sarbanes-Oxley credit & collections controls with audit teams

Provided expert opinion on revenue recognition accounting issues to sales and business.

Recipient of company prestigious 2007 Corporate Values Award (Customer Commitment, Integrity, Team Building, Excellence) recognized by CEO for living corporate values

Member of the Billion Dollar Credit Forum with various Fortune 500 companies to discuss and benchmark various credit and collections issues and practices

Agere Systems Corporation (Allentown, PA) - March, 2001 to April, 2006

Credit & Collection, Manager – Responsible for global Credit & Collections activities at the company. Supervised a global team of ten individuals supporting the following activities.

Established and implemented Sarbanes compliant, company credit review process including credit scoring models and analysis, D&B report analysis, override requirements prior to acceptance of customer orders

Established and updated credit line limits and payment terms for both new and existing customer accounts with cycle time performance of 48 hours

Responsible for underwriting all customer credit limits up to $100 million, payment term overrides and customer revenue recognition issues

Utilized various instruments to mitigate difficult customer risks (i.e. Letters of Credit, Promissory Notes, Guarantees, pledged assets)

Communicate with Sales Organization or other functional areas collection strategy in accordance with company escalation policy

Reduced bad debt and uncollectible amounts (.02% of revenue) and past due less than 5% during tenure with top quartile DSOs versus industry competition

Responsible for company AR analysis and implemented AR forecasting and budgeting process with 99% accuracy

Lucent Technologies (Berkeley Heights, NJ) – June, 1996 to February, 2001

Business Unit Financial Analyst and Strategic Investments, Manager – Responsible for M&A and financial analysis, budgeting and forecasting, developing and maintaining industry benchmark model, BU Capital Governance and Manufacturing Joint Venture Planning and Implementation.

Developed and implemented Capital Governance Model which supported the approval and tracking of new capital investments in excess of $500 million per year

Planning and execution of $300 million of various financing transactions

Education:

Fairleigh Dickinson University

Master’s in Business Administration (Concentration in Finance)

Rutgers University

Bachelor of Arts – Business Administration (Concentration in Accounting); GPA 3.70

Other Skills:

Member of NACM (National Association of Credit Management), strong Microsoft Office (Word, Excel and PowerPoint) skills, working SAP & Oracle knowledge, excellent team building, problem solving and written and oral communication skills

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