CFO
Chief Financial Officer Deborah Southwell, CPA, PMP
Current Summary EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009
Executive Summary Hands-on/Financial Professional experienced in strategic planning, operations and improved margins. Enjoys a dynamic environment and specialize in working with small to mid-market companies in process improvements, execution of business initiatives and building relationships. Consistently maintains a positive attitude in high stress situations and believes that professional respect and courtesy are vital in building relationships and teams. Industry experience includes Manufacturing, Private Equity, Technology, and International.
Summary of Qualifications Private Equity Experience Corporate Finance Audit and Bank Relationships Budgets / Strategic Planning Capital Planning
Managing Accounting Cycle Multi-Location/International Inventory and Cost/CAS Treasury Management Financial Modeling
Key Career Accomplishments
Manufacturing Process Cycles GAAP, IFRS, FAR, DFAR System Implementations (ERP) Internal Reporting & KPI’s Regulatory Compliance
• Financial Statement responsibility including Stat Audits, Transfer Pricing, VAT and regulatory reporting • Increased liquidity without increasing equity through improved inventory/shrink management and contact renegotiation. • Directed accounting and financial processes for $200 million manufacturing firm with multiple lines of business. Including for Treasury, Reporting, P&L management, monthly close, forecasting and budgeting as well as overseeing Accounts Payable, Billing, Accounts Receivable, Audit functions. • Identified and implemented process Improvements which reduced audit cost and length by 45%. • Oversite and responsibility for ERP system selection and implementation. • Coordinated 15 international entities/divisions and independent auditors on accounting/audit activities, procedural/operational reviews, and stat audits in preparation of initial successful S-1 Filing. • Developed and implemented methodology to improve the closing process and reach billing milestones in a timely fashion. • As Audit Expediter, expedited the annual audit requests and responses for multiple plants and countries. • Established internal control and review procedures for sales commissions submitted, resulting in elimination of overpayments.ww
Overview
EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009
Professional Experience Overview • • • • • • • • • •
Nerium International Skin Care – Director of International Accounting Visionary Industrial Insulation – CFO Rolland Safe & Lock – Interim Director of Finance Mavenir – Project Coordinator – Preparation of initial S-1 Filing, Audit Expeditor FDIC – Receivership Oversight Business Process Change Management –Documentation Pergan Marshall – North America CFO/Controller – Chemical Production Ericsson –Controller –T-Mobile Project Controller Queen’s Winery VinoSay Engraving – CFO Basel Solutions – International Compliance Director Arthur Andersen – Aviation, Financial Services, Manufacturing
Education & Certifications • • • • • •
Bachelor of Business Administration, Accounting CPA Certified Public Accountant PMP Certified Project Management Professional CGMA Chartered Global Management Accountant IFRS – International Financial Reporting Standards Certification Non-Profit – Corporate Governance Certificate- UTD | Various NFP Boards and Organizations
Other • Dallas Chapter Financial Executives International (FEI) – President • Dallas Business Journal – Nominee CFO of the Year • Dallas Business Journal – Judge – CFO of the Year • Professional Organizations include – Women in Manufacturing, AICPA, PMI, FEI (Financial Executives International)
Resume Details EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009
Nerium International, LLC, Dallas, Texas 2017 – 2018
Privately held consumer products company focused on wellness and anti-aging. An international relationship marketing organization with revenues generated from a global e-commerce platform in 15 countries. Director of International Accounting – Europe • Responsible for accounting standards and procedures outside of the United States including the coordination and completion of statutory audits globally. • Global entity reorganization, including managing and implementing new transfer pricing standards. • Finance responsibility for launch of new countries in Europe and Asia from a finance, pricing, reporting, and VAT perspective. • Responsible for hiring and managing a team to convert the accounting records from cash basis to accrual basis. • Procurement, customs, and Ops contact/touchpoint in finance. • Led the Finance Department’s responsibility for the implementation of a new ERP system. • Accountable for financial modeling, budgets and variance monitoring and corrective actions in Europe and Asia markets.
