Daniel Riley
Minneapolis
Summary
Strategic finance and operations executive with a proven track record in enhancing efficiency and driving value through talent, data, and technology. Expertise in leading transformative initiatives across diverse sectors including retail, financial services, and manufacturing. Recognized for developing innovative solutions that set industry benchmarks and for fostering a culture of accountability and excellence. Skilled in aligning cross-functional teams to achieve ambitious goals and deliver best-in-class results.
Overview
32
32
years of professional experience
Work History
SVP, Global Real Estate, Enterprise Sourcing & Procurement, and Risk Mgmt
Ameriprise Financial
Minneapolis
01.2015 - 01.2016
- Led a team of 70 professionals.
- Managed a real estate portfolio of over 150 properties worldwide with an annual budget of $150M. Yearly spend of $1B with over 2,500 vendors. Newly created position reporting to CFO.
- Managed highly successful transition of a long-standing real estate partner to a new partner responsible for assisting with real estate transactions, property, and project management; highly complex transition managed over a very tight timeframe.
- Completed reorganization of the procurement function, dividing responsibility for strategic transactions from routine ones. Allowed organization to focus resources on most important deals.
- Developed a new strategy for vendor risk management more responsive to a rapidly changing environment; refocused organization on most critical vendors to ensure the stability of ongoing operations.
- Analyzed all strategic options for the company's headquarters building as the end of its lease approached; determined that negotiating lease renewal was the most advantageous option.
VP, Property Dev. Ops/Facilities Mgmt/Strategic Sourcing/Resource Recovery
Target Corporation
Minneapolis
01.2011 - 01.2015
- Previous position was expanded to include strategic sourcing responsibility for $8B in annual purchases of indirect goods and services.
- Directly led a staff of seven with a total team of 500. Created an open culture that promoted innovation and risk-taking based on strategic thinking, solid data, and sound analytics.
- Led ground-breaking strategic sourcing initiative and created a centralized sourcing team for indirect goods and services. Generated annual savings of $200M with cumulative savings of $600M. Introduced new processes and technology and built a team that revolutionized indirect sourcing and positively impacted merchandising procurement.
- Through rigorous analysis, identified opportunities to turn around inadequate vendor management practices. Advocated for and secured commitment to centralize all indirect procurement enterprise-wide with projected savings by year five of $800M annually.
- Spearheaded the selection and implementation of new sourcing and procurement technology tools that achieved maximum expense reduction and provided significant quality improvement.
- Generated $140M in annual net revenue by initiating innovative processes to sell salvage merchandise, recyclables, and all other end-of-life corporate assets. Grew revenue by 10% per year.
VP, Property Development Operations
Target Corporation
Bloomington
01.2008 - 01.2011
- Position expanded with additional responsibility for Stores Facilities Management and Resource Recovery. Led seven direct reports with a team totaling 340. Managed annual expense budget of $1.2B and capital budget of $250M.
- Executed turnaround of the Building Services function - critical to delivering on Target's brand promise - experiencing service issues and unsustainable expense growth.
- Reduced the annual cost of maintaining 220M square feet of retail space by setting clear standards, rationalizing vendors, and strategic sourcing; realized cumulative savings of $600M while significantly improving the guest perception of store maintenance and cleanliness.
- Spearheaded review of $120M paid to landlords to perform maintenance; aggressively pursued opportunities to bring maintenance in-house resulting in improved guest perception and $80M in cumulative savings.
- Introduced mobile devices for 1,800 field staffers located in stores utilizing off-the-shelf hardware and software; implemented in three months and significantly improved customer experience.
- Spearheaded successful effort to achieve Energy Star certification for 70% of stores - a first in the retail industry - ensured all new stores would achieve certification.
- Led efforts to improve the sustainability of operations, achieved significant reductions in carbon emissions, water usage, and waste to landfill - while exceeding Target's 13% hurdle rate.
VP, Property Development Finance and Operations
Target Corporation
Minneapolis
01.2006 - 01.2008
- Created a new department to meet demands of 8% per year growth in the real estate portfolio. Led team providing finance, systems, procurement, tax incentives, and environmental services.
- Served as CFO of the Property Development Organization responsible for budgeting, planning, analyzing, and ongoing management of $1.1B of annual expense and $5B of annual capital expenditure.
- Designed and implemented a three-year plan to modernize legacy systems for managing assets, vendors, and the capital program; resulting technology enabled $100M in annual savings.
- Built Business Intelligence and Analytics team that provided data and information enabling more timely and accurate decision-making; team unlocked significant expense savings and enhanced reputation in facilities, resource recovery, and sustainability.
