Michael Bombino is pursuing a Leadership/Management Role that will utilize expertise in Strategic Planning/Organizational Development, Corporate Finance and Accounting Reporting, Controls, & Information Management in order to: -- implement change management/process optimization procedures to drive financial solutions and program outcomes -- plan and develop strategic financial programs that make organization more competitive in domestic and international markets -- generate revenue projections, monthly financial performance breakdowns and P&L reports for outstanding operational performance -- oversee financial planning and forecasting operations to ensure best practices and financial stability
Michael V. Bombino, CPA, CFE, CVA Union Grove, AL 35175 Home: (256) 498-0879 Cell: (256) 572-8792 email@example.com OBJECTIVE A Leadership/Management Role that will utilize expertise in Strategic Planning/Organizational Development, Corporate Finance and Accounting Reporting, Controls, & Information Management in order to: implement change management/process optimization procedures to drive financial solutions and program outcomes plan and develop strategic financial programs that make organization more competitive in domestic and international markets generate revenue projections, monthly financial performance breakdowns and P&L reports for outstanding operational performance oversee financial planning and forecasting operations to ensure best practices and financial stability QUALIFICATIONS Transitional Planning/Execution Technical Research SOX & Controls Project Management Process Improvement Business Valuation Corporate Development Business Integration Budget Oversight Planning & Analysis Capital Management Business Restructuring Taxation Business Acquisition/Divestiture Fraud Prevention GAAP EXPERIENCE Resources Connection, dba Resources Global Professionals, Birmingham, AL 2006 to 2010 Consultant AlaTrade International, LLC, Guntersville, AL 2004 to 2005 Vice President of Finance & Administration MVB Financial Services, LLC, Union Grove, AL 2001 to 2004 Managing Member / Consultant Florida Progress Corporation, St. Petersburg, FL 1983 to 2001 Progress Rail Services Company, Albertville, AL Senior Vice President and Chief Financial Officer 1997 to 2001 Electric Fuels Corporation, St. Petersburg, FL Treasurer 1995 to 1997 Florida Progress Corp., St. Petersburg, FL Director of Strategic Planning 1993 to 1995 Manager, Non-Regulated Group Tax Services 1991 to 1993 Manager, Affiliated Group Tax Services 1989 to 1991 Manager, Tax Accounting 1987 to 1989 Electric Fuels Corporation, St. Petersburg, FL Manager of Tax Accounting 1983 to 1987 Touche Ross & Co., Jacksonville & Tampa, FL 1980 to 1983 Tax Senior EDUCATION and PROFESSIONAL DEVELOPMENT Bachelor of Arts Degree in Accounting from University of South Florida, Tampa Florida Over 1700 hrs. of Continuing Prof. Education in Accounting, Taxation, Valuation Analysis and Fraud Examination Basic Comprehension of Spanish and Italian Certifications/Honors and Awards: Alabama and Florida Certified Public Accountant Certified Valuation Analyst Certified Fraud Examiner Chairman’s Award for Cost/Price Study for Florida Power Technical Skills: BAAN IV SAP JBA ALCAR Business Valuation Pro Professional Affiliations: Alabama Society and Florida Institute of Certified Accounts American Institute of Certified Accountants National Association of Certified Valuation Analysts Association of Certified Fraud Examiners ACHIEVEMENTS Strategic Planning/Organizational Development Grew Rail Services Business Unit as strategic buyer by pricing, structuring, and negotiating, transactions. Performed business purchase investigation procedures, including financial due diligence, managed legal, human resources, operational, and environmental due diligence; coordinated closing /post closing activities. Results: In two years, eliminated unacceptable candidate companies and closed six business acquisitions, requiring $157M of invested capital; within two years after closings, revenues increased from $322M to $478M and net income increased from $9.4M to $13.3M or $3.9M. Expanded barge and tow boat capacity for Inland Marine Business Unit by directing strategic planning process. Endorsed expansion strategy with COO; produced financial cases and contributed to development of $300 to $400M barge expansion proposal to Finance and Budget Committee of Board of Directors; while considering capital constraints, proposed Synthetic Lease structure and evaluated bids. Results: Expanded fleet size from 600 barges and 21 tow boats to 1,200 barges and 30 towboats over three year period; revenues increased from $105M to $162M and net income increased from $5.9M to $9.1M or $3.2M; positioned unit for sale at $270M in proceeds. Directed strategic planning process for Energy and Transportation (Regulated and Non-regulated Coal, Inland Marine, Rail Services), Life Insurance, and Water Separation Technology business units; lead electric utility’s competitive cost positioning initiatives; and provided technical support for spin-off of Real Estate, Lending, and Leasing business unit. Results: Affirmed and refined strategies focused on improving cost competiveness of the electric utility and accelerated and increased the timing and size of growth strategies for the Rail and Inland Marine business units of the Energy & Transportation segment. Corporate Finance Management Increased shareholder value by redeploying investments in financial assets (railcars subject to leases) into core business and projects capable of generating higher financial returns. Provided capital management activities including structuring, review and approval of retained risks, execution of Progress Rail guarantees, and confirming accounting/tax ramifications; planned and executed 16 sales transactions related to financial assets with proceeds of $196M over four year period. Results: Net income increased by average of $2.5M per year over four years for total of $10M. Raised capital using sale/leaseback transactions to reduce interest expense. Set financial objectives to find alternative means of funding that did not involve increasing corporate debt and keeping invested capital low in order to increase ROIC metric; requested proposals, chose best terms and conditions, and documented $28M barge and $6.0M aircraft transactions. Results: Annual interest costs were reduced by $1.5M for approximately $.9M in net income. Minimized tax liabilities through tax planning strategy. Company acquired holding company of several building product subsidiaries for approximately $28M and recorded $7.0M of “book” goodwill, which was component of stock basis; after change in company direction, subsidiaries became divestiture candidates and were to be sold to different buyers over time; utilizing tax planning technique called “Son of Mirrors”, company was reorganized to facilitate orderly liquidation of divestiture candidates. Results: Realized $2.8M tax benefit by shifting goodwill component in tax basis of holding company’s stock to tax basis of divestiture candidates’ stock. Accounting Reporting, Controls & Information Management Led SOX process for Huntsville diesel engine manufacturing facilities, owned by $9B Navistar Corporation. Given results of previous external SOX assessment, remediated non-compliant financial controls; assumed “SOX Manager” role over following two annual cycles, including preparation of process narratives (revenue, inventory, fixed assets, payroll, and financial statement close), ongoing remediation of non-compliant controls; and liaison between accounting, finance, E&Y, and Navistar’s internal control and SOX personnel. Results: Successfully remediated deficient controls; completed management assessments in timely manner; created methods and procedures documents for two manufacturing plants. Directed implementation of Baan IV ERP system for two major divisions with over $500M in revenue, over 25 physical operating locations, and over 2300 employees. Given responsibility for Y2K compliance; recognized that technology needed upgrading and standardizing. Results: ERP system was implemented in 18 months, resulting in centralization of purchasing; streamlined accounts payable, standardized accounting processes and improved financial roll-up capabilities; management tools and reports were enhanced with higher visibility to key financial information. Drove quick completion of first time three year financial audit for $1B business. Company had not had comprehensive audit and was suddenly required to have audit within 100 days; worked with audit team to educate them on operational procedures, especially financial operations, and complex leasing transactions; provided documentation for audit team that was critical for completion of audit. Results: Received unqualified opinion within 100 days, meeting stringent requirements of Morgan Stanley Dean Witter’s sales process for business unit.
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