Gunderson served as president of the Institute of Chartered Accountants of Alberta in 1936.[1] He was first elected to the assembly in a 1952 by-election held after Harry Denyer Francis resigned his seat to allow Gunderson to run for a seat in the assembly.[2] Gunderson served briefly in the provincial cabinet as Finance Minister. Although he was unsuccessful when he ran for reelection in the general election held in 1953 and a subsequent by-election later that year,[3] Gunderson continued to serve as financial adviser to W.A.C. Bennett's government.[4] He also served as vice-president of the Pacific Great Eastern Railway and as a director of the British Columbia Toll Bridge and Highways Authority, of the Canadian Bank of Commerce, of Black Ball Ferries Ltd. and of Deeks-McBride Ltd., a cement and gravel supply company.[5] Gunderson was a member of the board of governors for the University of British Columbia from 1957 to 1968.[6] In 1967, he was named provisional chairman of the Bank of British Columbia.[7] Gunderson also served on the board of directors for BC Hydro until the NDP came into power in 1972; he was removed from the board of directors of BC Rail at the same time.[8] He died in Vancouver at the age of 80 in 1980.[9]