CFO Vice President Finance in Tampa FL Resume Michael Bombino by MikeBombino


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									                               Michael V. Bombino, CPA, CFE, CVA
                                               Union Grove, AL 35175
                                                Home: (256) 498-0879
                                                 Cell: (256) 572-8792
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
         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
   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
Resources Connection, dba Resources Global Professionals, Birmingham, AL                                            2006 to 2010
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

                  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 
                              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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