DOUGLAS A. HENDERSON
Lapeer,Michigan
Summary
Dynamic, multi-disciplined business leader with extensive experience in Financial Management and Accounting Department Operations. Globally minded and business savvy professional with strong leadership and communication skills within all levels of an organization. Diligent and detailed-oriented, with exceptional technical skills in the finance operations of companies in varied industries and size. Demonstrated record of success in financial reporting, enhancing efficiencies, reducing costs and aligning business processes with corporate objectives.
Overview
18
18
years of professional experience
1
1
Certification
Work History
Vice President-Finance
H & H Tool Inc.
02.2024 - Current
- Company Overview: H & H Tool Inc
- Was founded in 1979 by James & Mary Ann Harrington and has grown from a small tool making company in a 5,500 square foot facility to a world-class supplier of Precision machined components for the Auto industry and may others
- The company currently resides in a 68,000 square foot state of the art facility in Lapeer, Michigan
- Transitioned the chief finance leadership role from a contract consultant role to direct hire leadership role
- Provide second generation owner with sound strategic and financial guidance
- Direct reports: human resource manager, purchasing manager and accounting manager
- Develop and implement operational and financial controls to achieve business objectives
- Develop operating and capital forecasts and budget that align with the company’s strategic objectives
- Implement cost accounting module within the ERP system
- This requires the development of the labor and overhead standard rates
- Transition payroll to a new service provider including reengineering the process to strengthen internal controls and provide a more positive user experience
- Implemented a Continuous Improvement process resulting in $1.6M in cost savings
- Manage the company's financial operations, including budgeting, forecasting, and auditing
- Ensure that the financial transactions, policies, and procedures meet the organization's short and long-term business objectives and are conducted in accordance with regulations, accounting principles, and standards
- Oversee the preparation and communication of monthly and annual financial statements
- Ensure the timely reporting of key financial data and updates to the owner, and other key stakeholders
- Execute the development and implementation of treasury functions
- Manage all relationships with financial institutions supporting company’s cash management operations
- H & H Tool Inc
- Was founded in 1979 by James & Mary Ann Harrington and has grown from a small tool making company in a 5,500 square foot facility to a world-class supplier of Precision machined components for the Auto industry and may others
- The company currently resides in a 68,000 square foot state of the art facility in Lapeer, Michigan
CFO
Lapeer Plating + Plastics, Inc.
02.2023 - 02.2024
- Company Overview: Lapeer Plating + Plastics, Inc
- Is a leader in the manufacture of highly decorative second surface acrylics and decorative chrome plating on functional plastic components
- Direct reports: human resource manager, purchasing manager, accounting manager, IT manager and benefits manager
- Develop and implement operational and financial controls to achieve business objectives
- Develop operating and capital forecasts and budget that align with the company’s strategic objectives
- Manage the company's financial operations, including budgeting, forecasting, and auditing
- Ensure that the financial transactions, policies, and procedures meet the organization's short and long-term business objectives and are conducted in accordance with regulations, accounting principles, and standards
- Oversee the preparation and communication of monthly and annual financial statements
- Ensure the timely reporting of key financial data and updates to the Board of Directors, and other key stakeholders
- Execute the development and implementation of treasury functions
- Manage all relationships with financial institutions supporting company’s cash management operations
- Lapeer Plating + Plastics, Inc
- Is a leader in the manufacture of highly decorative second surface acrylics and decorative chrome plating on functional plastic components
Finance Director NA Tech Division
Syncreon
06.2020 - 02.2023
- Company Overview: Syncreon was formed in 2007 when Walsh Western and TDS Logistics joined forces to form a new company
- The company optimizes customer’s supply chain by providing tailored, progressive and scalable solutions which reduce costs and improve performance
- Finance director for the company’s North America Tech Division comprising eleven plant locations with $200M in Annual Revenue
- Provide mentoring, training and guidance to five plant controllers to ensure the financial results are timely, accurate, complete and compliant with relevant accounting principles
- Draft Monthly Business Review document including financial results, key performance indicators and commentary for presentation to senior leadership
- Responsible for monthly and year end close process in accordance with Generally Accepted Accounting Principles
