Kelly J. Bengtson

Experience

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  Arthur Andersen LLP

  Sept 1996 - Jun 2000

  Senior Auditor/Staff Auditor

  In this role, I identified and assessed controls and risks for a managed care organization, helped prepare SEC filings, improved the efficiency and effectiveness of business processes, performed compliance testing of key accounting areas, and supervised staff on audit engagements.

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  Nuclear Management Company LLC

  Jun 2000 - Aug 2006

  Internal Audit Manager/Principal Financial Analyst

  Hired to analyze the monthly inventory and lead the ledger system integration, I assisted with year-end audits, partnership returns, and the month-end close, as well as KPI reporting and analysis. I established policies for the integration of 5 companies, created and analyzed budgets, and helped develop the monthly reconciliation and expense reimbursement in SAP.I was promoted to create an internal audit function from inception, including developing the charter, control documentation standards, and testing methodology. In addition, I designed the project plan for internal controls over financial reporting documentation and tested it to comply with Sarbanes-Oxley (SOX) 404. I also oversaw the budget, managed the company’s compliance hotline, supervised and reviewed process control testing, led the quarterly audit committee meetings, and presented to the board of directors. Show less

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  Blue Cross and Blue Shield of Minnesota

  Aug 2006 - now

  In this role, I provide strategic direction and manage the internal audit department, ERM, compliance, operational audits, and special investigations unit. I execute the annual risk-based audit plan and maintain compliance with the financial reporting model regulation (MAR), as well as laws, regulations, and government healthcare requirements. In addition, I promote an ethical work culture, facilitate the ERM framework, and oversee contractual and regulatory reporting and filing, while ensuring objective performance consistent with IIA standards.My work includes managing 5 directors and senior directors, 75 staff, and 4 budgets totaling ~$10.5M. I train on the code of conduct and manage the statement-of-disclosure process for the organization. Additionally, I identify the risks of poorly designed controls, track and document compliance and ethics, predictively model fraud cases, and document investigations.Working closely with the VPs, CEO direct reports, ERM, and audit department, I track and report organizational risks and address audit and compliance issues as a member of the enterprise risk and organizational integrity (cochair) committees. I also oversee QA reviews and ensure IIA audit standards as a member of the QAR oversight committee and collaborate with chief audit executives of the top 10 Blue Cross plans nationwide to share auditing best practices and industry trends. Key Contributions►Transformed compliance into a trusted business partner and improved staff morale and motivation.►Contributed to a $16M settlement for vendor overbilling by leading a 3-year audit of multiple business areas and serving as an expert witness.►Saved $100,000 and improved the quality of the SOC 1 report.►Shortened the timeline for audit findings remediation.►Facilitated cross-functional collaboration companywide.►Created a dashboard to keep senior leaders appraised of current risks and their mitigation status.►Developed a strong team of directors. Show less Overall accountability for the Internal Controls over Financial Reporting (ICOFR) initiative and project success.Develop and maintain project documentation, work plans and project deliverables using standard methodologiesand frameworks.Work with the Vice President of Internal Audit and Risk Management and the Risk & Controls Steering committee to establish project performance goals.Prepare presentation materials and present to Audit Committee, senior leadership and managementregarding status of project plan, deliverables/milestones and results.Plans team member work assignments and schedules, guides and monitors work performance.Develop project communications plan and establishes and maintains effective communicationswith team members, stakeholders and contacts, including executive leadership and the Audit Committee.Estimate resource needs for system updates, staffing levels, communications/training vehicles and other activities impacted by ICOFR initiative.Responsible for coordinating all testing and report issuance for the company's SAS 70 reports. Show less

  • Vice President, Audit and Compliance at Blue Cross and Blue Shield of Minnesota

    Aug 2006 - now

  • Vice President, Internal Audit & Risk Management

    Nov 2013 - Feb 2019

  • Director of Internal Audit and Enterprise Risk Management

    Aug 2006 - Nov 2013