A number of departments and teams at the Home Office are being reorganized to better serve the needs of the company. Jeff Raetz, chief financial officer, has restructured many of the departments that report to him, including accounting and finance, accounts payable, accounts receivable, Break Time accounting, credit, fixed assets accounting, inventory accounting, auditing, Petro-Card 24 services, records and tax.
“We believe the new structure will put MFA Oil in a better overall position with improved internal controls and the checks and balances needed to ensure we don’t run into accounting issues like the ones we discovered this past spring,” Raetz says.
The following is an overview of the new organizational structure:
Treasury
The Treasury team will handle all things related to money. Money coming into the company will go through accounts receivable staff and money going out will be administered by the accounts payable staff. Any questions or issues related to banking should be directed to the treasury team.
James Waddell, senior manager of treasury, will oversee accounts receivable, accounts payable and banking/reconciliation. Gary Tegerdine, accounts payable manager, will report to Waddell along with Veronica Bullock, accounts receivable manager. A cash management and reconciliation accountant will also be hired to work with Waddell.
Accounting Operations
The company is currently conducting a search for a controller that will oversee all aspects of accounting operations. Reporting to the controller will be Barb Oerly, Break Time accounting manager; Jena Schwaller, retail accounting manager; Jim Crane, inventory accounting manager; and Petro-Card 24 staff. Any questions about daily, weekly or monthly accounting should go through the accounting operations group.
General Accounting, Budget and Reporting
Sandy Cryderman, director of general accounting, budget and reporting, will oversee fixed assets, tax, and the company’s general ledger. Reporting to Cryderman will be Kevin Davisson, senior tax manager; Dalten Kliethermes, finance accountant; Melissa Wilson, fixed assets supervisor; and a yet to be named general accounting manager. Cryderman’s team will be generating our monthly financial reporting and handle all questions about the set up of the general ledger; how data hits the general ledger; issues, questions and additions to various accounts; and questions regarding EnterpriseOne (E1) operations.
Business Intelligence and Data Integrity
The company is currently conducting a search for a senior manager to lead this newly created department that will focus on improving the quality of our data and so that it can be better used for business intelligence reporting. The department will be tasked with establishing a data governance committee that will define the company’s data needs. For example, this will include standardizing customer definitions and data requirements for every customer account. This team will also handle all questions that would be posed to the existing business intelligence group.
The records team has been moved from the credit department to this new department to work with business and data integrity analysts. Field support has also been reassigned to this department. Reporting to the senior manager of business intelligence and data integrity will be Lora Sedgwick, records services supervisor, analysts Lona Wood and Jack Goslin, and field support staff.
“We believe the key to our future success is closely tied to our ability to generate accurate and timely data for reporting and analytics,” Raetz says. “The business intelligence and data integrity group will put a much-needed focus on ensuring we have quality data we can use to make informed decisions.”
Credit
The credit department structure will remain the same with the exception of moving the records team to the newly created Business Intelligence and Data Integrity Department. Additionally, Curt Ricks, director of credit and collections, has announced he will be retiring on December 31 and the company has begun the process of seeking his successor.
Information Technology Services
The structure of the existing information technology services teams will remain relatively unchanged with the exception of moving the business intelligence group.
Internal Auditing
Tansy Collier has been named manager of internal auditing and the field auditing team will now report to her. Gary Tinsley, who had been serving as director of internal audit, will be leaving the company on Nov. 1.
“Gary has served the company well during his tenure with MFA Oil and we wish him nothing but the best in his future endeavors,” Raetz says.
Raetz encourages employees who have questions about the reorganization to reach out for answers.