John D. Cowden
Amherst,Wisconsin
Summary
CAREER SUMMARY
A senior level executive with over 30 years of progressive experience contributing strategic initiatives across multiple industries. A leader, mentor and coach that places a strong emphasis on staff development that contributes to the financial and/or operational objectives of an organization.
Overview
37
37
years of professional experience
Work History
Chief Financial Officer
Simon Group Holdings
Birmingham, Michigan
01.2020 - Current
- Responsible strategic management of all of Simon Group Holdings companies and investments for improving cash management, cost controls and business development, creating zero based budgeting, cash forecasting and due diligence models.
- Partnering with Chairman/CEO/Owner and business leaders to develop new business, investment opportunities and improve margins on existing businesses.
- Manage Simon Group Holdings Accounting, Treasury, Human Resources, Information Technology, Business Processes and Controls and Audit functions along with oversite of these functions for all company subsidiaries.
- Lead Treasury function overseeing company’s investment and banking relationships.
- Negotiated and oversaw new credit facility for $1.7 billion subsidiary.
- Created 13-week and 26-week cash flows projections to help navigate short term growth and investment strategies.
- Implemented Process and Controls function for entire corporation creating use of Lean principles throughout the functions of the businesses.
- Lead and navigated turn-around of company’s largest subsidiary emerging from COVID 2020 with strong cash flow and growth opportunities.
- Re-aligned back office functions leaning out costs while improving talent for the future.
- Prepared Subsidiary for divestiture opportunities.
- Divested subsidiary business units.
Chief Financial Officer & Treasurer
Jewelers Mutual Insurance Company
Neenah, Wisconsin
01.2018 - 01.2019
- Responsible strategic management for improving cash management, cost controls and business development, creating zero based budgeting, cash forecasting and due diligence models.
- Partnering with business leaders to develop new business and improve margins on existing businesses.
- Managed Accounting, Treasury, Actuary, Real Estate and Audit functions.
- While participating in the oversite of I.T.
- Security, Vendor Management and Customer Care.
- Served as a Corporate Officer from 2018 to 2019.
- Lead Treasury function overseeing company investments that lead surplus growth of 9.1% for year.
- Identified $100 million of debt financing with Federal Home Loan Bank at rates lower than commercial bank.
- Oversaw Enterprise Rick Management incorporating into all aspects of business insuring proper identification and remediation of identified risks.
- Lead due diligence process for potential acquisition allowing Jewelers Mutual to grow market share in MGA/MGU market.
- Instituted Audit Governance Team providing a cross functional approach to oversite of internal audit that brought a more wholistic approach into internal audit.
- Created an agile approach to internal audit function that allows flexibility in determining highest risk in an ever-changing business environment that ensure internal audit is focusing on key areas.
- Executive oversite of company’s community involvement team overseeing $500,000 in local donations annually.
- Created cash forecast model identifying opportunities for timing of investing additional cash created from surplus growth.
- Implemented zero based budgeting creating $3.0+ million in potential cost savings.
- Reorganized accounting team to support new PNL driven business with the creation of business controllers.
- Worked with Legal department in restructuring company into a Mutual Holding Company to align structure for future non-insurance growth.
- Lead team redesigning the company headquarters to improve the work environment to meet the expectation of modern workforce,.
- Lead actuary team in improving rating metrics for AM Best which insured Jewelers Mutual maintaining an A+ Superior rating.
- Partnered with actuary to create a model to determine minimum/maximum thresholds for short- and long-term employee incentive plans.
- Moved non-qualified plan from a traditional high-risk plan to a Rabbi Trust eliminating risk company management changes to the plan.
Chief Financial Officer
Berkshire Hathaway Specialty Concierge – Noel Group
Stevens Point, Wisconsin
01.2012 - 01.2018
- Responsible for establishing cash and financial controls, creating business processes, streamlining Human Resources, and partnering in development of businesses and management team; overseeing management teams such as Accounting, Finance, Actuary, Human Resources, Compliance, Legal, Training, Purchasing, Real Estate, and Project Management.
- Created first Delegation of Authority policy to assist in creating business processes with controls.
- Implemented a five-day closing process to provide senior management with timely reporting which was utilized to establish metrics.
- Partnered with multiple banks to institute a cash management system which ensured cash was readily accessible for business needs.
- Created approval process for proposed policy pricing with underwriting that lead to standard pricing and improved margins.
- Approved and managed actuary studies to determine nationwide rates for products.
