Earnings Improvement Financial Analysis Accounting Treasury
Resume:
Thomas H. Lowery 469-***-****
**** ********* *****, *******, ** 75089 **********@*****.***
Vice President of Finance/Treasury Chief Financial Officer
Highly accomplished, results-driven senior accounting and financial management executive with more than 20 years experience within diverse, multi-location entities. Demonstrated ability to increase efficiency and bottom-line profit. Possesses strong leadership, communication and interpersonal skills to establish rapport with all levels of staff and management.
FITCORP USA INC, Carrollton, TX 6/2014 – Current
Accountant (part-time)
Prepare and analyze daily cash flow forecast. Utilize such information to effectively manage the company’s liquidity.
Prepare and distribute management reports on key performance metrics for 17 stores.
Prepare and distribute reports on accounts receivable aging.
Assist in preparation of annual budget
Reconcile general ledger accounts.
Animas Credit Union, Farmington, NM 3/2013 – 11/30/13
Chief Financial Officer Early Retirement
Significantly improved relationship between the company and regulators during my tenure.
Headed a team that recommended earnings improvements of more than $1 million to the CEO, then worked with CEO and other managers on their implementation. Such analysis included profitability of a branch location.
Responsible for Accounting, Payroll, Accounts Payable, and Employee Benefits functions. Managed two professionals.
Prepared monthly, quarterly and annual financial statements. Prepared analysis of actual results to prior period and budget, and presented results to CEO and Board. Timing of finished product was improved during my tenure by 3-5 business days.
Prepared annual budget, working with other managers for their input. Presented budget and related analysis to CEO and Board. Analyzed related earnings forecast and made recommendations to top management and the Board that resulted in earnings improvements of at least $1.2 million per year.
Analyzed internal controls and ensured appropriate controls were in place. Reviewed company assets to ensure they were properly accounted for and safeguarded from loss; then ensured they remained under appropriate control.
Met with/advised the CEO monthly regarding pricing of loans and deposits related to market conditions, earnings goals and exposure to changes in market interest rates.
Prepared scenarios regarding the company’s exposure to changes in market interest rates, and presented results and analysis to the CEO and Board.
Managed investment securities portfolio of $20 million within regulatory and company policy. Successfully purchased securities for profitability, liquidity and interest rate risk purposes.
Prepared and implemented policies and procedures regarding investments, liquidity and interest rate risk.
Texell Credit Union, Temple, TX 4/2012 – 12/2012
Vice President-Finance and Administration
Responsible for Accounting, Payroll, Accounts Payable, Human Resources, Information Technology, Collections and Credit Card Payment Systems functions. Managed eleven professionals.
Significantly improved collections results regarding the repossession and disposition of vehicles during my tenure.
Prepared monthly, quarterly and annual financial statements. Prepared analysis of actual results to prior period and budget, and presented results to CEO and Board.
Met with/advised the CEO monthly regarding pricing of loans and deposits related to market conditions, earnings goals and exposure to changes in market interest rates.
Prepared scenarios regarding the company’s exposure to changes in market interest rates, and presented results and analysis to the CEO and Board.
Managed investment securities portfolio of $8 million within regulatory and company policy. Successfully purchased securities for profitability, liquidity and interest rate risk purposes.
Prepared and implemented policies and procedures regarding investments, liquidity and interest rate risk.
United Central Bank, Garland, TX 10/2009 – 4/2012
Senior Vice President-Finance/Treasury
Managed investment securities portfolio of $190 million within regulatory and company parameters. Purchased and sold securities for profitability, liquidity and interest rate risk purposes. Sold securities and recognized gains of $2.6 million. No losses.
Prepared monthly profitability reports by branch (29 locations), and presented results to senior management and the Board. Ranked branches by key performance factors, and worked with other members of management to recommend and implement related earnings improvements of more than $2 million.
Implemented cash flow forecasting and related cash management. Utilized such information to effectively manage the company’s liquidity, as well as optimize the level of investment securities and borrowed funds, which resulted in increased earnings.
Managed and nurtured correspondent bank relationships regarding lines of credit and brokered CDs.
Met with/advised the CEO monthly regarding pricing of loans and deposits related to market conditions, earnings goals and exposure to changes in market interest rates.
Prepared scenarios regarding the company’s exposure to changes in market interest rates, and presented results and analysis to the CEO and Board. Lead project team that brought this process in-house, at recommendation of regulators, instead of utilizing a third party.
Managed and directed a staff of four professionals.
American National Bank of Texas, Terrell, TX 6/2006 – 3/2009
Senior Vice President-Finance/Treasury
Designed and implemented a loan pricing model which optimized net interest margin and achieved growth objectives within interest rate risk guidelines. Resulted in increasing net interest margin by at least 20 basis points ($2.4 million annual earnings), and implemented the process and philosophy of identifying the value of the overall customer relationship. Focused on obtaining a target required return on equity at the customer relationship level.
