Financial Planning Sr Director

ERIC J. PROVENZANO

*** ******** ****** ~ Wellsburg, WV 26070

304-***-**** ***********@*****.***

Corporate Accounting & Finance Executive

Results-driven accounting/finance executive with MBA supplementing over three decades of experience in financial management across varied industries (including in-house and consulting). Proven ability to utilize and modify existing systems to answer complex questions and improve accuracy of forecasting and decision-making. Able to pick up new industry needs immediately and effectively. Proficient in mainstream accounting software – Oracle Cloud, Sage X3, MiSys, Axis, Microsoft NAV, Comet, Hyperion, Oracle Financials, PeopleSoft, SAP, JD Edwards, Epicor. MAS 90, MS Access / Excel / Word / PowerPoint, Power BI, and legacy systems such as Lotus 1-2-3, Real World, BPCS, and RPG with experience directing implementation of enterprise accounting systems. Degrees include MBA and BA in Economics concentrating in accounting.

Strengths:

Corporate Financial Planning Forecasting & Revenue Projections International Tax Planning & Reporting Budget / P&L Management Financial Planning & Analysis (FP&A) GAAP / SOX / SEC / IFRS Compliance

Cash Flow Management Capital Investment & M&A Planning Cost Benefits Analysis

ERP System Implementation Job Costing/Cost Accounting

Representative Accomplishments

US CONTROLLER of PE backed company startup in US with multiple US facilities for International Manufacturer headquartered in Belgium. Responsible for all financial systems, and converting reporting from US GAAP to Belgium GAAP

CONSULTANT – Successfully stepped into consulting roles to fill needs as Corporate Controller, correct deficiencies with regard to reporting, both financial and tax.

RITCHEY METALS – Modernized Accounting System, Managed & Implemented ERP System, coordinated financial institutions to secure funding for equipment expansion

CFOAM LLC – PE backed company, Modernized Accounting System, Managed & Implemented ERP System, coordinated with banks and investors to secure funding for proposed expansion.

NF&M INTERNATIONAL – Established Financial Budgets, Standard Cost Models, Member of Steering Committee for the selection and implementation of Axis Software (ERP Manufacturing System).

FREIGHT CAR AMERICA – Greatly reduced month-end work hours by streamlining monthly closing activities and increasing accuracy of tracking by rewriting internal financial reporting. Generator and Motor Services – Substantially increased accuracy of forecasting and accounting by restructuring general ledger (GL) to enable reporting on job-costing basis.

KEYMARKET COMMUNICATIONS – Directed configuration, implementation, and company-wide migration of accounting software to Sage MAS-90 from Real World Legacy Accounting System.

Ability to step into and make a positive impact across all departments.

Professional Experience

Desotec US – 2/24 to Current

US Controller of PE backed International Company

Hired to spearhead setup of accounting system for multiple US locations, reporting to the Corporate Office in Belgium

Translated the differences in US GAAP to Belgium GAAP, while working with Corporate CFO to give a better explanation of the vast differences.

Created the budgeting process and built the 1st Annual Budget along with Quarterly Forecasts.

Presented Annual Budget to Board of Directors.

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Create and Present Monthly Financials, including KPI’s and detailed actual to budget variance analysis.

Established all accounting systems used in the US

Set up sales tax reporting in 40 states.

Work with HR to select health insurance carrier, currently reviewing the payroll provider as we’re looking for a more effective option.

Currently using Microsoft NAVISON ERP system.,Navision being phased out to be replaced with Microsoft Dynamics.

Home office in Belgium currently on Belgium GAAP, will be converting to IFRS when switching Microsoft Dynamics.

Currently part of steering team to install Microsoft Dynamics. Working for Belgium team with the ERP set-up so for the US will adhere to US GAAP, but then be converted to IFRS for consolidation.

Work with outside CPA firm to file corporate Federal and State income tax.

Setup and administered sales reporting tax for 40 states.

Work with outside CPA firm in Belgium for a year end audit.

Prepare and present the data for monthly Board of Directors meetings.

Meet with various board members to explain the difference of US GAAP reporting vs Belgium and IFRS GAAP as well as detailed actual to budget variance explanations

KFORCE STAFFING - 01/23 to 2/24

Consultant

Consulting as an Interim Controller for a Medical Supply MFG. Currently in the process of reviewing the facility’s standard costing methods and looking for ways to improve reporting of production and all production cost variances.

Upgrading From Oracle to Oracle Cloud ERP

Reevaluating costing standards to properly reflect manufacturing performance

Creation and Presentation of Annual Budget and Quarterly Forecasts

Revising KPI Reporting to enhance reporting metrics including weekly financial reviews

CREATIVE FINANCIAL STAFFING 09/21 to 12/22

Consultant

Hired as an Interim Corporate Controller for Producers Supply Company in Waynesburg PA.

