Lorenzo Rodriguez

Bilingual Financial expert and with more than 30 years of experience within the manufacturing industry, including 9 years in Automotive industry (Tier 1 and Tier2). Solid hands-on experience developing and implementing Finance and Tax strategies, this includes implementation on standard cost processes (developing and maintaining standard cost systems). Developed expertise in tax planning, operational analysis, forecasting, risk management, process implementation, change management, business opportunity investigation, strategic and financial planning, project management, and team leadership.

PROFESSIONAL EXPERIENCE

Vuteq Industries Mexico 02/2023 to Current Finance manager

Responsible for overall Finance management with a focus on improving finance performance, tax development and strategy, standard cost management, and internal control environment through the supervision on accounting, costing, treasury, taxes activities, financial reporting and financial planning (budget and forecast process) supervising 5 people for AP, AR, Taxes, Accounting and Costing process. Acts as a strategic business partner with the Plant Director, and Japanese directors.

ERP: Epicor

Major accomplishments

• Reorganization on Finance team, implementing cross training between areas, succession plans and performance reviews
• Establishment on Finance KPI ́s (cash flow targets, measurement on AR and AP KPI’s, Financial rates review)
• Improvement on Financial reports
• Follow-up on Accounting and Tax audit duties
• Implementation on tax activities paperwork
• Implementation on cost reduction plan to reduce electricity expense (change incandescent luminaire to LED luminaires)
• Implementation cost on bank fees (changing SPEI transfers to TEF)

Signify Luminarias México 10/2022 to 12/2022 Finance Business Partner

• Co-manage the business, support, and guide strategic and tactical decisions by means of sound business analysis (bus. modelling, opportunity & risk assessments, scenario analysis etc.)
• Provide advice on the financial implications of business activities and take accountability for reviewing financial business cases on investments and resource allocation (e.g. marketing programs, R&D expenses, capex)
• Co-manage the outcome of financial planning processes (Target setting, quarterly forecast), working closely with business management to optimize value drivers and manage risk
• Monitor the financial position of the business. Identify risks and opportunities to current financial projections and take corrective actions where needed (e.g., margin improvement, cost improvements, productivity improvement)
• Connect with the Financial Controller on any Accounting Operations topics and where appropriate, ensure input is provided to ensure completeness of External, Statutory reporting and Tax requirements.
• Take ownership for the integrity of business results, business ethics, and financial risk management. Sign off the financial statements of the ORUs in scope

ERP: SAP (FI and CO modules)

Shelby Manufacturing de México, San Luis Potosí, S.L.P. 07/2019 to 10/2022 Senior Financial Controller (Head of Finance)

Responsible for overall Finance management of 2 facilities (SLP and Puebla) with a focus on improving finance performance, standard cost management, and internal control environment through the supervision on accounting, costing, treasury, and taxes activities (supervising 15 people). Acts as a strategic business partner with the Plant Director, Mexico Operations VP and Corporate CFO.

ERP: Contpaq and Adminpaq and SAP (FI and CO modules)

Major accomplishments

• Standard cost process implementation, including the setup of costing variables in our system (Materials, Direct Labor and Overhead)
• Implementing Financial KPI ́s for the organization (Plant gain, Operating and Inventory Ratios, Fill rate, Scrap measure, Collection and payables days and analysis on Economic Value-Added rate
• Merging process between operational and commercial entities, including the analysis of tax and legal implications, accounting consolidation and electronic invoicing process.
• Improving internal control environment, as responsible of the new procedures on cash, inventory, AP, AR, IT and HR.
• Reorganization on Finance team, implementing cross training between areas, succession plans and performance reviews.
• Implementing follow-up of contribution margin per customer and per product
• Implementation of Budget and Forecast process in the company.
• Reorganization on bank accounts

Borgwarner PDS Irapuato, Irapuato, Gto 08/2018 to 07/2019 Finance Manager / Controller

