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| DYNAMIC HOMECARE, INC. – Charleston, Illinois |
2001–2005 |
Negotiated purchase and led startup of home healthcare, hospice, and private duty business providing professional in-home patient services including nursing, physical therapy, home health aid, social work, and non-skilled private duty care. Grew company to $3.5+ million in revenues and market value of 8 times original purchase price.
Partner/Chief Financial Officer (CFO)
Directed all business administration, financial, marketing, and information systems departments, providing leadership and P&L responsibility for day-to-day administrative duties within the corporation. Supervised professional staff managing financial reporting, marketing, billing, accounts payable/receivable, human resources, and information systems. Established enhanced benefits package through contract negotiation and administration. Designed billing system that eliminated extensive A/R backlog. Used various accounting software to develop extensive list of accounts that captured all possible revenue and expense items and aided in development of annual cost report, financial reports, and analysis of critical cost-per-visit information.
Key Accomplishments:
- Dramatically increased gross revenues by more than 450% through program enhancements and revenue diversification, building private duty and hospice services each to 20% of revenues.
- Saved 42% of patient admission processing time and reduced volume of paper charts by 64% through implementation of new computer system and delivery of laptops to all field staff.
- Improved billing accuracy by 56% to 98.3% through process improvement analysis and development of customized in-house billing system.
- Significantly increased, by more than 300%, the number of incoming referrals and patient admissions.
- Reduced A/R outstanding from 120+ days average to 37 days, greatly improving cash flow.
- Successfully and profitably renegotiated contracts with 90% of 6,000+ insurance companies and provided account management with those insurance companies and with other medical providers.
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| IFS FINANCIAL SERVICES, INC., TOUCHSTONE SECURITIES INC., AND INTEGRATED FUND SERVICES, INC. (SUBSIDIARIES OF WESTERN-SOUTHERN LIFE) – Cincinnati, Ohio |
1994–2001 |
Organizations responsible for the distribution of financial products and services to a nationwide client list with primary focus on mutual funds, variable annuities and fixed annuities distributed through financial institutions, broker/dealers, and RIAs.
Sr. Vice President / COO, Integrated Fund Services, Inc. (1999-2001)
Oversaw 83-member team in directing all aspects of financial performance, P&L accountability, relationship management, operations, IT, and strategic planning. Reengineered fund accounting/financial reporting to meet regulatory requirements.
Key Accomplishments:
- Participated on executive team that researched and facilitated $22 million merger and acquisition of Integrated Countrywide Funds and a private RIA with a reported value of $50 million.
- Reduced associate turnover from 31% to less than 2% and significantly improved team morale by improving hiring profile, equitably assigning clients, and immediately addressing personnel issues, while net asset value (NAV) calculation quality remained at greater than 99.95%.
- Achieved 90% client retention rate by improving service standards to levels ahead of client expectations and demands and promoting open and honest client communications.
- Within 90 days of acquisition, selected new core TA system, image and workflow technology, enhanced telecommunications system, and automated fund performance to address client concerns and prevent the imminent wholesale loss of client base.
- Reduced average call wait-time to less than 45 seconds from a high of 35 minutes and improved quality processing to more than 98%.
Vice President, Marketing Services and Administration, IFS Financial Services, Inc. (1994-1999)
Oversaw the wholesale distribution of financial products and services (mutual funds, variable annuities, and fixed annuities) to financial institutions, broker/dealers, and RIAs. Led team of professionals that provided marketing and sales support and administrative team that handled IFS Financial Services compliance/licensing, fund administration, systems, financial budgeting, and financial P&L performance. Worked with multiple RIAs in a Manage-the-Manager concept for compliance, firm review, and performance. Managed the outsourcing of services, completion of annual audits, and financial reporting requirements for all products.
Key Accomplishments:
- Increased annual sales to more than $700 million from $170 million through aggressive sales and product training, new 1:1 ratio of associates to territories, and proactive contact plan with incentives.
- Earned continuous national team recognition from American Bankers Association (3 years), Dalbar, Inc. (2 years), and Matrix Marketing for superior sales and service support to financial institutions.
- Decreased commission processing time from 7 business days to less than 2 business days by analyzing root cause and implementing superior processes.
- Dramatically improved communication, efficiency, and amount of client information provided to field staff by participating in legacy system conversions, creating a relational database, and implementing image workflow distribution software.
- Significantly enhanced communication and activity levels with field wholesalers through implementation of SalesPage sales tracking software.
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| PROVIDIAN CAPITAL MANAGEMENT – Louisville, Kentucky |
1993–1994 |
Wholesale distribution subsidiary of Providian Life Insurance Company, distributing products (GIC, fixed annuities, immediate annuities, and variable annuities) and services to financial institutions, broker/dealers, and RIAs.
Director of Strategic Marketing
Managed new business venture, in concert with distribution channels, whose function was selling financial products through direct response marketing to individual consumers. Oversaw product selection, systems development, and sales staff training. As President of the Broker/Dealer department, ensured regulatory compliance with securities and insurance industries for all distribution channels and managed budgeting, forecasting, and data analysis. Directed a project through MIS to develop a customer management database.
Key Accomplishments:
- Spearheaded direct marketing campaigns that generated a 3% response rate to materials from consumers and oversaw affiliated distribution campaigns that generated an 11% response rate with increased sales.
- Implemented fixed annuity conservation program retaining more than 60% ($350 million) of a single block of business in support of the distribution channel participants.
- Reengineered the distribution service center to meet the changing needs of the broker/dealer and RIA channels, while significantly reducing costs by 30% and enhancing the individual consumer experience.
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| FIDELITY INVESTMENTS – Boston, Massachusetts |
1985–1993 |
Premier financial services firm providing a wide range of products and services directly to the consumer. Primary product at the time was a large family of mutual funds, as well as institutional and brokerage trading for clients.
Director, Customer Service and Sales, Cincinnati, Ohio
Directed a team of 12 managers with total staff of 130+ team members in the development of a customer telemarketing center for the sales and service of mutual fund portfolios. Developed and implemented $7 million annual operating plans which included staff planning, guidelines for team management, compliance, and objectives for quality customer service.
Key Accomplishments:
- Staffed Cincinnati site for 18-hour, 6-day a week coverage, and earned national service award as the top performing Fidelity telemarketing service center.
- Established more than 30 local and national business relationships for both the build-out and ongoing business operation in new Midwest market.
- After the Cincinnati telephone center completed its first year, the national organization targeted the site to take a larger portion of business, ultimately doubling call volume to an average of 17,000+ phone calls per day.
- As Manager of Support Services, oversaw construction of call center site, delivering project three weeks early and 15% under budget.
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