The following are samples of typical engagement objectives and how the objectives were met
Revised closing procedures to meet aggressive 3 day close and reporting cycle. Eliminated or changed the timing of low vaule activities and focused on timely completion of the highest value processes.
Identified and assigned key duties and dates to organize and document monthly closing procedures. Created closing procedures checklist to organize month-end activities and provide a standard against which to measure closing and reporting activities.
Instituted and assigned monthly balance sheet account reconciliations to improve accuracy of financial statements and enhance internal control
Developed set of metrics to quantify, evaluate and manage AP activity
Prepared financial models for three proposed new business lines in order for management to evaluate investment strategies.
Using ACH and Remote Deposit Capture, worked with IT to design and implement an automated business process to replace a costly and cumbersome lockbox arrangement for gathering premium deposits. Resulted in hard cost savings (bank fees) of $75K annually, plus freed ½ FTE for higher value activities
Produced income statements by business line. Prepared contribution margin and break-even analysis by business line to help management evaluate the wisdom of accepting business at less than standard margins.
Developed cost center manager training program for account coding, approval procedures and capital expenditure requests
Led inter-departmental process improvement program to highlight teamwork, interdependence and improve the business process. Resulted in greater cooperation between departments, eliminated AP processing backlog and enhanced vendor relations and performance
Restructured company capitalization, replacing asset based borrowings with a bank working capital LOC and a long-term facility. Reduced interest cost by 40%
Reviewed system of internal controls, identified control weaknesses and recommended a remediation plan
Developed monthly reporting packet to provide directors with analysis of key metrics and trends
Led G/L, A/R and A/P groups in upgrade to ERP system
Applied Binford statistical model to cash disbursements population to highlight transaction anomalies and patterns for fraud review