Supervising 5 people in Finance area and responsible of all Finance activities for Irapuato facility including the following activities: Standard cost set up and coordination), Inventory control (including coordination and review on the cycle counts and annual physical inventory) , KPI ́s review, budgeting process, quoting for new Projects, Control on fixed assets, Taxes review, Treasury activities, accounts payable, and accounts receivable functions, managing financial reports to Corporate and also responsible for internal control management of the company (SOX). Reporting in US and MEXGAAP

ERP: SAP (FI and CO modules)

Major accomplishments

• Implementation of cost savings program for 2018 and 2019 (savings for 1MM USD in operating expenses, mainly maintenance)
• Improving DSO (Days Sales outstanding) from 62 to 35 days (Aug 18 to Mar 19). On this, the key to have this success was the strategy implement with our main customer Chrysler.
• Improving cash flow from 6MM USD to 10MM USD due the collections recovery
• Implementation on cross training programs for the Finance team
• Good performance on internal audit in 2018 due to the review of internal processes and the implementation of improvements in these processes, especially in inventories and human resources

Acero Prime, San Luis Potosi 04/2015 to 05/2018 Corporate Finance Manager

Supervising 5 people and responsible of all Finance activities for 4 facilities (SLP, Ramos Arizpe, Monterrey, and Toluca), including Inventory control, costing process, KPI ́s review, budgeting process, Control of fixed assets, taxes, treasury, accounts payable, an accounts receivable functions, managing financial reports to Corporate and also responsible for internal control management of the company (SOX). Excellent knowledge of MEXGAAP and USGAAP. Participating in a quarter in Board Meeting, presenting financial and operational information.

ERP: ESMART (Accounting and Operating modules, including Costing and Inventory control)

Major accomplishments

• A new costing process based on the services provided was implemented, generating 15% improvements in the contribution margin
• The investment project for the new plant in Monterrey was developed, which allowed us to expand our market in that area
• New strategies were designed to reduce variable and fixed costs that allowed savings of 10% in net income from 2015 to 2017
• Development and implementation of the new ERP (Esmart) in conjunction with the IT area, which allowed to have a better control of the operations of the business, especially the costing process.
• Change bank account from Banorte to HSBC. This was a synergy with our new corporate (Relliance)
• Improve DSO from 62 to 45 days due to the improvement in our electronic invoicing process
• Improve cash flow from 5MM USD to 12MM USD from 2015 to 2017

Summit Plastics Silao, Silao, Gto. 02/2014 to 04/2015 Finance Manager

Straight supervision of 10 people (Costing, treasury, taxes, accounts payable, accounts receivable, payroll and IT areas) and responsible of the financial strategy for an automotive facility with a headcount of 987 people, covering the following main activities: Costing (Standard Cost), inventory controls, financial analysis, accounting, fixed assets control, budgets, medium term plans, short term forecasts, IT, taxes, treasury, accounts payable, and accounts receivable, preparing financial reports to Corporate and also responsible for internal control management and CAPEX and Customer Tooling budgets. Excellent knowledge of MEXGAAP, IFRS. Inform in a monthly basis the Finance information to the CEO and CFO of the company, presenting it in Board meeting sessions.

ERP: SAP (FI and CO modules)

Major accomplishments

• Development of the costing area, training the staff and doing the set-up in the ERP of the different variables of the standard cost. In addition, the documented costing procedure was generated.
• Implementation in the ERP of electronic accounting, supporting Corporate IT on the set-up.
• Reorganization of Finance team to improve internal environment
• Effective control of variable and fixed costs (strategies to reduce costs in 10%

from 2014 to 2015)

• Effective implementation of internal controls (following the Corporate Accounting procedures)
• Creating effective KPI ́s to measure scrap, operating expenses, and financial performance (financial rates)
• Implementing contribution margin per customer and per product reports
• Implementation and analysis of new project investments (X12F and H60A with Nissan, K2XX with GM and S550 with Ford), collecting the basis information regarding Material, Scrap factor, Labor, Variable and Fixed Costs and maintain an excellent control of all the Capital expenditure and Tooling expenses related to all these projects.
• Implement actions to reduce Cost per Standard Hour related to Labor and Overhead
• Strategies to reduce scrap levels from 2.4% to 1.2% in 2014
• Implementation of new payroll system (TRESS)

