Karen Thorson

Email: aborgf@r.postjobfree.com

Address: **** ******** **

City: Anchorage

State: AK

Zip: 99504

Country: USA

Phone: 907-***-****

Skill Level: Experienced

Salary Range: 89

Willing to Relocate

Primary Skills/Experience:

See Resume

Educational Background:

See Resume

Job History / Details:

KAREN L. THORSON

E-Mail aborgf@r.postjobfree.com

Personal Objective

To be valued internally, recognized externally and to secure a challenging position in a dynamic environment that will allow me to utilize and further develop my accounting, auditing and analysis skills across a wide spectrum of industries.

Work Highlights & Personal Strengths

Contract Compliance Audit Findings for 2009 @ $18M with actual recoveries @ $5M (27%) Developed a risk ranking matrix and process for crafting the annual contract compliance audit schedule (approx annual contract spend of $2B) in order to maximize/optimize pre-payment review and contract compliance audit efforts. This risk matrix has been adopted by the global operations. Reorganized the contract compliance program and updated the process and procedures for the contract compliance audit manual. Portions of the contract compliance program have been incorporated into global common processes. Identified several areas of spend leakage in the course of auditing and reporting on contract spend; undocumented spend, multiple transaction types, multiple vendor numbers and names and equipment charges. These issues are being worked as individual projects and should yield significant annual savings ($ millions) from tightened controls refined processes. Partnered in the development of a field invoice review process and subsequently developed a training course for line operators which have since been incorporated into required management training courses. Developed real time invoice review process protocol; the first two of which resulted in immediate recoveries of $5M+. Reconciliation reporting on construction projects; spend, overspend, work schedule, change orders, etc. Prepared consolidated financial statements for mid-size corporation and the subsidiaries ($280M) Refined an existing set of automated equity pickup, consolidation elimination entries to streamline month-end close GL; reconciliations, accruals, adjustments, write-offs, support schedules Reconciled, booked and reported corporate portfolio ($70M) Coordinated an annual budget process (budget of $130M) for a mid-size corporation its subsidiaries Reviewed, implemented and/or refined accounting processes subsequent to a major accounting software conversion including a complete redress of the COA and remapping accounts to produce a new set of financial statements Automated a variance reporting process and further refined the cost accounting process Reviewed and improved/refined internal control systems in accordance with SOX to ensure a sound control environment, the proper application of accounting and reporting standards and, proper risk identification in those areas Provided analysis of business trends and opportunities to in-house contract administrators by tailoring financial reports to their specific unique needs in order to provide more pertinent and timely financial and statistical data Major software conversion projects; Oracle, Master Builder, e-Invoicing and several minor software implementations and/or upgrades (team member) (mid-size corporations) Demonstrated ability to prioritize, analyze, communicate, coordinate, negotiate, follow-up and follow-through to completion (in balance with all competing priorities, deadlines or resource time constraints)

WORK HISTORY

BP Alaska / Swift Oil & GAs

Jul 15/03 - Present

900 E Benson

Anchorage, AK 99519

Sr. Contract Compliance Auditor

Develop and employ contract compliance methodology that strives to provide maximum cost savings, and process improvement recommendations that are actionable and measureable; Oversee, train, mentor and manage performance of contract compliance team; Quality assurance for audit reports and management findings; Preparation of rate analysis for major BP vendor contracts Oversee, train, mentor and manage performance of contract compliance team; Prepare annual risk ranking matrix of contract spend and the preliminary audit schedule for BP management approval; Performance reporting on all on-going audit efforts to BP management; Interface with BP Global for common process requirements, reporting and CAPTool conformance; Analyzing complex contracts; understanding each contracts terms, conditions, and intent; Developed performance report, queries (Brio), databases for the audit claims schedule RTVlog Participant in SOX compliance audits ICE team workshops (2004) Contract work - prepared reconciliations as post-audit work, rate analysis and various other projects as required

ASRC Energy Services

Sep 01/05 Nov 01/06

3900 C Street

rAnchorage, AK 99503

Assistant Controller / Financial Reporting Manager

Coordinated month end close process published the monthly un-audited consolidated financials Preparation of budget templates, fin-ops Report, supplemental reports, variance analysis flash reports Reconciliation of GL Accounts associated with the investment accounts, equity retained earnings accounts Rewrote of the equity pickup elimination entries Developed or refined reports, processes, procedures documentation in an effort to strengthen internal controls and reduce the number of journal entries to the GL streamlined month end transactions

AHTNA Government Svcs.

2001-2002

3003 Minnesota

Anchorage, AK99503

Controller

Prepared financial statements and related performance reports. Prepared Work in Progress (WIP), line-of-credit, and bonding reports. Prepared schedules and analyses for independent auditors in connection with year-end audit. Managed small staff and handled all administrative matters. (5 Accounting staff members)

NANA Development Corp.

1999-2002

1001 E. Benson

Anchorage, AK 99508

Senior Accountant

Prepared financial statements and related performance reports. Recorded and reconciled corporate portfolios, joint ventures, and partnership equity entries. Filed state tax returns on ownership interest in the Sag Delta and Endicott oil fields. Prepared the schedules and analyses for independent auditors in connection with year-end audit.

Hoffmann Commercial Inc.

1997-1999

730 I St.

Anchorage, AK 99503

Controller

Prepared consolidated financial statements and statement of cash flow. Handled tax, audit, LOC and insurance matters. Reviewed the monthly Condo Assoc financial statements and management fee charges Compiled information needed for corporate tax returns and acted as a liaison for independent auditors. Managed Accounting Department support staff (15 Accounting staff members)

Education, Software Applications CE Courses

Certified Internal Accounting, Course Study

Strategic Sourcing Vendor Management, Course Study

Management Accounting, Course Study

Bachelor of Business Science, Accounting (Cum Laude), University of Alaska Associate of Applied Science, (Summa Cum Laude), ACC/UAA

Microsoft Word, Works, Excel, PowerPoint, Visio, Access, ADI, Brio, Discoverer, E-Acctg, SAP, Passport, Master Builders, QuickBooks Pro, Peachtree, Great Plains, Navision. CE; Strategic Cost Mgmt 07, ORACLE 06, Adv Audit IC Issues 05

Transcripts, Written Professional and Academic References Available Upon Request

Contact this candidate