Queen’s Winery / VinoSay Engraving, Garland, Texas 2011 – Present
Privately held family winery who produces exclusively Honey Wine from a custom blended pure honey. Queen’s Winery sell their wines by personalizing custom engraved boxes. The workforce consists of veterans with over 25% of revenue donated to charity. Board Member, formerly CFO • Responsible for the treasury function, financial function, reporting, regulatory compliance, forecasting, and inventory. • Implemented manufacturing best practices resulting in some of the lowest inventory shrink and loss rates in the industry. • Navigated the compliance regulations and created a working marketing agent program with letter rulings to support the structure.
Visionary Industrial Insulation, Denison, Texas 2015 – 2017
Foreign private equity backed North American manufacturer of a high-performance industrial insulation which can withstand temperatures up to 1400°F. The jobs are predominantly large custom construction projects reported on a percentage of completion. Chief Financial Officer • Responsible for the treasury, financial reporting, regulatory compliance functions. • Raised $1 million through contract re-negotiation, managing taxes, analysis and implementing shrink and waste processes.
EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009 • Implemented new ERP job costing and tracking system to properly track costs and increase bid efficiencies by 35%. • Designed and implemented KPI’s including cash forecast, budgets and inventory forecasts and modeling. • Responsible for the implementation and oversight of the of ISO 9001 quality system certification. • Developed and implemented strategy, controls, and cost processes to achieve accountability and accuracy. • Coordinated process improvements which reduced the monthly close process by 50%. • Negotiated a 25% reduction in collateral requirements. • Introduced analytics tools which allowed the company to have deeper and richer strategic relationships with its customers and prospects, resulting in stability to the revenue stream.
Rolland Safe and Lock, Dallas, Texas 2014 - 2015
Privately held Rolland manufactures safes, locks and provides security solutions to North American. Interim Director of Finance • Responsible for the financial, treasury function, cash management, audit, and tax for the USA and Mexico. • Built banking relationships including negotiating loans and covenants. Responsible for borrowing base compliance. • Prepared short- and long-term financial forecasts for the USA and Mexico. • Introduced processes and procedures which reduced audit time and cost by 28%. • Integrated a new ERP system (NetSuite) to track inventory, costing, supply chain, costing and financials. • Reduced close cycle by 16 days and reduced accounts receivable days outstanding by 12%. Mavenir Systems, Dallas, Texas 2012 - 2014 Voice over IP software-based telecommunications that enables global communications across a variety of platforms. Audit Coordinator – CFO Suites – Director-Consultant • Audit Coordinator on 15 international divisions’ activities including S-1 prep. • Audit liaison between 15 international divisions and auditors. Three years of audits were performed in one calendar year • Reviewed and standardized reconciliation and reporting processes. • Coordinate financial-related efforts including monthly financial statement preparation, income tax, global tax, sales tax (VAT) and customs and recommended appropriate journal entries. • Revenue Recognition. • Work closely with a domestic team and international teams on reporting and regulatory compliance. • Reduced close cycle including consolidation of 15 international divisions from over 30 days to 15 days.
EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009 FDIC, Dallas, Texas
2011 - 2012 Federal Reserve Receivership Oversite Division. Oversight Analyst – Micah Mortgage Service – Contract • Performed financial analysis and forensic research to expedite receivership terminations. • Prepared Portfolio Analysis for seven banks with institutional assets of $3.7 million. • Isolated obstacles to receivership terminations and recommend action plans for resolution. • Identified expense anomalies and investigated underlying accounting issues related to complex transactions including loss share agreements, structured sales, and securitization. • Wrote the draft for the FDIC Receivership Oversight Financial Analytics manual section which is still in use today.
