Kurt Smith Email & Phone Number

Smithville, Tennessee, Us

CHIEF FINANCIAL OFFICER & CHIEF OPERATING OFFICER (2019 to Present)CHIEF FINANCIAL OFFICER (2018 to Present)CONTROLLER (2017 to 2018) CHIEF OPERATING OFFICERLead a team of over 120 associates, with a focus centered on creating a data-driven work environment that eliminates waste, optimizes labor and material efficiencies while creating a high-quality product.Core Accomplishments:• Built, implemented and cultivated a proactive operating environment, transitioning from a reactive approach.• Improved employee turnover rates from 300% to less than 20%.• Directed initiatives to identify and outsource key maintenance areas.• Introduced Key Operating Indicators that reduced scrap, overtime, material, and labor variances.• Recruited and developed internal resources to fill crucial openings.• Identified opportunities to automate.• Continued to focus on building a safety focused work environment.• Decreased maintenance downtime.CHIEF FINANCIAL OFFICER & CONTROLLER FOCUSManage all accounting and financial reporting processes, AP, AR, Treasury and Cost Accounting. Oversee monthly, quarterly and year end reporting was completed in a timely manner free from material errors to capture an actual picture of how the business was performing in order to control and meet monthly/year end financial goals. Core Accomplishments:• Implemented a cycle count program, achieving 99% accuracy in inventory valuation, quantity, and location.• Significantly increased EBITDA through strategic financial management and process improvements.• Achieved a clean audit in 2018 and each year thereafter.• Developed and managed over 50 standard accounting operating procedures• Hired and trained accounting team members.• Eliminated low-margin, low-volume customers, focusing resources on more profitable opportunities.• Implemented a purchase requisition system.• Created detailed reports identifying opportunities for reducing costs..• Streamlined shipping and receiving processes.

Lexington, Kentucky, Us

ACCOUNTING MANAGER (2015 to 2017) Lead an accounting team to support the monthly, quarterly, and annual reporting of Tempur USA, which consists of two legal entities. Responsible for transforming a transactional environment into an analytical environment through the creation of reports that point/guide operations to opportunities that exist in materials, labor and overheads. Core Accomplishments:• Reduced staff from 5 to 2 by transitioning accounts payable and accounts receivable to a shared services platform, improving efficiency and reducing costs.• Transitioned 80% of vendors from check payments to ACH, reducing check processing costs while maintaining cash flow stability.• Replaced high-cost, low-performing vendors with low-cost, high-performing alternatives, optimizing vendor performance and reducing expenses.• Shifted sales tax processes to a third-party vendor, streamlining operations and enhancing accuracy.• Developed and managed over 100 standard operating procedures, formalizing accounting processes.• Led the ADP Vantage project conversion training, training business partners on the new system.

CONTROLLER (2013 to 2014)Lead several direct reports to support the improvement of margins by building and implementing processes, procedures, and reports through partnering with location management to drive an understanding of the business. Manage company-wide freight for all locations, company-wide cash forecasting for all locations, budgeting and all financial and administrative functions for Business Stationery.Core Accomplishments:• Developed a bill of material, routing, and overhead absorption methodology which is utilized in costing new products, inventorying costs, and measuring actual versus standard performance• Created various sales reports that led to understanding of what drove business (Top 20 customers, Product Mix Report, and Exception Reporting)• Created Operational Key Performance Indicators that focused on scrap reduction, labor efficiency, and throughput effectiveness• Develop key performance indicators for quote process.CORPORATE ACCOUNTING MANAGER (2012 to 2013)Directed a team in the management of corporate reporting (income statement, balance sheet, and statement of cash flows) and management of account payable while also responsible for implementing processes, procedures and reports that would drive accuracy in cash forecasting and an understanding of freight. Core Accomplishments:• Elevated cash forecast accuracy from 70% to 97% • Lowered waste disposal costs by 10% through a variable/fixed cost analysis model.• Negotiated a 6% reduction in international freight rates by detecting and correcting pricing discrepancies.• Reduced freight expenses by developing an exception report for cost center managers to allocate freight charges to customers properly. • Integrated 2 locations into the corporate ERP system.• Devised and implemented a comprehensive balance sheet reconciliation process company wide.• Launched an internal auditing program, boosting compliance and governance.

Salisbury, Md, Us

CONTROLLER Oversaw the daily financial needs of the organization, including payroll, accounts payable, financial reporting, budgeting and forecasting, while managing ten direct reports. Tasked to implement, develop an design a daily standardized report to track actual versus standard quantity and costs for labor, indirect labor, overtime, meat yield, raw ingredient usage, and packaging usage by process by finished product by manufacturing line by shift (location comprised eleven FG manufacturing lines, ten portioning lines, four tender processing lines and four marinating tumblers). Core Accomplishments:• Achieved a 22% reduction in freight rates through successful vendor negotiations.• Cut pallet expenditures by 25% through strategic cost management.• Awarded the POLT award for creating value from a by-product, adding $900k annually to the bottom line.• Formed and introduced volume mix tools to identify financial risks and offset shortfalls by adjusting controllable spending. Built a daily reporting process for the largest Further Processing plant.

Chicago, Il, Us

Controller Directed the organization’s payroll, accounts payable, and financial reporting. Managed and led five direct reports in their assignments and projects. Collaborated with sales and operations in the smooth implementation of corporate policies, corporate procedures, budgeting/forecasting and various operational and financial metrics at recently acquired manufacturing facility. • Led teams to identify the best cost facility to produce like products.• Designed and implemented an internal auditing program for the plant manager.• Developed several key performance indicators for areas of production.• Received Lean Six Sigma Certification.

Chicago, Il, Us

ADM, Multiple Locations 2000 - 2006 Senior Analyst - Wheat Flour Milling Division (2005 – 2006)Responsible for financial and administrative activities for three North American corn and wheat processing facilities, as well as, tasked with the creation of standardized reports for operations, sales and senior management in order to quantify and identify the drivers and opportunities within the corn and wheat milling business units. Supervised 2 direct reports. • Developed and implemented a standard costing system for thirty-eight U.S. milling locations.• Designed and implemented a gross margin analysis model used by senior management to maximize profits for all North America milling locations.• Created standardized reports, which analyzed direct costs, indirect costs and yields.Analyst/Senior Accountant – Cocoa Division (2003 – 2005) Directed all financial and administrative activities for two North American plants and one foreign location. Developed commodity position reconciliation for Brazilian location, allowing traders to take a long or short positions, depending on expected market conditions while also tracking the financial impact of the decision made. • Promoted to build standard reports, enabling operations to understand material usage, quantifying the impact of actual usage versus standard usage for raw materials. • Created a currency model to hedge manufacturing costs against current position at Brazilian manufacturing facility. This was later adopted at all ADM Canadian locations.• Decreased manufacturing costs at two outside locations by replacing outside contractors with full time employees and eliminating overtime for purchased services.• Created a work order yield analysis model to maximize raw ingredient usage and identify areas of opportunity.• Developed a daily check and balance for arbitrage trading.Previous Role: Advanced Accountant/Staff Accountant - Soybean Division (2001 – 2003)

Bachelor Of Science, Major In Accounting

Master Of Business Administration - Mba, International Business