Director Enterprise Risk Management

Premera Blue Cross•Mountlake Terrace, WA

4d•Hybrid

About The Position

Our purpose, to improve customers’ lives by making healthcare work better, is far from ordinary. And so are our employees. Working at Premera means you have the opportunity to drive real change by transforming healthcare. To better serve our customers, we are fostering a culture that emphasizes employee growth, collaborative innovation, and inspired leadership. We are dedicated to creating an environment where employees can excel and where top talent is attracted, retained, and thrives. As a testament to these efforts, Premera has been recognized on the 2025 America's Dream Employers list. Newsweek honored Premera as one of America's Greatest Workplaces, America's Greatest Workplaces for Inclusion, and America's Greatest Workplaces For Mental Well-Being, Forbes ranked Premera among America’s Best Midsize Employers for the fourth time. Learn how Premera supports our members, customers and the communities that we serve through our Healthsource blog: https://healthsource.premera.com/. We are seeking a talented Director, Enterprise Risk Management to direct and provide oversight of risk management efforts across the organization. This impactful role will be part of Premera’s strategy to not only manage risk but also take the right risks as we continue our journey to make healthcare work better. In this role, your leadership will… Impact Premera’s overall strategy by helping leaders take an integrated, informed, and strategic approach to risk: Demystify risk across the organization by executing holistic ERM assessments and advise both divisional and C-suite leadership on enterprise risks and their impact on the company’s goals. Embed ERM practices throughout the enterprise, empowering the company to achieve strategic business objectives and operational excellence Provide insight and partner closely with divisional leaders to implement strategic enterprise risk monitoring and reporting systems. Build methodology and manage the risk governance structure and oversight framework. As a strategic partner, proactively identify emerging risks and collaborate with business leaders to identify thoughtful solutions and opportunities. Reduce organizational risk by thoughtfully managing multiple insurance programs. Oversee multiple comprehensive, commercial insurance programs. Manage day-to-day operations for a captive insurance company, together with the external broker.

Requirements

Bachelor's degree (Required)
Ten years of risk management, compliance, or audit experience (Required)

Nice To Haves

Four years of experience leading an ERM program
Four years of experience leading a corporate insurance program, including captive insurance.
Medical, Financial Services, and/or insurance industry experience

Responsibilities

Advise and support the Chair of the Enterprise Risk Management Committee in Enterprise Risk Management (ERM) program efforts, including facilitating ERM risk assessment, identification of mitigating controls, and/or monitoring, as needed.
Facilitate high-level meetings across all areas of the company to gather ERM data, build ERM assessments, and discuss ERM status and planned enhancements.
Partner with business leaders to implement and apply risk management processes to help them achieve organizational and department objectives
Implement a reporting methodology leveraging technology for concise risk reporting, dashboards, and metrics for each of the lifecycle stages, namely Risk Identification, Risk Assessment, Risk Reporting and Risk Monitoring.
Facilitate the development, implementation, and maintenance of the policies, standards, guidelines, and procedures to support a risk management framework.
Identify the methods used in measuring operational risk, including assisting management in the development of Enterprise Risk Management (ERM), key risk indicators (KRI), and best practices in monitoring and reporting operational risk.
Oversee and/or deliver ERM-related regulatory reports, including the annual Own Risk and Solvency Assessment (ORSA) report, presentations for credit rating agencies, contributions to the Form F and CGAD and responses to ad hoc inquiries from regulators and/or clients.
Provide leadership on all aspects of the company’s corporate insurance portfolio, including designing, implementing, and managing Premera’s insurance programs.
Develop risk mitigation strategies using procured commercial and captive insurance as cost-effective risk transfer mechanisms.
Develop and maintain relationships with the company’s insurance brokers and act as the primary point of contact for commercial transactions relating to insurance.
Manage the procurement of the insurance coverage portfolio, including the renewal cycle strategy for all lines of coverage working with brokers.
Direct the administration of insurance claims to ensure timely and accurate reporting, analysis, and resolution.
Lead day-to-day operations of Premera’s captive insurance company, including strategic planning, business operations, regulatory compliance, and financial management. Includes ownership of the vendor relationship with an insurance broker providing outsourced support for various captive-related activities.

Benefits

Medical, vision, and dental coverage with low employee premiums.
Voluntary benefit offerings, including pet insurance for paw parents.
Life and disability insurance.
Retirement programs, including a 401K employer match and, believe it or not, a pension plan that is vested after 3 years of service.
Wellness incentives with a wide range of mental well-being resources for you and your dependents, including counseling services, stress management programs, and mindfulness programs, just to name a few.
Generous paid time off to reenergize.
Looking for continuing education? We have tuition assistance for both undergraduate and graduate degrees.
Employee recognition program to celebrate anniversaries, team accomplishments, and more.
For our hybrid employees, our on-campus model provides flexibility to create your own routine with access to on-site resources, networking opportunities, and team engagement.
Commuter perks make your trip to work less impactful on the environment and your wallet.
Free convenient on-site parking.
Subsidized on-campus cafes make lunchtime connections with colleagues fun and affordable.
Participate in engaging on-site activities such as health and wellness events, coffee connects, disaster preparedness fairs and more.
Our complementary fitness & well-being center offers both in-person and virtual workouts and nutritional counseling.
Need a brain break? Challenge someone to a game of shuffleboard or ping pong while on campus.