Chief financial officer
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TIM PROPP - CFO
LEESBURG, VIRGINIA 20176 United States
Day Phone: email me
Day Phone: 678/831-5525
Email: **********@*****.***
Work Experience:
Chief Business Officer / CAO / CFO
THUNDERBIRD SCHOOL OF GLOBAL MANAGEMENT
400 E Van Buren St,
Phoenix, AZ
4/01/2005 - Present
Salary: $119.00 USD Per Year
Hours per week: 52
Duties, Accomplishments and Related Skills:
Reporting to President & CEO, directed Finance, Accounting, IT, HR, Legal, outsourced services (facilities, security, food service, hotel/conference center, and student housing), strategic planning, investments, and all business matters across the school worldwide. Led Marketing and Communications for two years and provided oversight of Russian subsidiary and French campus. Served as Corporate Secretary of the Board and as staff officer for Finance, Audit, Executive, and Nominating & Governance Committees. Responsible for up to 200 staff.
Successfully led effort to raise funds required for investment in program diversification as sluggish demand for full-time MBA programs put pressure on operating results. Engaged municipal financing team at BofA Securities to restructure existing $17M debt and issue $10M in new bonds. Through diversification, achieved seven years of operating surpluses.
Spearheaded school strategic plan review and impact on campus master plan. Determined 75 acres of undeveloped land would not be needed for campus development, so obtained general plan amendment and re-zoning from city to accommodate highest and best use, significantly increasing land value.
Negotiated and secured replacement letter of credit on bonds with JPMorgan Chase for an unprecedented five-year period in aftermath of 2008 financial crises as current bank was exiting business. Simultaneously negotiated an interest rate swap on bonds that locked interest rate at 1.8% over this five-year period and also established a line of credit.
Established unique outsourcing contract to consolidate/provide multiple campus services (facilities, security, food service, hotel/conference center, and student housing). Under new agreement, achieved more favorable financial terms, food services generated annual profits of 10%, and student and client satisfaction levels dramatically improved for all services.
Oversaw significant growth in Russian training business (quadrupled in size over six years to $10M). Worked closely with expatriate leader during 2008 financial crisis to avoid need for cash infusion as revenue shrunk 65%. Kept business intact during crisis and doubled revenue since then.
Assistant CFO & Chief Administrative Officer
THUNDERBIRD SCHOOL OF GLOBAL MANAGEMENT,
400 E Van Buren St,
Phoenix, AZ
11/01/2000 - 3/01/2005
Salary: $97,266.00 USD Per Year
Hours per week: 56
Duties, Accomplishments and Related Skills:
Reporting to President & CEO, led Finance, Accounting, Legal, and strategic planning and provided oversight of Russian subsidiary. Served as Corporate Secretary of the Board and as staff officer for Finance and Nominating & Governance Committees.
Directed staff of 20. Additional title of CAO added in 2003 to recognize growing influence across organization.Led critical organization restructure working closely with the President and the rest of the senior management team. Developed early retirement program as strategy to reduce ongoing costs to address anticipated revenue decline. 50 faculty and staff accepted early retirement, achieving an annual savings of $4M (8% of budget).
Successfully engineered and executed a 10% reduction in the workforce with no legal challenges in the wake of 9/11, when there was a precipitous drop in non-US students. Achieved 7% reduction in annual costs to offset loss of revenue.
Oversaw significant growth in Russian training business (quadrupled in size over six years to $10M). Worked closely with expatriate leader during 2008 financial crisis to avoid need for cash infusion as revenue shrunk 65%. Kept business intact during crisis and doubled revenue since then.
Developed and implemented new quarterly results-based performance management system in conjunction with outside consultant and other senior leaders, dramatically improving communications between employees and supervisors and ensuring organization was focused on highest priorities. Follow-up survey revealed 80% of employees preferred new system.
Guided cross-organization team, with support of external higher education technology expert, in review of learning management systems to replace current proprietary system. Open source system selected and implemented which reduced overall cost by $500k. New system significantly improved functionality for both students and faculty.
