Vendor Risk Manager

Wellmark, Inc.•Des Moines, IA

5d•Hybrid

About The Position

Responsible for supporting the Wellmark vendor risk management program by performing due diligence and ongoing risk monitoring and remediation to ensure vendor assessments are complete and meet company standards, risk appetite, and applicable regulatory and/or government program requirements. While adhering to Wellmark's Vendor Risk Management guidelines through the execution of policies & procedures, ensures the appropriate due diligence and risk oversight is performed for Wellmark’s critical vendors throughout the full vendor lifecycle from on-boarding through termination. Works closely with technical and business vendor owners across the organization to facilitate and review vendor risk assessments and contractual compliance.

Requirements

Bachelor’s degree in related field or direct and applicable work experience in third-party risk management, sourcing, procurement, or enterprise risk management, or a heavily regulated industry (such as insurance, financial services, banking, etc.).
Minimum 2 years of experience managing relationships such as vendor management, account management and/or risk management, including conducting initial and ongoing vendor due diligence, risk assessments, and recommending risk mitigation strategies in accordance with company policies and procedures.
Minimum of 1-year of procurement and contract administration experience.
Prior experience creating and defining processes and developing metrics to measure impact. Ability to learn new technology and tools quickly.
Strong collaboration and interpersonal skills with the ability to quickly build relationships focused on collaboration and trust. Demonstrated ability to develop and maintain high-performance relationships with internal and external stakeholders and customers with the ability to influence without authority and communicate upward and across divisions.
Demonstrated ability to exhibit a risk management mindset, one focused on overall risk assessments with the ability to think critically to assess details and the big picture to recommend risk mitigation strategies.
Possess excellent written and verbal communication skills with experience developing presentations and presenting to others including up to the executive level within an organization.
Ability to solve problems, develop solutions, and proactively partner to assist business leaders in achieving financial and performance goals and objectives and drive results.
Must be self-motivated and have a sense of urgency, and is flexible and adaptable to change, with the ability to see what needs to be done and take action to ensure successful and timely accomplishments of business needs.
Proficient in Microsoft Office (Word, Excel, and Power Point).

Nice To Haves

Bachelor’s degree.
Certified Third-Party Risk Professional (CTPRP) or Certified Third-Party Risk Assessor (CTPRA).
Prior experience in Health Insurance industry.

Responsibilities

Analyze, define, and validate business requirements for highly complex projects/initiatives to proactively minimize errors and manual interventions resulting in desired member and stakeholder experiences.
Develop, maintain, and analyze document databases and produce required management reports (e.g. centralized repository).
Provide consultation and consultative review associated with initiatives pre and post implementation across all market segments, applications, and processes to ensure the timely delivery of outcomes through business requirements and the execution of test cases.
Lead point of contact and liaison between technology and document services for customer impacts stemming from application and system process disruptions. Maintain positive working relationships with vendors and business stakeholders; ability to consult and influence internal decision makers and vendor liaisons.
Lead cross-functional projects/initiatives by collaborating and coordinating with team members, technology, and stakeholders in determining best practices for process improvement to align outcomes with member and stakeholder expectations.
Keep informed, support, and adhere to regulations ensuring systems and processes are compliant with corporate policies, procedures, and legal requirements.
Actively and consistently provide coaching, mentoring, and sharing of knowledge to team members while factoring in different learning styles and skillsets.
Collaborate across stakeholders to confirm desk-level procedures and process/system documents are created/updated. Provide management & coordination of daily vendor support to internal stakeholders to ensure all services meet contractual and stakeholder requirements. Ensure vendors provide accurate and timely projects and change request estimates. Will then analyze estimates and consult with stakeholders to ensure all business requirements are covered and clearly defined.
Produce high-level requirements (HLR) and/or detailed business requirements (DBR) and provide SME support to corporate projects. Provide cross-divisional project management and subject matter expertise for compliance requirements, new product rollouts and vendor integration projects.
Lead and mentor in the development and creation of print and interactive web form designs for internal/external stakeholders and project teams. Will design and manage electronic and corporate forms, envelopes, check, etc. by analyzing utilization and projection data and working with internal and external stakeholders and outsourcing vendors.
Ensure the design of corporate forms complies with all USPS postal, Blue Cross Association, and other appropriate regulations.
Ensure accurate tracking of all hours in reporting system(s) for all work efforts.
Other duties as assigned.