Job Information
Blue Cross Blue Shield of Massachusetts Vice President of Enterprise Risk Management in Boston, Massachusetts
Ready to help us transform healthcare? Bring your true colors to blue.
Reporting to the Senior Vice President of Risk and Audit Management, the Vice President of Enterprise Risk Management provides leadership to ensure the optimal design and alignment of all risk management functions in support of Blue Cross and Blue Shield’s (BCBSMA’s) mission, vision and values. Serves as a key executive leader and strategic advisor on risk management across the enterprise. Leads the development and implementation of a risk management vision that delivers strategic thought and partnership across the enterprise. Develops risk management programs that are designed to identify, eliminate or reduce, and insure against potential risks to BCBSMA and its related entities and customers.
Essential Duties & Responsibilities:
Develop BCBSMA’s Enterprise Risk Management strategy and objectives.
Work closely with senior executives to understand and manage enterprise strategic, financial, and operational, risks
Develop, implement, and oversee various risk management vehicles as they evolve from time to time including, but not limited to, the current corporate liability insurance portfolio and a Vermont domiciled captive insurer.
Lead corporate resiliency and preparedness through, among other things, a robust business continuity and disaster readiness program and crisis management response plan.
Lead Third Party/Vendor Security Risk assessment program and related traditional Governance, Risk, and Compliance (“GRC”) program.
Define and develop standards, processes and policy for the evaluation of risk across the enterprise to ensure the organization operates within stated policies.
As a member of the senior management team, participates in company-wide strategic planning, policy formulation, and budgeting.
Present strategy, objectives and other deliverables to the Board of Directors and Senior Management.
Represent the SVP Audit and Risk at internal and external venues including but not limited to with the Division of Insurance
Provide independent and objective risk assessments to executive management, the Board of Directors, BCBS Association and state/federal regulatory agencies as required.
Monitor major and critical risk issues including frequent reporting of outstanding exception items and timeframe for remediation to senior management and board of directors
Create a comprehensive risk-based audit approach that is responsive to BSBC’s internal control, financial and operational risks and reflects a thorough understanding of the company’s business and operations and the changing regulatory environment.
Lead the execution of complex projects, anticipating and providing solutions to complex issues, and allocating and coordinating the necessary resources.
Continue to enhance the company’s risk appetite and limit; structure risk assessment and internal auditing processes relative to best and leading practices.
Establish and maintain effective working relationships with senior management and influences appropriate action across the organization to increase the likelihood of achieving operational objectives and minimizing risks.
Serve as the day-to-day internal business partner, consultant, subject matter expert, and resource for employees in all departments regarding specific situations or transactions not covered by existing procedures and standards.
Performs management duties including, but not limited to: hiring, training, evaluating, coaching, and developing direct reports. Fosters a positive and engaging work environment. Mentors associates and gives guidance on associate development
Work with senior stakeholders within the business divisions, strengthening and developing the risk framework and its individual components
Oversee contemporary reporting that informs Senior Leadership
Remain current on business drivers, regulatory and industry changes impacting the business, identify new or emerging risks to which the business is exposed.
Create meaningful partnership with Operations team (IT and Claims) to including consistent participation in staff meetings and other business meetings and forums.
Qualifications:
Highly credible risk professional with strong financial acumen.
A seasoned business leader with 15+ years’ experience including experience in Risk Management within the health insurance industry.
Successful leadership of major risk assessments resulting in successful outcomes.
Knowledge of Hi-Trust preferred
Extensive knowledge of health insurance industry and products preferred.
Extensive knowledge and experience with compliance policies, regulations, and procedures.
Knowledge of state-of-the-art proactive auditing approaches.
Education:
Bachelor’s degree required (Accounting/Finance/Risk Management preferred).
Master’s degree preferred.
One or more of the following certifications preferred:
Certified Internal Auditor (CIA)
Certification in Control Self-Assessment (CCSA)
Minimum Education Requirements:
High school degree or equivalent required unless otherwise noted above
LocationBostonTime TypeFull time
Salary Range: $255,600.00 - $312,400.00
The job posting range is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. An employee’s pay position within the salary range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, performance, shift, travel requirements, sales or revenue-based metrics, and business or organizational needs and affordability.
This job is also eligible for variable pay.
We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and a suite of well-being benefits to eligible employees.
Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.
WHY Blue Cross Blue Shield of MA?
We understand that the confidence gap (https://www.theatlantic.com/magazine/archive/2014/05/the-confidence-gap/359815/) and imposter syndrome (https://www.braintreepayments.com/blog/overcoming-imposter-syndrome/) can prevent amazing candidates coming our way, so please don’t hesitate to apply. We’d love to hear from you. You might be just what we need for this role or possibly another one at Blue Cross Blue Shield of MA. The more voices we have represented and amplified in our business, the more we will all thrive, contribute, and be brilliant. We encourage you to bring us your true colors, , your perspectives, and your experiences. It’s in our differences that we will remain relentless in our pursuit to transform healthcare for ALL.
As an employer, we are committed to investing in your development and providing the necessary resources to enable your success. Learn how we are dedicated to creating an inclusive and rewarding workplace that promotes excellence and provides opportunities for employees to forge their unique career path by visiting our Company Culture (https://careers.bluecrossma.org/us/en/culturepage) page. If this sounds like something you’d like to be a part of, we’d love to hear from you. You can also join our Talent Community (https://careers.bluecrossma.org/us/en/jointalentcommunity?applyType=JTC) to stay “in the know” on all things Blue.
At Blue Cross Blue Shield of Massachusetts, we believe in wellness and that work/life balance is a key part of associate wellbeing. We provide a flexible hybrid work model in which roles are designated as resident (on site 4-5 days/week), mobile (on site 1-3 days/week), or eworker (on site 0-3 days/month).
Voted as the highest in member satisfaction among Massachusetts commercial health plans by JD Power , Blue Cross Blue Shield of Massachusetts is a community-focused, tax-paying, not-for-profit health plan headquartered in Boston. We have been a market leader for over 75 years, and are consistently ranked among the nation's best health plans. Our daily efforts are dedicated to effectively serving our 2.8 million members, and consistently offering security, stability, and peace of mind to both our members and associates.
Our Commitment to You
We are committed to investing in your development and providing the necessary resources to enable your success. We are dedicated to creating a refreshing and rewarding workplace that promotes excellence and provides opportunities for employees to forge their unique career path. We take pride in our diverse, community-centric, wellness-focused culture and believe every member of our team deserves to enjoy a positive work-life balance.
Blue Cross Blue Shield of Massachusetts is an Equal Employment / Affirmative Action Employer. Applicants are considered for all positions without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or expression, or any other characteristics protected by law.
Blue Cross Blue Shield of Massachusetts will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with Blue Cross Blue Shield of Massachusetts's legal duty to furnish information.