J. Frank Phillips
Chartered Accountant
Pottstown,Pa
Summary
Experienced CFO of International affiliates. Experience working throughout Latin America as well as in Africa, reporting in USGAAP and IFRS, financial /cash management, new project analysis and negotiation, team building in start-up/development of new business ventures, process improvement, ERP system implementation, Multilingual, European and US national.
Overview
19
19
years of professional experience
4
4
Languages
Work History
Consultant
Consultant to small private investment group
05.2023 - Current
Finance Director (CFO)
Seaboard Corp’s CIPA
08.2011 - 05.2023
- Company Overview: CIPA is a $90 million sales multi location industrial business engaged in the production of animal feed and pork
- The position involved the supervision of the Accounting, HR, IT, Treasury, Taxation, and Industrial Safety Departments
- While in Medellin, I reduced the financial transactions tax bill by more than $100,000 p.a.by adjusting the payment process for imported materials
- Negotiated new long-term finance, despite a poor balance sheet and no corporate guarantees
- Brought 10-year securitization of receivables process to the bond registration stage
- Cleaned up processes and accounting for USD hedging system, eliminating $90k in losses
- Generated savings of $1 million by adjusting hedging policy when the peso devalued suddenly in late 2014-15
- At CIPA I worked with the new CEO, appointed at the same time to establish a new strategic direction and lead changes in the culture to a more positive 'yes we can' attitude to grow the company by 40 % in 3 years, improving margins, increasing efficiencies and restoring the company to profitability
- Re-negotiated bank interest rates on refinanced debt over 5 years in place of existing 2 year maximum
- CIPA is a $90 million sales multi location industrial business engaged in the production of animal feed and pork
Financial Director (CFO)
Lesotho Flour Mills
09.2008 - 08.2011
- Company Overview: Lesotho Flour Mills is a $50 million sales company, processing flour from wheat and Corn with 200 employees (26 in Finance)
- The critical areas were financing and cash planning, inventory control and implementation of the MS Dynamics inventory module
- I advised scrapping of a commodity finance plan being presented by the banks to create savings and improve efficiency
- Put in place local currency finance at lower rates which combined with other factors helped reduce interest costs by 32% ($500,000) from 2009 to 2010
- Negotiated multi-million-dollar asset backed finance with local banks for the acquisition of a new flour mill and packing lines in Lesotho
- Lesotho Flour Mills is a $50 million sales company, processing flour from wheat and Corn with 200 employees (26 in Finance)
Directeur Financier, Les Moulins de Madagascar (CFO)
Les Moulins de Madagascar
02.2006 - 08.2008
- Company Overview: This was a start-up Seaboard flour milling operation in Madagascar with $35 million in Sales and 180 employees
- I hired the entire finance department along with outside advisors and bankers
- Served as stand-in CEO during the CEO’s frequent overseas trips on company business
- While there, I put in place financing in local currency and in dollars to minimize exchange risk and optimize interest costs
- Set up internal control systems, oversaw audits and ensured compliance with Sarbox
- My research of Madagascar tax law revealed an exemption which allowed the company save $1M in taxes
- This was a start-up Seaboard flour milling operation in Madagascar with $35 million in Sales and 180 employees
Education
Chartered Accountant
University College Dublin
Dublin, Ireland06-1978
Skills
- Financial management
- Business Planning
- Budget Analysis
- Leadership
- Motivation
- Operations management
- Technology change
- Process change
- Efficiency improvement
- Cost savings
- Inventory control
- Cash management
- Growth strategy development
- Performance management
- Commodities knowledge
Problem-solving
Otherexperience
I have also worked in a variety of positions of increasing responsibility at Hand & Harman Refining Group, Engelhard Corp, Pfizer and PWC.
Timeline
Consultant
Consultant to small private investment group
05.2023 - Current
Finance Director (CFO)
Seaboard Corp’s CIPA
08.2011 - 05.2023
Financial Director (CFO)
Lesotho Flour Mills
09.2008 - 08.2011
Directeur Financier, Les Moulins de Madagascar (CFO)
Les Moulins de Madagascar
02.2006 - 08.2008
Chartered Accountant
University College Dublin
Similar Profiles
Tshifhiwa Cypress NephaweTshifhiwa Cypress Nephawe
Self-starting / Self-employed at Independent Investment Analyst/Advisory ConsultantSelf-starting / Self-employed at Independent Investment Analyst/Advisory Consultant
Sri Venu Gopal BolluSri Venu Gopal Bollu
Data Engineer at Decision Consultant Solutions India Private LimitedData Engineer at Decision Consultant Solutions India Private Limited
PRIYANKA GANDHIPRIYANKA GANDHI
Executive-Business Analyst/Account Manager at Xerago E-Biz Services Private Limited(Project-Ujjivan Small Finance Bank)Executive-Business Analyst/Account Manager at Xerago E-Biz Services Private Limited(Project-Ujjivan Small Finance Bank)