- Review annual operating and capital budgets to ensure the plans align with the company’s strategic plan
- Review thirteen-week cash forecast for US and Mexico sites
- Review capital projects and monthly reporting of the savings realized
- Review customer releases to identify trends and impact on monthly forecasts
- Review business cases for capital spending projects ensuring the projects are in compliance with company policies and best practices
- Partner with plant leadership to identify and quantify product and overhead cost savings opportunities
- Review pricing RFQ’s for alignment with the company’s strategic plan
- Syncreon was formed in 2007 when Walsh Western and TDS Logistics joined forces to form a new company
- The company optimizes customer’s supply chain by providing tailored, progressive and scalable solutions which reduce costs and improve performance
Group Controller
Aludyne
08.2013 - 06.2020
- Company Overview: Aludyne is the auto industry’s largest single integrated resource for high-quality precision chassis casting and machining solutions
- Aludyne operates regional production facilities in North America, South America, Europe and China
- Regional controller for the company’s largest region, comprising fifteen manufacturing facilities throughout North and South America
- Provide mentoring, training and guidance to plant controllers to ensure the financial results are timely, accurate, complete and compliant with relevant accounting principles
- Develop and implement operational and financial controls to achieve business objectives
- Draft Monthly Operational Review document including financial results, key performance indicators and commentary for presentation to senior leadership
- Review business cases for capital spending projects ensuring the projects are in compliance with company policies and best practices
- Partner with plant leadership to identify and quantify product and overhead cost savings opportunities
- Business partner with the Vice President of Operations with a focus of providing financial guidance for business decision making
- Developed five-year business plan for the region
- Responsible for monthly and year end close process in accordance with Generally Accepted Accounting Principles
- Draft monthly Regional Operating Letter for distribution to Board of Directors
- Review monthly earnings results and financial forecasts and draft Regional Bridge Analysis and Causals
- Developed financial modeling for annual plant operating and capital budgets to achieve company earnings targets
- Manage global inventory working capital component for the company
- Finance subject matter expert for ERP implementation in five plants
- Maintain plant ERP system to ensure the complete and accurate accounting system in accordance with GAAP
- Manage regional incentive bonus plan for all salary and hourly employees
- Aludyne is the auto industry’s largest single integrated resource for high-quality precision chassis casting and machining solutions
- Aludyne operates regional production facilities in North America, South America, Europe and China
Team Leader-North America Cost Group
Nexteer Automotive, Inc.
01.2013 - 08.2013
- Company Overview: Nexteer Automotive designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline half shafts for over 60 automobile manufacturers and tier one suppliers
- Managed a team of three cost accountants, including completion of employee evaluations comprising of goal setting, recommendations for promotions and rewards, and annual review of performance of employees
- Developed detailed cost information required to set manufacturing standards, report performance against standards, and develop improved accuracy of cost of sales and inventory valuation
- Prepared monthly financial forecasts for Inventory valuations and Cost of Goods Sold
- Established standard costs, monitoring cost changes and overhead rate analysis
- Direct financial responsibility of product warranty claims
- Nexteer Automotive designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline half shafts for over 60 automobile manufacturers and tier one suppliers
Senior Financial Analyst-Capital
Nexteer Automotive, Inc.
09.2011 - 12.2012
- Company Overview: Nexteer Automotive designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline half shafts for over 60 automobile manufacturers and tier one suppliers
- Lead the global capital and tool process for new and existing programs
- Prepare monthly reporting package of forecasted and actual capital spending with $300M of annual spending, forecasting, gain/loss revenue recognition (US GAAP and IFRS), tooling invoicing, and project tracking
- Participated in Executive Leadership program including, presenting business case to the company’s leadership upon culmination of program
- Completed employee evaluations including goal setting, recommendations for promotions and rewards, and annual review of performance with employees
- Perform an indirect role in Technical Accounting and direct role in IFRS conversion team
- Nexteer Automotive designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline half shafts for over 60 automobile manufacturers and tier one suppliers
Commercial Financial Analyst
Dawn Food Products, Inc.
