David S.

Powell
14035 Clarendon Pointe Ct. (O) 704-947-2009;
(C) 704-999-6302
Huntersville, NC 28078
dp655ff6@westpost.net
Executive Profile:
Senior finance executive that is results driven, decisive and a self-starting le
ader with extensive experience in finance and global operations. A strategic thi
nker with a strong financial services foundation. Reputation for undertaking com
plex, challenging responsibilities with results that drive bottom line improveme
nt. Proven track record for consistently achieving results, leading teams throu
gh challenges and producing sound, innovative solutions.

Core Competencies:

* Strategic Planning
* Budgeting and Forecasting
* GAAP/Regulatory Reporting

* Internal Controls/Sarbanes Oxley

* Management and Board Reporting

* Mergers and Acquisitions

* Process Re-engineering
* Business Process Outsourcing/Off-shoring
* Complex Financial Analysis & Modeling
* Expense Management and Control

Experience:
Aditya Birla Minacs, Toronto, Canada (2009 - 2010)
A business solutions company, specializing in off shoring and outsourcing, with
revenues of $400 million, 13,000 employees across 3 continents and 27 centers.
KPO/BPO Solutions Executive
Responsible for new business, training and guiding business development staff, p
roviding SME support for client visits and presentations, oversight for transiti
ons, process improvements, monitoring and sharing industry best practices, and d
esigning new product solutions for KPO/BPO applications.
* Expanded and stabilized commercial credit underwriting and risk management ope
ration in Bangalore, India and developed pitch book, equity and foreign exchange
research function to support expanding investment banking/venture capital busin
ess for a $12billion west coast banking client.
* Developed a multi level partnership with software platform provider to integra
te back and middle office solutions for Wealth and Asset Management firms; inclu
ding multi tiered sales framework, pricing, human capital requirements, marketin
g plan and target market. Projected revenues of $100 million over 5 years.
WACHOVIA CORPORATION (a division of Wells Fargo) Charlotte, NC (1991 - 2008)
Wachovia, is a diversified, wholly owned financial services subsidiary of Wells
Fargo and the fourth largest bank holding company in the US, based on total asse
ts.
SVP Director of Outsourcing/Off Shoring, Wealth Management (2006 - 2008)
Initiated the first ever program for evaluating, transitioning and managing busi
ness operations in partnership with several offshore providers. Focus was on qua
lity and economic improvement. Led a virtual on-shore Program Office of 15 FTE
and offshore operations of over 70 FTE.
* Designed and implemented off shoring and outsourcing programs, governance stru
cture, transition methodologies and cultural training, including all change mana
gement activities to educate leaders on the merits of tapping global talents.
* Built offshore operations (2006 -2008) for areas including; finance functions
for insurance business, client performance measurement and reporting for Investm
ent Services and Trust operations achieving 35% labor savings , in Gurgaon and D
elhi, India (70+ FTE) .
* Boosted savings with additional 6% cost efficiencies within 2 years of operati
on while maintaining 98%+ accuracy and quality measures, utilizing six sigma and
lean methodologies.
SVP/Controller, Wealth Management Services (2004 - 2006)
Charged with responsibility for all financial operations, accounting, budgeting,
forecasting, closing, external reporting, internal reporting, financial governa
nce and acquisitions.
* Expedited the monthly GL closing process by standardizing accounting procedure
s, visibility into variance analysis and reporting tools.
David S. Powell
* Enhanced the quarterly earnings release through insightful earnings analysis,
strategy and project progress updates, clearer financial disclosure and market i
mpacts for division President and CEO.
* Reduced costs of $12 million+ via business-wide standardized documentation, un
derstanding and focused review of "allocated support function expenses".
* Eliminated $20 million in personnel cost thru human capital study, improving s
ales/support ratios.
* Developed M&A team process for division; including Palmer & Cay ($200mm in rev
.), Tanager Financial and Insurance joint ventures, portfolio sales, purchases a
nd divestitures, closing 25+ transactions
SVP Director of External Reporting, Corporate Finance (2001 - 2004)
Responsibility for accurate and timely filing of SEC, OCC, Fed and other regulat
ory reports for Wachovia and Subsidiaries (to include 10Q, 10K, 8K, Call Reports
etc).
* Streamlined external and regulatory report preparation. Implemented single con
solidated reporting database system (ESSBASE and Hyperion platforms). Enhanced 1
0Q and 10K disclosures by transforming "accounting documents" to financial docum
ents winning top honors for Annual Report.
* Implemented new financial and accounting disclosures in Corporate Earnings Rel
eases, 10Q and 10K as required by Regulation G under Sarbanes Oxley .
* Developed a stock option valuation model, assumptions and disclosure for the i
mplementation of FASB 123 (significant accounting change for stock options).
SVP Director of Corporate Planning & Earnings Analysis, Corporate Finance (1991
- 2001)
Led Corporate- wide business and corporate forecast, annual budget and goal sett
ing, earnings analysis for CEO, business performance and reporting, expense mon
itoring, capital expenditure reporting, M&A due diligence, M&A financial reporti
ng.
* Developed and implemented groundbreaking multi-dimensional corporate wide budg
eting/forecasting tools using ESSBASE and EXCEL that is still in use. Shortened
the budget/target setting cycle from 6 months to 3 months by moving the corporat
ion to a "rolling forecast" concept eliminating the time consuming "zero based b
udgeting process" across the corporation.
* Led the due diligence process for the $14 billion acquisition of the legacy Wa
chovia Bank.
* Directed the financial modeling, analysis and strategy development for a restr
ucturing of First Union Corp. (2000). Strategy resulted in the divestiture of th
e Sub-Prime Lending business (Money Store), Mortgage Servicing platform and Cred
it Card business, reducing future losses of over $2 billion, and placing First U
nion on a path to recovery.
* Integrated over 50 mergers and acquisitions into the financial planning and re
porting platforms.
* Integrated sophisticated RAROC and SVA concepts into all financial planning pr
ocesses, analyses and reporting.

Education/Certifications:
Old Dominion University, Norfolk, VA, B.S. Administration - Finance
* Graduate of Peter Block's "The School for Managing." Selected based on intervi
ew with Executive Leadership and final selection based on a projection of future
leadership potential.
* Graduate of Applied Mergers & Acquisitions concepts developed by Robert F. Bru
ner Executive Director of Darden Graduate School, UVA
Computer Skills: ESSBASE, EXCEL, Power Point, Word, Oracle/Hyperion, MSA/SAS