Nelson S. Armogan, MBA & CPA(Inactive)

Rochester, MN 55901 Phn: 703-***-**** Email: ad04dl@r.postjobfree.com

CORPORATE CONTROLLER

Distinguished Finance Executive with an excellent record of achievement delivering strategic insight and vision in the management of Corporate Finance and Corporate Development. Proven track record holding key leadership roles within start-up ventures and established businesses, applying strong operations, business, and financial acumen to rapidly establish structures, processes and systems, adding value and driving business growth.

Revenue Recognition and Operations Optimization Expert with ability to apply a business-centric mind-set in the analysis of complex financial and business performance metrics and data to identify opportunities and define strategies that drive increased cost efficiency, enable enhancement of operations, and deliver accelerated revenue growth.

Business strategist recognized for ability to proactively collaborate with executive leadership and management teams to define and develop innovative solutions to business challenges.

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Professional Experience

Gusto Foods International, Highland Park, Ill 60035 11/2016 –08/2020

Consultant- Ethnic Foods).

Play an integral role, delivering financial and business insight to support a group of private investors for a start-up Ethnic Food venture, performing robust analyses of fiscal, business and market data to produce accurate forecasts, reports, and strategic recommendations to support development, production and marketing of a line of Shelf Stable (MRE)Spicy entrees.

Worked closely with business leadership to articulate vision and business objectives and performed complex analyses and financial modeling to develop and support implementation of a 3-year business plan.

Efficiently managed compliance including TM registrations, commercial formulations for (12-SKU) kitchen recipes, and FDA labelling/approvals.

Banner Glass, Inc., Silver Spring, MD 2/2009 –9/ 2016

CORPORATE CONTROLLER

Delivered astute oversight and strategic leadership contributing significantly to this 100% (ESOP) employee-owned, regional commercial flat glass installation company generating annual revenue of $12M+ from 9 branches. Provided insight and direction steering financial functions including budgeting, forecasting, financial planning, reporting, tax, and treasury, together with all general accounting functions and HR functions, supporting corporate vision and achievement of business objectives. Worked in unison with CEO, supporting short-term/long-term strategy and corporate vision development.

Accurately and efficiently steered the preparation and review of monthly, quarterly, and annual financial reporting processes, such as P&L and BS-Cash Flow, including COGS and SG&A, along with performing analysis to identify opportunities to reduce costs in labor and materials.

Led preparation and reviewed with Assistant Controller actual monthly, quarterly and annual consolidated results against Annual Operating Budgets including projections from the various branches, along with reviewing with branch managers all new and existing AIA contracts to ensure that accurate progress billing and costing were captured for each billing cycle.

Held responsibility for complying and maintaining banking covenants with lenders and institutions. Compiled and prepared the agenda and reports for Quarterly and Annual Board of Directors meetings, including financial results and all current and future major events.

Reviewed and approved with Assistant Controller all (ADP) quarterly and annual filings for federal and state payroll taxes, state sales, and city and municipal property taxes.

Oversaw renewal of company business licenses, performance bonds, insurance business plans (coverage) for employee benefits and product/service liability for all branches.

Supervised Assistant Controller, IT (IBM AS/400) and HR department managers and other indirect staff personnel; scheduled more staff assistance to branch managers to resolve identified operational issues that supported significant improvement in timely billing cycles, A/R, and cash flow.

Worked closely with the VP of Operations and branch managers to drive revenue growth and profitability by taking (P&L) ownership with an annual bonus based on performance.

Conceived and implemented structures and processes to enhance operational efficiency, and business growth including creating a committee to explore additional markets and products, resulting in two signed exclusive distributor agreements to install green technology products with forecasted $4-6M in new revenue annually.

Delivered in the region of $500K in annual savings by closing 2 non-performing branches.

Effectively consolidated banking activities with one regional bank, delivering $100K in savings annually.

