Corporate Financial Management

David J. Smith

Home: 586-***-****; Cell: 586-***-****

LI URL: www.linkedin.com/in/david-j-smith-mba-financeprofessional

e-mail: ****************@*****.***

FINANCIAL MANAGEMENT

Automotive Parts Manufacturing Aerospace Parts Manufacturing

Controlling Financial Analysis Supervision M&A/Due Diligence Sarbanes-Oxley Purchasing Payroll/HR

Financial management professional with deep expertise in oversight of all financial management activities within financing, accounting, and reporting functions. Proven ability to favorably impact income and profitability and an MBA with progressive experience in accounting and analytical finance while providing value to organizations in plant, corporate, and divisional environments. Fostering collaborative team environments and mentoring/coaching, developing multi-site financial statements, overseeing capital spending and cash management, ERP expertise, directing M&A due diligence, and supervision. Exemplary experience encompassing the entirety of the manufacturing process.

Forecasting Budgeting Business Planning/Modeling Mentoring Communication Cash Management P&L Management Balance Sheet Management HR Supervision Internal Reporting Monthly Closing Treasury Analysis

Systems Experience: ERP systems (QAD, SAP, AS400), PC applications (Excel, Word, Access, Outlook, PowerPoint, Lotus Notes), BI, Hyperion, Essbase, Enterprise/Retrieve, Magnitude, and Quickbooks

CAREER HIGHLIGHTS

Drove extension of cash management from 3 to 12 weeks (VU Manufacturing).

Enacted internal GAAP reporting disciplines including implementation of accrual reporting, intercompany account reconciliation and full balance sheet reporting of Mexico operations (VU Manufacturing).

Directed all financial aspects of up to 6 CBU programs concurrently, including tracking program KPI’s, while serving as Program Controller with Faurecia. One with anticipated lifetime sales exceeding $1B.

Executed M&A due diligence on four acquisition projects totaling more than $200M in incremental sales.

Negotiated MEGA (training grant) agreement with the state of Michigan, which resulted in incentive packages totaling more than $8M to establish a new facility in Romulus, Michigan.

Awarded Controller of The Year Award while with Faurecia.

SIGNIFICANT PROFESSIONAL EXPERIENCE

Corporate Controller VU Manufacturing, Troy MI (2019)

Driving oversight of plant financial statements and all accounting activities for multiple manufacturing locations (1 in Mexico) and multiple legal entities; co-led ERP (AS400) implementation; headed Payroll/HR for US locations, managed treasury/banking activity; oversaw forecasting & budgeting; developed financial analysis including customer giveback recommendations and validation of quoting activity; approved purchase orders; coordinated with external accounting firm for year-end audit; supervision (4 full time and 1 part time).

Increased cash forecast from 3 weeks to 12 weeks and moved to bi-weekly vendor payments.

Enacted adherence to GAAP including: implementing accruals, directing IC account reconciliations, and full reporting of Mexico operations all which significantly improved P&L and Balance sheet accuracy.

Developed pricing guidance on new programs, at times with new customers, for multi-million dollar programs.

Implemented FY19 full year forecast providing operational goals and objectives.

Constructed analysis and recommendations regarding potential customer givebacks.

Co-led implementation of new ERP system, including creating chart of accounts and loading historical data.

Directed monthly journal entries in 2 systems (Quickbooks and AS400) at times posting entries.

Senior Program Controller Faurecia Automotive Systems, Auburn Hills, MI (2010 – 2018)

Purchasing & Sales Controller (2006 – 2009)

David J. Smith Financial Management Phone: 586-***-****

Senior Program Controller; Sales & Purchasing Controller Faurecia Automotive Systems (Cont.)

As Program Controller, directed all financial activity for CBU programs during acquisition, program development and early serial life phases. Managed P&L & balance sheet; developed comprehensive 5-yr business plan; facilitated cash flow; constructed cash forecast; created annual budget; drove monthly closing including journal entries; engaged in balance sheet reviews and directed all outside tooling and D&D purchase orders and payments. Developed and facilitated training and mentoring of colleagues and team members. Engaged with multiple levels of the organization from plant financial management to senior executive management.