Vice President, Financial Planning and Analysis
Target Corporation
Minneapolis
01.2000 - 01.2006
- Provided FP&A services to Merchandising, Marketing, Stores, Distribution, and Headquarters. Analyzed capital expenditures representing $5B in annual spending. Reported to CFO of Target Corporation.
- Managed approvals for all significant expenditures; ensured projects were analyzed correctly and met appropriate hurdle rates; managed the store financial prototype.
- Drove highly successful effort to push financial responsibility further down into the organization; empowered first-line management to manage their businesses more effectively and prepared them for added responsibility in the future.
- Created an easily accessible online tool to disseminate key performance measures to all leadership levels; delivered more streamlined information on financial and operational goals.
- Led the effort to recruit new Finance MBAs; annually recruited 40+ new hires.
VP, Internal Audit/Process Improvement/Shortage Reduction
Target Corporation
Minneapolis
01.1997 - 01.2000
- Directly led a team of six and a department of 125. Reported to Audit Committee of the Board.
- Significantly reduced "shrink" in the stores through tightened processes, improved IT systems, and more targeted information on where the theft occurred. Reduced shrink from 1.5% to 1.1% of sales, a savings of $75M per year.
- Introduced Enterprise Risk Assessment Process to identify critical risks across the corporation and prioritize the highest risks.
Director, Information Technology Finance and Planning & Analysis
Target Corporation
Minneapolis
01.1995 - 01.1997
- Reported jointly to CFO and CIO. Responsible for Project Approval Process, Finance, Planning, Training, and Procurement. Managed a $2B project budget and an annual operating budget of $700M.
- Served as planner and manager of highly successful $2B effort to install common IT systems across all operating divisions of the corporation - Target, Mervyn's, and Marshall Field's.
- Created and implemented a new discipline for allocating IT development and capital resources, resulting in improved decision-making and higher return on investment.
Senior Manager, Strategic Planning
Target Corporation
Minneapolis
01.1993 - 01.1995
- Reported to the VP, Corporate Strategic Planning. Part of a team seeking new business opportunities.
- Performed strategic analysis of Mervyn's Department Stores to return it to its previous levels of profitability.
- Analyzed marketing expenses to determine the best allocation of resources across types of media.
Director, Information Systems Planning & Analysis
Carlson Companies, Inc.
Minneapolis
01.1991 - 01.1993
Manager, Capital Expenditure Analysis
Carlson Companies, Inc.
Minneapolis
01.1989 - 01.1991
Finance Manager, Large Front-Wheel-Drive Car Program
General Motors Corporation
Detroit
01.1988 - 01.1989
Financial Analyst
General Motors Corporation
Detroit
01.1984 - 01.1989
Education
Master of Business Administration (M.B.A.) -
Harvard Business School
Boston, Massachusetts06.1988
Bachelor of Science (B.S.) - History
Saint John's University
Collegeville, Minnesota06.1984
Volunteer Experience
- Governor's Commission on Highway Finance, State of Minnesota, 2011, 2012
- Catholic Charities of St. Paul & Minneapolis, Exec. Comm. Member, Planning & Program Development Comm. Chair, 2010, 2016
- Hill Museum & Manuscript Library, Executive Committee Member, Finance Committee Chair, 2009, Present
- Saint John's University, Trustee, Audit Committee Chair, 2002, 2011
- Theatre de la Jeune Lune, Executive Committee Member, Finance Committee Chair, 1997, 2006
Timeline
SVP, Global Real Estate, Enterprise Sourcing & Procurement, and Risk Mgmt
Ameriprise Financial
01.2015 - 01.2016
VP, Property Dev. Ops/Facilities Mgmt/Strategic Sourcing/Resource Recovery
Target Corporation
01.2011 - 01.2015
VP, Property Development Operations
Target Corporation
01.2008 - 01.2011
VP, Property Development Finance and Operations
Target Corporation
01.2006 - 01.2008
Vice President, Financial Planning and Analysis
Target Corporation
01.2000 - 01.2006
VP, Internal Audit/Process Improvement/Shortage Reduction
Target Corporation
01.1997 - 01.2000
Director, Information Technology Finance and Planning & Analysis
Target Corporation
01.1995 - 01.1997
Senior Manager, Strategic Planning
Target Corporation
01.1993 - 01.1995
Director, Information Systems Planning & Analysis
Carlson Companies, Inc.
01.1991 - 01.1993
Manager, Capital Expenditure Analysis
Carlson Companies, Inc.
01.1989 - 01.1991
Finance Manager, Large Front-Wheel-Drive Car Program
General Motors Corporation
01.1988 - 01.1989
Financial Analyst
General Motors Corporation
01.1984 - 01.1989
Master of Business Administration (M.B.A.) -
Harvard Business School
Bachelor of Science (B.S.) - History
Saint John's University
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