Patricia Ang
Accountant
Richmond Hill,ON
Summary
Skilled accountant bringing 20+ years of experience in the automotive retail industry. Effective manager and trainer of accounting team. Accomplished in working with owners to develop financial and operational strategies. Excellent communication and IT skills, with HR experience.
Overview
20
20
years of professional experience
Work History
VP Finance
Somerville Auto Group
11.2020 - 4 2024
- Upgraded Accounting Department with competent and experienced accountants. Prior to my hiring, 2019 audited financial statements (FS) were completed 9 months after year end. During my tenure, 2022 and 2023 audited FS were completed and submitted to financial lenders by April, well within 4-month deadline.
- Cultivated a high-performance culture within the organization by setting clear expectations for employees at all levels, providing regular feedback, and recognizing achievement. Semi-annual anonymous surveys showed high job satisfaction levels with Accounting staff.
- Completed monthly FS for 5 companies within 10 days, followed by meetings with executives and middle management to explain financial results.
- Negotiated capped annual audit fees, and uploaded complete audit files for 5 companies to external auditors' portal.
- Collaborated with various department heads on strategic planning initiatives to ensure alignment between corporate goals.
- Worked jointly with executive team on financing and securitization strategies. Maintained strong relationships with lending financial partners.
- Together with controllers, provided monthly reports to management, including aging of receivables and inventory, rental vehicle usage in $ and in days, financing and securitization statistics, labour productivity %.
- Provided formal periodic updates to the Advisory Board, including P&L update and analysis of the various loan positions.
- Supervise Payroll department to ensure that employees are paid correctly and on time.
- Provide assistance to Somerville family members as needed.
Controller
Grand Touring Automobiles
4 2018 - 10.2020
- Supervised accurate and timely completion of monthly financial statements with >$300MM in revenues.
- Advised managers on tracking actual expenses against budget.
- Assisted in upper-management decision-making by creating financial reports on inventory aging, GP breakdown by sales category and by salesperson.
- Prepared completed audit file for external auditors, with detailed schedules and expense analysis.
- Ensured compliance with all regulatory filings and payments.
- Calculated monthly bonuses for all incentive-based managers and support staff.
- Worked closely with AR to minimize delinquent accounts.
- Monitor purchases and expenses through review of cheque requisitions and EFT payments.
Chief Financial Officer
Downtown Automotive Group
07.2000 - 06.2017
- Member of executive team implementing strategic direction of organization.
- Played active role in downsizing from 3 dealerships to 1 (from 2000 to 2002) and in subsequent expansion from 1 to 10 dealerships in downtown Toronto (from 2005 to 2015).
- Conducted due diligence review on potential dealership acquisitions and prepared pro-forma statements for lenders.
- Participated in starting up 6 new dealerships, which included submitting franchise applications to auto manufacturers, dealing with lending institutions, obtaining business permits, and setting up bank and government accounts.
- Monitored expenditures against budget on new dealership construction.
- Implemented KPI (key performance indicators) to monitor operational performance across management and staff levels.
- Oversaw expansion of Accounting Department from staff of 2 to a team of 6 controllers and 16 support staff, physically located across dealerships.
- Focused on controlling expenses, resulting in $100,000 reduction in annual employee health benefits, $47,000 reduction in garage insurance premiums, and $40,000 in credit card fees.
- Worked closely with controllers to ensure accurate and timely completion of financial reports and monthly reconciliations of balance sheet accounts, so annual audit files can be completed soon after year end.
- In absence of HR department, performed HR duties together with payroll department, including managing of employee benefits program.
- Was IT network administrator and IT equipment purchaser.
- Maintained accounting records for owner's other business interests.
Director of Finance & Info Systems
Ontario & Toronto Auto Dealer Associations
07.1997 - 06.2000
Education
Bachelor of Commerce -
University Of Toronto
TorontoCA Finalist -
Price Waterhouse Coopers
Skills
Proficient in CDK and Reynolds software
Knowledgeable about IT networks
Effective communicator, orally and on paper
Strong analytical skills
Timeline
VP Finance
Somerville Auto Group
11.2020 - 4 2024
Chief Financial Officer
Downtown Automotive Group
07.2000 - 06.2017
Director of Finance & Info Systems
Ontario & Toronto Auto Dealer Associations
07.1997 - 06.2000
Controller
Grand Touring Automobiles
4 2018 - 10.2020
Bachelor of Commerce -
University Of Toronto
CA Finalist -
Price Waterhouse Coopers
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