Dipo Iluyomade
Houston,TX
Summary
I am a results-driven and reliable finance executive with over 20 years of international experience in the energy sector, including significant roles in the USA, the Middle East, the Caspian Region, and Sub-Saharan Africa. In multiple senior finance roles I’ve held, I have led strategic financial and operational initiatives, managed large capital projects worth over $300 million, and ensured regulatory compliance. My efforts have resulted in significant improvements in cash flow management, revenue growth, cost savings, and operational metric improvements. I have also been directly involved in the implementation of financial systems, the optimization of procurement processes, and led transformative operational changes. As a Chartered Accountant with advanced training from the Wharton School and Texas A&M University, as well as an MBA, my leadership extends beyond finance to supply chain management, sales and marketing, and human resources, where I have collaborated very closely with professionals across multiple continents, driving process improvements, revenue growth, and significantly improving spend levels.
Overview
25
25
years of professional experience
Work History
VP and Head of Finance
NexTier Completions Solutions
Houston, TX
08.2023 - Current
- I manage the financial operations of the Completions Business. My role involves driving profitability, overseeing commercial risk, liquidity, and capital project spending. I also manage technology deployment and spending optimization, plan for revenue growth, and identify investment opportunities. Additionally, I oversee board-level communications for the Completions Business, and lead a high-performing team in Operations, Finance, and Accounting.
- Overseeing financials for the Completions Business, with a revenue range of $3B to $4B.
- Directing capital project spending, managing an annual budget of $300M to $400M.
- Managing commercial risk and liquidity, and reducing financial risk incidents significantly.
- Leading financial due diligence for potential acquisitions valued at $200 million to $500 million.
- Implementing cost-saving initiatives that have resulted in $60M to $100M in annual savings.
- Directing financial planning and analysis for a workforce of 4,000+ employees.
- Supervising the deployment of $20 million to $50 million in innovative technology investments.
- Managing a finance team of 40 professionals across multiple locations in the U.S.
- Directly driving strategic capital reallocation. Currently steering a shift away from traditional rental models to lease-to-own or direct purchase strategies, which are anticipated to enhance returns with an annualized savings of $20 million.
- Directed increased automation of NexTier’s financial reporting processes, reducing reporting time by 5 to 10%.
- Managed cross-functional teams to deliver technology upgrade projects on time and under budget, increasing system efficiency by 25%.
- Effectively communicated financial performance to the board/C-Suite, resulting in a high approval rate for proposed financial strategies.
Treasurer & Chief Accounting Officer
NexTier Completions Solutions
Houston, TX
01.2022 - 07.2023
- I provided strategic direction, managed financial and non-financial regulatory disclosures, oversaw debt refinancing and negotiated interest rate swaps, led due diligence and integration for business acquisitions, communicated finance-related strategies to the board, and developed and maintained a high-performing finance team.
- Managed debt refinancing and interest rate swap negotiations for an $800 million debt portfolio.
- Oversaw financial operations for a company with annual revenues exceeding $2 billion.
- Managed a finance team of 60 professionals, ensuring high performance and development.
- Successfully integrated four business acquisitions, expanding company operations by 25%.
- Negotiated contracts and agreements totaling over $50 million annually.
- Implemented cost-saving measures that reduced operational expenses by 10%, saving $20 million per year.
- Spearheaded a financial restructuring plan for a debt portfolio worth $800 million.
- Enhanced financial reporting systems, reducing month-end closing time by 20%.
- Led the implementation of a new ERP system, improving financial data accuracy and reporting capabilities.
- Managed regulatory disclosures, achieving a 100% compliance rate.
- Directed finance-related strategy communication to the board.
- Developed and maintained a high-performing finance team, increasing team productivity by 25%, and significantly reducing turnover.
- Enhanced liquidity management, resulting in a 20% reduction in days sales outstanding (DSO), and freeing up working capital.
- Implemented a multi-tiered risk management framework that decreased financial risk exposure by 10% to 15%.
Senior Director, Finance Shared Services
NexTier Completions Solutions
Houston, TX
10.2019 - 01.2022
- I spearheaded the formation of the Finance shared services team after the Keane and C&J merger. I gained firsthand experience in business acquisition accounting, particularly in fixed assets revaluation. I oversaw the setup and staffing of remote teams, and led the implementation and deployment of ERP systems for both Finance and Procurement teams. Collaborating closely with IT, I established and monitored productivity-related data & analytics tools. Additionally, I successfully managed the financial close process and oversaw process optimization designs for Finance and Procurement teams.
- Led the formation of the Finance shared services team post-merger, successfully integrating 100 employees and achieving a 20% increase in efficiency.
- Managed fixed assets revaluation projects worth $200+ million during the merger process.
- Led ERP systems implementation across 5 regional offices, covering a total user base of 200 employees.
- Orchestrated the financial close process for a $3 billion annual revenue company, ensuring accuracy and compliance.
- Directed process optimization initiatives that improved the efficiency of financial key sub-ledger workflows.
