Chief Financial Officer @ KL Outdoor and GSC Technologies
Board Member @ Habitat for Humanity
Bachelor of Business Administration - BBA @
Central Michigan University
Senior finance leader with a passion for driving financial and operational results in a challenging and high pressure environment to achieve corporate objectives. Strong experience across broad areas of Finance, Controlling, Treasury and Accounting in the automotive and consumer products industry. Proven track record of building strong partnerships with operational and functional counterparts. Skilled decision maker, problem
Senior finance leader with a passion for driving financial and operational results in a challenging and high pressure environment to achieve corporate objectives. Strong experience across broad areas of Finance, Controlling, Treasury and Accounting in the automotive and consumer products industry. Proven track record of building strong partnerships with operational and functional counterparts. Skilled decision maker, problem solver, team builder, motivator and leader. Committed to doing business with the highest level of initiative, ethical behavior and integrity.
Core competencies include:
Financial Planning and Analysis; Tactical Planning (monthly/quarterly); Annual Budget and Longer Term Strategic Planning; P&L, B/S, CF Forecasting and Management; Cost Reduction Project Management; Internal Management and External Financial Reporting; Capital Investment Decision & Analysis; Team Development and Talent Acquisition
Director, Financial Planning and Analysis @ Financial Planning and Analysis leader for $1B global automotive and truck parts manufacturer encompassing 12 manufacturing plants. Partner with the business COO to drive manufacturing operations and plant cost control improvements. Led monthly forecast and actual process. Led development of the annual profit plan across the organization. Responsible for oversight of the Cost Accounting group including the annual standard cost updates. Coordinated and managed the annual audit.
Achievements: Implemented a new monthly process for P&L, Balance Sheet and Cash Flow forecasting and analysis for three Business Units encompassing 12 manufacturing plants. Instrumental in developing plant level P&L’s, including implementation of structural changes in the accounting system (Oracle) and the financial management reporting system (HFM/Hyperion). Implemented plant financial and operational scorecard and weekly reviews with plant leadership team. Co-chartered cost reduction project with COO to reduce inventory carrying costs which successfully led to 15% cost reduction From 2012 to Present (3 years) Global Controller, Fabric Care Business @ Partnered with the Global Fabric Care President to lead the development of the 5-year strategic product and financial plan. Worked with the regional product category GMs and their teams to identify and collaborate on global product manufacturing opportunities to optimize business capital and engineering resources. Led cross functional teams in development of global project business cases. Led monthly actual and forecast process as well as consolidation of the monthly, quarterly and annual financial statement reporting for the Global Fabric Care business.
Achievements: Functional lead on ‘Value Chain Analysis’ benchmark study commissioned to compare the full value chain of front load washer products to key competitors LG and Samsung. Outcome of analysis resulted in anti-dumping lawsuit against countries importing products into the US and U.S. Department of Commerce issuing significant tariffs against key Korean and European competitors. Drove significant incremental sales and profits for the company. From 2009 to 2012 (3 years) Benton Harbor, Michigan AreaDirector, North American Finance Operations @ Leader for the Finance, Accounting and Treasury functions for the North American division of $1B global automotive parts manufacturer encompassing 14 plant locations. Responsible for the monthly P&L, Balance Sheet and Cash Flow forecast and actual results. Led consolidation of monthly, quarterly and annual financial statement reporting for North American division to corporate. Directed the creation of a centralization Shared Service Center for Accounts Receivable, Payable, Payroll and Cost Accounting and managed these functions. Coordinated the annual audit and SOX compliance testing.
Achievements: Harmonized consistent financial statements throughout 14 plants and developed a process to consolidate plants into one group financial forecast. Developed a 13-week cash forecast to improve understanding of company’s liquidity and better manage, forecast and track cash. Significantly reduced Aged A/R, improving cash flow and borrowing base by $3.4M. Formation of Shared Service Center resulted in annual cost savings of $1 million and a streamlined monthly close process From 2008 to 2009 (1 year) Various Finance & Controlling positions of increasing responsibility @ From 2000 to 2008 (8 years) Various Finance & Controlling positions of increasing responsibility @ From 1995 to 2000 (5 years)
Master of Business Administration (M.B.A.), Finance and Accounting @ Oakland University From 1997 to 1999 Bachelor of Science in Business Administration, Finance @ Central Michigan University From 1989 to 1994 Tom Benedict is skilled in: Forecasting, Process Improvement, Manufacturing, Automotive, Financial Analysis, Continuous Improvement, Cross-functional Team Leadership, Finance, Management, Financial Reporting, Six Sigma, Leadership, Internal Audit, Sarbanes-Oxley Act, Budgets
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