Mark B. Email & Phone Number

Norwalk, Ct, Us

Proven results leading Audit Services team through periods of significant change (including $1 billion multi-national acquisitions and divestitures, senior management changes and downsizing), driving successful implementation/maintenance of internal controls across the organization. Established, organized and managed a customer focused internal audit team while consistently meeting deadlines, quality standards, budgets and maintaining strong relationships at all levels of the organization including executive management and Board of Directors. Key results include:• Recommended and implemented plan to combine Internal Audit and SOX departments resulting in annual savings of more than $1M. Additionally, turned perception of function from “necessary evil” to highly respected partner.• Developed and executed annual risk based audit plan including both operational, IT and financial reporting controls (Sarbanes-Oxley). Process included sound recommendations for improvement in controls leading to overall solid internal control environment. • Successfully implemented use of “guest auditor” concept resulting in reduction of internal audit costs by $200K annually.• Designed and implemented audit issue tracking tool and follow-up process that led to 85% reduction in past due and repeat audit findings.• Proven record for talent leadership including hiring, training and developing highly motivated team of professionals, providing solid bench strength to business, with six team members promoted to larger roles.• Reduced audit fees $100K-$150K annually by partnering with external auditors to ensure maximum reliance on internal audit work.• Provided oversight for fraud investigations, including recommended improvements to prevent future occurrence.• Partnered with Chief Accounting Officer in development and implementation of Internal Control Roadmap (Self –Assessment at more than 70 business units), which led to overall control improvement.

Norwalk, Ct, Us

Promoted to Corporate Director as liaison between IT team and financial business leaders, including on-going support to initial pilot sites as well as development and implementation of several policies and controls critical to the overall successful implementation of company-wide ERP system. Key Results Include:• Developed template to assist employees in overall understanding and use of global shipping terms. Participated on team to develop and implement related training program.• Designed and drove successful development of various reporting tools to improve accuracy of financial statements and controls over financial reporting.• Co-managed company efforts to design “best practice” business processes and development of full desktop procedures related to new ERP system and start up of Global Shared Service Center.

Norwalk, Ct, Us

Leadership team member of $300M segment. Managed accounting and finance functions including: budgeting and forecasting, financial analysis, month-end close and internal control compliance. Key results include:• Upgraded segment finance team leading to overall improved controls and improved accuracy of financial reporting.• Assisted Corporate Finance team with financial restatement effort, including conducting primarily company-wide analysis in the areas of accounts receivable and inventory reserve requirements.• Designed Company-wide Sarbanes-Oxley compliance process including internal control design, testing and remediation activities resulting in overall improved control environment and increased external auditor reliance resulting in external audit fee reduction of $75K-$100K annually.

• Transitioned internal audit department from 100% outsource to co-source environment. Restored credibility to the function by successfully creating a business “partner” relationship with divisional and functional management.• Developed and implemented annual global audit plan, coordinated year-end audit activities with external auditors, managed completion of statutory audits and prepared and presented status updates to the Audit Committee. • Created risk assessment tools and techniques to maximize audit efficiency and overall audit execution. This change in approach significantly improved customer satisfaction. • Established “Standard Control Guidelines” and monitoring system to improve internal controls and operating efficiencies at distribution and manufacturing facilities. Program received widespread support and greatly strengthened controls.• As a member of the Steering Committee, was key to successful implementation of the Sarbanes-Oxley compliance process. Project included managing outside resources, overseeing internal control design and testing and remediation.

• Led cross-functional, cross-divisional effort to analyze, refine and implement global inventory control procedures in order to minimize the risk of financial loss and more effectively manage working capital. Project included identifying existing financial exposure, improving reporting tools and procedures, implementing formalized cycle count procedures and providing assistance to division controllers in monitoring on-going inventory control. Project substantially improved working capital and control of global inventory.

• Provided technical oversight for HVAC Division to ensure that product delivery and customer service levels remained as high as possible during difficult conversion of company’s order entry system. Assisted division president in communicating project status to key customers. Managed two key components of required system preparation for conversion to new order-entry system: reduction of customer backlog and accuracy of product master file.• Led cross-functional team to analyze and refine company’s daily sales reporting system in order to provide more timely and accurate sales information. Process mapped all programs impacting sales reporting, identified errors and inconsistencies and formed teams to address key issues.

• Managed turnaround of corporate-wide conversion of financial system. Assumed responsibility for project mid-term. Assessed progress and identified problems. Revised project plan including well-defined roles, responsibilities and time lines. Hands-on management led to improved morale among team members and improved understanding of project implications by senior management.• Managed multiple product manufacturing moves including several to low-cost labor areas. Prepared initial analysis, managed equipment relocation, assisted with employee hiring and coordinated overall facility start up. Met all major commitments despite numerous unforeseen obstacles. • Developed and managed implementation of plant productivity monitoring system which provided the ability to identify the root causes of declining performance and proactively establish corrective measures.

• Led multiple cross-functional teams focused on improving processes in product line reporting, month-end closing and pricing.• Participated in integration of company’s second largest acquisition. Coordinated closing of acquired company’s headquarters including severance calculations, severance payoffs and on going finances until full integration was achieved.• Performed financial analysis and made recommendations to Senior Management relating to acquisition and divestitures, return on capital employed, sale/leaseback accounting transactions and governmental filings.

• Reorganized Financial Services team resulting in improved audit results, overall increase in level of sales support and increased department morale. These improvements were achieved while managing a major absorption of markets in the region (region doubled in size from $26MM to $54MM in revenues).• Analyzed and recommended strategic change in a major market which solidified our competitive position and led to savings of $1.8 million in postage expense.• Developed and presented to external clients, a model designed to pass through an industry cost increase. Project resulted in rate increases of 10% to 13% for all key clients vs. company guideline of 8% (incremental revenue of $250K).• Provided financial and business advice to General Manager relative to market and product strategies, maintaining cost controls and on-going financial analysis.

• Designed and implemented an Audit Review Program which became the “Gold Standard” for the company. In addition to identifying areas for improvement, the program also provided an excellent training medium for associates at all levels.• Assembled a procedural review team that developed and implemented numerous policy changes designed to streamline processes (estimated savings $200K).• Coordinated and administered the accounting functions for six regions and the division office (combined revenues $300MM) to ensure compliance with company policy.

• Reorganized Financial Services team resulting in improved audit results, overall increase in level of sales support and increased department morale. These improvements were achieved while managing a major absorption of markets in the region (region doubled in size from $26MM to $54MM in revenues).• Analyzed and recommended strategic change in a major market which solidified our competitive position and led to savings of $1.8 million in postage expense.• Developed and presented to external clients, a model designed to pass through an industry cost increase. Project resulted in rate increases of 10% to 13% for all key clients vs. company guideline of 8% (incremental revenue of $250K).• Provided financial and business advice to General Manager relative to market and product strategies, maintaining cost controls and on-going financial analysis.

• Actively participated on team to analyze potential competitor acquisition that ultimately led to the most successful acquisition in several years.• Prepared division budget presentation with revenues of $250MM, coordinated timely preparation of six regional budgets ensuring that each reflected appropriate business strategies.• Provided strategic planning assistance to division president to maximize profitability and future business growth.• Recognized by division president as one of three “most valuable players” among over 500 division associates. Also selected to the company’s “President’s Club” for outstanding performance.

• Responsible for planning, executing, administration and wrap-up of audit engagements for numerous public companies, including several multi-national clients.• Presented financial information and recommendations for improvements in management reporting, internal control and other business matters to top-level management.

Bachelor Of Science, Commerce

Master'S Degree, Accountancy