- Implemented a centralized procurement system, managing 30,000+ transactions annually.
- Oversaw the successful migration of financial data involving 500,000+ records during the ERP deployment.
- Led the post-merger integration of finance systems, consolidating data from 5+ legacy platforms, and enhanced reporting capabilities.
- Oversaw the automation of the financial close process, reducing the closing cycle from 14 days to 10 days.
- Managed a comprehensive annual audit of fixed assets, involving 30,000+ items across multiple locations, ensuring compliance.
- Managed business acquisition accounting for fixed assets revaluation worth $100 million.
- Established and monitored productivity-related data and analytics tools, leading to a 10% increase in overall team productivity.
Finance Director
Schlumberger
Houston, TX
01.2018 - 09.2019
- Company Overview: Vertical Integration Business, North America
- I structured and managed teams, improved processes, supported business acquisitions, reviewed supply chain and supplier contracts, approved financial reporting, and oversaw the deployment of SAP. Additionally, I renegotiated contracts for the Mines business in West Texas.
- Renegotiated new contracts for the Mines business achieving $15 million in annual savings.
- Led a finance team of 5 members to streamline financial processes, resulting in a 5-10% reduction in close time.
- Managed an annual budget of more than $100 million, ensuring all financial goals and objectives were achieved.
- Oversaw financial operations across 5 business units, enhancing overall financial performance by 18%.
- Implemented additional cost-saving initiatives that reduced overhead expenses by $5 million annually.
- Spearheaded a cross-functional initiative that integrated financial analytics with supply chain management, resulting in a 5% reduction in inventory holding costs.
- Led a comprehensive review of capital expenditure projects totaling $100 million, optimizing resource allocation.
- Supported 2 business acquisitions, ensuring seamless transitions and successful integration, resulting in a 15% revenue increase.
- Reviewed and approved all required financial reporting, ensuring 100% compliance with regulatory standards.
- Vertical Integration Business, North America
Manager - Finance Operations Integrity & Business Excellence
Schlumberger
Houston, TX
01.2017 - 01.2018
- Company Overview: Western Hemisphere
- Led a dedicated team of 40 (12 direct reports) to enhance finance services across the Western Hemisphere (North & South America). I focused on designing and implementing strategic initiatives aimed at transforming finance shared services and the global finance organization. I ensured adherence to controls, risk management tools, and business systems, and managed non-conformance events according to company standards. I developed procedural rules, monitored accountability, and facilitated training and improvement initiatives, aiming to enhance service delivery processes. Additionally, I oversaw the partial outsourcing of general accounting activities, established a digital transformation team, and implemented automation for finance activities. I was also directly involved in ERP deployment across Latin and North America and developed comprehensive training platforms for the finance team. My efforts aimed at establishing standardized work instructions to streamline operations.
- Managed a dedicated team of 40 (including 12 direct reports) to define and enforce controls, risk management tools, and business systems supporting Finance Service Delivery.
- Managed a dedicated team overseeing financial operations across over 10 countries in the Western Hemisphere, ensuring consistent service delivery.
- Coordinated with multiple cross-functional teams to implement strategic finance initiatives, enhancing collaboration and process alignment.
- Implemented a centralized financial control system for a network of 25 regional offices, standardizing processes and reducing inconsistencies by 20%.
- Led a cross-functional task force to streamline the finance shared services workflows, resulting in a 10 -15% increase in process efficiency.
- Championed the integration of robotic process automation (RPA) within finance operations, automating 5-10% of transactional activities and achieving a 10% reduction in operational costs.
- Developed and prioritized 50+ continuous improvement opportunities for service delivery, leading to a 25% reduction in process cycle times and a 10% increase in field operations efficiency.
- Successfully completed partial outsourcing of 60% of Western Hemisphere’s general accounting activities, reducing operational costs by 20%.
- Established the first digital transformation team in the Houston-based Finance shared services, automating 10-15% of rule-based finance activities and reducing manual processing errors by 25%.
- Developed a comprehensive training platform for the finance shared services team, increasing training completion rates by 35% and knowledge retention by 25%.
- Firsthand implementation of the Latin and North American deployment of new ERP (SAP) across three business areas, improving data accuracy by 20%.
- Established end-to-end standard work instructions for the Finance shared services team, leading to a 40% improvement in workflow efficiency and a 25% reduction in operational inconsistencies.
- Western Hemisphere
General Accounting Manager
Schlumberger
Houston, TX
01.2015 - 01.2017
- Company Overview: Western Hemisphere
- I oversaw a large finance team, ensuring accurate financial reporting and providing support to operational functions. Responsibilities included managing a team of professionals, reviewing financial reports, offering strategic financial guidance to management, and developing policies and processes to optimize finance and procurement operations. Additionally, I managed the General Accounting team for the Western Hemisphere's shared services, focusing on staff development and resource management.
- Led a large professional finance team of 250+ members, providing quality financial reporting and support to field operations.
- Managed a team of 250 personnel with 14 direct reports.
