KENNETH R.

KLEMENT, CPA
S67 W24485 Skyline Avenue
Waukesha, Wisconsin 53189
(262) 825-3829
kkaf430a@westpost.net
SUMMARY OF EXPERIENCE
Financial executive with over 20 years of diversified controller experience in m
anufacturing and service industries. Background in financial reporting, budgeti
ng and planning, cost accounting, general ledger, human resources, financial sys
tems and conversions, accounts payable and receivable, payroll, and capital plan
ning.
SPX Flow Technology, Delavan, WI (a division of SPX Corp.)
2009 to Present
A $200 million manufacturer of sanitary pumps, valves, and fluid processing syst
ems.
Direct consulting assignment as a Sr. Cost and Financial Analyst extracting data
from their new SAP system and converting it to insightful information for senio
r management decision making.
Waukesha Engine, Waukesha, WI (a division of Dresser, Inc.)
2005 to 2008
A $450 million manufacturer of natural gas fired engines with over 800 employees
.
Senior Budget Analyst 2007 to 2008
Responsible for reporting financials to corporate, developing annual budget and
monthly forecasts, and providing financial analysis as required for departmental
managers and division management.
* Developed alternative forecast scenarios evaluating future opportunities and r
isks. Result: Modified business plan in response to changed market conditions.
* Created and updated monthly shipment tracking reports. Result: Identified is
sues preventing shipments and identified opportunities to accelerate production.
Financial Operations Analyst 2006 to 2007
Responsible for accurately maintaining the detail backlog of unshipped engine or
ders, daily bookings, sales and backlog report, and engineering project accounti
ng for DOE, SEC, and tax credit purposes.
* Developed and documented procedures to derive engineering project costs. Resu
lt: Enabled billings to U. S. Department of Energy and recovery of research gra
nt funds to offset $2,000,000 in R&D cost.
* Researched Wisconsin use tax laws as applied to R&D materials. Result: Creat
ed methodology to improve compliance and reduce potential audit liability and ta
x penalties.
Supervisor, Accounts Payable & Special Projects 2005 to 2006
Supervised a 5 person A/P team responsible for $200 million in spending and perf
ormed a variety of general accounting duties.
* Initiated weekly review of 90 and more days past due invoices. Result: Reduc
ed delinquent items by 85% and facilitated audit certification of balance sheet.
* Completed Sarbanes-Oxley self audit to identify material weaknesses in A/P. R
esult: Developed and implemented remediation procedures to assure compliance.
* Developed new A/P invoice processing procedures. Result: Established consist
ent process to verify and prove $200,000,000 payments annually.
In between Kutzler and Waukesha, for 2003-2005:
* Completed a variety of consulting assignments.
Kutzler Express, Inc., Kenosha, WI
A $10 million family-owned local and regional trucking company with 100 drivers.
Controller 2002 to 2003
Responsible for all accounting and financial reporting activities, cash manageme
nt, accounts payable, payroll and benefit administration.
* Represented company and presented operational and financial information to cre
ditors. Result: Restored credibility and maintained integrity and availability
of line of credit.
Triad Engineering, Inc. Milwaukee, WI
A management-owned, multi-state, multi-discipline, professional engineering firm
.
Controller 1998 to 2002
Responsible for accounting, financial reporting, treasury activities, support se
rvices staff, and benefit administration.
* Evaluated and selected, and converted to new 401(k) provider. Result: Secured
more cost effective, up-to-date service provider.
* Initiated business segment profitability reporting. Result: Provided insight
s into relative profitability of different service lines.
* Implemented cost reductions in telecommunications and printing/copying expense
s. Result: Saved $35,000 annually.
* Restructured accounting and support services and improved procedures.
Result: Maintained service levels and achieved $65,000 annual savings.
* Identified and evaluated self-funded health plan alternatives. Result: Chang
ed third party administrators, lowered fixed costs, and secured lower aggregate
insured limits.
API Gettys Inc., Racine, WI (subsidiary of American Precision Industries, Inc.)
An EVA driven $11 million electric motor manufacturer.
Controller 1996 to 1997
Responsible for accounting, information systems, and human resources for this 85
employee company.
* Renegotiated service, lease and maintenance contracts and identified missed fr
eight billings. Result: Delivered $30,000 in annual benefit.
* Re-designed monthly closing procedures. Result: Accelerated monthly results
by 3 days.
* Identified and evaluated fully insured health and dental insurance alternative
s.
Result: Decreased health and dental costs by 23% while maintaining benefit leve
ls.
Nordco Inc., Milwaukee, WI (initially a subsidiary of Rexnord Inc. later sold to
Oak Industries Inc.)
A $20 million manufacturer of machinery used to maintain railroad tracks.
Vice President - Finance and Controller 1983 to 1996
Responsible for all accounting, finance, and human resources functions in suppor
t of 70 employees.
* Co-engineered profitable new rental equipment business segment. Result: Grew
business to 10% of company revenue and 15% of total profit in 4 years.
* Converted to leased computer system. Result: Reduced business system compute
r costs by 49%.
* Upgraded computer system. Result: Cut lease payments by 46%.
* Integrated Human Resources and Finance functions. Result: Saved $50,000 annu
ally.
* Revised receivable, payroll, and cost procedures. Result: Reduced monthly re
porting cycle time by 40%.
Rexnord Inc., Milwaukee, WI Prior to 1983
A diversified, worldwide Fortune 500 manufacturer with $1 billion in annual sale
s.
Held increasingly responsible positions in financial systems and accounting. Pr
omoted 4 times.
EDUCATION, CERTIFICATION AND ASSOCIATIONS
BSBA Degree, cum laude, Accounting, Marquette University - Milwaukee, Wisconsin
CPA - License #5547 - State of Wisconsin
Wisconsin Institute of Certified Public Accountants
American Institute of Certified Public Accountants