Richard Snow Email & Phone Number

 Joined Hy-Bon as their first CFO soon after a private equity based ownership transaction. Implemented processes to provide data reporting required by the new ownership group. Decreased close cycle from two weeks to three days.  Managed cash flow during a period of hyper growth maintaining bank covenants and obtaining modifications, or increases to our line of credit, when necessary.  Together with operations management, grew the company two hundred and seventy-five percent over a five-year period both organically, by expanding the service presence of the company to six new geographic regions, and through the acquisition of a competitor.  Participated in the successful sale of Hy-Bon to a strategic buyer, Regal Beloit. Oversaw the preparation of due diligence materials and sales offer documents. Made financial presentations to eleven interested parties. Provided due diligence support requested by the new ownership entity during sales negotiations.  Supervised the integration of payroll, cash management, financial reporting, and other systems to comply with the new ownership’s requirements.

Played an integral role in a successful ownership sales transaction to a Chicago based equity firm. Prepared historical and forecast based analysis used for valuing the transaction and due diligence requirements. Acted as financial consultant to Leisure Time Products, Inc preparing required financial result reports necessary for the valuation of the merger transaction. Directed integration of merged entities by established new consolidation and reporting systems, financial budgets and operational reports. Directed computer systems integration between all subsidiaries of Backyard Leisure LLC.Together with operations management implemented an Asia outsourcing strategy reducing overhead and labor costs by $2 million. Achieved a $7 million financial “turn around” by implementing a detailed financial reporting and product costing system that allowed proper pricing of products and timely produced variance reports. Oversaw a wide range of financial and administrative functions including risk management, product liability legal case management, human resources, information technology, and employee benefit administration including health insurance and 401(k) administration.Implemented a comprehensive internal control structure including transaction authority matrixes, separation of incompatible duties and accurate organization charts. Initiated an account level budgeting system where department heads were given financial responsibility over their budgets and were provided spending variance reports on a monthly basis.Established credit and collection policies controlling the establishment of credit lines and the procedures for shipping to “past-due” customers. Negotiated with insolvent customers to maximize collection of owed balances. Collected receivables from large customers such as Wal-Mart and Toy-R-Us and from small privately owned dealers. Engaged outside collection agencies and law firms to assist with collections when necessary.

Created a fully functional finance department after a company acquisition. This included staffing and the design and implementation of completely new computerized accounting, costing, and administrative systems. Successfully negotiated two separate multi-million dollar working capital lines of credit. Designed an efficient cash processing system with the use of a lock box, ZBA account funding, letters of credit with foreign suppliers and complex cash needs forecasting tools. International and multi-currency experience.Negotiated service agreements with public accountants, attorneys, customers, vendors, bank officials, and other external constituencies. Managed annual financial audits, tax return preparation, and inter-company pricing studies performed by Deloitte and Touche. Developed and presented strategic business plans and operations analysis including business model modifications and cost saving initiatives necessary to obtain financial performance goals. Extensive experience with Oracle accounting systems and complex Excel models. Together with I.S. personnel, successfully implemented a systems upgrade to Oracle 11i for all major financial computer modules including G/L, A/P, A/R, Inventory, and Fixed Assets.

Division of Magna International, a multi-billion dollar manufacturer of automotive interior components.Created a new finance department including the reallocation of duties to existing employees, development of position descriptions, and hiring/training of the new staff.Developed a spreadsheet-based model that calculated and explained plant production variances. The model was used as an example to other Magna plants.Offered verbal presentations of performance and budgets to corporate office executives. Successfully managed the accounting/control, external/internal financial reporting, cost accounting, and budget/forecast functions. Served as plant grievance/ethics officer.

Managed a large finance department of six direct reports with total personnel responsibility of up to sixty-eight associates. Honored departmental financial budgets. Managed staffing levels based on changing output requirements.Participated in a comprehensive system conversion to JD Edwards including the successful implementation of all financial computer modules (G/L, A/P, A/R, and Fixed Assets).Presented company financial information and forecasting before Board of Directors and upper level management. Directed costing, budgeting, accounting, and financial reporting. Experience with labor union negotiations and risk management.

Promoted from Assistant Controller to Controller to CFO in four years. Completely recreated the finance department after corporate relocation. Efficiently fulfilled responsibility for costing, accounting, budgeting, and financial reporting. Thorough knowledge of AS-400.Extensive experience with government bid contracting. As Controller, reduced the staff level of the Finance Department from seven to four through computer system implementations and staff training. Participated in labor union negotiations.

Sole provider of multi-modal mass transit and road design services for a major Florida metropolitan area.Performed internal audits of accounting and reporting systems confirming compliance with established procedures. Made and implemented recommendations of system modifications where weaknesses were found.

A "Big 8" International public accounting, audit, tax, and consulting firm. Now merged as Deloitte and Touche.Directed and assisted the performance of audits for clients in the governmental, manufacturing and service sectors.

Mba, Business

Sat and passed the CPA exam during the my MBA program

Bs Accounting, Accounting