- Developed Premium reporting guidelines for Written and Earned Premium insuring proper statutory reporting to authorities.
- Re-aligned accounting function and created spending controls, authority and accounting practices ensuring compliance with US GAAP.
- Collaborated with Actuary and Underwriting teams to evaluate and control risk, and assess partnering with companies to share risk.
- Successfully implemented SOX, PCI and HIPAA compliance processes.
- Established and maintained banking relationships to improve cash position.
- Created ROI model for pricing new business and implemented cross functional approval process that streamlined on-boarding of new customers and insured ROI targets were met.
- Created and managed budgeting process implementing zero based budgeting aligning spend with earning targets and revenue growth.
- Led three business segments to positive earnings.
- Implemented business and operation metrics to align company with budget goals.
- Created company-wide policy and procedures manual for all business activities to ensure company was in compliance with insurance and accounting regulations.
- Developed an in-depth dash board to review business segments on a daily, weekly, monthly and YTD basis.
- Developed a benefit package which reduced premiums by 20%, and improved medical, optical and dental coverage.
- Implemented Wellness program which reduced benefit costs and improved team morale.
- Realigned Human Resource function which reduced operation attrition by 20%.
- Instituted Compliance function which ensured proper licensing for company and agents in every state.
- Launched Lean principles for use in administrative functions eliminating paper and reducing need for additional hires as company revenue grew.
- Implemented “The 7 Habits of Highly Effective People” as a company culture and replaced outdated annual review process with monthly “Win-Win” employee one on one meetings improving communication throughout the organization.
- Created company-wide bonus program to drive strategic goals.
- Managed the owner’s personal wealth of over $100 million until acquisition.
- Led contract negotiations and business modeling for new business venture which is forecasted to be $1.1 billion in revenue over seven years.
- Developed plan that allowed team members time for community involvement which enhanced work-life balance.
- Consolidated the payroll and accounts payable functions reducing number of FTE’s required while improving efficiencies and controls.
Chief Financial Officer
QCSA Holdings
Eldridge, Iowa
01.2010 - 01.2012
- Responsible for implementing financial controls and processes, consolidating companies, and meeting expectations of Board of Directors; and managing various functions including IT, Accounting, Credit, Titling, Settlement, Human Resources, Legal, Business Improvement and Facility Management.
- Served as a Corporate Officer from 2010 to 2012.
- Initiated Lean principles and implemented “green belt” team to assist the company in creating a Lean environment.
- Managed the integration of independently owned companies into one business with consistent processes and streamlined work force to eliminate redundancy.
- Merged technology systems, in half the time that was originally communicated to the Board of Directors which streamlined and automated business processes.
- Nurtured banking relationship to increase credit availability while reducing interest by six basis points.
- Implemented cash controls and process to improve cash flow.
- Created and implemented a Delegation of Authority policy and instituted controls to ensure compliance.
- Instituted financial reporting packages for management, board and external constituents allowing consistency and transparency to company financials.
- Increased AP working with vendors on terms reducing working capital through downturn to maintain positive cash flow.
- Merged human resource processes into a single benefit plan which lowered the cost of health care options and maintained previous year’s cost levels.
- Led the creation of a consolidated employee handbook and company policies form employees.
Division Controller
Gamber Johnson
Stevens Point, Wisconsin
01.2009 - 01.2010
- Responsible for the oversite of operations, purchasing, I.T., and accounting.
- Initiated Lean principles into front office while maintaining Sarbanes-Oxley controls streamlining process.
- Implemented Lean principles in the manufacturing operations reducing waste and improving quality.
- Incorporated accounting and IT functions into company’s corporate umbrella.
- Created standard terms for receivables and payables reducing working capital through downturn and maintained positive cash flow.
- Successfully implemented upgraded business software with no business interruptions.
Consultant
Stevens Point, Wisconsin
01.2008 - 01.2009
Business Owner
ThyssenKrupp Waupaca Foundry
Waupaca, Wisconsin
01.2004 - 01.2008
- Responsible for analyzing and developing business opportunities for, both domestic U.S.
- And international, companies and entrepreneurs.
- Reviewed and developed a plan for an international company to enter the U.S.
- Market exploring options for a green field operation, joint venture or acquisition.
- Developed business metrics for a $400 million company which gave executive management access to timely concise business data.
- Evaluated the business and financial feasibility of multiple domestic and internationally based companies, for entrepreneurs, ranging from internet companies to retail companies to manufacturing businesses.
