Jay C. King, CTP

Austin, TX *****

acwd42@r.postjobfree.com

737-***-****

COVER LETTER:

I came across your posting and would appreciate your review of my resume. I have spent my career using Finance to improve operations for several large complex global companies ensuring the entire range of Finance, Accounting, and Treasury responsibilities are completed timely and accurately. Having worked in the Corporate HQ for these companies, I have had the responsibility of improving key functions (my titled areas); but also being heavily involved as a team lead or support resource in resolving critical business issues arising from operations, logistics, sales, HR, or finance. I have always been one of the key leaders entrusted to work with sales and operational management to evaluate, quantify, and propose workable solutions to their toughest problems. Finally, my roles have required the ability to formally present the strengths and challenges of a company to both internal parties (employees, executive management, Board of Directors) and external parties (bankers, creditors, rating agencies, insurers, investors, etc.) and to engage in critical contract discussion and negotiation, as well as in-depth involvement in M&A activities. I am known for tactical planning to improve today’s results, while strategically planning out 1, 3, and 5 years to see what will be needed to ensure growth.

PROFILE SKILLS:

Strong Corporate Finance, Treasury, Accounting, Tax, and General Administration skills including financial planning and analysis, financial statement preparation and review, budgeting, risk identification and corrective action, global cash flow forecasting, capital structure, capital markets and borrowing activity, project finance, rating agency interaction, bank relationships, securitizations, foreign currency hedging, commodity hedging, interest rate hedging, trade finance, investments, pension investments, corporate insurance and risk management, investor relations, audit, SOX compliance, accounting controls and policies, tax planning, GAAP, IAS, IFRS, margin and variance trend analysis, FP&A, KPI’s, metrics, business development analysis, mergers and acquisitions due diligence/valuation, and integration, ISDA and contract negotiation, process improvement, cost integration, SAP, Oracle/Hyperion, policy and procedure oversight, human resources support, employee coaching, strong teamwork and collaboration, strategic and tactical planning, SWOT analysis, enterprise risk management

CAREER EXPERIENCE

Short-Term Consulting (interim CFO duties, business valuation, etc) Project work since 01/2016

Wilsonart LLC – Austin, TX 09/2013 – 11/2015

VP Finance, Treasurer

Joined the Executive team of a $1.2 billion pre-IPO private-equity start-up global laminate manufacturer to build and run the finance and operating infrastructure. Executive team worked in a collaborative “everyone takes a piece” project-share format, with specific areas of key responsibility. Company is the global market-leader selling into 75 countries from North America, Europe, and Asia operations.

Treasury & Corporate Finance: Built the Global Treasury strategy and function (bank relationships, cash management, cash flow forecasting, negotiated debt borrowings, capital budgeting, trade finance, foreign exchange, intercompany loan administration, netting, derivative accounting, etc.) while cutting bank footprint 35% (annual savings $140K). Administered the complex leveraged master debt agreement (borrowing, compliance management, filings, amendment, etc.). Led working capital efforts to improve DSO and DPO by a combined $30 million. Oversaw many aspects of the HQ office administration. Led movements to electronic data capture, a shared-service accounting center, and better use of payment technologies. Developed and began sourcing post-IPO financing and credit consortium.

Financial Reporting & Analysis: Performed review and analysis of financial statements each period. Conducted trend analysis on operational results against budget, forecast and prior years. Initiated questions on operational underperformance to understand root causes and design mitigation planning. Assisted with developing and refining FP&A reports, forecasts, and KPI metrics to assist sales and operations. Key contributor to the quarter and year-end financial reporting decks used for Board of Director reporting, MD&A disclosures. Prepared the periodic debt compliance reporting for the master credit agreement. Created a financial database of peer company financial performance for business development use.

General Accounting & Audit: Team responsibility for preparing, reviewing and ensuring accurate accounting records and controls. Took over and resolved long-standing intercompany accounting issues. Assisted with implementation of Oracle Hyperion Financial Management (HFM) to consolidate 11 ERP systems. Investigated and assisted in developing company’s position on technical GAAP accounting issues. Reviewed accounting procedures against policy and suggested procedural improvements, automation opportunities, and improved controls. Completed SOX audit and modeling for my functions.

Risk Management and Insurance: Established the Risk Management and Insurance function. Adjusted policy coverage levels to reflect real risk. Published claims manual. Improved broker-service model. Evaluated captive insurance program. Reduced open-claims and litigation backlog. Improved employee safety while reducing program costs $300K. Instituted risk identification system and corrective action governance matrix.

Investor Relations: Created the Investor Relations function. Led Rating Agency interaction. Established and scripted quarterly calls with investors. Answered all investor inquiries. Prepared a draft S1 and pitch book.

M&A and Strategic Planning: Led due diligence effort on international targets; provided financial valuation and review assistance for smaller acquisitions and targets; arranged financing for closed deals; provided integration planning and assistance as needed. Worked with Business Development to develop sales market depth assessments, valuation models, timelines, SWOT risk profiles, potential funding methods, etc.

Tax: Joint-ownership of all strategic tax decisions on a global basis. Enhanced our Luxco finance structure and re-deployed capital across Europe and Asia in a highly tax-efficient manner. Assumed staff mentor role with the Corporate Tax team with the departure of the VP, Tax.

Retirement Plans: Re-focused a struggling Trustee committee by joining and overseeing the investment portfolio and providing fiduciary management oversight for all global retirement plans ($900Mil in assets).

