Manager Management

STEVEN F. KORAB

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

Kennett Square, Pa 19348

********@*****.*** • (H) 610-***-**** • (M) 443-***-****

Results-oriented, strategically focused Finance Executive experienced in leading profitable growth for design and manufacture organizations. Driven by a strong belief in management by the numbers with a focus on execution and accountability. Substantial expertise in Financial Planning and Reporting, Internal Controls, ERP system implementation and production and inventory management.

Core competencies include:

• Financial Statement Preparation

• Financial Analysis

• Planning and Budgeting

• IFRS and GAAP regulations • Cash Management

• Capital Budgeting

• Supply Chain

• ERP system implementation

• FAR and CAS compliance

• Internal Controls

• Manufacturing cost expertise

• Multi plant, global leadership

• Lean Enterprise

• Government Accounting

EXPERIENCE

SMITHS DETECTION Edgewood, Maryland 2007 – Present

Division Controller

Direct the Finance organization for this $180M government contracts business including preparation of monthly financial statements, quarterly financial forecasts, annual budgets and strategic plans. Oversee general accounting functions, including working capital management, payroll, general ledger and financial analyses. Support all FAR regulatory requirements including DCAA audits as well as various internal and external audits. Presents the Group Directors and President with the financial forecasts and results of the business.

• Spearheaded implementation of SAP software that improved program cost tacking.

• Established high volume production line, standard cost and measurement processes.

• Strategically restructured financial reporting processes in accordance with organizational changes including the formation of a central accounting services group and SAP reporting structure, reducing departmental salary costs by 9%.

• Served as key leader in effectively managing 15% annual revenue growth.

SMITHS GROUP, Malvern, Pennsylvania, 2003 – 2007

Manager, Internal Audit

Responsible for risk assessment and audits of 65 sites located in North and South America covering Aerospace, Medical, Detection and Engineered Specialty products divisions with revenues of $4B annually. Assess and recommend improvements over internal controls, adherence to company policy, efficiency improvements and best practice covering finance, administration, IT, procurement, production, sales and marketing activities.

• Raised recommendations to improve regulatory compliance and operational efficiency and accuracy.

• Acted as site controller to support two external year end audits at two different business units.

SMITHS AEROSPACE, Malvern, Pennsylvania, 2000 – 2003

Plant Controller

Reporting to the Divisional VP of Finance, acted as the principle financial advisor to the site General Manager and executive staff. Led all financial aspects of this $48M design and manufacturing business unit including the development and implementation of internal controls, operating and capital budgets, strategic plans, forecasting and reporting revenues, profits, cash flow and orders. Scope of responsibility includes full general ledger, payroll, strategic costing, pricing, GAAP compliance audits, asset management, ERP system improvements and Information Technology.

• Transferred specifically to direct a “turn-around” of a financially failing business unit.

• Grew revenue by 90%, pre-tax profits from negative 4% to positive 14% with a 120% cash conversion.

• Requested by HQ to manage the Internal Audit team for North America.

SMITHS AEROSPACE, Clearwater, Florida 1997 – 2000

Director, Manufacturing Finance

Direct the finance group supporting over $180 million of annual production revenue for Defense and Civil Aerospace business for both the Florida and Michigan operations. Areas of responsibility includes sales and margins forecasting and reporting, inventory trend analysis, warranty provisioning, pricing and bidding analysis, manufacturing strategy formulation and performance measurement.

• Accountable for internal controls over manufacturing operations and compliance with FAR, DFAR and MMAS regulations.

• Reduced product costs by 15% over a four year span utilizing lean manufacturing techniques.

• Reduced finance department operating costs by 20%.

SMITHS AEROSPACE, Malvern, PA 1977 – 1997

Assistant Controller 1994 - 1997

Carried out general ledger functions, including account analysis and reconciliation, journal entries, and AR/AP. Prepared financial statements and management reports to corporate HQ.

• Consistently met deadlines while demonstrating strong analytical and problem-solving skills to achieve corporate objectives.

Production and Inventory Manager 1992 - 1994

Led production planning, store room, shipping and receiving and master scheduling functions.

• Stabilized production planning process after new ERP system implementation.

ERP System Project Director 1990 - 1992

Led Enterprise-wide Resource Planning system project that included needs assessment, education, software selection, training, pilot, cutover and stabilization activity.

• Concluded 18 month project in 15 months

• Delivered new ERP system $250 k under $1.8M budget.

Various Manufacturing and Finance Positions 1977 - 1989

• Held various positions ranging from Materials and Production planning in Operations through Credit and Collections and staff accounting positions in Finance.

EDUCATION AND CERTIFICATIONS

Bachelor of Science, Accounting & Finance (1984)

WIDENER UNIVERSITY – Chester, Pennsylvania

Masters of Business Administration, Accounting Concentration (1995)

ST. JOSEPH’S UNIVERSITY – Philadelphia, Pennsylvania

Certified Production and Inventory Manager (1992)

American Production and Inventory Control Society

SOFTWARE

Microsoft Office Products, SAP, ASK Manman, Oracle, Western Data System, Hyperion

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