Chief Financial and Administration Officer
Delco Remy International
, IN
01.1996 - 01.2004
- Responsible for managing multiple functions including accounting, finance, purchasing, information technology, payroll, legal, environmental, building and grounds, and aviation departments; negotiating long term contracts with key suppliers and customers; Managing reporting to International parent company, and to all cash functions including Credit, Accounts Receivable, Accounts Payable, Inventory, Banking, and Foreign Currency Hedging; managing $40-$50 million of capital expenditures annually and more than 100 employees.
- Instituted financial controls, policy and procedures to ensure proper accounting.
- Instituted internal audit functions and implemented processes using process owners to ensure proper procedures controls were being followed.
- Developed accounting and finance organization to support a $1.3 billion company.
- Implemented monthly operation reviews of the 5 manufacturing locations which….
- Successfully managed the implementation of SAP as the primary IT system.
- Implemented the first six sigma green belt streamlining back office process with lean approach eliminating paper processes.
- Created the capital appropriation needed for a $162 million plant expansion.
- Instituted process for collecting older receivable reducing overall AR by three days and reduced past due over 30 days to less than 0.5%.
- Identified opportunity to reduce the number of terms offered increasing days in Account Payable by five day and redefined payment terms to allow only three options.
- Led the change in Pension and 401K providers to allow more flexibility to the employees and increase overall returns.
- Led team in studying possible expansion into Mexico.
- Managed legal department’s development of proper purchase order language to reduce company risk.
- Managed environmental expenditures to ensure meeting and surpassing government regulations for the future.
- Instituted inventory guidelines which reduced slow moving stock room inventory to less than two years and overall production inventory two days.
- Participated as a member of Executive Management Team and ThyssenKrupp Waupaca Board of Directors.
Vice President of Finance
01.1999 - 01.2004
- Responsible for leading the global financial organization.
- Assigned to aftermarket division in July 2003 for turnaround.
- Responsible for the overall financial performance of the division while maintaining the highest degree of integrity and ethics in all financial aspects.
- Assumed interim expanded role of global purchasing in May 2000.
- Responsible for the development of the global supply chain footprint creating the highest total economic value for the company.
Vice President of Finance
Aftermarket
01.2002 - 01.2004
- Responsible for directing and leading five Divisions financial functions, with $450 million of domestic sales.
- Created the Divisions financial controls, policy and procedures which brought consistency and common control to all businesses.
- Successfully created a process to accurately forecast monthly, quarterly and annual results.
- Implemented daily and monthly metrics to ensure attainment of financial goals.
- Led the negotiations for the divestiture of one underperforming business.
- Implemented new core policy to ensure ability to compete in retail market.
- Implemented cash control procedures to generate positive cash flow for entire aftermarket.
- Created budget process that drove discipline into the process giving credibility to the numbers which attained budget initiatives and results for first time in 1st quarter 2004.
- Prepared and delivered division business and financial presentations to Corporate Board of Directors.
Vice President of Finance
01.1999 - 01.2002
- Responsible for directing and lead financial functions, over 70 professionals, of $550 million worldwide division.
- Created financial controls, policy and procedures to ensure proper financial performance while achieving corporate expectations.
- Member of executive strategy board assigned to board of director position with international joint ventures.
- Developed strategy which included a combination of headcount reduction, contract reduction, travel and indirect spending controls to eliminate $7 million of SEA costs.
- Led negotiation to buy out Delco Remy Mexico joint venture partner, which allowed for further expansion in market while maintaining earnings objectives.
- Prepared strategy for reduction of North American manufacturing locations throughout sourcing of component manufacturing to low cost operations, combining existing capacity and rationalizing workforce resulting in $14 million cost reduction.
- Integrated acquired remanufacturing businesses into one business unit with a common focus and strategy.
- Implemented remanufacturing core eligibility tracking which reduced over returned inventory and increased the integrity of valuation of core inventory.
- Directed cash management initiatives which resulted in a net positive cash flow through reduction in working capital, positive earnings and capital spending controls.
- Reorganized purchasing to react to global and regional requirements while implementing value stream mapping resulting in $12 million annual OE material savings and created synergies with the aftermarket operations resulting in an additional $2 million in cost savings.
- Directed short- and long-term business growth initiatives with 10% compounded annual growth rate while maintaining 20% ROIC.
