Director Risk Management Insurance in New York City NY Resume Paul Parikh by PaulParikh


Paul Parikh has diverse industry experience in such business sectors as retail, mail-order, manufacturing and consumer products and robust experience in placement of global insurance programs for all major lines.

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									PAUL PARIKH
Risk and Treasury Management Executive                                                         Edison, NJ 08820
E-mail:                                                              cell: 908.705.0659

Executive Summary:
    Diverse industry experience in such business sectors as retail, mail-order, manufacturing and consumer products.
    Robust experience in placement of Global Insurance Programs for all major lines.
    Valuable combination of risk, treasury and operational finance skill-sets for the management of global insurance programs.
    Ability to maximize cash flow from operations, enhance management reporting, and build cash forecasting models.
    Expertise in treasury, cash management and trade finance processes.
    MBA in Finance, MS in Electrical Engineering, and CCM.

Professional Experience:
FIFTH & PACIFIC COMPANIES (formerly LIZ CLAIBORNE INC.) New York, NY                                           2004 – present
 Director – Insurance Risk Management, Treasury Management (2010 – present)
 Promoted from Senior Manager – Insurance Risk, Treasury (2007 – 2010)
 Responsible for the placement of global insurance program for this multinational corporation with 7000+ employees and sales
 range of $1.6 - $4.0+ billion. Total responsibility for the transfer of risk through insurance, risk mitigation through proactive
 loss prevention and aggressive claims handling and the assumption of risk to maintain maximum protection of the
 corporation’s assets and limitation of its liabilities. Responsible for the development of cash forecasting, modeling and
 monitoring of the company’s cash needs and credit usage on weekly, monthly and annual basis

         Implemented global Cargo/Stock Thru Put program resulting in $1.3 million premium savings in property insurance.
         Restructured trade credit insurance program for European operations resulting in an upfront cash outlay reduction for
         premium of $4.2 million with a centralized credit management approach and shared risk policy structure.
         Aggressively pursued and achieved the reduction of $7.0 million in the collateral (SBLC) with the WC carriers from
         $8.0 million to $1.0 million; thereby increasing the borrowing base availability under the company’s ABL facility.
         Redesigned the Risk Management Program thru a recent conceptual RFP process (three brokers’ participation) to
         tailor to the transformed risk-profile of the company and achieved $1.1 million in annual premium savings.
         Successfully led the development of strategy and efforts, working with one of the largest brokers as intermediary, to
         negotiate and obtain return premium from the underwriters for a two year non cancelable Political Risk/Trade
         Disruption Insurance policy resulting in $0.8 million return premium.
         Conducted and led due diligence (M&A) processes on insurance for new acquisitions, divestitures and credit facilities.
         Developed and prepared cash forecast and liquidity profile updates for Treasurer and CFO for presentation to the

 Divisional Controller ($250 MM Cosmetics Division) (2004 – 2006)
 Responsible for preparation, review and issuance of the Cosmetics Division’s monthly financial statements to senior
 management and corporate. Total responsibility for monthly forecasting, expense management, A/R and Inventory reserve
 requirements, budgeting, three-year business plans and new business development analysis.
         Developed marketing, sales and operations related expense review process, designed reports and implemented controls
         to flag unrevealed surprises.
         Partnered with the corporate and divisional management to facilitate monthly forecasting process.
         Established procedures and implemented monthly processes for managing AR and Inventory reserve requirements.

INDEPENDENT CONSULTANT                                                                                     2003 - 2004
      Provided total support to Divisional Controller (Cosmetics Division) of Fifth & Pacific Companies formerly Liz
      Claiborne Inc from January 2004 to May 2004 for establishing A/R, advertising, marketing & inventory reserves.
      Provided total support for Corporate Risk & Treasury operations of Kasper ASL, Ltd., ($400 MM branded apparel
      wholesaler/retailer) for a four and half month’s period ending in July 2003.
      Provided finance and treasury related consulting services to local small firms in support of their business plans.

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Risk and Treasury Management Executive                                                       continued from page 1

J. CREW, INC. ($800 MM manufacturer and vertically integrated retailer), New York, NY                     1990-2002
  Director – Treasury Management
   Responsible for working capital management, long and short term cash forecasting, investments, corporate financing strategy,
   trade finance, banking relationships, design and maintenance of treasury management systems, trade services systems, and
   management of daily corporate liquidity and risk management.
        Built Treasury function and positioned the company as it grew from $400 to $800 million.
        Designed and implemented changes to working capital model in a highly leveraged environment resulting in 15%
        improvement in working capital.
        Researched, assessed, designed and implemented divisional and corporate cash management systems for the company
        resulting in increased liquidity and improved management reporting system.
        Researched and assessed several trade finance systems; implemented the selected system resulting in more than $800k
        in annual savings.
        Developed and implemented consolidated bank accounts program for the company’s 125 retail store locations
        resulting in immediate source of $5 million of idle cash.
        Key participant in $540 million recapitalization (sale) of company.

THE REGINA COMPANY, INC. ($150 MM Consumer appliance manufacturer), NJ                                   1984-1990
 Operations Controller, reporting to CFO

REVLON, INC. ($650 MM Personal care products division), NJ                                               1978-1984
 Assistant Controller - Cosmetics & Fragrance Division (1983- 1984)
 Director - Operations Analysis and Financial Planning (1981-1983)
 Manager - Financial Analysis (1979-1981)
 Senior Financial Analyst (1978-1979)

Education & Training:

MBA, Finance, Fairleigh Dickinson University, New Jersey, GPA: 3.9/4.0
MS, Electrical Engineering, Fairleigh Dickinson University, New Jersey, GPA: 3.5/4.0
Permanent CCM, Webmaster Certification, Business Seminars, Management Effectiveness Workshops.
Memberships: RIMS; and Association for Financial Professionals (AFP).

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