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Developer Accounting

Location:
Aliso Viejo, CA
Posted:
January 07, 2020

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Resume:

Lee D. Davisson

Aliso Viejo, California 714-***-****

ada8jf@r.postjobfree.com

CFO or Controller

** + years’ successfully leading financial management and advancement for diverse organizations.

Accomplished CPA with a history of success leading companies in the realignment, management, and growth of financial operations. Specific expertise facilitating multimillion dollar financing in real estate development and construction sectors, including acquisition/disposition activities. Strong financial administrator adept at financial modeling and data analytics to forecast and validate development. Proficient with accounting systems conversions, including familiarity with multiple accounting software applications (JDE, Timberline, Yardi, Peachtree, FAST, and ARGUS). Known to be hands on problem solver, mentor of staff and communicating with other divisions. Has shown the ability to adhere to deadlines while working on multiple projects. Functions well in a fast-paced motivated environment, while still exercising judgement and discretion regarding confidential information. Has shown the ability to “see the forest through the trees” i.e. understanding the big picture while still maintaining attention to details.

Highlights of Expertise/Responsibilities

Proficient with Microsoft Office Suite with advanced Excel skills and knowledge of GAAP.

Proficient with SAGE 300 Timberline software and other ERP systems.

Oversee the month-end close process and ensure accurate and timely submission of the financial statements.

Oversee all accounts, ledgers, and reporting systems ensuring compliance with appropriate GAAP and IFRS standards

Coordinate the timely receipt of divisional level results and perform corporate allocations to the divisions. Including intercompany reconciliations.

Responsible for treasury related operations. Cash flow management/wire transfers and the related monthly bank reconciliations

Manage the quarterly and year-end reviews and audits

Experienced with multiple entity consolidation and eliminate interco and other entries accordingly.

Experienced in Joint Venture accounting and integration of acquisitions into company environment.

Serve as functional leader providing guidance and direction to the team, as well as being the expert in resolving or researching technical accounting treatment questions and subject data matter.

Manage accounting team including optimizing organizational structure, hiring and developing staff, assigning duties, evaluating performance, and ensuring quality results.

Prepare weekly cash position report and rolling 13-week cash flow to identify the need for cash contributions or cash available for distribution.

Serve as primary contact with external auditors and tax preparers, including timely supporting working papers for financial statements and related footnotes.

Focused on budget, contracts and lien releases.

Liaison among leadership team regarding processes, timelines, and requirements

Working with IS team in developing and continuing updating reports that will provide management information to be proactive rather that reactive.

Working with the various department or team leaders, coordinate the development of the periodic budget, as required.

Career Experience

Nature’s Growers Inc. Anaheim, California

INTERIM CHIEF FINANCIAL OFFICER (2018 to 2019)

Managed finance and accounting operations for a wholesale nursery company.

After cleaning up the books and records, issued CPA reviewed financial statements for the first time in company history

Working with council, prepared and negotiated a stock redemption agreement to acquire the shares of one of the two stockholders.

Obtain $3.7MM in company financing to provide funds to buyout the former stockholder and provide working capital via a revolving line of credit.

Family owned company

Province Inc. Las Vegas, Nevada/Laguna Hills, California

SENIOR ASSOCIATE (2015 to 2017)

Conducted financial advisory services, including bankruptcy litigation, turnaround, and restructuring. Guided efficient case progression by monitoring claims register, engaging with Debtor regarding supplementary documents, reviewing/summarizing related documents, and researching bankruptcy case law to support negotiation discussions with Claimant and counsel. Compiled pertinent questions and issues for the Debtor’s Council to address during process.

Obtained reduced claims in excess of $11M in accordance with 502(b) 6 of the bankruptcy code and through negotiations with Claimants and their related council. The Trustee approval and preparation of stipulated agreements that resulted in reductions in calculated prepetition damages leading to the overall reduction to the debtor’s creditor claims.