Pergan Marshall, LLC, Marshall Texas 2009 - 2011
North American division of a global organic peroxide producer. Manufacturing a full line organic peroxides providing products to plants in the US, Europe and China. Pergan Marshall is a wholly owned subsidiary of Pergan GmbH, located in Bocholt Germany. CFO – Solomon Edwards Group – Consultant • Led the North American Division of organic peroxide manufacturing through its post-purchase turnaround to profitability. • Developed in-house systems regarding staff, procedures, control deficiencies, and cost cutting measures, resulting in positive financial outcomes and improved internal and external relationships. • Developed key reports on inventory, costs, BOM, sales, profit & loss, cash projections, and HR that allowed evaluation and strategic planning which aligned with the PE group, and German ownership. • Implemented processes which reduced waste and shrink costs by 28%. • Implemented inventory and cost controls which resulted in a 6% collateral reduction. • Reduced average accounts receivable by 37 days resulting in improved cash flow. • Oversaw ERP upgrade implementation. • Implemented costing and bill of material reviews and processes to improve forecasting. • Developed physical inventory processes which reduced errors and inventory count errors by 30%.
Robert Half Management Resources, Dallas, Texas 2005-2009 Storm Cable Solutions – Vertically integrated manufacturer of cable and cable assemblies Controller/Consultant
• Implemented a functional General Ledger capable of producing financial statements consistent with best corporate reporting guidelines including Acquisition and Accounting Standards. • Identified SOX risks, developed necessary documents, implemented changes, and trained employees on new controls. All activities emphasized the value of compliance to enable clients to pass all external audits. • Provided knowledge transfer on processes and systems for new controller and staff.
EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009 • Coordinated audits conducted by financial institutions, suppliers, tax/regulatory agencies, and external auditors. • Closed and moved a division from California to Texas and Mexico while maintaining production and minimal financial impact. • Handled all treasury functions: daily borrowing base calculations, reconciliation of cash revolver, daily cash flow forecasts, variance analysis, wire transfer administration, negotiation of vendor credit terms/limits, and implementation of alternative operation funding methods.
Highland Capital Management - Investment firm that manages hedge funds, structured investment and distressed funds. Fund Specialist Consultant through Robert Half Management Resources • Private equity fund accounting. • Assured transactions properly flowed through the structures. • Hedge Fund Portfolio Valuations – Valuation review, including documentation and confirmation. • Financial Modeling of Structured Products (CDOs). • Validated the ABS- tranche valuation, payment schedules and initiated write-downs. • Income and balance sheet consolidations including foreign exchange. • Standardized the analytics of 13 CDO warehouses. • Ad hoc management reporting. • Assembled pro-forma financial statements and assisted in the analysis of a payment sequence. Ericsson – Telecommunications and networking manufacture and service provider.
Project Controller Consultant through Robert Half Management Resources • Project Business Manager | Financial Project Manager • Project management covering project setup, forecasting, financial tracking, project true-up, change orders and project closure during the UMTS Rollout. • Trained Project Managers and teams for UMTS PO revisions for US markets which allowed company invoice $40M and decrease backlog. • Served as a finance advisor for Directors and Project Managers, providing SAP training for periodic and specialized reporting. • Managed PMs including providing guidance and SOX support for project control group. • Improved the closing process which allowed WBSs to be billed in a timely fashion. • Implemented a governance framework to drive Project Management and Control behavior based on weekly KPIs and reporting of SAP project detail. Project margins were stabilized and consistently improving.
Moll Industries – Manufacturing and distributor of plastic molding. Interim Controller Consultant through Robert Half Management Resources
EMAIL: DEBORAH@DEBORAHSOUTHWELL.COM PHONE: (214) 578-8009
• Interim Controller during plant move who successfully managed the relocation of a manufacturing facility from California to Arizona. Worked with the attorneys, general contractors, and various state and local agencies to assure a smooth transition. Production levels were maintained so that orders were filled with no interruption in service or product to our customers. • Developed inventory and cost tracking system used for pro-forma financial statements and assisted in the analysis of a prospective financing or acquisition. • Prepared annual budget, monthly and quarterly forecasts, and cash flow projections. •
Implemented process improvement which reduced the monthly close process by 50%.
Other Professional Experience Basel Solutions, International Compliance and Training Coordinator Maramont Manufacturing, Plant Controller Trans-Central Airlines, Controller/CFO Arthur Anderson & Company, Sr. Accountant
Deborah Southwell, CPA, PMP Chief Financial Officer Email: DEBORAH@DEBORAHSOUTHWELL.COM Phone: (214) 578-8009