Accounting Accounts Payable

NICHOLAS R. THOMPSON JR., CPA, MBA

386-***-**** - ***************@*****.*** - https://www.linkedin.com/in/nick-thompson-cpa

Chief Financial Officer – VP of Finance – Corporate Controller

Results-oriented financial executive, recognized for being a strategic thought leader who achieves outcomes collaboratively with his teams.

Professional Career History

TopBuild Corp(NYSE=BLD) Daytona Beach, FL – Subcontractor and Building Materials Distributor

Corporate Controller (Jul 2015 – Nov 2016) – TopBuild Corp and TruTeam, LLC - $1.6 Billion in Revenues

Responsible for daily accounting and finance functions, including General Ledger, AP, AR, inventory, consolidations, internal operational reporting, external SEC reporting and other key finance responsibilities (32 direct and indirect reports)

Developed and led financial reporting and corporate accounting team for publicly traded parent company, successfully issuing Form 10, 10 Q’s, 8-K’s and 10 K (NYSE ticker symbol = BLD).

Led successful organizational spin-off through development and execution of mission-critical finance and cross functional processes or establishing new departments.

Oversaw finance teams’ work with auditors (PwC) during spin off process of TopBuild Corp (spin off from Masco, NYSE ticker symbol = MAS) and prepared key technical write-ups (Stock Compensation and Goodwill assessment).

Responsible for accounting review and implementation of multiple software systems for newly created TopBuild Corp entity.

Select annual operating profit improvements driven at TopBuild Corp/TruTeam LLC include:

$1.0 million – annualized cost savings - optimized Accounting Department processes, systems and FTE

$1.1 million – annualized cost savings - optimized Accounts Payable Department processes, systems and FTE

$5.0 - 10.0 million – annualized operating profit contribution - Directed Operations Finance and Accounting Department processes supporting regional and division initiatives to drive operational excellence – Full Potential.

Business Unit Controller (Jan 2009 – Jul 2015) – TruTeam, LLC - $1.1 Billion in Revenues

Led Finance responsibilities related to turnaround: 1. Revenue Expansion – Line of Business Focus, 2. Direct Margin Expansion – Focus on Products of Excellence, and 3. Overheads – Location and FTE Rationalization.

Completed ERP Deployment and reviewed processes in all departments (A/P, Treasury, Inventory, General Ledger, Financial Reporting).

Responsible for daily accounting and finance functions, including General Ledger, AP, AR, inventory, consolidations, internal operational reporting, external SEC reporting and other key finance responsibilities (38 direct and indirect reports)

Oversaw consolidation of Canadian subsidiary and eventual liquidation and repatriation of value with tax department.

Reduced staffing levels based on process improvements, system implementation and team upgrades.

Established new operations finance support department, leading hiring and training. Team provides strategic financial support for regional operations leadership and root cause consulting for division management.

Developed continuous improvement culture, implemented new analytic and reporting tools and refined reporting processes.

Spin-off preparation

Executed contract due diligence steps for Spin Off.

Spearheaded development of new corporate departments and/or processes.

Established corporate accounting and external financial reporting department, including hiring staff.

CNL REAL ESTATE AND DEVELOPMENT- ORLANDO, FL – RESIDENTIAL DEVELOPER

Director of Accounting (Jul 2007 – Jan 2009)

Responsible for daily accounting (AR, AP, fixed assets, inventory, payroll, GL), financial reporting, financial information systems, budgeting, investor funding and financial planning and analysis functions.

Prepared consolidated financial statements and notes used by auditor for issuance with opinion.

Managed preparation and presentation of key analyzes including relative sales value calculations, economic models and debt covenant reviews.

Constructed and implemented direct cash flow statement within system architecture to support investor funding.

LENNAR HOMES - ORLANDO, FL – HOMEBUILDER

Division Controller (Mar 2006 – Jul 2007)

Responsible for daily accounting, accounts payable, financial reporting, budgeting, financial planning and analysis and home closing department functions.

Developed detailed forecasting process and tools used by Division President, VP of Construction and Sales Director, for inventory management and pricing of homes.

Developed and implemented benchmarks for measuring financial and operating performance of divisions and departments.

Partnered with key internal stakeholders to develop forecasting tools to support multiple divisions within region.

