Officer Executive
Resume:
David B. Arney, CPA, MBA
adlhzf@r.postjobfree.com
SUMMARY
Senior Executive with President, Chief Financial Officer and Chief Operating Officer experience in publicly traded and private equity backed companies. Extensive experience in the change management and team building processes required to produce world class operational and financial management capabilities. Proven record of results in strategic planning, mergers and acquisitions, investor relations, enterprise resource planning, SEC reporting and custom system development, product development, production and distribution, technology outsourcing and performance management in both domestic and international venues. PROFESSIONAL EXPERIENCE
GA COMMUNICATIONS, INC., (d/b/a PureRED), Stone Mountain, GA President and Chief Financial Officer
2018 to 2020
$70 million leading marketing service and technology partner delivering digital content at scale, speed and precision required by large enterprise retailers and consumer marketers Managed a staff of 270 finance, information technology, marketing services production, legal and human resource professionals. Reported to the Chief Executive Officer Doubled the value of the business in less than three-year period of time Lead a process to move all 475 associates across 14 offices to be able to work effectively from home. Prepared the development of the Confidential Information Memorandum (CIM), Quality of Earnings (Q of E), Management Presentations, and managed a marketing study and technology review study, with the investment banker, private equity investors and legal teams in preparation for the sale of the company Designed and implemented a new sales incentive system that drove $5.5 million in incremental revenue Re-aligned development work to produce technology products for the industries served instead of custom development work by client, which will produce 4 to 8 times the return on investment
GA COMMUNICATIONS, INC., (d/b/a PureRED), Stone Mountain, GA Chief Financial Officer
2017-2018
Managed a staff of 12 finance, information technology, legal and human resource. Report to the Chief Executive Officer Refinanced $20 million of short and long-term debt which saves $250 thousand in annual interest and fees Implemented time tracking for resource utilization monitoring and monthly revenue forecasting Migrated the accounting from cash basis to monthly accrual accounting which reduced the audit cost and cycle time by half INTERSECT GROUP, Atlanta, GA
Senior Consultant
2014 to 2017
The industry leading provider of tailored finance, accounting, and technology professional service solutions serving CFOs, CIOs and their teams by providing flexible delivery of staffing and consulting solutions.
Interim International Controller with a staff of 70 for the world's largest, $600 million, independent provider of claims management solutions to the risk management and insurance industry as well as self-insured entities with offices in over 70 countries Developed the plan and lead the world-wide implementation of the new revenue recognition standard Selected and implemented a software tool to replace a custom-built intercompany reconciliation system Completed and standardized the annual intangibles impairment analysis for all reporting segments including domestic and international operations including EY audit and specialists’ reviews
Updated the worldwide policy and procedures manual as needed including the development of an acquisition and divestitures policy and procedure and amended or revised the impacted SOX controls
FISERV, INC., (NASDAQ: FISV), Norcross, GA
Vice President of Finance for the Financial & Risk Management Services Division 2012 to 2013
$4.5 billion global technology provider serving the financial services industry with solutions in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization
Manage a staff of 11 finance and information technology associates. Report to the Division Senior VP and CFO Supported the merger of two business units into one with the expected annual savings of $5million. Realigned the finance organization from a functional to a business unit support structure while upgrading the staff Completed the conversion from multiple general ledger and reporting systems to a single SAP instance from a finance requirements and reporting perspective Managed the reduction of accounts receivable by 50% generating over $18 million in improved cash flow GRAPHIC COMMUNICATIONS INTERNATIONAL, INC., Norcross, GA Chief Financial Officer
2009 to 2011
$1billion private company wholly owned by Unisource Worldwide, Inc. which is majority owned by Bain Capital, together the world’s largest independent paper communications consultant
Managed a staff of 18 accounting and information technology fulltime and temporary associates. Reported to the President Lead the reorganization of the accounting and information technology groups into shared services organizations saving $1.5 million annually Managed the acquisition and integration of a paper brokerage business in Belgium resulting in a 200% return on investment in the first full year of operations Settled favorably a $1 million-dollar refund request dispute with the German tax authorities Established the structure and procedures for an import/export paper division Sponsored the development and implementation of a custom developed web based standardized order entry and tracking system that reduced order entry and billing errors by 50%. Directed the requirements gathering and validation for the reimplementation of a Navision ERP system. CULLIGAN INTERNATIONAL COMPANY, Rosemont, IL
Vice President of Finance for North American Company Owned Dealer Division 2007 to 2009
$800 million private company, majority owned by Clayton, Dubilier and Rice, which is an internationally recognized leader, manufacturer and distributor of water treatment and filtration products and services for the commercial industrial and consumer markets Managed a staff of 28 of accounting, financial planning and analysis and business systems support. Reported to the Chief Financial Officer of Culligan International Company Lead a reengineering effort which reduced cost by $1.8 million annually and a 50% reduction in staff Directed the establishment of an Accounts Payable Shared Services organization Updated the standard costing and inventory management systems and procedures for the manufacturing and distribution divisions of the Company Managed the consolidation of three General Ledger systems to one Worked with Senior Management peers to re-implement a performance management system using Hyperion Financial Management Systems CLICK COMMERCE, INC. (NASDAQ: CKCM), Chicago, IL
Chief Financial Officer, Treasurer
2006
$59 million publicly traded, leading provider of on-demand supply and demand chain management software, consulting and hosting solutions company. Managed a staff of 25 including finance, accounting, investor relations, technology hosting services and corporate technology services. Reported to the Chairman and Chief Executive Officer.
