Risk Management Specialist
Job in
Villa Park, DuPage County, Illinois, 60181, USA
Listed on 2026-06-02
Listing for:
BCS Financial Corporation
Full Time
position Listed on 2026-06-02
Job specializations:
-
Finance & Banking
-
IT/Tech
Job Description & How to Apply Below
The Risk Management Specialist plays a strategic role in supporting the Enterprise Risk Management (ERM) function by identifying, assessing, monitoring, and mitigating risks across the organization, with a strong emphasis on insurance industry operations and regulatory requirements. This role supports enterprise-wide risk initiatives, third-party risk oversight, fraud prevention compliance, and regulatory reporting while partnering with business leaders to promote a risk-aware culture.
This position reports to the Director of Enterprise Risk Management.
Essential Elements
Third-Party Risk Management (TPRM)
- Support execution and continuous improvement of the TPRM program.
- Conduct pre-contract due diligence and ongoing vendor risk assessments.
- Facilitate annual vendor reviews and ensure timely remediation of identified issues.
- Administer and maintain vendor risk management systems/platforms.
- Prepare monthly and quarterly vendor risk dashboards and reporting.
- Maintain accuracy and completeness of the vendor inventory database.
- Ensure vendor records remain current and compliant with internal standards.
- Coordinate investigations of suspected fraudulent insurance claims.
- Maintain accurate and detailed investigative documentation.
- Ensure compliance with state anti-fraud regulations and reporting deadlines.
- File required reports with state Departments of Insurance.
- Coordinate annual and new hire fraud awareness training.
- Support enterprise risk assessments, risk identification, mitigation planning, and monitoring activities.
- Maintain enterprise risk registers and supporting documentation.
- Assist with control assessments and issue tracking.
- Develop and maintain dashboards, KRIs, and management reporting.
- Analyze trends and emerging risks for leadership review.
- Assist with ORSA documentation and NAIC-related reporting.
- Review SOC 1 reports and track Complementary User Entity Controls (CUECs).
- Support internal and external audit requests as needed.
- Participate in cross-functional strategic initiatives.
- Identify automation and process improvement opportunities across risk programs.
Education
- Bachelor's degree in Risk Management, Finance, Accounting, Business, or related field required. Equivalent experience considered.
- 0-2 years of experience in enterprise risk management, internal audit, compliance, insurance operations, or related field preferred.
- Experience with third-party risk management, vendor governance, or GRC systems strongly preferred.
- Experience with insurance regulatory environments highly desirable.
- Microsoft Excel, PowerPoint, Word (advanced proficiency preferred)
- Experience with GRC platforms, vendor management tools, or data visualization tools (Power BI preferred)
- Strong analytical and critical thinking skills
- Excellent written and verbal communication
- High attention to detail and organization
- Ability to manage multiple priorities independently
- Strong stakeholder relationship skills
- Less than 10%
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