- Provided financial decision support to Western Hemisphere Operations management groups, overseeing $26 billion in revenue.
- Reviewed and approved financial reporting for the business, ensuring accuracy and compliance for financial statements annually.
- Developed and modified 10+ policies and processes, leading to a 15% improvement in efficiency for finance and procurement-related business improvement initiatives.
- Managed the Western Hemisphere shared services General Accounting team of 250 staff, including the resourcing, development, and promotion of 30 professional staff members annually.
- Spearheaded the integration of financial systems across the Western hemisphere.
- Oversaw budget planning and execution for a $100 million annual operating budget.
- Coordinated financial training programs for 500+ employees across multiple locations.
- Led cost-saving initiatives that resulted in annual savings of $10 million.
- Supervised the consolidation of financial data from multiple geographies.
- Administered financial controls for assets worth $5+ billion.
- Western Hemisphere
North American General Accounting Manager
Schlumberger
Houston, TX
09.2013 - 01.2015
- Company Overview: Shared Services Center
- I managed the accounting function for the region. Leading a sizable team, I focused on driving process improvements and ensuring high-quality accounting transactions and financial reporting. My duties included overseeing the migration of general accounting tasks for all US and Canadian locations within a specific timeframe and creating process maps for all finance business operations in North America. Additionally, as Global Process Owner, I played a key role in reviewing and implementing changes in the global financial manual related to inventory management.
- Led a high-performing team of 120+ members, enhancing process improvements, accounting transactional work, and financial reporting.
- Managed a team of 120 personnel with 7 direct reports.
- Implemented a complete migration of general accounting tasks across all US and Canadian locations within a 6-month period.
- Developed and executed 15 process maps for all finance business processes for the North American business, resulting in a 20% improvement in efficiency.
- As Global Process Owner, reviewed and updated 50 key changes in the global financial manual for inventory, reducing discrepancies by 25%.
- Spearheaded the consolidation of 8 regional accounting departments into a centralized shared services center, increasing operational efficiency by 30%.
- Oversaw the financial reporting for a portfolio of 200+ projects, ensuring timely and accurate reporting for all stakeholders.
- Managed a budget of $50 million annually for the North American finance operations.
- Supervised the integration of financial systems during the merger of two companies with combined revenues of over $3 billion.
- Improved the reconciliation process for 100+ bank accounts, decreasing errors by 20%.
- Shared Services Center
Geomarket Financial Controller
Schlumberger
01.2011 - 08.2013
- Company Overview: Alaska
- Alaska
Finance Manager, Global Materials Management Projects
Schlumberger
01.2009 - 01.2011
- Company Overview: Dubai, UAE
- Dubai, UAE
Operations Financial Controller
Schlumberger
01.2006 - 01.2009
- Company Overview: Atyrau, Kazakhstan
- Atyrau, Kazakhstan
Consolidation & Reporting Manager
Schlumberger
01.2005 - 01.2006
- Company Overview: Nigeria
- Nigeria
Management Accountant
Schlumberger
, West Africa
06.2000 - 01.2005
- Company Overview: Nigeria & West Africa
- Held roles directly in charge of multiple sub-ledgers (Payroll, Inventory, Fixed Assets, etc.).
Education
MBA -
Wayne State College
Wayne, NebraskaBachelor of Science - Accounting
Obafemi Awolowo University
NigeriaAssociate Chartered Accountant (ACA) -
Institute of Chartered Accountants
NigeriaAdvanced Finance Training -
Wharton Business School
Skills
- FP&A
- Risk management
- Capital budgeting
- Cost reduction
- Adaptability to change
- Mergers and acquisitions
- Strategic planning
- Team leadership
- Technology implementation
References
Available upon request.
Continuous Education
Advanced Finance Training, Wharton Business School
Industries
- Oil & Gas
- Energy Services
- Financial Services
Timeline
VP and Head of Finance
NexTier Completions Solutions
08.2023 - Current
Treasurer & Chief Accounting Officer
NexTier Completions Solutions
01.2022 - 07.2023
Senior Director, Finance Shared Services
NexTier Completions Solutions
10.2019 - 01.2022
Finance Director
Schlumberger
01.2018 - 09.2019
Manager - Finance Operations Integrity & Business Excellence
Schlumberger
01.2017 - 01.2018
General Accounting Manager
Schlumberger
01.2015 - 01.2017
North American General Accounting Manager
Schlumberger
09.2013 - 01.2015
Geomarket Financial Controller
Schlumberger
01.2011 - 08.2013
Finance Manager, Global Materials Management Projects
Schlumberger
01.2009 - 01.2011
Operations Financial Controller
Schlumberger
01.2006 - 01.2009
Consolidation & Reporting Manager
Schlumberger
01.2005 - 01.2006
Management Accountant
Schlumberger
06.2000 - 01.2005
MBA -
Wayne State College
Bachelor of Science - Accounting
Obafemi Awolowo University
Associate Chartered Accountant (ACA) -
Institute of Chartered Accountants
Advanced Finance Training -
Wharton Business School
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