Steven M. Tonkel

*** ******* ***** ******, ** ***41 606-***-**** acue49@r.postjobfree.com

Professional

Skills

corporate strategy

corporate finance

cash flow management

balanced scorecard

key performance indices

risk mitigation/insurance

GAAP financial preparation

SOX/internal controls

product cost estimating

merger and acquisition

board interaction

ERP migration

margin enhancement

tax optimization/strategy

information technology

manufacturing improvement

profit planning/budgeting

human resource/benefit plan

purchasing/negotiating

supply chain

inventory control

cost accounting

business valuation

banking relationships

Experience

Chief Financial Officer, Treasurer and Vice President of Finance 2013 - 2016

CTA Acoustics, Inc., Corbin, Kentucky Revenue $120 million

Private equity Tier 1 automotive supplier of engineered acoustic and thermal insulation products.

Promoted to position. Responsible for financial planning, treasury, risk management, information technology, human resources, and purchasing.

Developed lines of credit, leasing, and notes payable instruments through banking and equity firm finance arrangements. Developed broad banking partners to increase capital in line with company growth and productivity initiatives.

Lead site selection and engaged economic development for opening of a new manufacturing facility. Site opened ahead of schedule with favorable grant and tax incentives.

Facilitated labor relations drive to maintain a union free site. Successfully obtained votes in favor of the company from a union organization election.

Fostered Toyota Production System methodology into operations. Resulted in year-over-year increase of operating margin by two basis points.

Initiated supplier and materials development. Oversaw material yield improvements of 20 percent from both engineered and supplier provided products.

Negotiated favorable self-insured medical plan reinsurance and designed consumer driven health plans resulting in shared savings to both employees and company.

Corporate Controller 2007 - 2013

CTA Acoustics, Inc., Corbin, Kentucky

Responsible for financial planning, audited financial statements, insurance management, treasury, cost estimating, and cost reduction initiatives.

Initiated operating turnaround of plant, implemented daily shift metrics reporting and required all cost improvement projects to follow Six Sigma process. Over four years the operations executed $2.5 million annual year over year cost improvements

Directed due diligence, purchase agreement, and transaction for the divestiture of a related company. Negotiated favorable transaction costs from post-sale date adjustments

Implemented manufacturing capacity and planning models to facilitate plant utilization. Modelling enabled profits to be maintained during extreme automotive industry downturn cycle in 2008/2009 and uplift through current cycle.

Reduced cost and rigors for audit and preparation of annual financial report by aligning company staff with audit firm staff.

Enhanced retirement benefits through restructuring of pension and 401(k) savings plans.

Optimized tax opportunities on national, state, and local levels. Coordinated company participation in Kentucky Economic Development Finance Authority and Kentucky Rural Economic Development Act programs.

Manufacturing Controller, Director of Accounting 2005 - 2007

Jeffboat, LLC., (Division of American Commercial Lines,) Jeffersonville, Indiana Revenue $300 million

Public manufacturer of river barges and ocean tankers at the largest inland shipyard in the world.

Transferred accounting processes from headquarters and started up on-site finance department and systems for division. Responsible for improvement of cash flow position, projects cost reporting, return on investment from capital expenditures, and time to close and report monthly financial results.

Developed strategy and forecasting tools to achieve 7 percent year-over-year cost reductions. Deployed operating metrics and Six Sigma continuous improvement methodology.

Implemented Sarbanes-Oxley section 404 compliance controls and procedures. Facilitated revenue recognition guidelines and stages of production cost valuations.

Created SEC reports and board of directors’ presentations.

Oversaw capital projects increasing manufacturing capability by fifty percent.

Business Unit Operations and Financial Systems Controller 2004 - 2005

Johnson Controls, Inc., Plymouth, Michigan Revenue $22 billion

Public Tier 1 automotive supplier of seating and interior systems.