TI GROUP AUTOMOTIVE, San Luis Potosi, S.L.P. 08/2010 to 02/2014 Plant Controller

Responsible for the financial control for 2 facilities (Fuel Tanks and Pump and Module). Management of all Finance (Financial Analysis), Accounting, Costing, fixed assets, budgets and Medium-Term plans, short term forecasts,taxes, treasury, accounts payable, and accounts receivable functions, managing financial reports to Corporate and also responsible for internal control management and CAPEX and Customer Tooling budgets. Excellent knowledge of NIFS, IFRS.

Presenting information to Finance and Operations Vice-presidents in a monthly basis.

Major accomplishments

• Complete start-up of new plants in SLP for fuel tanks and Pump and module divisions, setting-up the ERP for costing, inventory, and accounting activities
• Complete documentation on Standard cost procedures
• Developed annual and medium-term business plan and associated actions to support plan attainment (EBITDA improvement year over year 25% achieved).
• Provided Finance and Operations Metrics (KPI’s) to ensure performance to stated objectives – daily and monthly
• Ensured accurate forecasting and month end processes, analysis, and reporting
• Facilitated control environment and ensure effectiveness.
• Developed required adjustments from UK GAAP to IFRS (GAAP Conversion)

ERP: BPCS (Accounting and Operating modules, including Costing and Inventory control)

LEGGET & PLATT, DIVISION KELMAX LOPEZ MANUFACTURING,

SAN LUIS POTOSI, Dec 2008- Aug 2010 Plant Controller

Reporting to the Branch Manager in SLP and the corporate at Georgia and Missouri, and supervising 4 people (1 accounting assistant, 1 payable assistant, 1 Receivables assistant, 1 HR coordinator).

ERP: LPSCALA (Accounting and Operating modules, including Costing and Inventory control)

Major accomplishments

• Standard costing setup and updating
• Recovered VAT balances pending from prior years that have improved cash balances ($150k USD to $760k USD)
• Implemented internal control procedures according SOX policies
• Operating expenses analysis (they were reduced 15%) that permitted improve our sales return and EBITDA

LEGGET & PLATT, DIVISION HANES INDUSTRIES,

SAN LUIS POTOSI, Sep 2003- Nov 2008 Plant Controller

Reporting to the Branch Manager in SLP and the corporate at North Carolina and Missouri, and supervising 8 people (1 accounting assistant, 1 payable assistant, 1 Receivables assistant, 1 HR coordinator, and 4 collections representatives in locations)

ERP: LPSCALA (Accounting and Operating modules, including Costing and Inventory control)

Major accomplishments

• Implementation of reengineering process regarding the participation in new markets with different products that permitted improve our Contribution Margin from 23% to 28% in 2004
• Launching costing area, implementing procedures, new set-up, and training people for this area.
• Implementing investments projects regarding the purchase of new sewing equipment that increase our productivity and savings in Labor and Maintenance expenses.
• Improve company return through effective strategies of expenses control and actively participating on sales strategies (2003: EBIT: -3%, 2008: EBIT:8.6%)
• Improve collections levels increasing cash balances (2003: $154k USD – 2008:

$1.5 MM USD)

• Implement internal control procedures according to SOX policies
• Participate in the implementation of the inventory control system in our locations

(bar code system) in 2004 that reduced inconsistencies in the information

EDUCATION & CERTIFICATIONS

Master in Business Admistration MBA with HR emphasis.

Universidad Tecmilenio, 2018-2020.

Master in Business Admistration MBA with Finance emphasis.

Universidad del Valle de México, 2004-2006.

Finance Diploma.

Universidad Autónoma de San Luis Potosí., 1999-2001.

B.S. in Business Administration.

Universidad del Centro de México., 1987-1991.