The Picerne Group (San Juan Capistrano, California

CONSTRUCTION PROJECT CONTROLLER (2013 to 2015)

Boosted process efficiencies as the Interim Project Controller/Consultant for a multi-family owner and developer (The Picerne Group) via the integration of the Timberline (SAGE 300) construction software and the design of custom job cost reports, internal funding requests and loan draws

Review and reconcile job cost reports to the general ledger and monthly draw requests and/or distributions.

Supervise monthly close, accounts payable and loan draw packages to clients, lenders and management, using the appropriate AIA forms submitted by subcontractors

Province Inc., Las Vegas, Nevada/Laguna Hills, California

SENIOR CONSULTANT (2011 to 2012)

Oversaw the reorganization/bankruptcy case for American West Development, the largest privately held homebuilding and land Development Company in Southern Nevada. Collaborated with legal counsel regarding bankruptcy action strategies.

Developed court required reports, including a five-year consolidated financial projection for multiple homebuilding projects and a 13-week rolling cash flow short-term cash flow, using excel. Restructured operational efficiencies, offering guidance, mentoring, provided and direction to accounting personnel regarding processes, risk management, and budget maintenance.

The Hotel & Residences at LA Live, LLC (KB/AEG JV Company), Los Angeles, California

SENIOR PROJECT CONTROLLER (2007 to 2008) Served as lead financial manager for the construction of a 54-story luxury hotel and condominium tower, budgeted at $970M, located in the LA Live project in downtown Los Angeles. Oversaw financial activities, including budgeting, financial reporting, financial/cost controls implementation and management, risk management, and general finance/accounting duties.

Drove project funding in conjunction with the AEG executive group by facilitating $650M in construction financing (both mezzanine and senior debt), including LIBOR cap agreements and letters of credit. Implemented supplementary financing from active equity partner (McFarlane).

Built a complex capital stack structure model with multi-tiered waterfall provisions to develop project budget using excel.

After initial set up, supervised the entry of the budget into JDE and approved coding of entries for payment into JDE accounting system. Also, reviewed and approved monthly loan/capital calls for funding of project costs

INDEPENDENT CONSULTANT (2008-2011)

During the real estate and related financial market correction, I worked on engagements with the following companies:

MKA Capital Group - Interim Controller - Real Estate Hedge Fund, Cleaned up books and issued 2 years of audited financials.

DPFG – Interim Chief Financial Officer – Company that facilitates public financing for development projects i.e. Mello Roos programs.

KB URBAN – Senior Analyst - work with the SVP to update proformas for podium development projects that were underwater. Assist on developing strategies to approach the various lenders/equity partners with proposed solutions.

NEW HOMES GROUP – Interim Vice President – worked on bringing neglected Timberline books up to date. Updated proformas/land residual analysis for presentation to lenders/potential equity partners. Contacted interested groups for presentation to owner.

PANCELTICA – Financial Director (CFO) – traveled to the Middle East in an attempt revive a 2,000-unit apartment project in Qatar.

PRIOR REAL ESTATE FINANCIAL AND ACCOUNTING EXPERIENCE:

RWR Group of Companies - Vice President & Chief Financial Officer - Home builder and Land Developer Fieldstone Communities, Inc. Controller–Operations - Home builder and Land Developer

Polygon Development L.P. Vice President & Controller - Commercial Construction Developer

CCL Holdings USA Ltd - Controller-Investments - Home Builder and Asset Acquisition/Disposition

Brookfield Properties - Corp Controller–U.S. Western Region - Commercial Developer, Home Builder and Land Developer

Bachelor of Science in Business Administration, Accounting

Chapman University, Orange, California

Certified Public Accountant (Currently Inactive)

Kenneth Leventhal & Co (A CPA firm noted for real estate clients and related activity). Subsequently merged/acquired by E&Y

California Real Estate Brokers License (Currently expired, but renewable)



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