CFO & Chief Administrative Officer
BANK ONE CORPORATION,
1 Bank One Plaza Chicago
Chicago, IL
1/01/2000 - 12/01/2000
Salary: $95,119.00 USD Per Year
Hours per week: 56
Duties, Accomplishments and Related Skills:
Reporting to Division President, directed risk management, strategic planning and project management for division with 700 employees and $1B in assets; coordinated board activities, and worked with operating units to enhance profitability. . ? Conducted strategic review of Private Banking and Border Banking businesses and provided recommendations to Division President, improving procedures for mitigating money laundering risks; business operations were reorganized to better serve customers and improve profitability.Serve as a finance leader and playing an important role in enhancing the organization’s financial and operational performance. Provide adequate, accurate and timely data and analysis to support strategic decision-making. This includes providing advice and information that helps business lines and other operating departments operate as efficiently and effectively as possible.
Provide leadership and support to all financial and operational functions, including effectively guiding, supporting and monitoring all financial transactions.
Provide leadership and mentoring to the finance and accounting team, ensuring an optimum level of performance in a positive team environment. (5 staff accountants and 1 manager)
Support the planning, analysis and efficient execution of business opportunities that promote growth of the organization.
Preside over all aspects of accounting and finance processes and controls.
Responsible for annual corporate financial reporting and tax estimates.
Control, provide and oversee the financial data for Financial Statements & Tax Return preparation/ reporting for the firm and related entities.
Establish and monitor internal control processes required to manage and grow the business.
CFO of Commercial Banking Services
Commercial Banking Group, Dallas, Texas
2350 Lakeside Blvd
Richardson, TX
1/01/1999 - 12/01/1999
Salary: $92,415.00 USD Bi-weekly
Hours per week: 56
Duties, Accomplishments and Related Skills:
Dual reporting to Division Head/President and line of business CFO; directed all financial services including budgeting, forecasting, profitability and investment analysis, product costing, and financial consulting for Commercial Banking Services Division with 7,000 employees and an annual expense budget of $400M and International Corporation with 1,900 employees and $5B in assets. Key member of executive leadership teams. Led team of up to 16 managers and professional staff. ? Integrated financial support for International Banking, Treasury Management, and Commercial Banking Services after Bank One’s merger with First Chicago NBD. Achieved 30% staffing reduction, improved financial reporting and analysis, and redirected existing resources to focus on better analysis of new products and services, and business profitability.
Directed selection and implementation of SAP cost allocation system using activitybased costing methodology. Achieved significant improvement in understanding of cost drivers and profitability of products and markets.
Serve as a finance leader and playing an important role in enhancing the organization’s financial and operational performance.
Provide adequate, accurate and timely data and analysis to support strategic decision-making. This includes providing advice and information that helps business lines and other operating departments operate as efficiently and effectively as possible.
Provide leadership and support to all financial and operational functions, including effectively guiding, supporting and monitoring all financial transactions.
Provide leadership and mentoring to the finance and accounting team, ensuring an optimum level of performance in a positive team environment. (5 staff accountants and 1 manager)
Support the planning, analysis and efficient execution of business opportunities that promote growth of the organization.
Preside over all aspects of accounting and finance processes and controls. Responsible for annual corporate financial reporting and tax estimates.
CFO of International Corporation
Commercial Banking Group, Dallas, Texas
2350 Lakeside Blvd
Richardson, TX
1/01/1998 - 11/01/1998
Salary: $92,219.00 USD Bi-weekly
Hours per week: 56
Duties, Accomplishments and Related Skills:
Dual reporting to Division Head/President and line of business CFO; directed all financial services including budgeting, forecasting, profitability and investment analysis, product costing, and financial consulting for Commercial Banking Services Division with 7,000 employees and an annual expense budget of $400M and International Corporation with 1,900 employees and $5B in assets. Key member of executive leadership teams. Led team of up to 16 managers and professional staff. ? Integrated financial support for International Banking, Treasury Management, and Commercial Banking Services after Bank One’s merger with First Chicago NBD. Achieved 30% staffing reduction, improved financial reporting and analysis, and redirected existing resources to focus on better analysis of new products and services, and business profitability.
Directed selection and implementation of SAP cost allocation system using activitybased costing methodology. Achieved significant improvement in understanding of cost drivers and profitability of products and markets.
