Rick Phipps Email and Phone Number

Directed the General Accounting, Accounts Payable, Accounts Receivable, Document Coordination, Employee Expense and Corporate Card Administration activities for the corporation with a staff of seven.• Developed tracking and notification system to ensure no vendor offered early pay discounts were missed, resulting in a $1.6MM savings to the company in the first year, $1.8MM year two and $1.925MM year three.• Implemented ongoing vendor statement audit to investigate and secure reimbursement for duplicate payments, overpayments, outstanding credits and missing credit memos, resulting in $400K recovery during year one, and an additional $200+K in each of years two and three.• Led Steering / Implementation and Testing teams to successfully replace a 100% paper-based invoice receipt and entry process with OpenInvoice 15 days ahead of management mandated schedule, achieving 95% electronic entry, and a more responsive Approval Workflow.• Implemented AP ACH’s, replacing paper check only payment process, resulting in 92-94% ACH’s each check run, significantly reducing the need and cost to process Stop Payments and reissued checks, saving in excess of $10K the first year.• Improved AP process, realigned workloads, updated equipment and provided additional training for team, reducing the backlog from 27,000 invoices 60+ days past due, to less than 2,000 current.

Analyzed, verified, coded and routed AP invoices and employee expense reports, prepared account reconciliations, journal entries, accounting reports and provided backup for the department manager• Requested responsibility for calculating and preparing Department Manager’s monthly cash and accrual journal entries, allowing Manager to complete monthly closing activities one day earlier.• Developed Business Policy and Procedure for analyzing Leasehold Suspense account and timely reclassifying entries to the appropriate AFE, resulting in an account balance in excess of $2.75MM, being reduced to less than $50K monthly going forward.

Supervised Accounts Payable activities for two field offices with a staff of five.• Volunteered to assume responsibility for calculating / processing monthly Crude Oil sales and Gas Marketing accruals and reconciling accruals to subsequent payments / charges; streamlined workflow and allowed Marketing Manager to focus on other priorities.• Analyzed and revised process / procedures to prepare and submit Oil Lessee Reporting to the Bureau of Indian Affairs, eliminating consistently late reporting and recurring monthly penalties of $12K - $15K.• Developed and implemented monthly reporting process to monitor, analyze and reconcile all active General Work Order AFE’s, providing management an additional tool to make informed decisions relative to current and future projects.

Conducted monthly closing activities for the North American headquarters of Thales, including administering and processing the bi-weekly payroll for 75 employees; Tax reporting, Regulatory Compliance, Annual Budget, Accounting Functions Documentation; assisted HR Manager with benefit administration.• Financial Team Lead for implementation, testing and conversion from Solomon Financial Accounting system to Oracle, within allotted budget and 15 days ahead of schedule.• Recruited as one of two North American Finance employees to be sent to the UK to train, test, investigate and debug a Corporate installed later version of Oracle, prior to installation in the U.S.• Served as interim Director of Business and Administration (Controller) in addition to assigned duties for three months during Corporate search to replace terminated incumbent.