Contributions as CFO of Brookline Booksmith
As head of financial operations, was a key member of the Management Team and held primary responsibility for overseeing the company’s finances, including creating and monitoring projections and budgets, managing cash flow and financial risk, as well as financial reporting of performance and assets. Contributed value in such ways as:
Secured CARES Payroll Protection loan for the organization, protecting staff jobs and rent funds during the COVID-19 pandemic.
Provided book retail expertise and in-depth historical analysis for Projections and Budgets; for 2019, Projections were 0.9% within Actuals Sales and overall Expenses in line with Budget.
Negotiated best quality and value for health, liability, and other benefit programs on behalf of store and staff. Saved organization and staff over 10% a year (about $25k/year) in health benefit costs over renewals--while maintaining existing health coverage--by adding a new Health Reimbursement (HRA) program.
Saved nearly 35% (over $10k annually) in rubbish/recycling expenses by addressing frequent cost increases and helping to negotiate a new annual contract.
Negotiated with Commercial Insurance broker and saved nearly 10% (about $1k annually) on insurance package costs compared to proposed renewals.
Successfully managed a randomly-selected audit by the Department of Unemployment Assistance and confirmed with DUA that we were in full compliance with MGL chapter 151A.
Monitored key assets and inventory to evaluate return on assets and minimized risk exposure. Designed new reports to detail and analyze better non-returnable inventory product reports for advising Head Buyers and helping them to understand and control purchasing decisions.
Key leadership role in evaluating and pursuing Renovation & Expansion Opportunity Projects, including the Verizon Expansion and Popup Project. Created financial analysis and presentation of each scenario, including operating costs, renovation costs, breakeven, and overall payback timeline scenarios. Lead role in reviewing leases, acquiring architect and painting contractors, overseeing permit applications, and driving liquor license application process.
Designed and implemented new Accounting System and Chart of Accounts for converting outdated Mas90 to Quickbooks Online and improving reports and tracking KPIs and expenses.
Refined and created new financial presentations and trend analysis graphs for Sales, Event & A/R Programs, Payroll, Profit/Loss, Line of Credit, among other areas for clearer reporting and better meetings and discussions with Management Team, Board, and Shareholders.