Bill Velasco Finance Executive



FLOWSERVE CORP. , Dallas, TX 2006
Fortune 500 company that develops and manufactures precision-engineered equipment.

Division Controller – Engineered Products Division 2010-Present
Division Controller – Pump Division 2008-2009
A global $2.5bn division that manufacture Engineered pumps and seals, with 27 manufacturing facilities and 115 service centers.

Responsible for the accounting, reporting, control and compliance. Review and account long term construction-type contracts in foreign currencies. Research and prepare position papers on complex and unusual transactions.
· Combined the former Pump and Seal divisions and re-segmented the business in two externally reported divisions. Re-created 10Qs, 10K and MD&As.
· Implemented procedures to control key areas: Major Contract Review and Revenue Recognition, Liquidated Damages, percentage-of-completion and foreign exchange impact on non-functional currency transactions.
· Enhanced and improved the divisional analytics, close check list and controls to improve the control environment that contributed to the reduction in audit procedures at the sites, thus audit fees
· Eliminated past due internal audit recommendations
· Managed the integration of 2 acquisitions, including purchase price allocation, accounting and reporting
· Received 2 Spirit of Flowserve awards for collaboration in: the re-segmentation and the close of 2009 results

Director of Global Consolidations 2006-2008

Manage the corporate close calendar. Gather, analyze and consolidate financial information of 160 reporting entities generating multidimensional consolidated view of financial data and supply information to divisions and corporate departments including external reporting, tax, treasury and FP&A. Support 420+ worldwide systems users, collecting data from 40 General Ledgers
· Implemented a new consolidation application (Hyperion) that stabilized the close process
· Re-engineered the reporting process eliminating redundancy that shifted focus to analytics
· Received a Spirit of Flowserve award for collaboration in the implementation of the consolidation application

AT&T – WIRELESS MARITIME SERVICES LLC, Fort Lauderdale, Florida 2006
A JV to provide cellular coverage onboard cruise ship while at sea in international waters using own mobile service (

Director of Finance
Implemented standard AT&T policies and procedures for procurement and controls on fixed assets. Provided financial support, contract review and pricing during negotiation with cruise lines. Established budgeting procedures.
· Implemented Oracle Supply Chain and developed procedures for control of serialized equipment.
· Operationalized the Capital Budget at ship and item level to monitor execution and expenditure;
· Automated KPIs for distribution to cruise lines;
· Coordinated the generation of first set of audited financial statements since JV inception to December 2005.

LEXMARK INT’L INC. - LATIN AMERICA, Miami, Florida 2000 - 2005
Fortune 400 that develops and manufactures printing and imaging solutions for offices and homes, through channels, including retail (60%).

Director of Finance - Latin America Region
Directed all accounting and financial activities for Latin America (Revenue $500MM, 9 countries, 8 direct reports, 80 finance headcount).
· Contributed to revenue growth re-establishing exports to Venezuela distributors, ceased due to the crisis. Negotiated payment terms and established strict operational procedures. Increased revenue from $4M to $12M.
· Established standard procedures for C&C decreasing delinquency by 66%, to 8.5%, and DSO to 56 days.
· Localized company ERP (JDE) and eliminated legacy ledgers; enhanced reporting through Crystal and Data Warehouse. Eliminated accounting processing fees of $400K/year;
· Reduced total Close Cycle (including outlook) by 2 days, to 5.
· Implemented and migrated to two consolidation systems (Hyperion and Khalix) and reduced resources;
· Created regional accounting policies for company-critical processes and automated their execution.
· Executed SOX compliance project on time and under budget without recommendations;
· Outsourced tax compliance that allowed recovery of $2M of VAT credits and respond fiscal audits;
· Outsourced IT support and shifted internal resources to IT project implementation projects.

BENCKISER LATIN AMERICA, Miami, Florida / Mexico City 1998 – 2000
FTSE 100 manufacturer of household cleaning products

Financial Controller - Latin America
· Created the infrastructure to initiate activities in Latin America.
· Started a co-packing operation in Mexico that generated $2M revenue during the first year.

Fortune 500 provider of technology and services for businesses (data warehouse, ATMs, terminals and scanners).
Caribbean and Latin America Area, Ft. Lauderdale, Florida 1993 - 1998

Regional Finance Manager - Customer Services (1998)
Regional Treasurer (1996 - 1997)
Regional Pricing Manager, Bogota, COLOMBIA - Miami, Florida (1994 - 1996)
Regional Planning and Reporting Manager, Bogota, COLOMBIA (1993 - 1994)

NCR do Brazil, São Paulo, BRAZIL 1991 - 1993
Finance Manager

NCR Latin America South Area, Buenos Aires, ARGENTINA 1988 - 1990
Financial Analyst

1987 – 1988
Accounting Analyst

BS in Accounting, Buenos Aires National University, Argentina, 1987
CPA, Argentina, 1987
Passed Uniform CPA examination - Georgia (1997)

Worldwide Management Development Program, Roffey Park Management Centre (2004)

Numerous Lexmark and NCR sponsored courses including Export Financing and US Export Regulations


Spanish: Native; English: Fluent ; Portuguese: Fluent


- Lead the implementation of reporting systems and packages (i.e. Hyperion, Khalix)
- Participated in the implementation of ERPs (Oracle Financials in Brasil and JDE across Latin America)
- Work flow tools developed in a number of platforms (e.g. Lotus Notes, Access)


US Green Card Holder

Contact Information

Bill Velasco

Southlake, TX 76092


Phone: (817)713-0018
Fax: (772)673-6329


Where's Southlake, TX

Southlake is a suburb of the Dallas/Fort Worth metroplex, located a few miles NE of the DFW Int'l Airport.

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