Richard McCarthy, CFO & Financial Operations ConsultantWith over 30 years of experience in financial leadership and operational excellence, I am adept at driving organizational growth and profitability across diverse industries. From accountant to CFO, I have gained a comprehensive understanding of financial management at all levels. My recent role as CFO at Boel Management showcased my ability to navigate complex regulatory environments while optimizing financial performance.Moreover, I possess a proven track record of successfully working remotely, supporting organizations with agility and efficiency. I leverage technology and collaboration tools to connect with teams and stakeholders across geographies. My adaptable approach and strong communication skills enable me to lead projects and initiatives from anywhere in the world.What sets me apart is my unique blend of operational and organizational expertise, coupled with a track record of delivering tangible results. From spearheading cost reduction initiatives to leading large-scale restructuring efforts, I thrive in challenging environments where strategic thinking and decisive action are paramount. My technical acumen spans budgeting, forecasting, financial reporting, and compliance, allowing me to provide comprehensive support to organizations of all sizes and strategically pivot when needed. In addition to my financial acumen, I focus on team development and collaboration. I have built and led cross-functional teams, fostering a culture of innovation and accountability. By empowering team members and encouraging open communication, I ensure collective success and achieve organizational goals. Effective leadership is essential for driving sustainable growth, and I am passionate about developing and mentoring the next generation of leaders.As I embark on my next chapter, I am excited to apply my expertise to smaller companies seeking strategic financial leadership. If you're looking for a results-driven CFO or financial operations consultant who can deliver impactful solutions, let's connect and explore how we can work together.
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Chief Financial OfficerBoel Management Inc. 2017 - 2024Portland, Maine, United States● Led 10 direct reports, headed operations of two corporate offices, and managed 650 employees across 18 locations● Achieved unprecedented company growth, doubling revenue from $21M to $42M in seven years, alongside expanding facilities within the portfolio from 11 to 18● Steered the acquisition and financial recovery of a distressed business, boosting revenue from $5M to a stable $10M with a 14% profit margin through strategic restructuring● Implemented targeted KPIs across Finance, Operations, and HR domains to minimize waste and optimize revenue● Directed financing arrangements for the acquisition of seven facilities, strategically leveraging HUD refinancing for six existing properties to sharply lower debt costs and reduce ownership risks● Drove expansion into commercial residential real estate, diversifying company portfolio and unlocking new revenue streams beyond healthcare ● Expanded HR, Finance, and IT teams from seven to 18 personnel, in support of business growth; cultivated talent that progressed into leadership roles such as VP of Finance, COO, and HR Director● Oversaw Financial, IT, and HR functions● Advised on strategic turnaround efforts● Led end-to-end financial functions, managed financial agreements, and shaped business strategy● Safeguarded thorough and accurate financial reporting to reflect financial health● Leveraged data insights to optimize profitability, selectively expanding and closing locations
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Director Of Financial Planning & Special ProjectsTeall Investments 2016 - 2017● Led financial and operational activities for a fast-growing private equity firm with investments ranging from $4M to $15M● Managed treasury functions, forecasting, budgeting, and daily cash analysis● Facilitated acquisitions and provided crucial support to the CEO and CFO for growth strategies● Engineered a dynamic treasury management framework, optimizing cash flow operations across multiple ventures, culminating in a robust liquidity stance that facilitated swift and decisive business decisions● Strategically navigated acquisition endeavors, meticulously conducting due diligence activities and seamlessly integrating acquired entities, resulting in an expanded portfolio with synergistic growth potential● Optimized the monthly close process, implementing agile methodologies that expedited reporting cycles and furnished leadership with timely, actionable insights, fortifying organizational agility and competitiveness● Developed robust onboarding strategies for new business ventures, identifying operational bottlenecks, instituting innovative solutions, and fostering an environment primed for rapid, sustainable scalability ● Established a centralized shared service group, harmonizing AP, AR, and payroll functions, that unlocked operational efficiencies and additional cost savings -
Director Of Fp&A, Insight TechnologiesL3Harris Technologies 2014 - 2015Londonderry, New Hampshire, United States● Implemented a robust forecasting system that enhanced accuracy and timeliness, enabling proactive decision-making and resource allocation● Spearheaded financial analysis initiatives, identifying key performance drivers and recommending strategic adjustments to improve program financial performance ● Collaborated closely with business development teams to refine pricing strategies and proposal methodologies, leading to improved win rates and new avenues for growth opportunities● Developed a rigorous capital expenditure approval process, ensuring alignment with strategic objectives and prudent financial management practices that significantly improved resource allocation and cost control● Enhanced the effectiveness of monthly program reviews by instituting comprehensive updates to program EACs and corresponding financial information, delivering actionable insights to inform executive decision-making● Mentored and coached a team of nine financial analysts, fostering a collaborative and high-performing culture -
