Kelly Bergquist
Bismarck,ND
Summary
Forward-thinking individual with great understanding of the audit cycle. Offering more than 20 years of expertise in auditing, accounting and finance. Knowledgeable in GAAP and internal control auditing.
Overview
21
21
years of professional experience
Work History
Internal Auditor IV
MDU Resources
02.2024 - Current
- Audit planning, internal control testing and audit report writing (observations and recommendations).
- Tested various processes at ESI, Corporate Reporting, Proxy and Sustainability Report.
- Scheduled to test Segregation of Duties and User Access this fall as well and CSG Spin related audits.
- Familiar with Spectrum and UKG.
Compliance Accountant
North Dakota Housing Finance Agency
08.2023 - 02.2024
- Research and monitor regulations and determine impact to Agency
- Assist with documenting compliance procedures for new grants
- Select and review loans for compliance.
Manager of Investor Relations and Financial Analytics/Senior Financial Analyst
Basin Electric Power Cooperative
08.2016 - 07.2023
- Prepare investor presentations and present in investor calls (new debt issuances)
- Prepare credit rating updates and present in credit rating update meetings with S&P, Moody’s and Fitch
- Prepare/review quarterly debt compliance calculations required by debt covenants
- File/send all quarterly debt compliance deliverables
- Review actively managed accounts and ensure compliance with Investment Manual (Asset Allocation, Security Type, Security Mix, Maturity and Credit)
- Participate in calls with Investment Managers and discuss investment strategies
- Present to Senior Management and Board of Directors
- Model economics of special projects with strict deadlines
- Assist with financing needs.
Senior Internal Auditor
Basin Electric Power Cooperative
- Updated risk register to reflect current corporate financial, operational, strategic and compliance risks
- Worked with management to document mitigation plans to individual risks
- Presented risks/mitigation plans to senior management
- Plan, test, communicate audit results and provide written report
- Provide recommendations and follow up on findings and perform substantive testing
- Provide training and oversight to entry level auditors
- Test compliance with company commodity risk policies and NERC standards
- Test internal controls over financial statements.
Financial Analyst III
WBI Energy, Inc.
11.2014 - 08.2016
- Documented new business line processes for SOX purposes (Narratives, Control Templates and Flow Chart)
- Performed walk-throughs with Deloitte on the design effectiveness of the new business line Control Framework
- Perform Management Control testing for various SOX processes
- Updated testing results and log any deficiencies
- Prepared 2014 WBI Holdings Footnotes
- Monthly prepared the Cash Flow Statement
- Reviewed Quarterly disclosures: Debt Compliance calculations, Related Party Transactions, Purchase Commitments and Rent expense and Operating Leases
- Prepared Quarterly disclosures: Balance Sheet Analysis, Current Assets and Litigation and Reserves
- Performed contract review for any back office reportable/recordable transactions
- Provided responses to (potential) quarterly investor questions on the Refinery.
Manager of Commodity Risk
Basin Electric Power Cooperative
08.2013 - 11.2014
- Negotiated contracts: ISDA, NAESB and the Credit Support Annex
- Reviewed counterparty credit evaluations, set counterparty limits and negotiate collateral limits
- Worked with Front and Back Office on any pricing/valuation questions
- Ensured counterparties Mark-to-Market valuations are reasonably accurate
- Reviewed any confirmation questions
- Middle Office confirms natural gas, power and financial hedge transactions
- Monthly presented risk reports to the Board of Directors and to the RMSC (Risk Management Steering Committee)
- Managed/trained four analysts
- Reviewed hedging strategies.
Commodity Risk Analyst
Basin Electric Power Cooperative
- Similar responsibilities as above, but more in an assisting and preparing role than a reviewing and presenting role.
Internal Auditor III
MDU Resources Group, Inc.
06.2012 - 08.2013
- Reviewed the design and effectiveness of internal controls
- Compiled and report audit findings and suggestions that get communicated to management and external auditors
- Worked with management on resolutions to audit findings and suggestions
- Planed and performed testing of compliance and financial statement audits
- Performed financial statement analytical reviews.
