David Bailey Email & Phone Number

Reporting to SVP and Chief Internal Auditor, had overall responsibility for internal audit for the Canadian operations (largest Business Group in the company). This included assessing the effectiveness and adherence to internal controls to help ensure that management meets its objectives. Key accomplishments:• Issued quarterly opinions to the audit committee and executive management on the effectiveness of internal controls • Identified key risks and other areas of concern, systemic… Show more Reporting to SVP and Chief Internal Auditor, had overall responsibility for internal audit for the Canadian operations (largest Business Group in the company). This included assessing the effectiveness and adherence to internal controls to help ensure that management meets its objectives. Key accomplishments:• Issued quarterly opinions to the audit committee and executive management on the effectiveness of internal controls • Identified key risks and other areas of concern, systemic issues and their root causes. This included identifying weaknesses in the process to obtain reimbursements of claims from the reinsurance companies that resulted in identifying a $2 million under recovery. This amount was subsequently claimed and received. • Identified control weaknesses related to the detection and prevention of fraud related to policyholder claims and sales agents’ transactions. Developed recommendations for improvements to related processes. Implementation of recommendations by management resulted in the identification of frauds that in total have exceeded $2 million and have also prevented the frauds from continuing.• Identified and discussed with senior management key observations and potential value added improvements• Developed an audit team of 18 staff Show less

Reported to Chief Financial Officer, Sun Life Financial. Was transferred from Sun Life Financial Asia to the Corporate Office to take on newly created role. Responsible for the enterprise wide strategic planning process from strategy development to long range financial forecasts. Key accomplishments:• Developed new approach to strategy formulation, documentation and communication• Developed business unit specific value chain analysis for use in assessing relative profitability of the… Show more Reported to Chief Financial Officer, Sun Life Financial. Was transferred from Sun Life Financial Asia to the Corporate Office to take on newly created role. Responsible for the enterprise wide strategic planning process from strategy development to long range financial forecasts. Key accomplishments:• Developed new approach to strategy formulation, documentation and communication• Developed business unit specific value chain analysis for use in assessing relative profitability of the business units as well as opportunities to enhance profitability by making changes along the value chain. • Analyzed and made recommendations regarding improving profitability of joint venture operation in China. Developed a score card to assess the financial viability of the various sales offices. Developed a product profitability assessment process to determine the value of new business using both local and Canadian accounting principles which was used to refocus sales plans to drive higher profitability.• Participated in a strategic review of joint venture operations in India Show less

Transferred from Corporate Office to Hong Kong to become the Chief Financial Officer for the Asian region. I was responsible for all finance related matters on a regional basis, which required close interaction and direction of the Chief Financial Officers of the individual business units within the region. Accomplishments included: Acquisition and integration of CMG Asia with our Hong Kong insurance operationsOngoing analysis of potential acquisition candidates including management of… Show more Transferred from Corporate Office to Hong Kong to become the Chief Financial Officer for the Asian region. I was responsible for all finance related matters on a regional basis, which required close interaction and direction of the Chief Financial Officers of the individual business units within the region. Accomplishments included: Acquisition and integration of CMG Asia with our Hong Kong insurance operationsOngoing analysis of potential acquisition candidates including management of the due diligence processDevelopment of improved business unit profitability/operational results analysisRegional responsibility for strategic, operational and financial planning and analysis and review with corporate executive management Acted as a member of subsidiary companies board of directors or participated in other capacities at the board meetingsReported to the President of sun Life Financial AsiaMentored and developed 6 direct reports and 6 business unit CFOs Show less

Reported to the SVP and Corporate Controller. Recruited subsequent to IPO of recently demutualized financial services company, to assist in developing and integrating appropriate planning and analysis capabilities and disciplines. This was a new position created to meet the changing requirements of the organization. Key accomplishments: • Assisted CEO with development of agendas and materials for and participated in Executive Team meetings for the organizations 10 most senior… Show more Reported to the SVP and Corporate Controller. Recruited subsequent to IPO of recently demutualized financial services company, to assist in developing and integrating appropriate planning and analysis capabilities and disciplines. This was a new position created to meet the changing requirements of the organization. Key accomplishments: • Assisted CEO with development of agendas and materials for and participated in Executive Team meetings for the organizations 10 most senior executives.• Worked with the President & COO in analyzing and assessing operational issues and initiatives.• Developed and managed on an ongoing basis operational and financial planning and analysis on an enterprise wide consolidated basis.• Ongoing creation of effective analysis of financial results for internal senior executive management, Board of Directors and the external investor community through quarterly and annual Management Discussion and Analysis and Annual Information Forms.• Developed and implemented key management information reports including Key Performance Indicators.• Developed and oversaw quarterly operational business review process.• Developed and maintained effective disclosure controls.• Development of 6 direct reports Show less

Reporting directly to the President of Westcoast Capital was selected by the senior executives of Westcoast Energy to be lead the start-up of a new business venture, which provided energy related financing for both the retail and business sectors.• Interacted directly with banking community in creating arrangements for securitizations, vendor financing relationships, co-investments and other arrangements as required.• Developed innovative and cost effective funding methods as a source… Show more Reporting directly to the President of Westcoast Capital was selected by the senior executives of Westcoast Energy to be lead the start-up of a new business venture, which provided energy related financing for both the retail and business sectors.• Interacted directly with banking community in creating arrangements for securitizations, vendor financing relationships, co-investments and other arrangements as required.• Developed innovative and cost effective funding methods as a source of capital for the financing product lines offered by various operating companies. Successfully structured and negotiated the securitization of a $500 million pool of rental and financing contracts.• Consistently delivered above forecast profit margins. Show less

• Developed and implemented plan to separate commercially competitive business lines from regulated utility

Bottom line responsibility for three commercially competitive business linesDeveloped and implemented monthly business line results analysis and review

Testified at Ontario Energy Board hearings in support of approval of key projects and distribution systems expansion initiatives

Generated financial forecasts for use by senior management and as evidence for Ontario energy Board hearings Testified at Ontario Energy Board hearings in support rate approval submissions

Developed, implemented and managed a financial/operational planning processManaged IT teamLead the creation of the company's first strategic plan

Provided clients with business and tax planning adviceBusiness development of new clients

Partner

Mba, Strategy

Also have an CA designiation achieved in 1980

B.Comm. (Honours Business Administration), Accounting