Regional Finance DirectorQuest Diagnostics 2011 - 2013New England Region• Senior leader of a $350MM business overseeing two laboratories and 285 service locations in New England• Key resource to the Vice President of Operations, providing guidance and recommendations to drive sales, operations, and finance• Leader of a 7-member financial team, responsible for accounting, budgeting, forecasting, performance analysis, internal controls, capital efficiency, sales support, and metrics reporting• Financial leader of the Executive team, driving process improvement and increasing productivity by 15%• Developed cost reduction and restructuring action plan, delivering $20MM in savings -
Director Of Finance (Claverham Limited, Hamilton Sundstrand)United Technologies 2007 - 2010City Of Bristol, England, United Kingdom• Ensured the $120MM global division exceeded financial targets by driving organizational efficiency and tracking business performance metrics• Discovered and resolved revenue recognition issues, implementing preventative processes• Directed Sarbanes-Oxley initiatives and monitored risk management activities to mitigate potential risks• Provided financial leadership to a 120-employee Engineering department, overseeing contract execution ranging from $100K to $20MM• Achieved 100% on-time reporting accuracy by implementing process improvements in actuals and forecasting reporting• Developed annual budgets and monthly forecasts with 95% accuracy• Conducted working capital analysis, enhancing financial performance and monthly metrics• Presented strategic goals, financial results, and operational performance to parent company executives• Managed accounts payable, payroll, and credit and collections functions -
Controller, Flight Systems (Hamilton Sundstrand)United Technologies 2006 - 2007Windsor Locks, Connecticut, United States• Implemented process enhancements and robust accounting controls for a $1.3B division, overseeing operations across 11 domestic and international entities• Conducted quarterly site visits, analyzed R&D contract cost estimates at completion (EACs), and conducted thorough reviews of balance sheets and profit and loss statements• Offered technical expertise to business units, resolving issues related to product line sales, business mergers, sale-lease-back transactions, warranty accounting, and restructuring initiatives• Provided comprehensive briefings to the division President and Director of Finance on pertinent accounting and operational matters, introducing innovative procedures to streamline operations• Streamlined monthly financial reporting processes and contributed to forecast updates• Executed risk-based compliance assessments in adherence to GAAP, Sarbanes-Oxley, and UTC Financial guidelines
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Financial Planning And Analysis ManagerUnited Technologies 2003 - 2006Hartford, Connecticut, United States• Oversaw $500MM in annual restructuring actions, providing execution and accounting guidance, implementing data consolidation methodologies, and devising external reporting strategies• Supported business objectives by advising controllers, assistant controllers, and finance managers across seven business units as the Internal Accounting Advisor• Prepared annual reports and conducted reviews as a key member of the Controllers group• Enhanced efficiency and productivity by clarifying and standardizing corporate accounting policies• Assisted in the preparation of SEC quarterly filings and collaborated with external auditors• Collaborated with Investor Relations, Legal, Treasury, and Tax departments on critical projects, reporting, and analysis activities
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Manager Of Accounting Shared Business ServicesUnited Technologies 2002 - 2003Windsor, Connecticut, United States• Directed a finance team of 13 professionals, overseeing account reconciliation, issue resolution, and process improvement• Managed accounting for $20B in accounts payable and travel expenditures• Responsible for financial, operational, and compliance controls for accounts payable, travel audit, and payroll• Led the implementation and testing of Sarbanes-Oxley compliance, supervising review of 1100 unique controls
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Audit ManagerArthur Andersen & Co. 2000 - 2002Hartford, Connecticut, United States -
Manager, Audit & Consulting ServicesBlumshapiro 1993 - 2000Glastonbury, Connecticut, United States
Richard Mccarthy Education Details
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Master Of Business Administration - Mba -
Accounting And Finance
Frequently Asked Questions about Richard Mccarthy
What is Richard Mccarthy's role at the current company?
Richard Mccarthy's current role is Accomplished CFO & Financial Operations Consultant | Trusted Organizational Growth Advisor | 30+ Years of Expertise in Strategic Planning, Financial Management & Operational Optimization.
What schools did Richard Mccarthy attend?
Richard Mccarthy attended Purdue Krannert Graduate Institute At The Daniels School Of Business, Fairfield University.
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