Completed an audit of all financial systems which included revising / updating many of their financial reports.

Updating internal procedures to ensure accuracy.

Worked with external accounting firm to compete year end taxes and set up tax planning for current year.

Implemented Annual Financial Budgets with Updated Forecasted P&L’s

Completed multi-state sales tax compliance audit, with recommended changes.

Working with external firm to handle multiple state sales tax compliance.

Handled all Financial Reporting, all HR duties, worked with external IT firm to ensure IT system functionality.

Worked with new organization to transfer all financial responsibility

09/21 - 12/21 Consulted as a Corporate Controller under Creative Financial Staffing for Stoelzle Glass in Monaca PA.

Anchor Hocking facility was acquired by Stoelzle Glass. Worked with transition from Anchor Hocking centralized accounting system (Oracle) based out of their corporate office to a decentralized accounting system with all accounting now being done in house. Completed an internal audit of all accounting systems to ensure the transition to Stoelzle’s ERP system would be accurate.

RITCHEY METALS COMPANY, INC – 11/19 to 4/21

Chief Financial Officer (CFO)

Initiated plans for Sage X3 ERP system.

Modernized accounting system & implemented a departmental/job costing system

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Revised cash forecasting models—enabled prediction of future cash receipts matched with cash needs to better manage cash flow.

Provided weekly cash flow projections showing 6-8 week activity, and then a 12 month forecast.

Educated executive team on understanding the financials.

Modernized purchasing department and moved it to a centralized purchasing philosophy.

Coordinated with banks and external lending institutions to maximize use of $15m line of credit, which includes required reporting for the lending institutions.

Worked with financial institutions to secure funding for a multi million-dollar equipment expansion.

Worked with external auditors for year-end financial audits and with bank auditors to ensure compliance with bank covenants

Created and implemented annual financial budgets and monthly reporting for Actual vs. Budget.

Direct responsibilities included: Managed all financial reporting (internal and external), purchasing, shipping / receiving, inventory, human resources, and IT services.

Independently managed operations during COVID pandemic.

CFOAM, LLC, Triadelphia WV—05/2017 to 10/2019

US Chief Financial Officer of PE backed Company

Modernized accounting system including new software (Sage)

Reviewed/analyzed and selected an ERP system. (MiSys)

Designed and configured the ERP system to fit needs of the shop floor.

Collaborated with Board of Directors in Australia to publish all required quarterly reports for Australian Stock Exchange.

Collaborated with Chairman of the Board, CEO, and COO to create and publish quarterly press releases.

Managed external auditors from Australia during year-end financial audit.

Managed cash flow to maximize economic impact.

Provided weekly cash flow projections. The cash flow forecast showed weekly activity for 6- 8 weeks, and then monthly totaling a 12-month forecast.

Completed the facilities first operations budget.

Built model to show impact of proposed expansion of tripling the size and workforce of the facility.

Worked with banks and investors to secure $5 million additional funding for proposed expansion.

Managed accounting staff, HR and sales support staff.

MALLET AND COMPANY / ROBERT HALF MANAGEMENT RESOURCES, Carnegie PA -07/2016 to 03/2017

Interim Controller

Recruited as an Interim Controller to review financial status which included a complete audit of all financial activity, a detailed balance sheet review, a review of product job costing, and all financial reporting.

Based on review results, all balance sheet deficiencies were corrected, internal reporting updated and re-worked methodology of projected sales product costing to better reflect actual costs and margins.

NF&M TITANIUM INTERNATIONAL, INC., Monaca, PA—02/2013 to 06/2016

Controller ~ Promoted from Financial Consultant

Financial Consultant hired to review financial and cost accounting principles, including analysis of financial status, all accounting activity, product job costing, and all financial reporting including internal and external reports.

Built financial model for proposal of new product line to senior management ($20M} Investment which included facility expansion, purchasing and installation of capital equipment and increasing the production workforce by 90%.

Promoted to Controller January 2014.

Worked with outside programmer to correct and develop reporting utilizing their current Comet Software for both internal and external reporting.

Instituted cross training among all direct staff.

Worked with engineering staff and established standard operating costs for new product line.

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Expanded budgeting process to include quarterly financial forecasts and quarterly calculation of lower cost of market inventory valuation.

Member of Steering Team that reviewed and selected a Manufacturing and Accounting Software System, Axis Manufacturing System, from Aptean.

Developed and installed within Axis Software complete financial system, including chart of accounts, job cost reporting, internal and external costs tracking and all internal and external financial reporting.

Worked with external audit firm to issue year-end audited financial statements.

