Galgenen, Schwyz, Switzerland
Leading a team of 50 Finance professionals as Controller for Switzerland, Eastern Europe, Greater Russia, the United Kingdom and Nordic European legal entities. Financial oversight of 40+ legal entities, comprising amongst others, Dow’s largest non-United States entity with annual sales of $18+ billion and an in-house bank with assets of approximately $16 billion. Reporting of locally consolidated financials into European CFO. Responsible for timely and accurate role-up of financials statements into global consolidations to ensure USGAAP and IFRS compliance. Responsible for effective and efficient internal controls and SOX compliance. Accounting for European AR securitization program, intercompany commissions and royalties, and purchased and sold business units. Oversight for European VAT and intrastat reporting. Review of accounting for European pension plans.
Led a team of 10 reports in the Finance and Statutory team for European legal entities. Financial oversight of 30+ legal entities, comprising amongst others, Dow’s largest non-United States entity with annual sales of $18+ billion and an in-house bank with assets of approximately $16 billion. Reporting of locally consolidated financials into European CFO. Responsible for timely and accurate role-up of financials statements into global consolidations to ensure USGAAP and IFRS compliance. Responsible for effective and efficient internal controls and SOX compliance. Accounting for European AR securitization program, intercompany commissions and royalties, and purchased and sold business units. Oversight for European VAT and intrastat reporting. Review of accounting for European pension plans. Selected Achievements: - Successful implementation of SAP R6 finance module for all Swiss legal entities, with an immediate robust closing after one month. - Successful integration of financial activities for a multi-billion dollar acquisition in European legal entities. - Developed and implemented updated and improved procedures in the new SAP module. - Designed and executed cross-functional gallery walk to educate 100+ finance employees. - Primary focal point for external auditors to identify annual audit scope, objectives and budget. - Maintained a sustainable organization meeting all reporting deadlines during a 30% staff reduction. - Restructured finance department resulting in $500+ thousand in savings.
Responsible for ensuring integrity of quarterly financial statements for Dow’s largest non-United States entity with annual sales of $20+ billion. Ensure the correctness of the net foreign currency exposure supporting Treasury in foreign currency hedging. Ensure financial statements meet US GAAP and Swiss GAAP requirements. - Primary Dow Europe GmbH focal point for internal/external financial and tax auditors - Profound finance accounting knowledge with expert level SAP skills - Meeting all statutory deadlines with no misstatements. - Accountable for annual statutory consolidation of 3 legal entities (home office and branches) with different company and functional currencies with 100% compliance to Swiss GAAP regulations.
Responsible for India, Middle East, and Africa to ensure the creation of an effective control environment meeting all US GAAP and SOX control requirements. - Developed and implemented a risk assessment model and strategy for Dow’s presence in India, the Middle East and Africa. - Created and implemented a self sustainable strategy to validate internal control compliance in the start-up back office operations with a local BPO supplier in Mumbai, India. This included multiple functions such as Finance Cost Accounting, Banking, Accounts Payable, Information Technology, Customer Service, etc. - Assessed and implemented a reorganization of the Treasury department between India and Singapore resulting in improved internal controls and work process efficiency. - Hired and developed a high performing internal auditing team in India to establish a domestic footprint within Dow’s global auditing organization. - Mentored and trained finance personnel within India to ensure a long term sustainable team. - Led the finance integration under the acquisition of the Rohm & Haas business in India valued at $100+ million. - Led the finance activities related to the divestiture of the Polystyrene business in India valued at $20+ million.
Led global audit projects and teams. Set audit objectives and scope, ensured timely completion of work according to internal audit standards. Led audits of various functions including but not limited to Purchasing, Accounts Payable, Manufacturing, Market Sell, Joint Ventures, Payroll, Human Resources, and Finance including the Reinsurance business. More than 30% of time was spent on global travel. - Developed a risk assessment model for the company’s presence in emerging countries resulting in the effective prioritization of high risk audits. - Developed audit programs to effectively assess internal control for processes such as Payroll, Fixed Assets and Inventory Control.
Accountable for the overall integrity of the financial statements for multiple legal entities across Germany and Switzerland. This included the AgroScience business and the acquired Chemicals & Plastics Division in Eastern Germany. Success factors included excellent knowledge of US GAAP, local statutory and tax regulations, currency translation and Treasury accounting. Led the finance integration of Gurit-Essex with annual sales of $300+ million. This included consolidating financial activities from five European countries.
Redesigned existing global intercompany pricing work processes and successfully developed, and implemented the global consolidation of all intercompany pricing activities into a consolidated Finance Service Center. - Successfully developed and implemented an SAP process based on US GAAP statutory requirements impacting all Global Intercompany transactions (valued at $20+ billion) resulting in a resource reduction of 3 employees.