Rusty Bayles Email & Phone Number

Provo, Ut, Us

Payson, Utah, Us

Lehi, Utah, Us

OVERVIEW:I was promoted into this position primarily to address the rapidly escalating costs within the production facility. Leading a team that included the Controller, Plant Controller, Tax Director, IT Director, and Manager of Corporate Finance. I reported to the CFO of the parent company, TCL, in India and am the ranking finance executive in TCNA. I established a series of plans to resolve our cost issues. To this end, I worked with the company’s bankers, credit rating agencies, auditors, actuaries, and minority partner within the operating plant. I managed a broad range of core financial and operational functions.Additionally, I interacted with individuals in Mumbai on various initiatives, including required SEBI reporting for the Mumbai stock exchange and internal audit. I prepared and delivered quarterly presentations for the Board and Board Audit Committee as well as the plant’s Operating Committee.HIGHLIGHTS:■ Refinanced company's debt ensuring compliance with selected debt covenants. Led refinancing to new term loan B facility at a lower interest rate cost.■ Unwound interest rate swaps applicable to old loans and placed new interest rate swaps to mitigate variable interest component on new TLB. Worked with each bank to achieve overall favorable position for Tata. Designed new IRS scheme and worked with banks on competitive bids.■ Spearheaded dramatic improvement in cost problems within the plant. Replaced personnel, shifted job responsibilities among existing team members, implemented changes to SAP system, and established new A/P procedures.■ Researched and wrote risk management policy currently in effect within Tata Chemicals. Benchmarked policy against similar policies at other U.S. companies, worked through policy terminology with bankers, and ensured inclusion of credit agreement covenants within the document.

Ke

OVERVIEW:I held a CFO-equivalent position within Tata Chemicals Magadi in Kenya (international experience), holding full P&L accountability for all financial functions. In this role, I supervised and trained a team of 6, primarily in management, and assisted our team in developing Key Performance Indicators as well as other strategies to drive successful outcomes. Additionally, I supervised maintenance parts warehouse facility, IT function, and payroll.I chaired the Credit Committee, reported in both Kenya GAAP and Indian GAAP, prepared strategic plans and annual budgets/forecasts, and led SAP implementation activities among other activities. For this position, I emphasized working with bankers and negotiating payment terms with suppliers within a financially troubled situation, as well as settling outstanding issues with the Kenyan government.I was promoted into this position and tasked with addressing issues such as our SAP implementation and internal processes/procedures as well as resolving fiscal problems. Specific highlights are included below.

HIGHLIGHTS:■ Overcame significant delays to close books on time that enabled the company to consolidate TCML results. Expedited reorganization of group and developed strategy to address outstanding problems quickly that had previously prevented closing. Subsequently closed first 3 months of the calendar year in April.■ Implemented segregation of accounting duties to reduce potential for fraud within the organization. Negotiated outsourcing strategy to significantly reduce the amount of cash handled in the cash office to improve controls and reduce security requirements. Additionally separated receipt and entry of invoices from processing of payments to reduce fraud potential.■ Reduced the accounting staff by 25% while improving efficiency in work completion. Reorganized department, redistributed job responsibilities, and shifted team members to capitalize on their strengths.■ Improved procedures in the receivables office to ensure timely clearing of incoming payments and improve accuracy and timeliness of billing resulting in improved collections and increased customer satisfaction. Established standard purchasing, receiving, invoicing, and payment procedures, ensuring payment of invoices in a logical order and transforming supplier dissatisfaction into satisfaction.■ Interacted with government officials to secure payment of VAT refunds, retaining KPMG to certify VAT refund claims and organizing team of employees/consultants to visit Port Authority at Mombasa and process transactions in their computer system. Negotiated with bankers for facility to advance cash against VAT refund claims (2 years in arrears)■ Met with World Bank on potential financing options for future mineral resource development, as well as with Barclays Bank on normalizing relationships with the company.

Us

OVERVIEW:I built a distinguished, 17+-year record of achievement and advancement with an industry-leading operation. I directed numerous financial functions within a plant operation with 2.6 million tons in annual production and $200 million in annual expenditures. My leadership responsibilities including supervising, training, coaching, and evaluating a team of 6 across maintenance, IT, accounting, and finance areas; I reported to the Vice President of Finance. I prepared a budget of $180 million in expenses and about $20 million in capital, presenting budget and quarterly forecasts to senior management for approval. I interacted with Wyoming State and Sweetwater County authorities as well as with the BLM on tax and royalty matters. I performed discounted cash flow analyses for proposed capital projects and collaborated with Deloitte on annual audit. Additionally, I contributed as a member of multiple due diligence teams that evaluated potential targets in the U.S. and worldwide.I was promoted to oversee core financial activities and serve as “2nd in command” to the Plant Manager, including the added responsibility of the Philippine operation and functions from the corporate office that were transferred to Green River. ** Previously, I served as a Regional Controller and Controller with the Student Loan Marketing Association (Sallie Mae) **Highlights for this position are listed below.

Us

HIGHLIGHTS:■ Drove 180-degree turnaround for an under-performing Accounting/Finance department through addressing and resolving performance issues, establishing aggressive new standards, improving financial controls, instituting team building and training strategies, and providing timely feedback to staff. Achieved “worst-to-first” transformation.■ Extended payables turnaround through negotiating terms to improve match of payables with cash receipts. Created cash forecast model to steer company through managing partner's bankruptcy.■ Reduced working capital required for warehouse inventory while increasing moving inventory and improving availability of required spare parts.■ Led industry committee in efforts to change severance tax valuation methodology through legislation. Negotiated and gained support from the Wyoming State Department of Revenue and the state organization of county commissioners. Discussed position with the Governor and Attorney General of Wyoming. Secured support from the Interim Joint Minerals Committee; testified to both the House and Senate Minerals Committees

Newark, De, Us

Master Of Business Administration (M.B.A.), (Msia) Industrial Administration / Finance

Bachelor'S Degree, Finance: Emphasis In Investment Analysis And Commercial Banking

Education record