About Russell

Direct - 713-898-8345

russelltuncap@gmail.com

Over 20 years of extensive experience in small to mid-size enterprises, combined with a keen awareness of accounting and finance as a critical contributor to business growth and profitability. Creative problem-solver with impeccable integrity, strong work ethic, and deep dedication. Knowledge and skill areas:

§ Financial Reporting & Analysis

§ Cash Flow Optimization

§ Financial & Accounting Best Practices

§ Internal Controls Implementation

§ Fiscal Integrity/Revenue Recognition

§ Team Building & Leadership

§ Budget Creation & Implementation

§ Process Improvements

Professional Experience

Accounting Professional

Robert Half Management Resources – Houston, TX – 2021-Present

Working as a contractor to apply deep knowledge, diverse background, and unique skill sets to complex projects.

§ Magna Imperio Systems – Interim Director of Accounting. A late-stage startup entity in the clean water recovery industry, that needed to streamline accounting procedures, establish internal controls, and have accurate financial reporting to drive profitability and continued growth.

§ Blackline Cold Storage, LLC. – Accounting Specialist. A group of five related startup entities needed their QuickBooks general ledger set up, internal control procedures, create asset classes and journal entries for acquisitions, intercompany transactions across multiple entities, financial report consolidations for external reporting, as well as full cycle accounting during the initial phase of business.

§ Lummis Consulting Service. – Analyst. A boutique CPA firm specializing in M&A due diligence and litigation support required data analysis of general ledger data and supporting documentation to provide acquisition verification of Quality of Earnings, including proof of cash, net working capital, adjusted EBITA, seller’s proposed adjustments, proof of cash, and revenue analysis.

Controller

Citadel Casing Solutions, LLC – Houston, TX – 2017-2020

Brought on board to establish accounting policies and procedures for a private equity backed start-up manufacturer (Aspen Energy Partners). Held full responsibility for the full-cycle accounting process within a 2-person department, including daily cash management, monthly close, and internal/external reporting functions. Presented monthly financial analysis to both upper management and private equity partners.

§ Reduced the monthly close process from 2 weeks to 5 days (representing a significant decrease) through developing and implementing continuous improvement strategies.

§ Played instrumental role in establishing a $3M working capital loan with the bank, serving as the primary contact for the bank relationship regarding the line of credit.

§ Reduced the organization’s SG&A by 10% through serving as a co-leader in developing annual operating / capex budgets and maintaining strict fiscal management.

Corporate Controller

Oswald Group of Companies – Houston, TX – 2014-2017

Acted as the Controller for 7 separate privately held entities of the Oswald Group: Global Steel & Flamecutting; Hydraulic Fabrication Services; Enable Tech Manufacturing; Global Energy Inspections; KO Developing; Jackrabbit Steel Products; and Jackup Structural Alliance. Tasked with streamlining accounting processes and procedures across a complex set of entities through process improvement initiatives.

§ Ensured 100%-compliant financial reports for external reporting requirements by converting the accounting process from cash accounting to US GAAP.

§ Streamlined consolidations and the accounting process for a team of 5 through developing a common General Ledger Chart of Accounts and accounting procedures across all 7 companies.

§ Eliminated suspense accounts and intercompany open A/R balances by developing and managing procedures for intercompany billings and reconciled balances.

Controller

Command Drilling Products USA, Inc. – New Caney, TX – 2012-2014

Hired to set up operational procedures compliant with US GAAP and Canadian IFRS for a start-up manufacturing company (subsidiary of a Canadian oilfield services company).

§ Established the company’s Accounting department, including internal control procedures, payroll functions, and job costing techniques, as well as overseeing the entire Human Resources function.

§ Worked jointly with production management to generate accurate production metrics reporting; collaborated with the Canadian HQ on ensuring successful foreign exchange transactions.

Controller

Rig-Up Services, Inc. – Channelview, TX – 2011-2012

Brought on board to institute sound A/R, A/P, and Payroll policies and accurate accounting procedures for an oilfield manufacturing and electrical service contracting company. Created techniques to capture and report profitability on each job and project invoiced by the company. Established consistent procedures within accounting roles and functions via SOPs. Established improved internal controls by segregating duties among the 4 team members within the Accounting department.

§ Improved the company’s ability to achieve its desired profit margins. Implemented job costing techniques to capture direct labor, shared labor, and overhead costs, as well as allocated General and Administrative overhead costs (based on direct labor hours) to determine proper hourly rates.

§ Received Letter of Commendation and salary raise; specific comments included: “Since joining Rig-Up Services, we have all been pleased with your performance…your knowledge of business and accounting has been invaluable…your ‘quiet strength’ has been a welcome and much-needed addition to our corporate culture.”

Sole Proprietor

Tuncap Accounting (Texas-registered CPA firm) – Houston, TX – 2000-2011

Provided a variety of services that included accounting system implementations, business operations consulting, write-up and product costing for small businesses, and project/contractor work for multinational corporations and federal entities.

§ Accounting Specialist, Federal Deposit Insurance Corporation (FDIC), 5/08 to 5/10 – Contracted as both a team leader and team member of Receivership teams to close failed banks. Additionally, worked as an Interim Loan Servicer at ANB Financial, Bentonville, AR on an 8-month reconciliation assignment.

§ Accounting Specialist, Stewart Title International, 8/05 to 12/05 – Researched application of GAAP standards on the Impairment of Fixed Assets, as well as supporting year-end budget preparation.

§ Project Accountant, GDF Suez (formerly Tractebel), 2/04 to 8/05 – Served as a Project Accountant for Trigen Energy utility plants in MO and MD during the spinoff to new ownership. Performed monthly closings, P&L reporting, variance analysis, account reconciliations, state/local tax reporting, budget development, and ad hoc reporting.

§ Project Accountant, Baker Hughes, Inc., 5/01 to 3/03 – Assisted in cleaning up and closing out the General Ledger of a discontinued division (Western Geophysical).

Education & Credentials

Master of Science (MS) in Accountancy- University of Houston, Houston, TX

Bachelor of Business Administration (BBA) in Accounting, Magna Cum Laude- Texas State University, San Marcos, TX

Certifications- Certified Management Accountant (CMA); Certified Public Accountant (CPA), State of Texas

Professional Affiliations- Institute of Management Accountants – Texas Council: past President, Secretary. Institute of Management Accountants – Houston Chapter: past President, Treasurer, Webmaster, VP of Education, Director of Speakers

Presentations- Presented several CPE courses for Lorman Education Services: “IRS Form 1099 Reporting: What You Need to Know,” 2010; “The New Texas Margin Tax,” 2008; “Fundamentals of Fixed Asset Accounting,” 2007