Strategic CFO Driving Enterprise Transformation

Steven M. Lothary, CPA, MBA

*** ****** ******, **********, ** 60194 847-***-**** *******@***.*** https://www.linkedin.com/in/steve-lothary/

EXECUTIVE PROFILE

Strategic Chief Financial Officer with more than 25 years leading enterprise transformation, financial strategy, and operational excellence for complex national associations and mission-driven organizations with revenues up to $50M. Proven advisor to CEOs and Boards, leading multi-year strategic planning, digital transformation, revenue diversification, organizational redesign, and long-range financial sustainability. Recognized for aligning finance, operations, HR, technology, and commercial functions to accelerate growth, improve decision-making, and build high-performing organizations.

CORE EXPERTISE

Strategic Planning & Board Leadership

Operational Excellence

Enterprise Transformation

Digital Transformation

Board and Executive Leadership

Financial Strategy

Revenue Growth Strategy

Financial Planning and Analysis

Organizational Change & Process Improvement

Capital and Reserve Planning

Enterprise Risk Management

Data-Driven Decision Making

PROFESSIONAL EXPERIENCE

Chief Financial Officer

American Society of Safety Professionals (ASSP) 2023 – Present

ASSP is a 501 (c) (6) not-for-profit professional trade association focused on providing educational opportunities for more than 35,000 safety professionals with operating revenues over $19.0 million. As CFO, lead and oversee the Finance, Facilities, Customer Service, Human Resources, and Sales departments of ASSP connecting the operations/service aspects to the strategic direction and future success of the Society. Liaison to the Board of Directors and the Finance Committee. Managed an overall staff of 30.

Led a five-year enterprise financial transformation that modernized reporting, automated AP, eliminated pension liabilities, strengthened reserves, reduced audit costs, and positioned Finance as a strategic business partner.

Sponsored a $1.5M enterprise digital transformation improving operational efficiency, member experience, cross-functional collaboration, and organizational scalability.

Oversaw a cross-functional team to develop a 3-year rolling forecast with emphasis of revenue diversification, revenue growth in new product lines, cost savings, and “what if” scenarios.

Evaluated strategic real estate alternatives that resulted in the sale of a non-performing headquarters asset, reducing operating costs while strengthening organizational reserves.

Redesigned the HR function into a strategic workforce planning organization supporting future growth, compensation modernization, and organizational effectiveness.

Partnered with Sales and Marketing leadership to transition from membership-focused selling to B2B enterprise partnerships and intellectual property licensing, expanding and scaling recurring revenue opportunities and long-term growth potential.

Repositioned IT from a reactive support function into a strategic business partner through PMO implementation, portfolio prioritization, and technology-enabled process redesign.

Senior Director of Finance

Emergency Nurses Association (ENA) 2017 – 2023

ENA is a 501 (c) (3) not-for-profit professional medical association focused on providing educational opportunities for over 50,000 ED Nurses with operating revenues over $30.0 million. Responsible for the financial oversight of ENA and the Foundation including accounting, risk management, and long-range financial planning. Liaison to external parties, including the Board of Directors, Finance Committee, auditors, insurance broker, commercial banking and financial institutions. Manage an overall staff of 7.

Redesigned chart of accounts/financial data capture and financial reporting to provide multi-dimensional reporting allowing further drill down capabilities and greater depth of information for decision making for both staff and leadership. Implemented fund accounting for the foundation.

Led the redesign of ENA’s budget process and implemented an automated budget system, increasing the speed of budget development and accuracy. Also formed worked teams to develop revenue projections and consensus using data to support increases.

With COVID programs, successfully advocated for PPP loans and forgiveness of $1.9M for 2020 and 2021 and $1.1M for the ERC program in 2022.

Led the development of financial dashboards and leading indicators, increasing visibility and enabling more proactive decision-making with senior management.

