Darrel Fergus, Group Finance Director

Darrel Fergus

Group Finance Director

Weatherford International Inc

Location
United Arab Emirates
Education
Bachelor's degree, Accountancy
Experience
19 years, 10 Months

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Work Experience

Total years of experience :19 years, 10 Months

Group Finance Director at Weatherford International Inc
  • United Arab Emirates
  • June 2005 to March 2015

Reporting to the President (Eastern Hemisphere) and mentoring a team of 4.
Acting as the Senior Finance Executive for the Europe, Africa, and Middle-East regions.
Deriving and interpreting the results from Financial Reporting to the corporate office.
Providing assistance to the President (Eastern Hemisphere) in the role of a strategic business partner.
Coordinating the budgeting, forecasting, and planning issues.
Imparting advice to regional business leaders pertaining to new market entries and new business opportunities.
Acting as the Director on the Board and a Senior Officer for 15+ key international Weatherford entities.

Major Accomplishments:
Monitored the cash repatriation efforts from specific entities in Africa with stuck cash.
Piloted restructuring efforts during 2013 and 2014 including closure of loss generating businesses valuing $100 Million as cost savings.
Managed the rationalization of inefficient finance functions in Central Europe, leading to $5M annual cash savings.
Ensured detailed and direct supervision over the $1B EPC contract across Iraq.
Established controls around forecasting and cost control.
Handled external auditors to assist the single largest risk area on behalf of the company.

Prior to this was Region Finance Controller - Asia Pacific based in Kuala Lumpur from 2010 to 2013 and other Controllership positions in Weatherford from 2005 to 2010 based in Singapore and Kuala Lumpur

Business Advisor at EnCana Corporation, Calgary
  • Qatar
  • September 1998 to August 2005

Began activities as a member of financial reporting team in 1998 as financial reporting analyst, with progression to the international business advisory role with AEC/EnCana Corporation in 2000.
Assisted the statutory audits and tax filings, handled finance functions, and assisted JV reporting and liaisons with local government entities and partners in that role.
Piloted the finance function in the middle-east for EnCana in 2002, with handling of financial aspects for Qatar, Bahrain, Oman, and Yemen operations based in Doha, Qatar.
Reported to the VP (Accounting) - INVE Division and supervised a team of 6.
Established new offices in Doha & Muscat and laid down financial controls and systems for operations in 3 new markets.
Steered the streamlined handling of finance functions of EnCana' across the middle-east ranging from 2002 to 2004.
Coordinated internal and external (joint venture) budgeting and reporting, cash management, establishing system environment and business processes, and interpreting tax, legal, and contractual requirements.
Liaised with JV partners and coordinated activities of audit, contract, and tender committees.
Interacted with partners, local governments, and corporate analysts from 2004-05 for ensuring divisional reporting and budgeting requirements for INVE division in Calgary.
Assisted statutory audits, tax filings, and SOX 404 compliance documentation for the INVE division.

Major Accomplishments:
Established new offices for EnCana across Qatar and Oman.
Set up independent structures for JV reporting with laying down of policies/procedures for 3 offices in the middle-east.

Audit Senior at Arthur Andersen,
  • United Arab Emirates
  • June 1995 to September 1998

Ensured timely completion of audit engagements, handled junior staff activities, and offered compliance advice to clients.
Gained exposure across a wide variety of industries, including oil and gas exploration, services, distribution, marketing, manufacturing, hospitality (hotels), and transportation activities.

Education

Bachelor's degree, Accountancy
  • at Haskayne School of Business, University of Calgary
  • January 1989

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Specialties & Skills

Hyperion Enterprise
Microsoft Excel
Oilfield Services
Project Management
JD Edwards
ACCOUNTANCY
ANALYSIS
BUDGETING
BUSINESS PROCESS
CASH MANAGEMENT
FINANCE
FINANCIAL REPORTING
MARKETING
MICROSOFT WINDOWS 2000
REPORTS

Languages

English
Expert

Training and Certifications

Chartered Accountant, Canadian Institute of Chartered Accountants (Certificate)
Date Attended:
June 1998