Michael Bailey
VP Finance, Accounting and Administration at Summit Discovery Resources, LLC- Claim this Profile
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Credentials
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Certified Public Accountant
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Experience
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Summit Discovery Resources, LLC
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United States
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Oil and Gas
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1 - 100 Employee
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VP Finance, Accounting and Administration
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Sep 2018 - Present
Reporting to COO, responsible for the finance, accounting, human resources and IT for the company (a subsidiary of Sumitomo Corporation). Key contributor to strategic direction, driving business partnering and ensuring a culture of excellence and one team.
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Chief Financial Officer
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Oct 2016 - Sep 2018
Recruited as a key member of a turnaround team to improve company performance through thought leadership and strategy.Responsible for the accounting, financial reporting and forecasting, risk management, human resources, information technology and maintaining relationships with capital providers (including two Private Equity interests and a Banking Group).Providing leadership to the business with a focus on driving growth opportunities, providing insight into business operations, evaluating business processes and implementing changes to make more efficient, strengthen controls and improve reporting and forecasting.
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Wood Mackenzie
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United Kingdom
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Information Services
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700 & Above Employee
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VP Commercial Finance / VP Finance
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2014 - 2016
As VP Commercial Finance was a strategic business partner for the Global Research Division providing analysis and leadership to over half of the Wood Mackenzie business (including budgeting, staffing and product profitability). As a member of the Research Leadership Group, provided thoughtful insights to key business decisions including products and acquisitions.As VP Finance was accountable for all finance related matters for the Americas region including developing and implementing a new finance organizational structure. Drove internal control and regional performance with a focus on commercial operations and partnering with the business to improve financial results. As a member of the Regional Executive team, input and helped to implement the overall strategy of the region.• Oversaw the transition from Private Equity to Public ownership, including the Implementation a robust control environment in accordance with Sarbanes Oxley requirements• Introduced a performance culture that drove accountability and ownership through the organization
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BP
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France
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Business Consulting and Services
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1 - 100 Employee
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Finance / Performance Director E&P Global Operations
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2010 - 2014
I was selected to build the business, financial, compliance and performance infrastructure to support the Global Operations Organization that consisted of 45 major assets and ten business units. I oversaw all financial and nonfinancial planning, reporting and analysis, investment governance, ethics and compliance, a $4 billion operating budget and a $3 billion capital budget. I introduced a new reporting process to increase transparency, provided budget ownership and delivered line-of-sight view on projects and activities. In addition, I developed and launched Spot Fire, a standardized reporting tool that drove significant cost savings.Additionally, I served as a Board Director for BP Trinidad and Tobago, LLC, ($6 billion in assets) where I provided leadership for budgeting, asset divestiture, subsidiary development, new market entry, petroleum licensing, gas and LNG contracts.
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Head of Performance Reporting, E&P Global Segment
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2007 - 2010
When I returned from my four-year international assignment in London, I directed the planning and development of senior executive reporting of E&P financial performance for the segment comprised of 18 regions. I provided vision for upstream strategy, investment strategy presentations and ad hoc reporting. During my tenure, I introduced new reporting processes, streamlined and consolidated management reporting, wrote stock exchange announcements and supported the CEO and CFO on external presentations.
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E&P Accounting Policy Manager, E&P Global Segment
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2005 - 2007
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IFRS, US GAAP and UK GAAP Advisor
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2003 - 2005
This was an international assignment at the corporate headquarters where I served as GAAP subject matter expert providing technical accounting guidance to transition BP from UK GAAP to IFRS. In this role, I analyzed IFRS standards and their impact to the business, compared them to UK GAAP and US GAAP, coauthored the Group Reporting Manual under IFRS, co-led the global rollout and training of IFRS, presented to Group leaders the impact of transitioning to IFRS and prepared external IFRS adoption materials including SEC requirements.
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Manager, US GAAP
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2002 - 2003
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Senior Financial Analyst
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1999 - 2002
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Financial Analyst
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1996 - 1999
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Education
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The University of Chicago Booth School of Business
Master of Business Administration (M.B.A.), Finance -
Purdue University
Bachelor of Science (B.S.), Accounting and Finance