Implemented a pricing approach on ENA’s products and services for price increases of existing products and processes for new products. Also developed pricing model for subscription-based products, which resulted in renewable contracts further predicting and increasing ENA’s revenues for future years.

Renegotiated cost with manual publisher on ENA flagship products that will result in savings of over $200K to $600K annually over next nine years.

Developed three-year projections that are updated as conditions change to guide management’s decisions.

Automate all expense payments and expense reports, which reduced one FTE in the accounts payable process.

Director of Finance & Facilities

American Society of Anesthesiologists (ASA) 2008 – 2012, 2014 –2017

ASA is a 501 (c) (6) not-for-profit, professional medical association, focused on providing educational opportunities and lobbying support for over 50,000 members with operating revenues of over $50.0 million. Responsible for the oversight of accounting/finance/facility functions for ASA, 6 consolidated foundations, and an affiliated PAC. Liaison to external parties, including the Board of Directors, Administrative Council, Section on Fiscal Affairs, auditors, insurance broker, commercial banking and financial institutions as well as Board of Directors and Treasurers of ASA foundations. Manage an overall staff of 12.

Redesigned the chart of accounts/financial data capture and financial reporting to provide multi dimensional reporting allowing further drill down capabilities and greater depth of information for decision making for both staff and leadership. Implemented correct GAAP (Fund) Accounting for ASA, Foundations and Managed Orgs.

Implemented monthly dashboard reporting to leadership; focusing on major revenue sources of ASA and reasons for fluctuations from prior month, year and to budget, allowing leadership to proactively use funds for strategic initiatives.

Redesigned the budgeting approach of ASA to focus on detailed inflows of revenues, fixed costs of the organization, strategic plan needs, staffing costs and discretionary funding. This has greatly improved the accuracy of budgets allowing leadership to use the organization’s funds more efficiently.

Conducted several RFPs such as commercial banking and investment custodial services saving $75K annually, investment management services saving $50K annually and CPA firm services saving $20K annually.

Enhanced cash management by implementing weekly cash positions, forecasting out approximately one month of Operating cash needs and investing excess cash in either the long-term or short-term investment portfolio of ASA.

Chief Financial Officer

Congress of Neurological Surgeons 2012 –2014

The Congress of Neurological Surgeons (CNS) is a 501 (c) (3) not-for-profit, professional medical association, focused on providing educational opportunities for over 8,000 members and operating revenues of $13.1 million. Responsible for the oversight of accounting and finance functions of the CNS, CANE and the CNS Foundation. Liaison to external parties, including Board of Directors, Finance Committee, Strategic Planning Committee, auditors, insurance broker, commercial banking, and investment advisor.

Overhauled the CNS chart of accounts and financial reporting which resulted in multidimensional reporting of the CNS activities by both function and type. Introduced dashboard reporting on key metrics impacting revenue and expenses.

Changed the CNS fiscal year from a 6/30 year-end to 8/31 year-end, optimizing to align planned activities against the performance of the Annual Meeting.

Participated in a staff/volunteer work team to create the first ever Strategic Plan for the CNS and aligned budget activities to the Strategic Plan.

Revamped the budget process and philosophy to provide a greater understanding of the budgeted activities for decision makers, more formal and layered approval process, identification of strategic initiatives within the budget and a summary of revenues and expenses.

Formalized the investments into reserves and unreserved funds. Identified when investments will be used in operations and for strategic/onetime initiatives.

Implemented full accrual method of accounting (USGAAP) versus the prior practice of the CNS using the modified cash basis of accounting.

Created an organizational work group of both staff and volunteer leaders to focus on revenue enhancements, expense reductions and long-range planning to ensure the financial relevance of the CNS.

ADDITIONAL EXPERIENCE

National Safety Council Controller 2005 - 2008

American Academy of Dermatology Finance Manager 1999 - 2005

EDUCATION & ACCREDITATION

Illinois CPA Exam Passed 12/2003

MBA Northern Illinois University 2010

B.A. – Marketing Roosevelt University 1993

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