Prepared bids and managed collateral and pricing on relationships with approximately 70 public fund entities with average deposit balances of $200 million. Increased profitability of public fund line of business by $2.0 million in one year, by identifying all components of cost and revenue, and negotiating contracts with a required profit margin.
Performed ongoing analysis of the company’s exposure to interest rate risk, including net interest income projections and net economic value under various interest rate scenarios, utilizing the Sendero Asset-Liability model. Recommended and implemented strategies that increased earnings as much as $2 million per year without exceeding required level of interest rate risk.
Managed investment securities portfolio of $500 million within regulatory and company parameters. Purchased and sold securities for profitability, liquidity and interest rate risk purposes. Sold securities and recognized gains of $650 thousand; no losses.
Responsible for pricing of deposit products, to maximize net interest margin and achieve growth objectives within interest rate risk guidelines. In one year, the cost of the company’s interest-bearing deposits decreased 13% more than the benchmark market interest rate; while the absolute level of interest-bearing deposits increased. Worked with sales, marketing and operational personnel to accomplish this goal.
Managed and nurtured correspondent bank relationships regarding lines of credit and brokered CDs.
Met with/advised the CEO weekly regarding pricing of loans and deposits related to market conditions, earnings goals and exposure to changes in market interest rates.
Managed and directed staff of five professionals.
Redwood Credit Union, Santa Rosa, CA 7/2005 – 6/2006
Senior Vice President-Finance/Treasury
Prepared monthly, quarterly and annual financial statements for management, external auditors and regulators. Financial statements were prepared at the business unit level, as well as for total company. Timing of finished product was improved during my tenure to the second business day (total company) and fifth business day (all business units). Performed monthly actual vs. budget variance analysis by business unit, and presented to management and Board.
Worked with other managers to prepare annual business plan and budget for all business units within the company. Analyzed related earnings forecast and made recommendations to top management and the Board that resulted in earnings improvements of at least $1.5 million per year.
Performed ad hoc financial/profitability analyses on existing and proposed new business units and products. Earnings improvement from these analyses was at least $1.0 million.
Implemented cash flow forecasting and related cash flow management. Utilized such information to effectively manage the company’s liquidity, as well as optimize the level of investment securities and borrowed funds, which increased earnings.
Performed quarterly peer group analysis that highlighted strengths as well as areas needing improvement. Such information was used to help improve the company’s earnings and return on equity.
Worked with Top Management and Business Unit Managers to identify key performance indicators (KPI’s), then tracked, reported and analyzed such indicators. Resulted in providing early warning tool as well as a tool to help make necessary adjustments to keep forecasts on track.
Managed accounting, accounts payable, wire transfer and payroll functions. Managed and directed a staff of seven professionals.
Self-Employed Consultant, Bryan, TX 10/2003 – 6/2005
Analyzed existing leases on trucks and equipment, then coordinated early buyout of leases and purchase of related assets, which resulted in improved earnings of $500,000.
Analyzed outside payroll processors and reduced annual cost of payroll process by $100,000.
Performed analysis of interest rate swap alternatives, and recommended option that saved the company at least $300,000.
Performed analysis of potential acquisition candidate for a manufacturing company.
Working with managers in a manufacturing company, prepared the annual budget, by location and by product within each location. Presented results to owners.
First American Bank, Bryan, TX 10/1992 – 9/2003
Senior Vice President-Finance/Treasury
Built and implemented a business unit profitability reporting system within a diverse, division-based entity, which resulted in improved earnings from decisions regarding the most advantageous allocation of the company’s resources. Such reporting system identified earnings and return on required capital for each business unit, utilizing match-funding funds transfer pricing and allocation of expenses from support areas to revenue-producing areas. Utilization of information from this system, coupled with management’s philosophy to manage each department/business unit based on profit contribution and ROE, resulted in earnings improvement of at least $2 million in the first year, and at least $1 million in the second year.
Responsible for preparation, analysis and presentation of annual business plan and budget for all business units within the company (75 business units; 60 locations). Analyzed related earnings forecast and made recommendations resulting in improved earnings of at least $2 million per year. Presented to Top Management and Board.
Performed staffing analysis on branch locations that resulted in improved customer service and a $200 thousand earnings improvement.
Managed investment securities portfolio of $300 million within regulatory and company parameters. Purchased and sold securities for profitability, liquidity and interest rate risk purposes. Never had losses on securities sales.
Worked with mortgage, consumer and commercial lending personnel to set standard as well as exception pricing, to achieve growth objectives within interest rate risk parameters.
Managed and directed a staff of nine professionals.
Performed analyses of potential acquisition candidates.
Education University of South Carolina - Columbia, S.C.
B.S. Accounting
Contact this candidate