Jay O'Connell Email & Phone Number

Philadelphia, Pa, Us

Responsible for all aspects of financial operations and reporting as well as Information Technology and Credit operations. Primary executive to coordinate activities amongst executive team members and reinforce strategy.• Led the process to upgrade financial operations to current day standards involving monthly closings, scanned physical inventories, daily/weekly sales and margin reporting, and daily treasury tracking amongst other improvements.• Led the financial navigation process of the pandemic including enhanced cost and payroll analysis, Government funding options (i.e., PPP, ERP, etc.), and insurance claims due to COVID as well as the looting of our primary location in May 2020.• Introduced enhanced customer file maintenance standards and new types of customer data reporting to better match merchandise flow to appropriate clients as well as more targeted marketing campaigns due to enhanced supporting client data.• Revised the in-store checkout procedure from a line at the checkout counter to a more technology enhanced process facilitating the collection of client data throughout the selling process and expedited payment process at the completion of the selling process. This eliminated the most significant client and internal complaint regarding our operations.

Miami Beach, Florida, Us

Responsible for all aspects of finance (including Credit) as well as leadership role in the operations of the Company. During my tenure, we’ve transformed the business from an asset based eCommerce site to a fashion marketplace providing for the needs of our customers in a more efficient cash flow manner. Highlights of this role include:• Primary day-to-day responsibility for banking relationships including negotiation of bank amendments and on-going compliance tracking and reporting. • Revised department structure to support new business initiatives including development of marketplace and future growth to international markets.• Revised and enhanced processes and tools for budgeting, forecasting and re-forecasting future EBITDA and cash flow performance.• Led weekly Operations and Returns meetings to assess issues as well as coordinate efforts to achieve enhanced performance, internal control, and customer satisfaction.• Managed Credit department operations to achieve much better than industry average fraud and compliance performance including identification of tools to further enhance profitable credit operations.• Led the Finance team through the replatform process as the Company transitioned from a dated proprietary store front to a SaaS based store front providing enhanced store stability and increased site functionality.

Miami Beach, Florida, Us

Responsible for all aspects of financial accounting and reporting, payables processing and management (including factor communications) and day-to-day treasury functions. This position reported to the CFO of this e-commerce turnaround following the acquisition of Bluefly by a private equity group. During this role, select accomplishments included:•Led the process to complete the acquisition accounting and rationalize the general ledger and related reporting to the needs of the post-acquisition business•Stream-lined daily treasury management reporting and reconciliation procedures •Simplified payables tracking procedures to provide more accurate and complete picture for both merchandise and expense payables.

Responsible for all aspects of financial operations and reporting as well as Human Resources, and Lease Administration. During my tenure with MadRag / 10 Spot, select accomplishments are listed below which were achieved while supporting a 20% expansion of the Company's store count:•Led the process of obtaining the Company’s first line of credit to support both working capital and acquisition or growth related financing. Additionally, coordinated financing for several property acquisitions and refinancings.•Redefined the Company’s chart of accounts to establish lines of internal responsibility as well as launched the Company’s first budgeting and forecasting processes.•Established new standards of store staffing and payroll reporting which led to a reduction of payroll as a percentage of sales in excess of 120 basis points.vendor shipments to a single point of processing to facilitate enhanced store receiving processes on a scheduled basis.•Evaluated several potential acquisitions involving detailed lease analysis and financial modeling.

Leadership responsibilities at this $450 million retailer including all aspects of Finance, Management Information Systems, Real Estate and Lease Administration, Construction and Maintenance, Purchasing, and Office Services. Supervision responsibilities include a staff of eighty ranging from Vice Presidents to all levels of associates.•Led expense reduction effort which reduced spending by more than double our budgeted savings target. These savings were achieved throughout all departments within the Company, but primarily away from the customer.•Implemented a new store program at reduced rent and construction costs often in exchange for landlord rent reductions on other stores. Overall rent reduction program achieved several million of negotiated savings.•Managed to achieve free cash flow targets through working capital and capital expenditure management despite significant sales and gross margin shortfalls due to the recession.•Led the integration of new IBM POS terminals as well as the Company’s first in-store broadband network.•Completed the acquisition accounting for the Company transitioning to IFRS accounting from US GAAP. This process included substantial negotiations regarding the valuation of assets and liabilities primarily involving leases and fixed assets to minimize go forward expenses.

Responsible for various financial operations (primarily accounting, financial reporting, treasury, risk management, budgeting, and forecasting) as well as Lease Administration, Purchasing and Office Services. This involved management and oversight of a staff of fifteen. •Established stability within a team that had experienced close to full turnover in the past year and brought financial and operational reporting back under control. •Responsible for final review and execution of all real estate legal documents including leases, lease amendments, estoppels and subordination and non-disturbance agreements.

Responsible for day-to-day control of Operational Finance as well as Lease Administration, Purchasing and Office Services. This involved management and oversight of a staff of thirty-three including inventory control, expense payables, merchandise payables, sales audit, and payroll. •Improved store banking procedures by mandating use of the Chesapeake cash management system for all stores and ensuring proper monthly reconciliations for all store bank accounts.•Redesigned SOX requirements for internal and external testing to focus on significant financial control points resulting in a 40% reduction in testing and greatly reducing third party costs.

New York, Us

Responsible for financial reporting and control for the retail division of Polo Ralph Lauren which had annual sales of $1.1 billion supporting eight different store and on-line operating divisions. This involved management and oversight of a staff of twenty-five including financial reporting, inventory control, merchandise payables, cash and sales audit, fixed assets, and general accounting functions.

New York, Ny, Us

Responsible for financial reporting and control at Brooks Brothers which had annual sales of approximately $550 million. This involved oversight of a staff of forty involved in all aspects of the business including merchandise reporting, budgeting, inventory control, manufacturing accounting, treasury, tax, sales audit, lease administration accounts and expense payable, fixed assets, and general accounting. This position also required significant interaction with the operational executives of the business in order to facilitate proper control throughout the organization.

Gb

Responsible for all aspects of audit and financial consulting engagements involving public and non-public companies including domestic divisions of international corporations. •Transaction experience included IPOs, secondary offerings, debt offerings, and shelf registrations which included the development of registration statements, prospectuses, and comfort letters, addressing SEC comments, and coordinating efforts with senior management, attorneys, and underwriters.•Representative clients included: Tiffany & Co., Saks Fifth Avenue, The Limited, J. Crew, Vendome Group, Ebel, Royal Doulton, Unilever and Roche.