Sonoco Products Company – Hartsville, SC 07/2002 – 09/2013

Assistant Treasurer

Directed Treasury strategy and Finance functions for a $5 billion publicly-traded global consumer and industrial packaging company selling into 85 countries with 300+ global locations. Self-generated ideas and process improvements created an average of $12 million in bottom line savings each year.

Global Liquidity: All global Treasury operations, cash management (optimum balancing, efficient funds flow, cash pools, forecasting, netting, intercompany loans, supply chain finance, payments, etc), capital markets activity, cash flow forecasting, local debt levels and compliance, and cash management policies and procedures and internal controls.

Financial Risk: All financial hedging activities, including SFAS 133/ASC 815/IAS 39 derivative hedge accounting and Dodd-Frank compliance, for annual programs of $2 billion in foreign currency exposure; $150 million in commodity hedges (energy, metals, plastics, fuel, and OCC), and interest rate hedging. Complete familiarity with hedging strategies and tools.

Capital Structure & Acquisition Financings: Oversaw tax-efficient capital and liquidity structuring of foreign subsidiaries, including periodic funds repatriation. Arranged pan-European EUR 350 million acquisition financing, and financings for various expansions (Brazil, China, Spain, Poland, Greece, and Italy). Performed sales market depth assessments, acquisition due diligence, valuation, and integration, Executed periodic U.S. capital market operations. Managed all banking relationships. Instituted a global cash flow forecasting system. Streamlined international treasury functions. Evaluated all types of debt instruments and project financing vehicles, placing what management approved.

Operational Risk: Member of Corporate Risk Management Committee overseeing enterprise risk management. Led full-scope reviews of sourcing, usage, price/cost recovery, and risk mitigation for critical components within a highly integrated production flow. Worked with global business unit leaders to understand and address areas of strategic, operational, environmental, and financial risk. Formally presented to Executive Management and the Board of Directors. Served as CFO’s liaison to divisional management.

Financial Reporting & Accounting: Provided support to both corporate and divisional level accounting and operational teams to ensure their data was reliable and timely. Assisted with MD&A. Evaluated GAAP and IFRS pronouncements as to how would impact internal operations and consolidated reporting. Provided trend analysis and oversight into underperforming or high-risk areas of operations.

Pension Investment Management: Directed investment and fiduciary management for $2 billion in various global retirement plans (defined benefit, defined contribution, etc). Improved performance from 4th quartile to 2nd quartile. Introduced LDI risk reduction activities for retirement plans. Heavily involved with plan design and administration issues. Served as Trustee on multiple plans globally.

Thomas & Betts Corporation – Memphis, TN 2000 – 2002

Assistant Treasurer

Joined and directed all Treasury strategy and functions for a $1.5 billion publicly traded premier global electrical component manufacturer in the resurrection/turnaround stages of a major corporate restructuring.

Global Working Capital & Capital Structure Improvement:

Directed all working capital initiatives as cash flow turned from negative $40 million per quarter to a positive cash generation at the operating level. Implemented a global cash flow forecasting and accountability model. Instituted a new Foreign Exchange currency hedging program to eliminate multi-million dollar losses. Completed three complex leveraged capital refinancings to ensure $200 million in backup liquidity (A/R securitization and two asset-backed lending facilities). Established policies and procedures and internal controls for Treasury and Risk Management that had lapsed. Directed and performed valuation assessments and operational analysis for divesting under-performing units.

Corporate Risk/Insurance Management:

Oversaw Global Corporate Insurance and Risk Management activities. Established understandable cost-of-risk allocation methods. Launched a multi-year project to address business interruption risk at each key manufacturing location. Improved EH&S scores and reduced audit site findings globally.

Financial Reporting & Accounting: Provided trend analysis against forecast on operating unit results. Developed financial models on how efficiency gains would impact earnings, leverage, cash flow, etc. Provided investigative support and modeling to accounting and audit as requested. Some tax strategies.

Pension Investment Management:

Responsible for oversight of pension and retirement plan investment managers, performance and allocation.

Smith & Nephew, Inc. – Memphis, TN 1993 – 2000

Treasury Manager, North American Region (1994 – 2000)

Various Treasury positions for a $2 billion publicly traded global healthcare manufacturer overseeing cash management and forecasting, Borrowing, Investing, FX hedging, Bank relationship management, E-Commerce.

Financial Accountant (1993 – 1994)

Financial reporting, FP&A and trend analysis, accounts payable, budgeting, and converted legacy systems to new platforms (BPCS and SAP).

Witco Corporation, Humko Division – Memphis, TN 1990 – 1993

Head Cost Accountant

Head Cost Accountant for world’s 2nd largest oleo-chemical refinery plant. Computerized the manual standard cost accounting system. Created fully integrated cost model for conceptual world-class manufacturing system.

Agrolinz, Inc. – Memphis, TN 1989 – 1990

Staff Accountant – Agricultural chemical manufacturer

EDUCATION:

B.B.A. in Finance & Economics – Christian Brothers University, Memphis, TN May 1989

Minors in Management, Management Information Systems (GPA 3.67/4.0)

PROFESSIONAL DEVELOPMENT:

June 1996 – Gained Certified Treasury Professional (CTP) Certification - Active

April 2006 – Distinguished “Dream Team” Corporate award for Homeland Repatriation efforts

May 2008 – Graduated “Next-Gen” 4-year leadership program for Sonoco

February 2011 – Elected to P&I Investment Advisory Panel (Pension/Retirement Plan)

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