Ian Wint

Summary

An experienced Finance Director, Ian Wint has worked in both privately owned and listed UK and multinational companies. In addition to strategic and operational responsibilities, he has experience in acquisitions, IT and systems development, reorganizations and business turnaround. As a Chartered Management Accountant, with a degree in business studies, he can apply his experience and analytical skills to a wide range of business situations and sectors.


Experience

Ian qualified as a Chartered Management Accountant in the United Kingdom and progressed through a variety of roles in SMEs and multinational companies across a diverse range of industries. He has 20 years’ experience as a Finance Director and CFO.
He is flexible and a resilient self-starter, working well either alone or as an effective team player. Ian is a goal-driven individual, action and solution orientated, with a can-do attitude and a fine eye for detail.

Over the course of his career, he has:

  • Cash-flow – As part of an interim finance director role, developed short and medium term cash-flow projections to give the shareholders confidence in making a further cash injection whilst regaining the trust of its supplier base.
  • Business Planning – Collaborative development of long-term financial plans to challenge and support the strategic re-alignment of a business.  Prepared business cases to support acquisitions.
  • Business Turnaround – Identified loss making activities and cost reduction opportunities to bring struggling businesses back to profit.
  • Finance transformation – Restructured a multi-site finance function to align with business partner needs in a complex matrix organization.  Developed finance functions to meet the needs of a growing business including mentoring of key staff.
  • Acquisitions – Negotiated and integrated acquisitions of European based businesses.
  • Business Process Improvement – Identified and implemented changes to business processes across a range of functions to facilitate improved customer service and greater efficiency.
  • Due-Diligence – Supported acquisition of small and medium sized international companies.
  • System Selection and Implementation – Led several ERP and accounting software implementations plus developed budgeting and planning tools for small and large organisations.
  • Financial Reporting – Improved management reporting to give business owners and managers more timely and better visibility of business performance.
  • Corporate Governance – Implemented SOX compliant processes in a UK division of a multinational business and improved basic accounting procedures in an SME.
  • International – Spent 10 years as CFO for a European division of a North American multinational.  Wide knowledge of tax systems and especially transfer pricing.

Case Study

Case StudyBackground:

The company had undergone a difficult period where a transformation of the business had not delivered the expected sales growth.  This resulted in it carrying significant overheads and therefore making a loss and putting severe strain on cashflow.

The board had begun the process of changing the management team and two non-exec directors had stepped in to run the business on a day to day basis.  These issues were also placing the incumbent finance manager under increased pressure that he was not able to cope with, resulting in him leaving the company.

Challenges:

The business faced a number of challenges.  Firstly, cashflow management and forecasting was an issue.  Suppliers were being paid late resulting in disruption of deliveries and the company was placed on a proforma basis by a number of its suppliers.

Payments to HMRC and the company pension scheme were also behind by several months.  The shareholders had made a number of loans to the business in the previous 15 months.  However, they were unwilling to commit further funds in the absence of short to medium term visibility of the company’s cash position and needs.

Basic financial processes and controls were either not in place or not being followed.  This meant there was a limited audit trail on some transactions and journal postings.  Many month end reconciliations were not being performed and there was an apparent lack of understanding on how the accounting software should be used.  Certain accounting processes were overdue resulting in inaccurate reporting of business performance.

The other member of the finance team, the finance assistant, was also now being placed under extreme stress trying to cover for the absent finance manager, handle numerous supplier phone calls and perform her own duties.

Finally, there were issues with the company’s US subsidiary on tax matters that were beginning to impact trading in the US; and the day to day reporting of the main business was complicated by a recently started JV to develop a new product.

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