10.2010 - 08.2011
- Company Overview: Dawn Food Products is an international bakery manufacturer and distributor
- Dawn has more than 40,000 customers, offers over 4,000 products, and includes over 40 locations and 3,500 Team Dawn members worldwide
- Developed key analytics and metrics for commercial finance decisions
- Partnered with Commercial Finance Manager to reengineer RFQ process, including defining policies and procedures that optimize internal controls and establish structural efficiencies
- Developed monthly analytics and metrics for presentation to senior management
- Performed profitability analysis, sales opportunity review and strategy development for global retailer customer with APV in excess of $100M
- Dawn Food Products is an international bakery manufacturer and distributor
- Dawn has more than 40,000 customers, offers over 4,000 products, and includes over 40 locations and 3,500 Team Dawn members worldwide
Consultant Risk Advisory Services Group
Jefferson Wells International
01.2007 - 10.2010
- Company Overview: Jefferson Wells is a global professional service provider in the areas of internal audit and controls, technology risk management, tax, and finance and accounting
- Directed an internal audit team that completed a $700M price adjustment
- This price adjustment required a detailed analysis of the part cost and the related profit margins
- Performed evaluation, development and implementation of process flows and work instructions to incorporate and optimize internal controls
- Created management tools to measure and analyze financial and operational information for quarterly financial disclosure activity
- Developed automated processes to improve rigor and speed in processing of critical information
- Developed a robust financial model to project steel consumption by the company
- Developed process flow, POI and Excel model to identify and analyze excess/obsolete inventory
- This process identified approximately $30M in obsolete inventory
- Jefferson Wells is a global professional service provider in the areas of internal audit and controls, technology risk management, tax, and finance and accounting
Education
Master of Science - Finance, Concentration: Corporate Finance
WALSH COLLEGE
Troy, MIBachelor of Business Administration - Major: Accounting, Minor: Applied Economics
UNIVERSITY OF MICHIGAN
Flint, MISkills
- Financial Analysis
- GAAP/IFRS Compliance
- Reporting Processes
- DCF Modeling
- Product Margin Analysis
- Product Costing
- Capital Expenditures
- Risk Analysis
- Financial Statement Preparation
- Trend Forecasting
- Tax Compliance
- Process Re-Engineering
- Internal Control Assessment
- Executive Presentations
- ERP Systems-QAD and Infor XA
- Financial Forecasting
- Sales Forecasting
- Sales and Operational Planning
Certification
Certified Public Accountant, Michigan, 1101018019
Affiliations
- American Institute of Certified Public Accountants
- Michigan Association of Certified Public Accountants
- Financial Executives International (FEI)
- Detroit Economic Club
- University of Michigan Alumni Association
Timeline
Vice President-Finance
H & H Tool Inc.
02.2024 - Current
CFO
Lapeer Plating + Plastics, Inc.
02.2023 - 02.2024
Finance Director NA Tech Division
Syncreon
06.2020 - 02.2023
Group Controller
Aludyne
08.2013 - 06.2020
Team Leader-North America Cost Group
Nexteer Automotive, Inc.
01.2013 - 08.2013
Senior Financial Analyst-Capital
Nexteer Automotive, Inc.
09.2011 - 12.2012
Commercial Financial Analyst
Dawn Food Products, Inc.
10.2010 - 08.2011
Consultant Risk Advisory Services Group
Jefferson Wells International
01.2007 - 10.2010
Master of Science - Finance, Concentration: Corporate Finance
WALSH COLLEGE
Bachelor of Business Administration - Major: Accounting, Minor: Applied Economics
UNIVERSITY OF MICHIGAN
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