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Cost Manager with software implementation experience

United States
November 25, 2009

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Louis M. Chiavetta

**** **** *** *****

Cumming, Georgia 30028

Home: 678-***-****



Business Planning & Analysis / Financial Reporting & Accounting / Cross-Functional Leader

Result driven finance professional with a proven record of accomplishment in planning and leading comprehensive strategies in support of business goals and objectives. Expertise in directing the entire business planning and analysis process. Solid leadership skills. Capable of building and guiding top performing teams. Adept at communicating with management, internal departments, and external auditors to coordinate overall efforts. Core competencies include:

• Budget Preparation • Six Sigma Silver Belt Certified

• Cost Accounting / Product Costing • Lean Mfg. & Inventory analysis

• Sarbanes-Oxley Compliance • SAP Implementation, PeopleSoft, Axapta

• Capital Expenditure Analysis • Team building & Talent Development


WIKA Instrument – $75M Pressure gauge manufacture November 08 to August 09


Accomplishments: Led a team that reduced parts and finished goods inventory by $2M in 5 months.

Led Kaizen that resulted in a much needed reconciliation of raw material inventory.

• Month end close process. Manage inventory close and management reporting.

• Responsible for income statement and balance sheet consolidation.

• Provide analysis on Sales, COGS, Overhead, Headcount, Inventory, and fixed assets.

• Implemented cost center spend analysis and reporting to ensure managers stay within budget.

• Responsible for the financial piece of the physical inventory and reconciliation/analysis of $20M of inventory including $3M in reserve for obsolete and slow moving product.

CIBA Vision – $1.5B Contact lens manufacture June 03 to October 08

Controller Global Research, & Development July 07 to October 08

Accomplishments: Developed new product revenue metrics that measures R&D effectiveness.

Implemented a global project budgeting process that ensured optimum resource allocation.

• Responsible for the performance management of the $80M Global R&D and $20M Global Marketing target including $25M Capital Expenditure budget and 300 employees in 3 countries.

• Measured spend by project for the innovation product portfolio with a total eNPV > $1 Billion.

• Worked closely with Booze&co. to reduce R&D spend by 10%. The proposal included off shoring/outsourcing various R&D functions, better managing strategic supplier relations and improving internal processes.

• Created an Asian R&D facility in Singapore that supports the large Manufacturing footprint in APAC.

• Provided financial support to the brand marketing teams.

• Conducted financial reporting and variance analysis for R&D and Global Marketing.

Financial Analyst – Global Supply Chain November 04 to June 07

Accomplishments: Earned a Silver Belt by leading a Six Sigma project that saved $1.4M in material scrap.

Led staff of two financial analysts. As a result of strong development plans, both received promotions.

• Responsible for the annual target, operative planning, and reporting process of the $100M Molding budget including $30M in Capital Expenditure, 650 employees and 405M lenses.

• Prepare/present monthly SMU results and explain variances of actual results to expected results.

• Implemented SAP in Molding Finance.

Louis M. Chiavetta- Continued


• Worked with business unit R&D teams on new product/process developments.

• Act as liaison between production operation and corporate finance.

• Worked with Gold Belts on continuous improvement initiatives. Valued projects and tracked savings.

• Analyze capital project proposals, track spend and manage capital projects.

• Developed Manufacturing’s operational dashboard metrics.

• Ensure SOX control processes are followed.

Senior Cost Accountant June 03 to October 04

• Cycle lead for Sarbanes-Oxley (SOX) inventory and production implementation. Covering all aspects of inventory from receipt of Raw Material through production to distribution of finished product. Includes standard cost development, compliance with good manufacturing practices, quality assurance, and product recall. Manage the documentation process (SOP’s and Flowcharts) for 90 control activities between multiple plants, personally tested 30 controls and manage the remediation phase.

• Developed and implemented standard operating procedures and desktop work instructions to improve efficiency.

• Maintain standard cost and ensure correct product setup and configuration within various financial systems.

• Monthly reconciliation of $15M of Canadian inventory and $60M of affiliate multi-national liabilities.

• Extensive inventory reserve analysis for $120M Inventory and over 60K skus for Atlanta and Canada.

• Analyze inter-company purchase price variance for freight, product, and foreign exchange.

• Instrumental in moving the close process from a 5 day close to a 2 day close.

Visible Genetics (Acquired by Bayer) – $20M Diagnostic kit manufacture June 01 May 03

Cost Accountant Manager

• Responsible for all day-to-day costing activities for 3 manufacturing plants.

• Monthly inventory and work order close for manufacturing including budget to actual comparisons.

• Monthly reporting of inventory valuation, expiring inventory, production, production supplies, cost of quality, scrap, all manufacturing variances, and cost absorption accounts.

• Analyze and update all material, labor, burden, and overhead costs on $3M in inventory.

• Coordinate and interact with manufacturing, development, purchasing, and materials for proper financial accounting of inventory by showing managers how their transactions affect the financial statements.

Teltek/PBG – $30 M Contract metal manufacture June 98 to May 01

Cost Accountant Manager

• Reconciled inventory 4 manufacturing plants and over $7M in inventory.

• Recorded COGS and provided margin analysis for multiple product lines.

• Developed and maintained the hourly Burden Labor rate for activities used to value inventory at standard cost.

• Ensured the integrity of activity based cost data by reviewing data collection and training the shop floor employees. Resulted in a 25% decrease in the labor usage variance.

Senior Staff Accountant

• Responsible for the monthly closing process and the preparation of consolidated financial statements for 2 manufacturing plants and 8 service locations.

Ogden – $2.0B Conglomerate 1994 to 1998

Financial Analyst

• Responsible for the financial accounting and reporting for a $30M operation at the World Trade Center.


Bachelors of Science, Dual Degree in Economics and Finance, Canisius College 1992

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