Promoted to position. Lead margin analysis, operating cost reductions, internal controls, and operating planning for Ford and Nissan Business Unit within Automotive Group of JCI with $2.5 billion in annual sales from shipments of seating systems. Responsibility and title also included Controller of North America Financial Systems and Reporting.

Achieved $9 million in total annual operating cost reductions

Consolidated operating results and forecasting for seven locations. Coordinate financial initiatives and reporting with plant controllers and plant management. Present results and forecasting to Automotive Group Operations leadership and Business Unit Commercial team.

Created and maintained uniform Hyperion retrieve operating reports and indices for 35 North American seating plants. Established equivalent unit scoreboards to drive continuous improvement. Comparison of plant performance using equivalent units allows for identification of best practices at specific locations.

Facilitate Sarbanes-Oxley sec. 404 compliance within plants and Business Unit.

Plant Controller 2001 - 2004

Johnson Controls, Inc., Shelbyville, Kentucky

Managed manufacturing cost and revenue reporting for $400 million seat systems plant.

Initiated operating turnaround of plant. Implemented daily shift metrics reporting and required all cost improvement projects to follow Six Sigma process. Over four years the plant executed $2.5 million annual year over year cost improvements

Directed Six Sigma teams to improve supply chain logistics and warehouse storage. Resulted in reducing rented warehouse storage area by 40 percent and consolidation of inbound freight moves. Annual inbound freight cost savings greater than $1M.

Implemented MS-Excel plant forecasting model. Utilized visual basic programming to develop uniform model to use at 35 JIT seating plants.

Develop and monitor profit plans and forecasts and advises management of the monthly performance.

Responsible for the preparation of closing statements and review reconciliation of all balance sheet and inter-company accounts. Improved close from six to three days.

Cost Accounting Supervisor 1997 - 2001

Link-Belt Construction Equipment Company, Lexington, Kentucky Revenue $300 million

Private equity manufacturer and retail of heavy construction equipment.

Coordinate and control customer billing, sales recognition, and gross margin reporting.

Present monthly results of inventory turns, wastes, shrinkages, and product mix. Facilitate management team responsible for improving working capital by maximizing inventory turns and minimizing write-offs in changing market conditions

Establish budgeted labor and absorption rates within a complex multi-plant manufacturing environment. Production departments include fabrication, robotic centers, assembly, and service parts distribution

Maintain standard costs of inventory using process, job, and sales configuration methods. Track finished goods inventory on-site and at multiple port locations.

Created system to recognize gain or loss on currency exchange from imported assemblies and materials. Monitor hedging and exchange sharing agreements.

Implemented Balanced Scorecard measurement and reporting. Track key manufacturing measurements against targets which support quality, delivery, and customer service

Lead several system conversion and process re-engineering teams. Converted service parts distribution system to company’s manufacturing sales order and shipping system. Developed new service parts sales and gross margin analysis reports. Re-engineered return-to-vendor recovery system

Divested product line to joint venture. Designed and maintained accounting for joint venture. Developed inter-company procedures for sales and transfers to joint venture

Cost Accountant 1996 - 1997

Signet Systems, Inc. (Division of Modine), Harrodsburg, Kentucky Revenue $120 million

Public Tier 1 automotive supplier of automotive climate control systems.

Managed manufacturing variance reporting, consolidating reporting, advanced product quality process team, production and labor planning, and annual business plan.

Designed and implemented an activity based cost management system to drive margin enhancement opportunities. Showed allocation of conversion costs to cost centers, product lines, and end-items sold.

Senior Corporate Accountant 1989 - 1995

Magna Graphic, Inc., Lexington, Kentucky Revenue $35 million Family owned

Maintained internal control of financial information including closing, analysis, and financial statement preparation. Re-engineered job costing, estimating, and pricing systems resulting in an increase of revenue due to improved pricing of products.

Education

Master of Business Administration

Eastern Kentucky University, Richmond, Kentucky

December 1994

Bachelor of Science, Accounting

University of Kentucky, Lexington, Kentucky

December 1988

Certification

Certified Public Accountant

Kentucky Certificate #7117

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