Vendor Risk Manager

Why Wellmark

We are a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we’ve built our reputation on over 80 years’ worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors—our members. If you’re passionate about joining an organization working hard to put its members first, to provide best‑in‑class service, and one that is committed to sustainability and innovation, consider applying today!

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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.

Required:

• 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).

Preferred:

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

• Serve as centralized vendor contact and facilitator in partnership with the Business Vendor Owner (BVO), to manage the vendor relationship, drive innovation, manage risk, compliance, and performance expectations. Communicate and build relationships with assigned vendors and internal stakeholders to ensure they are properly educated on Wellmark’s Vendor Management program and ongoing expectations for vendors throughout the life of the relationship.
• Review and interpret assigned contracts and document relevant contract provisions for monitoring vendors within the Vendor Management program.
• Maintain a working knowledge…