Presented quarterly results to CEO, COO and CFO at corporate office with regional leadership.

SOVEREIGN COMMUNITIES, LLC & THOMPSON & CO, LLC – ORLANDO, FL – CONSULTING SERVICES

Operating Manager (Feb 2004-Mar 2006)

Established two complementing businesses, in real estate consulting and public accounting expanding my breadth of business acumen, resourcefulness and ownership of outcomes.

Provided management consulting for Community Development District formation through third party consulting firm.

ARVIDA/THE ST. JOE COMPANY -BOCA RATON, FL/ORLANDO, FL - DEVELOPER AND HOMEBUILDER

Senior Accountant - Senior Reporting Analyst - Manager of Forecasting and Planning (Aug 1994-Feb 2004)

Performed acquisition due diligence, financial modeling and shareholder preferential return calculations.

Prepared and/or reviewed SEC reporting (10-Qs and 10-Ks) as well as private investor reporting.

Prepared or supervised and reviewed internal monthly financial statements, forecasts and annual budgets for development, construction and operating property functions.

Prepared or reviewed operating property accounting including commercial and retail office space and golf course operations.

Performed job cost accounting functions for land development and homebuilding to ensure proper recognition of costs and monitoring of variance from estimates.

PRIOR CAREER HISTORY:

Ernst & Young (May 1991- Dec 1992) and PriceWaterhouse (Jan 1993 – July 1994) – Audit/Assurance

Education Certifications Awards

Jacksonville University –Bachelor of Science – Accounting Magna Cum Laude – Dec 1989

Florida State University – Masters of Business Administration – Honors – May 1991

Certified Public Accountant – State of Florida

TruTeam Presidents’ Club Recipient for Outstanding Service – 2013 (FY 2012)

Masco Corp Finance – Finance Organization Drive for Results Award – 2014 (FY 2013)

Masco ELDP (Executive Leadership Development Program) – Apr 14 thru Nov 14

Strategy Summary

Nicholas R. Thompson, Jr. CPA, MBA

Business Transformation: Driving Shareholder Value

In January of 2009 I joined a business unit of Masco Corporation (ticker = MAS) known as TruTeam, LLC (formerly known as Masco Contractor Services, LLC). Our organization was one of several companies which made up the Installation Services segment of Masco Corporation. We were heavily reliant upon residential new construction, and as a result, we were losing significant funds due to the market down turn. Simultaneous with significant financial loses; we struggled with migrating from highly entrepreneurial, locally led branches, to being a series of connected locations, singularly owned by a publicly held parent. Finally, compounding the complexity was a problematic ERP implementation.

While there were many challeges facing TruTeam, the team was able to establish a path to profitability. The transformation of our business culminated in the successful spin-off of the installation (TruTeam, LLC) and distribution (Service Partners, LLC) businesses as TopBuild Corp (ticker = BLD) and unlocked key shareholder value for Masco Corporation shareholders.

With respect to our business transformation, it occurred in three phases. The three phases included: 1.) Returning to Profitability, 2.) Expanding Profitability, 3.) Extracting Shareholder Returns. As a leader in our business, I guided certain aspects of the transformation. Below are key initiatives within each phase.

Phase I – Returning to Profitability (TruTeam, LLC)

Completed ERP Deployment

Supported Operations Strategy – (1. Revenue Expansion – Line of Business Focus, 2. Direct Margin Expansion – Focus on Products of Excellence (Core Products), 3. Overheads – Locations and Rationalization)

Reviewed processes in all departments(A/P, Treas, Inv, G/L, Fin Rpt)

Rationalized staffing levels based on key process improvements and system implementation

Phase II – Expanding Profitability (TruTeam, LLC)

Established Continuous Improvement culture and implemented individual development plans for team members

Refined reporting and established measurement processes

Created new operations finance support department

Implemented new analytic and reporting tools (Microsoft data cubes and Qlikview)

Participated in Masco Executive Leadership Development Program

Continued to optimize staffing levels based on continued process improvements, system implementation, team development and staffing upgrades

Phase III – Extracting Shareholder Returns (TopBuild Corp, TruTeam,LLC and Service Partners,LLC)

Executed contract due diligence steps for Spin Off

Developed cross functional understanding, led creation of new corporate departments/programs (Tax, Treasury, Risk, Benefits) and implemented supporting systems

Created corporate accounting and external financial reporting departments, hired staff and implemented supporting systems. Successfully issued public filings – 10-Qs, 10-K, proxy statement, 8-Ks with internal staffing.