Successfully negotiated stand-by Letter of Credits for fleet replacements and $ 500K to ramp-up operations pertaining to new solar panel glass installations.

Sona BLW Precision Forge, Selma, NC (Acquired Thyssen Krupp: Essen-Germany) 12/2008 – 12/2008

Director of Finance/US Controller

Assumed DoF/US Controller responsibilities following Sona’s acquisition of Thyssen Krupp, taking on the challenge of supporting financial and operational integration and merger processes. Steered all financial reporting, budgeting, forecasting and planning, together with process improvements, and annual auditing, significantly contributing support to India world headquarters and U.S. leadership teams progress to achieving $300M sales goal by 2013. Direct the annual budget including Capital budgeting (CAR) for replacement of major equipment to eliminate downtime and waste while improving thru-puts efficiencies and product quality.

Drove enhanced efficiencies and accuracy in financial reporting, facilitating and proactively contributing in meetings reviewing account variances and development of strategies to address identified concerns.

Collaborated with Operations to identify and analyze relevant data for deep insight into revenue, COGS, margins, expenses and profitability trends of the businesses and determine cost savings areas for operation departments.

Prepared monthly, quarterly and annual packages for recurring meetings with the (US) CEO and COO and other subcommittees as deemed appropriate.

Defined and developed a robust (CAR) Capital Appropriation Request budget for a $50M new equipment

& modernization program. Each major project to be justified based on positive paybacks using IRR, NPV & DCF methodologies. Work with the CEO, COO, and staff to develop better EBITA expectations and Revenue targets.

Assisted with the annual audit by preparing and reviewing requested schedules and addressing auditor enquiries.

Partnered with Operations to develop annual production standards for the development of metrics to aid in identifying cost variances and other financial risks and opportunities. Identified opportunities in the purchasing, production and processing departments to reduce costs and generate new revenue.

Successfully negotiated with foreign banks to secure $50M (Reg A) Exempt Private Placement to enable modernization and rehabilitation of manufacturing plant and equipment.

ThyssenKrupp Precision Forge, Selma, NC . (WHQ Essen Germany) 1/2002 –12/ 2008

US Controller

Played a critical role steering financial and accounting functions including Treasury, banking relationships and cash management policies to sustain ongoing operations. Established accounting policies and procedures for all departments, and closely monitored receivables and payables. Managed the budget process including new plant and equipment requests. Prepared operational and financial justification for new acquisition of PP&E. Provide financial analysis for major Corporate purchases and acquisitions. Oversaw due diligence, led negotiation on acquisitions.

Collaborated with SONA Management (India) & foreign banks to complete a $50M Exempt Private Placement (Regulation A) facilitating modernization and rehabilitation of Plant and Equipment to continue operations without supply chair interruption.

Maintained relationship with both foreign and local financial institutions for the company’s investment portfolio.

APA International Airlines, Santo Domingo / Herrera, Dominican Republic 3/1991 – 12/2001

Vice President / Director of Finance

Steered restructuring of airline by upgrading its fleet to include A300-200; B737-400; B727-200; L-1011 aircrafts utilization, crewing, a maintenance program, insurance, foreign government approvals and authorizations, and marketing and financial objectives. Supervised foreign currencies conversion and tax reporting to local and foreign revenue and tax authorities. worked closely with US and foreign banks to establish standby letter of credits (L/C), escrow accounts, and other payment and credit card systems for the airline

Hired, trained, mentored, supervised, and evaluated 5 senior managers and 16 staff personnel.

Prepared five-year Executive Business Plan with projections for revenue and profit by passenger program and destinations.

Reviewed weekly (flash report), monthly, quarterly, and annual P&L results (Balance Sheet, Income Statements, Cash Flow Statement and other supporting schedules) with the President and the Board of Director.

Developed key performance indicator (KPI) metrics to report revenue per seat, mile, block hour, route, day, equipment type, employee, and total assets.