- Developed OE and aftermarket inventory tracking and cycle counting process which eliminated multimillion-dollar fluctuations.
- Managed negotiations and due diligence process of proposed ventures focusing on corporate cash and earning criteria.
- Instituted acquisition strategies through synergy process to ensure business and financial goals are achieved.
- Led business unit through global restructuring with annual savings of $27.6 million.
- Prepared and delivered division business and financial presentations to Corporate Board of Directors.
Director, Business Unit Controller
01.1997 - 01.1999
- Responsible for serving public and corporate planning and reporting requirements, developing and implementing processes and procedures to serve a publicly held company, and creating monthly, annual and long term planning and reporting process for corporation.
- Prepared financial data and presentation used for the IPO and bond offerings prospectus.
- Lead person at IPO printing.
- Instituted corporate policy and procedures to meet SEC quarterly and annual reporting requirements.
- Created policy and procedure manual to ensure corporate entities followed GAAP regulations.
- Developed financial reporting package for the Board of Directors giving brief overview of monthly financials and key metrics.
- Implemented financial reporting software developing standardized reports and information database.
- Delco Remy America – Heavy Duty Division.
01.1996 - 01.1997
- Responsible for elevating financial results of a $250 million under performing division, and operations financial results and integrity of information presented to senior management.
- Created and instituted “blocking & tackling” measurements such as first-time quality, productivity, scrap, overtime and order fulfillment.
- Developed reorganization of division operations from being highly vertically integrated to a focus factory concept.
- Developed monthly financial reporting to division GM highlighting opportunity areas resulting in reporting first positive EBIT and cash flow.
- Identified opportunity to further penetrate OES market segment with coreless alternator program.
Eaton Corporation
01.1989 - 01.1996
Education
Bachelor of Business Administration - undefined
Western Michigan University
Skills
- A, Government, Supply chain
- Accounting, Human Resource, Treasury
- Accounts Payable, Human Resources, Valuation
- Accounts Receivable, Information Technology, Vendor Management
- Administrative, Insurance, Written
- Agile, Inventory
- AP, Investments
- Approach, Legal
- AR, Director
- Balance, Managing
- Banking, Market
- Budgeting, Meetings
- Budget, Access
- Business development, Office
- Business modeling, Win
- Business Processes, 2000
- Cash flow, Negotiation
- Cash management, Negotiations
- Closing, Negotiating
- Concept, Enterprise
- Concise, Payables
- Contracts, Payroll
- Contract negotiations, PCI
- Cost reduction, Policies
- Credit, Presentations
- Customer Care, Pricing
- Database, Processes
- Directing, Project Management
- Due diligence, Purchasing
- Senior management, Quality
- Executive Management, Real Estate
- Financing, Reporting
- Financials, Retail
- Finance, Sales
- Financial, SAP
- Financial reporting, Sarbanes-Oxley
- Focus, Six sigma
- Forecasting, Strategy
- Front office, Strategic
- Functional, Strategic management
Affiliations
Portage County Business Council, Board of Directors 2017 - 2018
Aqua Finance, Board of Directors 2012 - 2018
Compass Scholars, Board of Directors 2014 - 2018
Tomorrow River Lions Members, Member 2006 – 2020
Portage County Fair of Amherst, Board Member 2006 – 2020
LBW Rodeo Amherst, Chair 2013 – 2020
Advocacy and Awareness Steering Committee, Member 2017 - 2018
Timeline
Chief Financial Officer
Simon Group Holdings
01.2020 - Current
Chief Financial Officer & Treasurer
Jewelers Mutual Insurance Company
01.2018 - 01.2019
Chief Financial Officer
Berkshire Hathaway Specialty Concierge – Noel Group
01.2012 - 01.2018
Chief Financial Officer
QCSA Holdings
01.2010 - 01.2012
Division Controller
Gamber Johnson
01.2009 - 01.2010
Consultant
01.2008 - 01.2009
Business Owner
ThyssenKrupp Waupaca Foundry
01.2004 - 01.2008
Vice President of Finance
Aftermarket
01.2002 - 01.2004
Vice President of Finance
01.1999 - 01.2004
Vice President of Finance
01.1999 - 01.2002
Director, Business Unit Controller
01.1997 - 01.1999
Chief Financial and Administration Officer
Delco Remy International
01.1996 - 01.2004
01.1996 - 01.1997
Eaton Corporation
01.1989 - 01.1996
Bachelor of Business Administration - undefined
Western Michigan University