As Sales & Purchasing Controller, drove all tracking and monthly reporting of purchasing and sales variances; coordinated purchasing savings initiatives; developed monthly MD&A; coordinated supplier audits and supervision.

Managed tooling budgets up to $25M, including PO approval, invoice approval and spending tracking.

Negotiated cockpit assembly agreement with JV supplier on C446 program (incl. piece price and cash funding).

Coordinated monthly closing and reporting activity, including accruals/journal entries, financial statements, variance analysis and forecasting.

Directed development of semester KPI targets for programs within my scope of responsibility.

Executed and developed financial and program management training for people in non-financial departments.

Saved company $100K by avoiding operational support payments to a vendor in financial difficulty by negotiating revised payment terms and working with commodity manager to determine revised pricing.

Recognized as Controller of the Year (2016).

Area Finance Manager Tower Automotive, Livonia, MI 2006

Headed financial oversight and management for 7 manufacturing operations and operational financial support to Area Manufacturing Director. Oversaw financial management of multiple facilities during wind down period. Led team of 5 plant controllers.

Coordinated closure of 2 manufacturing sites by the end of the year and 2 more that were targeted to close by the middle of 2007 with onsite finance and operations teams as the company attempted to come out of bankruptcy.

Directed 2-3 balance sheet reviews per month and determined appropriate action based on findings by financial analysts thereby reducing company financial risk.

Oversaw performance improvement plan for 1 direct report.

Manufacturing Controller Blue Water Automotive Systems, Marysville, MI 2005 – 2006

Managed all financial aspects and issues for 6 domestic manufacturing facilities with sales ranging from $10M to $30 M annually and support to Mexican operation.

Developed mid-month profitability forecast/flash for all domestic locations.

Led multi-functional materials “swat team” charged with providing analysis, data and direction related to recouping recent significant resin price increases from customers either through cost pass-through or material substitutions resulting in increased sales of $1M annually.

Implemented new processes to reduce closing time by 4 hours per month.

Conducted analysis and provided recommendations related to the potential closing/operational status of one of the company’s facilities with the result that the plant remained operational.

MBA

Account Financial Manager (AFM) Plastech Engineered Products/LDM Tech. 2004

Senior Financial Analyst (Plant Controller) 1994 – 2004

LDM Technologies, Inc. acquired in February 2004 by Plastech

As AFM, conducted financial analysis which was provided to business teams, presented program financial status to upper management and translated system bills of material to Cost Tracker format.

As Sr. Financial Analyst, coordinated financial analysis and P&L reporting activities of up to 12 plant operations in 2 divisions; provided financial support and direction to plant managers and group manufacturing director(s); developed 5-yr strategic plan including sales projections and P&L, instituted new budgeting application, created and implemented method to develop equipment burden rates, conducted M&A due diligence for 9 potential acquisitions.

David J. Smith Financial Management Phone: 586-***-****

Sr. Financial Analyst (Corp Controller) Plastech Engineered Products/LDM Technologies (Cont.)

Translated bills of material and routers from ERP system to company Cost Trackers for 2,000+ parts (AFM).

Monitored and tracked capital spending plan of more than $40M for new greenfield facility.

Engineered due diligence on 4 successful acquisitions totaling more than $200M in revenue.

Steered negotiation of MEGA training grant with state of Michigan, which resulted in incentive packages totaling more than $8 million to establish a new facility in Romulus, Michigan.

Accumulated and validated costs related to a plant fire resulting in insurance settlement in excess of $2M.

Developed and implemented new sales forecasting process and calculation of equipment burden rates.

EDUCATION & RECOGNITION

M.B.A Masters of Business Administration with a concentration in Finance.

Western Michigan University, Kalamazoo, MI

B.A Bachelor of Arts Degree with a Business/Math Group Major.

Calvin College, Grand Rapids, MI

Awards: Controller of the Year 2016; nominated by direct supervisor

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