Managed all operating contracts and agreements such as aircraft leasing and outside maintenance contracts, fuel hedging, escrow agreements, labor agreements with local unions, and renewal of all operating authorizations granted by the Dominican and by all other foreign governments.

Worked closely with local independent auditors to review, prepare, and present the company’s annual report to the President, senior management of APA International Airlines, and financial institutions by adopting both the US GAAP and IFRS guidelines.

NCR Corporation, Dayton, OH 9/1984 – 12/1990

Division Controller, SDS

Reported to the Division VP/ General Manager monthly, quarterly, and annual accounting and financial results on a timely basis.

Supervised Assistant Controller and (8) eight other accounting staff regarding all accounting and financial changes, pronouncements, and amendments issued from Group and World Headquarters (WHQ).

Worked closely with Purchasing, Sales and Marketing, and Production Departments to ensure “just-in-time” raw materials were always on hand.

Analyzed cost of goods sold (COGS-material, labor & overhead), including components affecting variances on a monthly, quarterly, annual basis with emphasis on (WIP) and year-end physical inventory characteristics.

Presented Division’s annual long-range business plan (Budget) to System-Media Group and WHQ Executive Board.

Worked with IT and Sears Catalogue Parts Division to develop the first Kiosk platform using CD-ROM technology for gathering, storage, and dissemination of vast amounts of information.

Prepared funding requests of $10M for (100) one hundred additional Kiosks to supplement this new CD-ROM technology for gathering, storage, and dissemination of information to end-users. Source Document Services (SDS) Division management was the first to embrace this new technology on a commercial basis.

FORD MOTOR COMPANY, Dearborn, MI 8/ 1982–9 /1984

Manager, Capital Budget (CAR) (1982 – 1984)

Managed a $2B for new plant expansion and modernization for 4 engine plants for North American Automotive Operations (NAAO).

Worked with 4 plant managers, plant controllers, including the department heads for human resources, engineering, and general and cost accounting to analyze project justification of savings. Leveraged financial modeling tools (DCF, IRR, ROI and NPV) and other Safety and EPA factors to make recommendations for approval for each CAR request.

Reviewed each CAR in detail to ensure a series of criteria were met before presenting them for approval by the appropriate authorized senior management personnel at the Engine Division and WHQ.

Supervised 7 direct Capital Budget Analysts and (3) supporting staff for an annual CAR budget of $2B for NAAO.

Financial / Cost Analyst, Engine Division, Lima Engine Plant, OH 6/1978 –8/1982

Gained exposure, through Ford Fast track program, to the fundamentals of Plant manufacturing standards, work ethics and disciplines including general and cost (COGS) accounting and financial experience.

Placed on Ford’s Fast Track Management Program at the Lima Engine Plant for this direct on-hands approach to learn, understand and perform the daily, weekly and month-end processes within a sophisticated, multi-national operations.

Education & Certifications)

XAVIER UNIVERSITY, CINCINNATI, OH

(1978) MBA, Finance & Multi-National Business (1975) B.S., Business Administration, Accounting (1979) Certified Public Accountant (CPA) Inactive 1965 General Certificate of Education ( University of London-UK)

Technical Skills

Microsoft Excel (V-Lookup, Pivot Tables), Word, PowerPoint, Outlook

IBM AS/400; SAP (General Ledger, Costing, Production, Supply Chain); QAD MEG PRO; Peachtree;

QuickBooks; Sage 50; Workday; Glass-PAX

Valued Expert in:

Budget/Financial Planning

Forecasting (ESOP Administration)

Financial Reporting/Analysis

Investment/Asset Allocation

Strategic Business Planning

Accounting/Payroll/Taxes

Cash Flow Management

Banking & Institutional Relations

Internal Controls/KPIs

Internal/External Audits

Contract Review/Negotiation

Cost/Inventory Reconciliation

EBITA/Revenue Growth

GAAP/SOX/IFRS/ Compliance

P&L Management

M&A Integration/Due Diligence

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