Serve as a finance leader and playing an important role in enhancing the organization’s financial and operational performance.
Provide adequate, accurate and timely data and analysis to support strategic decision-making. This includes providing advice and information that helps business lines and other operating departments operate as efficiently and effectively as possible.
Provide leadership and support to all financial and operational functions, including effectively guiding, supporting and monitoring all financial transactions.
Provide leadership and mentoring to the finance and accounting team, ensuring an optimum level of performance in a positive team environment. (5 staff accountants and 1 manager)
Support the planning, analysis and efficient execution of business opportunities that promote growth of the organization.
Preside over all aspects of accounting and finance processes and controls.
Responsible for annual corporate financial reporting and tax estimates.
Control, provide and oversee the financial data for Financial Statements & Tax Return preparation/ reporting for the firm and related entities.
Establish and monitor internal control processes required to manage and grow the business.
Monitor banking activities of the organization.
Financial Project Manager - to Southern Region Finance Manager
Retail Banking Group, Dallas, Texas & Phoenix, Arizona
90 W Central
Eagar, AZ
3/01/1995 - 5/01/1998
Salary: $72,729.00 USD Per Year
Hours per week: 56
Duties, Accomplishments and Related Skills:
Reporting to Line of Business CFO, directed all financial services including budgeting, forecasting, profitability and investment analysis, product costing, and financial consulting to the National and Regional Retail Banking Groups. Key member of the regional management teams. Led team of up to eight managers and professional staff. ? Worked closely with the CFO of newly formed Consumer Bank line of business; coordinated consolidation of several finance groups into a cohesive team. Assessed staff competencies, skills, and experiences in all regions.
o Recommended new staff alignment and identified training/recruiting needs, building on best practices through standardization of staffing model and financial reporting and analysis.
Monitor and control accounts receivables. Closely oversees Business Office functions to ensure cash collection goals are met, and net revenue is properly stated. Improve the profitability of the hospital. Continually monitor costs in all areas, especially staffing as it relates to patient volume.
Develop and monitor policies and procedures within generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced hospital operating costs, and increased revenues.
Prepare monthly financial statements, financial packages, and other informational reports/analysis
Provide reconciliations, account analysis, and other information for Reimbursement Department, Tax Department, Auditors, etc., to aid in preparation of reports. Prepare annual budget in conjunction with UHS standards. In cooperation with management and department heads, reviews prior financial results and discusses anticipated changes to highlight future needs and trends of the facility.
Education:
Colorado State University,Dual Major Fort Collins, CO United States
Master's degree 5 / 1994
GPA: 3.7 of a maximum 4.0
Major: Business Administration & Financial Accounting Minor: English
Job Related Training:
Global Education Executive
Administration/Operations Leader
Chief Business Officer / CAO / CFO
Strategic Financial Leadership Institutional/Business Planning ? Business
Development/Growth ? Organization/Culture Change ? Operational Excellence Debt
Restructure/Banking Partners ? Governance/Risk Management
Customer/Stakeholder Relationships ? Outstanding Communicator
Language Skills:
Latin
Spoken
Advanced
Affiliations:
Arizona Society of Certified Public Accountants - member
Financial Executives International - member
National Association of College and University Business Officers - member
References:
Additional Information:
An accomplished Higher Education Administrator and Financial Executive, Chief Business Officer, CFO, and CPA with an exceptional record of success in leading institutional and financial strategic/business planning and budgeting, administration/operations management, investment/business growth, governance and risk management for the world’s #1 ranked school of global management. Initiated and directed global strategic initiatives and projects increasing organizational effectiveness, culture change and profitability. Additional executive leadership experience in international/commercial/retail banking as Chief Administrative Officer, CFO and Controller. An outstanding communicator, relationship and team builder who creates win-win partnerships with key stakeholders. Experienced board member including leadership roles chairing boards
and various committees. PROFESSIONAL
ASSOCIATION MEMBERSHIPS
Arizona Society of Certified Public Accountants
Financial Executives International
o 2-time finalist in Arizona CFO of the Year Award
CFO Alliance
National Association of College and University Business Officers
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