Updated and issued corporate finance policy library

Began development of Procurement Company to facilitate TopBuild Corp material purchase as single supplier to leverage buying power.

The steps taken above have repositioned a business unit which was a drain on the Masco Corporation results and given the shareholders a profitable publicly traded spin-off - TopBuild Corp.

Being part of the transformation outlined above has solidified my leadership style. Below are the key leadership attributes that I employ while leading transformation:

Listen to all “Customers”

Think and plan strategically

Execute tactical action plans, consistently and completely

Set clear expectations for measurable outcomes

Give responsibility and maintain accountability

Create continuous improvement, solution oriented, full-potential work environment

Each professional role that I have filled in my career has prepared me for a new level of service and leadership. I look forward to leading transformative growth and driving shareholder returns for the next firm I join.

Transformative Projects – Value Driven

Summary of Key Savings

$1.0 million – annualized cost savings - optimized General Ledger Department processes, systems and FTE

$1.1 million – annualized cost savings - optimized Accounts Payable Department processes, systems and FTE

$5.0 - $10.0 million – annualized operating profit contribution - Directed Operations Finance and Accounting Department processes through support of regional and division initiatives, driving operational execution.

Key Savings Initiatives by Department

$1.0 million - Annualized cost savings - TruTeam - Accounting Department – Direct reduction from 23 to 11 FTE in department

oConverted department design - functional specialists (process orientation) with job rotation vs regional teams.

oCompleted deployment of ERP system to 200 plus TruTeam divisions

oEmployed use of reporting software to further standardized reconciliation process

oStandardized and automated executive month end reporting using data cubes

oDeveloped process and tool for direct margin drill down showing Line of Business, Product Line and detail job level information for discussion with operations leadership

oDeveloped ERP system enhancements (Revenue Recognition calculator, Unbilled A/R-WIP, Inventory –Administrative Mark up, Interdivision transfers)

oSimplified or eliminated duplicate divisional reporting and automated distribution

oDeveloped on-line dashboards for division and corporate level P&L reporting

$1.1 million - Annualized cost savings – TruTeam - Accounts Payable Department – Reduction from 28 to 15 FTE

oRestructured department to improve oversight and reduce costs

oCompleted time study review of Oracle invoice processing steps and simplified

oDeveloped Invoice Hold monitoring tool to identify invoices by supplier and product type driving breakdown of 3-way match process.

oDeveloped clearing process for pricing and items holds with Procurement Department

oDeveloped Invoice Hold management system using Footprints software to document issue, work flow issues to responsible parties, age outstanding items, escalate when responses are not timely, minimize recurring issues and ensure supplier payment discounts are not lost.

oImplemented use of I-Supplier, increased use of EDI and transitioned manual invoice processing via fax.

oTransitioned manual input of 2-way match invoices to electronic upload through Oracle interface program.

oImplemented ImageNow, an electronic archiving system. Accelerated invoice processing through que management, problem resolution measurement and reduction of storage expense.

oImplemented Electronic T&E program to facilitate field expense processing and approval, automate entry of expenses in to A/P subledger and simplify audit process.

oStreamlined disbursement processing steps for internal payments (wires and special checks).

oImplemented 3rd Party check and vendor card payment process through Sungard (FTE savings and credit card rebate received for card payments).

oMigrated Sales and Use Tax to Masco and then transitioned to Ernst & Young for outsourcing.

$5.0 million - $10.0 million - Annualized Operating Profit Contribution -TruTeam- Operations Finance Department and Accounting Department support

oPrepared region and division level revenues and margins analyzes, creating tools allowing operation management to monitor progress and drive sales team results.

oPrepared product line reviews to support exit strategy from marginal product lines and redistribution of labor resources to other core business.

oProvided financial review and participated in root cause analysis to drive division level cost reductions in overhead categories including:

indirect labor

overtime

field supplies

repair and maintenance

utility expenses

freight expenses

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