Eric B. Covington, BSM, MSML
Personal Profile
Business leader with the proven ability to build and lead strategic initiatives and reliably outperform objectives in complex, global fast paced environments. Delivers growth and turnaround results by combining market and customer insights with Six-Sigma, Strategy and Performance Optimization, and Transformational Leadership style. Has led global operations, strategic alliance effectiveness, technology, and service delivery teams of up to 3,500+ employees. Extensive experience optimizing resources and maximizing returns across the enterprise. Strong strategy, people, process, and metric focus. Nineteen (19) years' experience establishing global resource strategies and proven track record leading organizations through start-up, survival, turnaround, and growth modes.
MILITARY VETERAN AND HIGH PERFORMING SENIOR BUSINESS LEADER
P&L, Global Strategy, Global Operations, Global Services (BPO/ITO), Global Risk, Consulting, Financial Planning/Analysis, Shared Services, IT, Global Workforce Optimization, Six Sigma, Lean, M&A, Business Development/Sales, Compliance, and Global PMO
Selected Achievements
Proactive and Decisive Leader adept at creating vision, developing action plans, and producing results Results-Oriented Strategist adept at identifying problems and implementing solutions that drive performance and results Transformational Leader adept at establishing strategic partnerships, trust, collaboration, growth, and high performing teams.
❖ Core member of CEO’s Leadership Team owned P&L, strategy development, and execution decisions. Increased productivity generated several million dollars in incremental revenue and 20%+ in cost savings.
❖ Key member of Team that took a product concept and converted the product into a market leader that achieved its five (5) year revenue objective in three (3) years.
❖ Key contributor to achievement of 150% Year over Year growth. Established value creation strategies that yielded higher revenue, increased customer satisfaction and customer retention rate of 97%+.
❖ Key member of Team that conducted multiple strategic acquisitions and mergers. Also, member of Team that facilitated sale of Organization that yielded multiple of 7x gross revenue and asset sales that yielded 20%+ market premiums.
❖ Launched and Led Global PMO/BPO/ITO collaborating with C-Level and stakeholders to create and execute strategies generating multi-year revenue, cost containment/reduction and risk mitigation for multiple business lines/verticals. Solutions delivered from US, Canada, Mexico, UK, LATAM, Europe, APAC, India, Philippines, and Mauritius.
❖ Produced 24 consecutive quarters of revenue growth, and margin improvements while significantly improving client service quality and value. Results delivered through strategic process improvement management practices, selective outsourcing, facility rationalization, technology standardization, workforce buy-in and optimization, and supply chain optimization. Led Global Business-to-Business, Business-to-Consumer, Business-to-Government, and Military Verticals.
❖ Led enterprise-wide technology conversion and transformation projects for unified communication, vendor management system, call analytics, HR platform, Infrastructure, and CRM. Projects delivered $37MM+ in annual savings, improved service delivery, productivity, operations and sales effectiveness and efficiency. Projects achieved a 23% cost reduction, 99.75% on-time completion and under budget, and NPS score of 95%+.
❖ Proven effective leader that delivers accretive value in any business vertical, business structure, organizational structure, diverse workforce, work setting (e.g. in office or remote/virtual) and giving back to the community. Leading people to achieve optimal results, creating dynamic and agile Organizations that thrive and transforming Organizations from distressed to best and best to elite delivering measurable economic and community value
Professional
Experience
2011-Current
President, The Covington Advisory Group LLC. President and Chief Executive Manager, MPact Partners LLC – Integrated Healthcare Solutions Responsibilities
Facilitated the interest of the founder and CEO for the acquisition of his Healthcare IT/BPO company for a multiple of seven (7) times gross revenue to an international company, significantly enhancing its core product and establishing a stronger US and Global market commercial presence. - Collaborated with CEO and C-Suite to evaluate and develop a long-term growth strategy to achieve desired growth and profit objectives of $100MM to $300MM gross revenue with higher margins in three (3) years.
2018-2020
Vice President Strategic Accounts, Sapience Analytics
Global Business Development and Sales. Implemented a strategic operations and margin improvement plan that targeted $150M of savings. Delivered more than $200M in reductions that enabled $100M in growth investments and improved margins for 24 consecutive quarters through implementation of various strategies and partnering with business leaders. - Created a business-wide customer focused and innovative culture by implementing a Net-Promoter. program, Client Advisory Boards and executive outreach with strategic customers. - Revamped Six Sigma quality program and training.
2000-2002
Household Credit Services (HSBC), Department Manager, Oper
Improved all KPI’s by 15% and led team to consistent achievement of financial and quality objectives. - Led 350+ FTEs and created a high performing team that consistently delivered period over period productivity improvement through process management/improvement, management best practices and staff/stakeholder engagement, staff development, capacity planning and automating routine work activities. - Developed internal and external strategic partnerships to identify, manage, and mitigate risk. - Led leadership development program facilitating employee growth and management succession strategy. - Maintained employee engagement scores that exceeded the 90th percentile.
1997-2000
First USA (JP Morgan Chase), AVP, Third Party/BPO Management and Receivable Sales AVP, Operations and Risk Management AVP, Recovery Operations and Back Office Operations
Turnaround leader addressing service and compliance issues caused by 5-fold volume increase in two (2) years. Improved performance by an average of 38.25% and exceeded all service levels through operational planning/financial planning and analysis, contract, and process improvement strategies. - Integrated four (4) major acquisitions/mergers (Bank One, First Chicago, First Commerce, Chevy Chase) into Organization. Streamlined operations, increased productivity, and delivered 27.32% savings. Facilitated extensive cross-functional and cross-business unit collaboration to achieve desired outcomes. - Managed RFP’s, RFQ’s, due diligence, and contract negotiations for vendor selection/governance, and sale of $6.3 B of securitized/un-securitized distressed receivables yielding over $400 MM+ in profits. - Upgraded the skill level and capability of the work team through effective employee coaching, mentorship, training and recruiting.
1991-1997
AT&T Universal Card, Manager, Third Party/BPO Management and Receivable Sales Team Leader, Collections Manager, Compliance (Auditor) Manager, Litigation, BK, and Probate Manager, Operations and Risk Management Manager, Credit and Originations
Contributed to start-up and success of Universal Card – converting concept into revenue producing product. Exceeded all objectives two (2) years ahead of forecast. - Developed processes for managing technology risk, business risk, business continuity, supplier risk, audits, and controls achieving internal and external recognition as an industry leader. - Successfully negotiated contracts and developed strategies that improved operating margins by 37.1%.
Miliary Service & Achievements
U.S. Navy, Aviation Electronics – Graduated at Top of Class
B.S. Management, University of Phoenix - Graduated with Honors (GPA 3.85)
M.S. Management and Leadership, Western Governors University (Graduated Two plus (2+) Year Program in Six (6) Months)
MBA Information Technology Management, Western Governors University – Projected Graduation Date December 2023.
Top Performer and President Club Recipient -AT&T, Household Credit, FUSA, Ceridian, Sapience (Each Company's highest award) Sigma Beta Delta – International Honor Society in Business, Management, and Administration The National Society of Leadership and Success Volunteer: St. Jude Children’s Hospital, Hurricane Harvey Shelter, Hurricane Katrina, Hot-Dogs for Homeless, Mentor, and Other Groups Board Member Lima Club Board Member L.I.F.E (Community Outreach) Western Governors University Mentor.
