Bob Powers

Experience

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  PricewaterhouseCoopers

  Sept 1993 - May 2005

  Senior Manager
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  Plug Power

  Jan 2005 - Jan 2008

  Corporate Controller/Acting CFO

  PLUG is a fuel cell technology R&D company with approximately 400 employees.Responsible for financial planning and reporting, financial system implementation, business analysis and M&A activities. Project manager for company wide Sarbanes Oxley compliance program. Developed short and long term revenue and expense forecasts. Oversaw the preparation and review process for all SEC filings, including Form S-3, 10-K, 10-Q and 8-K, dealing directly with the SEC. Prepared financial statements and related footnotes in accordance with US GAAP. Drafted MD&A, and evaluated complex financial transactions, ensuring compliance with applicable accounting principles including FIN 46, SFAS 158, SFAS 142, SAB 104. Prepared defined contribution benefit plan financial statements in compliance with ERISA regulations.♦Supervised and developed a staff of 9 professionals and used financial data to serve as an advisor to senior management. ♦Led $71 million secondary offering in August 2005 and $250 million private placement in June 2006.♦Instituted a monthly budget performance review system with division leaders, increasing focus on financial performance. ♦Implemented project accounting system to support the companies R&D service business. Automated multiple activities and integrated others with this new system in order to streamline processes, reduce errors and provide better historical data.♦Implemented a capital purchasing policy, including the demonstration of investment objectives and expected returns.♦Risk management decision maker for all insurance and hedging (interest rate and commodity) activities. Saved the company $150,000 in insurance premiums. ♦Created cross-functional compliance teams at all group locations to ensure ongoing compliance with Sarbanes-Oxley. Show less

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  SABIC

  Jan 2008 - May 2010

  Asst. Global Controller
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  GTE

  Jan 2010 - Jan 2013

  Corporate Controller

  GTE is a $40 million, venture capital owned, multinational company which designs, manufactures and supplies proprietary clean-tech energy saving and performance-enhancing solutions to the power generation, oil & gas and aviation industries.Responsible for global controllership and finance activities (Sweden, UK, Italy, Russia, Abu Dhabi, USA) working closely with the CEO, CFO, and Regional VP’s to define and implement the financial strategy. Served as principal financial liaison with legal counsel, including review of all contracts and agreements. Managed relationship with Company’s external auditors to facilitate the efficient audit of the annual financial statements and review of the interim financial statements. Maintained the general ledger and all necessary subsidiary ledgers to ensure the financial accounts were accurate and in compliance with IFRS standards and AIM listing requirements.♦Implemented worldwide Accounting Policies and Procedures Manual in accordance with IFRS standards, London AIM listing, and Sarbanes-Oxley best practices.♦Implemented systems ensuring proper functioning for financial reporting compliance and internal accounting controls.♦Successfully managed the Research and Development budget and forecast preparation, ROI analysis and tracking of costs for each project and /or program. Show less

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  Sterling Talent Solutions

  Jan 2013 - Jun 2018

  VP Finance

  Sterling Talent Solutions is a $500 million technology enabled multinational, provider of pre and post employment verification services, including criminal checks, prior employment, education and professional licensing verifications, motor vehicle checks, and drug testing. Sterling is majority owned by Goldman Sachs private equity.Accountable for all controllership, tax, treasury, shared services, and M&A activities. Reporting to Board, executive team, audit committee, debt holders (including compliance certificate), and private equity investors. Show less

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  Finance Consultant

  Jun 2018 - Mar 2020

  CFO Advisor

  ➔ Advise companies as a CFO through their entire capital raising and M&A processes: create investor presentations and financial models, lead due diligence efforts, negotiate terms➔ Lead all the financial activities of the company and manage the appropriate teams: financial planning and analysis, define KPIs, and prepare forecasts, budgets, and operating plans.➔ Develop financial reporting cadence and make presentations to internal decision makers—board of directors, C-Suite, and senior management.➔ Formulate and execute on corporate development initiatives.➔ Manage external relationships with strategic partners, investors, and investment banks.➔ Overall management of finance function and cash management and forecasting Show less

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  Constellation Advisers, LLC

  Mar 2020 - Dec 2021

  Chief Financial Officer
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  Ocean Power Technologies

  Dec 2021 - now

  SVP and Chief Financial Officer