FREIGHTCAR AMERICA / ROBERT HALF MANAGEMENT RESOURCES, Johnstown, PA—03/2010 to 04/2010 and 09/2011 to 02/2013

Chief Financial Consultant

Re-recruited based on previous consulting role as Interim Operations Controller at Freight Care America.

Worked directly with Chief Financial Officer (CFO) and independent third-party auditors to ensure Sarbanes-Oxley (SOX) compliance and managed quarterly and year-end earnings releases, plus corporate tax return preparation.

Restructured monthly closing activities, including revision of internal reporting to increase accuracy.

Developed and implemented training for senior accounting staff on advanced functions of Oracle Financials.

Played active role in SEC filings.

Developed specialized financial reporting and presentations for Board of Directors.

Aided in management of cross-functional accounting staff of five professionals handling Accounts Payable (AP), Cost and General Accounting departments.

GENERATOR AND MOTOR SERVICES, Monroeville, PA—04/2010 to 09/2011

Chief Financial Officer (CFO)

Reported to corporate office in United Kingdom and directed all financial activity for North and South America Operations – accounting, sales forecasting, revenue projections, budget, job costing, growth, acquisition planning, cash management and capital spending.

Managed Accounting Departments – Accounts Payable (AP) and Accounts Receivable (AR), as well as Human Resources, IT, Payroll and Purchasing Departments.

Held oversight for financial and profit and loss (P&L) statements, general ledger (GL), cash flow and tax reports.

Managed financial reporting in compliance with International Financial Reporting Standards (IFRS). Prepared and presented annual operating budget and forecasts (annual, monthly, weekly).

Prepared and presented annual operating budget and forecasts (annual, monthly, weekly).

Worked closely with external audit firm to issue year-end audited financial statements.

Reorganized Accounts Receivable and Accounts Payable departments to ensure proper internal control.

Reviewed and changed company policy to adhere with formal policy of United Kingdom home office.

Revised general ledger to enable reporting on job-costing basis.

MOUNTAIN STATE CARBON, Follansbee, WV—12/2005 to 03/2010

Controller ~ Promoted from Senior Accounting Consultant

Directed cross-functional team of Staff Accountants, Accounts Payable, Payroll, and Accounts Receivable staff.

Managed all financial data for joint venture by Wheeling-Pittsburgh Steel and Severstal of North America – financial statements, GL, P&L statements, and tax reports; tracked variances.

Presented monthly financials to Board of Directors and developed and presented annual operating budget to Board of Directors. Oversaw all financial forecasting and tracking.

Led audit team in setup and maintenance of compliance with Sarbanes-Oxley (SOX) regulations.

Trained staff on Oracle accounting system and advanced Excel and Access functions.

Worked closely with external audit firm to issue year-end audited financial statements.

KEYMARKET COMMUNICATIONS, LLC, Pittsburgh, PA—07/2002 to 12/2005

Corporate Controller

Managed financial data for three companies, including 24 radio stations as well as two corporate entities – financial statements, annual forecasts and budgets, variances, etc. Managed remote accounting staff of accounts payable, payroll and business managers at numerous radio locations.

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Maintained internal accounting reports and external accounting reports for bank loan compliance, music license fees, etc.--working with external auditors during annual audits.

Managed accounts receivable and accounts payable while maintaining proper internal control, setting and adhering to company policy and formal reconciliation of all accounts.

Planned and managed accounting system migration and trained staff on new systems.

Revised company policies to increase internal controls and reduce risk.

FOX SPORTS NET, Pittsburgh, PA—03/1999 to 07/2002

Director of Finance – Ad Sales Division

Prepared and reviewed all financial statements (GL, P&L, cash flow reports, tax reports) and reports comparing sales projections to budget, forecast, and prior year.

Created report showing weekly P&L and projected monthly P&L with explanations of budget / P&L variances.

Forecasted monthly and year-to-date financial statements and developed / presented budgets.

Maintained internal accounting reports for local management and external accounting reports for corporate.

Managed AP and AR departments and internal controls, compliance, and formal reconciliation of all accounts.

Trained staff in use of JD Edwards accounting software and enterprise traffic system.

ADDITIONAL EXPERIENCE:

TITANIUM METALS CORP --Cost Accounting Manager 03/1996 to 03/1999 Implemented Six Sigma/Lean Manufacturing while controlling cost. Part of SAP ERP system implementation team.

STONE CONTAINER CORPORATION-- 03/1985 to 03/1996. Promoted to Plant Controller, managed accounting/finance for two manufacturing facilities.

WISEMAN HUTZEL CPA FIRM, Staff Accountant --8/1984 to 03/1985

Education

Master of Business Administration (MBA)--FRANCISCAN UNIVERSITY, Steubenville, OH, May 2010

Bachelor of Arts (BA) in Economics – Major Concentration: Accounting--BETHANY COLLEGE, Bethany, WV—May 1984

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