Agreed to a sale of the company at a 27% premium to prior day close or $292 million Conducted a stock buy-back as a follow-on transaction to an acquisition, reducing the original purchase price by 30% Held P&L responsibility for Hosted Data Center Services Group Planned and began execution of data center consolidation from nine locations to three Secured financing for $30 million line of credit
Reviewed 15 acquisition opportunities, conducted financial and technical due diligence on two Completed 2nd year Sarbanes-Oxley Act compliance
Q INTERACIVE, INC., (f/k/a NASDAQ: CSAV), Chicago, IL Senior Vice President of Operations and Chief Financial Officer, Secretary, Treasurer 2003-2006
$67 million formerly publicly traded internet direct marketing and media company Managed a staff of 65 including technology resources in design, development, creative, outsourced and production groups, all financial functions, investor relations, treasury, Secretary, legal and facilities. Reported to the President and Chief Executive Officer Directed the transition to a privately held company, saving over $800,000 annually Q INTERACIVE, INC., (f/k/a NASDAQ: CSAV), Chicago, IL Chief Financial Officer
2001-2003
Managed all financial functions, controls and SEC reporting; managed all aspects of human resources and facilities. Reported to the President and Chief Executive Officer. Completed a capital transaction that raised $21.5 million in cash and debt and $6.7 million in subsequent rounds Implemented financial turnaround - cash flow improved from $3 million per month loss to a positive $100,00 per month in 12-month period of time eLOYALTY CORPORATION, Lake Forest, IL
Director of Worldwide Finance
1999 to 2001
$200 million NASDAQ listed technology company focused exclusively on Customer Relationship Management (CRM) implementations for the Fortune 1000 Managed all operational and financial set-up of new public entity including the financial and operational controls and reporting, implementation of new internal financial systems, establish budget and forecasting capabilities. Reported to the Senior Vice President of Operations. Performed the financial responsibilities for eLoyalty’s spin-off from Technology Solutions Company, including the IPO S-1 SEC filing which resulted in raising $27 million in capital TRANS UNION CORPORATION, Chicago, IL
Division Controller
1997 – 1999
$1 billion consumer credit reporting agency, largest operating unit of $6.5 billion Marmon Corporation TRANS UNION CORPORATION, Chicago, IL
Assistant Controller
1995 – 1997
TRANS UNION CORPORATION, Chicago, IL
Director of Financial Planning
1992 – 1995
TRANS UNION CORPORATION, Chicago, IL
Manager of General Accounting
1990 – 1992
FEDERATED FOODS, INC. AND AFFILIATES, Arlington Heights, IL Accounting and Financial Reporting Manager
1988 to 1990
DELOITTE AND TOUCHE, Chicago, IL
Senior – Audit Function
1984 to 1988
EDUCATION & TRAININGS
NORTHWESTERN UNIVERSITY
J.L. KELLOGG GRADUATE SCHOOL OF MANAGEMENT
Master of Business Administration
Executive Master’s Program
WESTERN MICHIGAN UNIVERSITY
Bachelor of Business Administration
Accountancy
University Honors Program
Georgia CPA License #: CPA034464
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