Finance Manager
Black Hills Corporation
05.2007 - 06.2012
- Recorded accounting of gas hedges executed at the Utilities to manage commodity price increases
- Reviewed mid office functions of execution of gas hedges ensuring the executed contracts agree to the resource plan and the marketer's confirmations
- Reviewed the accounting for interest rate swaps and perform quarterly effectiveness testing
- Prepared financial covenant ratios and compliance certificates, and distributed to lenders ensuring that BHC is in compliance with debt agreements
- Assisted in financing activities - compiled/verified accuracy of schedules
- Compiled and validated debt costs for Utility filings and FERC FORM 1
- Assisted in preparation of rating agency presentations
- Helped create and present financial acumen class for operations employees to better understand coding of expenditures and financial terms and strategies
- Managed/trained two financial analysts.
Financial Analyst
Black Hills Corporation
- Performed margin calls, record and verify accuracy of trade execution of futures and swaps for gas hedging program for our gas utilities
- Performed mid office functions of execution of gas hedges ensuring the executed contracts agree to the resource plan and the marketer's confirmation
- Assisted in debt compliance tracking, record keeping and reporting
- Recorded interest accruals, deferred financing costs and perform reconciliations of these accounts
- Prepared the accounting for interest rate swaps, used to manage interest rate increases.
Internal Auditor II
Black Hills Corp
- Tested the design and operating effectiveness of internal controls – SOX 404 for various different BHC subsidiaries and processes
- Documented processes for new companies (Aquila) and ensure control environment is designed effectively
- Tested compliance with company risk polices, FERC, NERC and middle office functions at Enserco Energy, a subsidiary of BHC that markets oil and gas.
Accountant
Campbell, Burkart & Sage, CPA’s P.C.
09.2004 - 04.2007
- Prepared financial statements cash and income tax basis
- Prepared compilations for construction, retail and service industries
- Prepared quarterly and year end payroll tax reports and forms
- Adjusted Corporate and Partnership year end books and complete tax return
- Prepared individual tax returns
- Performed tax planning.
Accountant
Michael C. Parke, CPA, CFP
08.2003 - 06.2004
- Prepared individual tax returns
- Tracked stock performance on various companies.
Education
Bachelor of Science, Accounting -
Dickinson State University
Dickinson, North Dakota05.2003
Bachelor of Science, Business Administration -
Dickinson State University
Dickinson, North Dakota05.2003
Skills
- Certified Public Accountant
- Present to Board of Directors
- Internal Controls analysis and documentation
- Audit Planning
- Data Analytics
- Control testing
- Enterprise risk management
- Report findings and recommendations
References
Kellie Erhardt
Internal Audit Director of MDU Resources
701.498.9950
Stephanie Sievert
Vice President, Chief Accounting Officer and Controller of MDU Resources
701.391.4410
Steve Johnson
Former Basin Electric Power Cooperative SVP and Chief Financial Officer
701.471.4313
Susan Sorensen
Former Basin Electric Power Cooperative VP & Treasurer
701.226.9684
Awards
- 2016 1st Quarter Einstein Award Winner at WBI Energy, Inc.
- Inducted into Who’s Who Among American College Students
- Inducted into Sigma Beta Delta – International Honor Society in Business, Management & Admin
Timeline
Internal Auditor IV
MDU Resources
02.2024 - Current
Compliance Accountant
North Dakota Housing Finance Agency
08.2023 - 02.2024
Manager of Investor Relations and Financial Analytics/Senior Financial Analyst
Basin Electric Power Cooperative
08.2016 - 07.2023
Financial Analyst III
WBI Energy, Inc.
11.2014 - 08.2016
Manager of Commodity Risk
Basin Electric Power Cooperative
08.2013 - 11.2014
Internal Auditor III
MDU Resources Group, Inc.
06.2012 - 08.2013
Finance Manager
Black Hills Corporation
05.2007 - 06.2012
Accountant
Campbell, Burkart & Sage, CPA’s P.C.
09.2004 - 04.2007
Accountant
Michael C. Parke, CPA, CFP
08.2003 - 06.2004
Senior Internal Auditor
Basin Electric Power Cooperative
Commodity Risk Analyst
Basin Electric Power Cooperative
Financial Analyst
Black Hills Corporation
Internal Auditor II
Black Hills Corp
Bachelor of Science, Accounting -
Dickinson State University
Bachelor of Science, Business Administration -
Dickinson State University
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