James A. Olivo, CPA
West Milford, NJ 07480-1800
SUMMARY: Diversified leadership skills with strong emphasis in financial reporting, SAP systems, shared services, enhancement of processes and internal controls, cost control, business integration of acquired companies, budget and forecasting. PROFICIENCIES:
• GAAP and IFRS • Process improvement
• Mergers and acquisitions • SAP business systems
• Restructuring experience • Systems implementation
• Cost containment • Facilities management
Oaklane Partners, Iselin, NJ March 2017 to current Self-employed Consultant
Performed merger and acquisition analysis on possible targets including analysis of both historical performance and review of forecasts including cash flow where EBITDA is the key driver.
Perform internal audit of owned companies to ensure financial reporting integrity
Perform monthly fixed asset accounting including depreciation (Excel, no fixed asset system)
Complete and review various general ledger account reconciliations Carl Zeiss, Inc., Thornwood, NY June 2006 to June 2016 Executive Vice President & Chief Financial Officer (retired)
Responsibility includes the financial leadership and consolidated reporting activities for five U.S. and one Canadian owned optical specialty companies with sales of $650 million.
SAP integrated financial and reporting systems were successfully implemented in both manufacturing and distribution companies through my direction with influence into other SAP business processes and modules such as MM and SD.
In addition to traditional CFO responsibilities, activities included facility related activities, employee benefit matters, federal and state taxes, and the information technology department.
Creation and initial leadership of a Carl Zeiss SBE, a supplier to the semiconductor industry, $70M in sales and service revenue with 40 employees (August 2012 to July 2014).
Lead conversion from ADP payroll to Workday HRIS system (2015-2016)
Lead successful financial integration and addition of shared services to X-ray Microscopy acquired subsidiary in a timely and orderly manner ($75M revenue and 120 employees)
Lead successful facility renovation which included an energy conservation project to include solar panels, LED lighting, and building maintenance system integration. Realization of 40% KwH decrease and a 35% cost reduction.
Agfa Corporation, Ridgefield Park, NJ January 1990 to May 2006 Corporate Controller/Director of Corporate Accounting
Agfa, a photographic, medical, and graphic digital imaging company was the No. American distributor and manufacturer with $1B in revenue for a multi-national Belgian stock listed parent.
Devised and executed a plan for the integration and harmonization of 3 legal entities into one reporting unit to our global parent.
Key liaison to the audit committee and the external auditors James A. Olivo, CPA Page 2 of 3
Agfa Corporation (continued)
SAP general ledger & accounts payable systems were successfully implemented through my involvement with significant influence into other modules of SAP and their interface to finance.
Responsibilities included US and Canadian general ledger activities, accounts payable, payroll, inventory, internal controls, accounts receivable, & cost accounting, corporate financial reporting and variance analysis through a fully integrated SAP system.
Was the Company’s “go-to” person for all technical accounting related matters including benefit related issues and revenue recognition matters related to software and hardware integration.
Active participant in a warehousing analysis whether to keep in-house or outsource leading to closure of warehouses to an outsourced solution leading to about a 30% cost reduction
Provided controllership function to the NAFTA Shared Service leaders with budget preparation and actual expense analysis to budget as they related to cost driver related activities.
Over a two-year period, reduced the financial closing from 11 days to 4 days. Realization of a 50% departmental staff reduction to below fifty people with over $2M per annum in cost savings via process improvement and automation.
Financial lead in acquired companies with subsequent integration into business processes including the setup of Agfa Corporation subsequent to a 1998 separation from Bayer Corporation, $360M acquisition in 1999, a 2003 SAP implementation in a Canadian sister company, & our annual audit. Scali, McCabe, Sloves, Inc., New York, N.Y. July 1988 to December 1989 Controller
Prepared advertising analysis including the statutory reporting for the international consolidation.
Developed and supervised a professional staff of 6.
Maintained automated general ledger system including a job cost system for advertising accounts.
Reviewed and analyzed various cost reports by client and media types to ensure that the appropriate costs were applied against the applicable revenue
Analyzed monthly financial statements versus plans for revenue recognition and expense control. Degussa Corporation, Ridgefield Park, NJ May 1985 to July 1988 Treasury Manager
Responsible for the corporate debt portfolio that increased by $85M over two years for a growing German owned chemical and precious metal Company.
Managed monthly foreign currency exposure for the capital expansion of a manufacturing facility
Oversaw bank relations and daily cash management positioning.
Monthly analysis of financial statements, cost of goods sold analysis, and inventory levels.
Supervised 8 reports including cash, accounts payable, and book & physical inventory control.
Led a project of existing systems that included the modernization of the cash management system and enhanced daily utilization.
ITT Pumps & Equipment Division, Midland Park, NJ November 1983 to May 1985 Assistant Divisional Controller
Prepared monthly financial reports for 5 multi-nationals including a Canadian and Mexican subsidiary with over $100M of revenue including preparation of an SEC reporting package.
Prepared of an annual operating and profit and loss budget along with a 5-year operating plan.
Assisted in the development of an automated consolidation system for a newly created division. James A. Olivo Page 3 of 3
Kidde, Inc., Saddle Brook, NJ September 1981 to November 1983 Manager Internal Audit –
Audited and reviewed prospective acquisition and divestiture companies.
Supervision of internal audit staff for financial audits of a diversified SEC conglomerate.
Reviewed internal controls identifying problems and suggesting process improvements. KPMG, Hackensack, NJ
Supervising Senior Accountant – (July 1978 to September 1981)
Activities included planning and supervision of various size financial audit engagements within a time budget for a “Big Four” audit firm.
EDUCATION: BBA Accounting, Seton Hall University, 9/74 to 6/78 Undergraduate G.P.A. Overall/Accounting - 3.0/3.5
Executive MBA courses taken at Colorado Technical University Completion of degree is currently 10 credits short PROFESSIONAL AFFILIATIONS: U.S. Citizen, Member of American Institute of Certified Public Accountants (license # 184028), NJ Society of Certified Public Accountants (license CC12321), and a member of the Financial Executive Network Group, Member of West Milford Zoning Board since 2010.