Eric Wennerstrom Email & Phone Number

Schaumburg, Il, Us

Promoted as a key member of the senior leadership team to champion startup operations of this division. Responsible for all financial functions and operational/asset management functions including financing and treasury, pricing, credit decisions, accounting and audit, asset management, expansion into foreign markets, implementation of enterprise leasing platform, and implementation of all internal processes consistent with a startup operation. Direct, develop and mentor a staff of five and manage current assets of more than $150MM from 130+ airports.Finance Responsibilities▬▬▬▬▬▬▬▬▬▬▬✓ Developed a leasing and asset tracking operating system in Excel, which continued for the first three years of operation, providing for transparent reporting and future planning. Delayed hiring of accounting staff by 1 year, saving $100K in year one and delayed spending of IT resources in first two critical years of operation, yielding savings of a few hundred thousand dollars.✓ Structured accounting systems to measure shop efficiency including detailing shop costs assigned to individual units, versus being an expense line item on P&L. ✓ Instituted underwriting risk mitigation processes in reviewing customer credit. Resulted in $0 writeoffs in first 3+ years. ✓ Facilitated continued growth of Xced, by reducing credit risk of key customer and partially fixing cost of debt. Worked with outside banks to close non-recourse debt facility. This facilitated a fixed-rate cost of funds for part of Xced’s debt load and reduced credit risk of key customers, which was needed to facilitate early growth of the business.✓ Created pricing model, allowing Xced to understand IRRs on GSE assets and insight to optimal times to dispose of assets during their lives. Developed go-to-market strategy with non-standard pricing schemes (trade-ins, early terminations, usage-based charges, etc.)* Continued below *

Schaumburg, Il, Us

*Continued from above *Operations Accountabilities▬▬▬▬▬▬▬▬▬▬▬▬▬✓ Facilitated the company’s expansion into Canada, including Quebec. Facilitated the construction of lease contracts, assisted with financing assets using Canadian facility, and ensure compliance with CRA and provincial requirements. ✓ Ownership of software selection and implementation of an enterprise-wide leasing system (currently in contract negotiations). ✓ Coordinating with 4 other functioning systems (EBIS, Intacct, Adaptive, Salesforce), across the other two functional areas (operations and sales), to meet all customer needs.✓ Optimized captive shop operation to align with production with sales demand and allow for maximum profitability to Xced. Developed processes to ensure profitable decisions were made on equipment to refurbish (inspection and estimate, production queue). ✓ Developed shop KPIs critical for business success to measure productivity and efficiency of the shop (labor utilization, hourly shop cost), and ensure the captive facility is competitive with industry standards.✓ Groomed staff in junior positions into more senior positions within the organization. ✓ Established a process to monitor and optimize off-lease inventory levels and keep carrying costs of inventory portfolio as low as possible. ✓ Instituted utilization metrics for any equipment ready for use; established tracking and reporting for time-off-lease metrics; developed forecast for equipment coming off lease and into inventory, as well as for deliveries of equipment already ordered

Schaumburg, Illinois, Us

Reporting to the CFO, responsible for supporting the holding company and one subsidiary in several key areas including treasury, accounting for corporate books and all subsidiaries, systems, bank accounts, audit, budget, reporting, FP&A, planning, and forecasting. Emphasis on establishing processes and procedures for the organization. Managed departmental staff and revenues in excess of $246MM.✓ Sole member of the startup of SFH finance function instituting accounting policies and procedures; accounting system and asset system; FP&A for SFH and subsidiaries; treasury reporting; and bank accounts. ✓ Orchestrated the company-wide consolidated budget and 5-year plan process.✓ Spearheaded company-wide annual audit, and company-wide federal tax returns, as well as corporate insurance renewals.✓ Championed the implementation of company-wide Enterprise Risk Management process.✓ Directed process improvement initiatives for financial consolidations and related internal/external reporting.✓ Implemented 5-day accounting close (was previously 10+) to expedite analytics to executive management. Worked with other 5 subsidiaries to ensure compliance.✓ Developed treasury reporting and forecasting to assist in decision-making.Streamlined budget process, improving accuracy, transparency, and delivery deadlines to management and Board of Directors.✓ Championed process improvements to financial consolidation including automating portions of intercompany eliminations in Excel to accelerate consolidation time.✓ Supported the CFO with special projects including the renewal of the U.S. consolidated credit facility; business plan for new business to be launched; and improvement of financial metrics to be used in evaluating investment decisions.

Reporting to the CFO, promotion resulted in continuing to perform finance responsibilities while simultaneously restructuring IT group.Finance Responsibilities▬▬▬▬▬▬▬▬▬▬▬✓ Responsible for a varying and wide range of finance duties, specific responsibilities have included: financial consolidation and variance analysis, development of PowerPoint presentations to Board of Directors/banks/other internal and external parties, modeling and analysis of three-year strategic forecasts, ‘what-if’ scenarios (financial/liquidity/bank covenant impact), bank reporting and successful passage of quarterly bank audits, and other ad-hoc analysis.✓ Developed financial reporting package, giving Senior Management better vision into profitability and balance sheet accounts✓ Improved reporting on liquidity and liquidity forecasting, giving Senior Management better vision into future cash needs✓ Revamped three-year strategic forecast models, increasing accuracy and reducing turnaround time by 2+ days✓ Developed efficient bank reporting consolidation process, based on new bank agreement and requirements✓ Successfully passed all quarterly bank audits and substantially decreased number of audit findingsInformation Technology Accountabilities▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬✓ Directed and restructured the IT department to support company strategy. Oversaw all IT assets in the U.S., Mexico, and Wales. ✓ Outsourced the Network Administration/Desktop Support function, providing vast improvement in service levels and network management.✓ Reduced IT spending by over 5% per year by implementing more efficient management and auditing of costs.✓ Increased IT service levels by replacing staff members and implementing customer service requirements.

Reporting to the Controller, primarily responsible for consolidation of actual and forecast financials, reporting financial information to various internal and external parties, consolidation of bank reporting, liquidity forecasting, and tracking of asset-based loan facility.

Lake Forest, Illinois, Us

Reporting to the Director of Credit Services, responsible for expense budgeting and tracking for 29 departments, as well as variance analysis and various ad-hoc analyses. ✓ Streamlined budgeting/consolidation process by standardizing excel formats and automating consolidation process, reducing turnaround time by several days.✓ Worked with department heads to develop standard cockpit charts to measure departmental performance.✓ Participated in SAP implementation project by performing financial analysis to determine the financial impact of the SAP implementation to key areas of the Financial Services department including accounts receivable, credit, and cash processing.

Lake Forest, Illinois, Us

Reporting to the Branch Audit Manager, responsible for performing operational audits of branch locations and distribution centers throughout the U.S., Mexico, and Canada. Audits covered multiple financial and operation processes including revenue recognition, inventory management, cash handling procedures, markings and treatment of hazmat, building safety inspections, and compliance with other internal company policies.✓ Eliminated approximately 30-60 man-hours per month from audit preparation times by developing an automated process for one of the standard audit procedures of system data collection.

Bs, Finance

🎓 Mba, Finance, General