Wellmark Blue Cross Blue Shield Vendor Risk Manager in Des Moines, Iowa
What's the role? As theVendor Risk Manager, you will be responsible for developing, overseeing, and maintaining vendor risk and relationships in collaboration with internal and external parties. This position will have accountability for corporate risk mitigation oversight over assigned Wellmark vendors including, but not limited to, overseeing contractual compliance, building positive relationships with vendor contacts, monitoring and reporting, as well as measuring vendor performance. You will collaborate and consult with business stakeholders seeking input and participate in the vendor management process. You will also assist with managing and monitoring vendors covered by government programs and/or regulatory bodies.
What does it take to make the cut? At least two years of experience managing relationships and a minimum of one year of experience serving in a procurement or contract administration capacity. Ideal candidates must exhibit a global/strategic mindset with a demonstrated history of maintaining collaborative and high-performance relationships. To be successful in this role, you will be expected to think proactively, operate with a sense of urgency, and possess the ability to influence others without authority.
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!
Bachelor’s Degree in related field or direct and applicable work experience in insurance, financial services, banking, or another heavily regulated industry.
Minimum of 2 years’ 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.
Strong collaboration and interpersonal skills with the ability to quickly build relationships focused on collaboration and trust.
Must exhibit a risk management mindset, one focused on overall risk assessments with the ability to recommend risk mitigation strategies
Ability to solve problems, develop solutions and assist the business leaders in achieving their financial and performance goals and objectives. Demonstrated ability to develop and maintain high-performance relationships with internal and external stakeholders and customers.
Possess excellent written and oral communication skills and be a self-starter.
Must show an ability to effectively establish thriving working relationships with all stakeholders, both internally and externally.
Demonstrated ability to influence without authority and communicate upward and across divisions.
Ability to think strategically and pro-actively partners with the business to drive results.
Must be self-motivated and have a sense of urgency, 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)
Flexibility to work within a complex organization and the ability to partner with all levels in the business.
Prior experience creating and defining processes and developing metrics to measure impact.
Proficient in Microsoft Office (Word, Excel, and Power Point)
Prior experience in Health Insurance
a. Develop, oversee, and maintain vendor relationships with assigned third party vendors. Assist the business vendor owner with management of the relationship for assigned vendors, including monitoring of overall performance and mitigation of identified risks. This includes, but is not limited to, overseeing and creating risk mitigation strategies and performance management plans for vendors, while seeking input and participation in the vendor management process from all stakeholders within Wellmark and escalating as necessary.b. Assist in and facilitate the management and monitoring of vendors that are covered by government programs or regulatory bodies.Fulfill Blue Cross Blue Shield Association requests and/or requirements, as applicable.c. In collaboration with internal stakeholders and department peers, assess vendor criticality and risk presented by the vendor relationship, and escalate according to program policies.Based on the identified criticality and risk potential, provide ongoing monitoring and remediation of contractual compliance and organizational risk related to the vendor relationship.d. Assist in the development and deployment of tools e.g., vendor management sites or systems, vendor scorecards, communication templates, training, etc. to monitor and manage vendor performance and risk based on established criteria. Provide ongoing vendor scorecard reporting and analysis to internal and external parties to facilitate adequate monitoring, review, and followup on vendors operational performance and contractual compliance.e. Work collaboratively with department peers and internal stakeholders to ensure SLAs, deliverables, compliance requirements and expectations are adequately incorporated into RFxs and all appropriate vendor contracts.f. Communicate with assigned vendors and internal stakeholders to ensure they are properly educated on Wellmarks Vendor Management program and ongoing expectations for vendors throughout the life of the relationship.g. In conjunction with Contract Administration and Sourcing, consult and act as liaison to perform contract summary reviews with internal stakeholders and to reinforce or revise contract provisions for optimal management of the respective vendor. Provide internal parties with appropriate documentation to ensure ongoing due diligence and that vendors remain in compliance with stated terms and conditions.h. Responsible for the execution of Vendor Management program elements, such as periodic business reviews, vendor reviews, and scorecards, including other performance management activities, risk mitigation plans, and reporting to the Vendor Management Steering Committee, as required.i. Demonstrates understanding of vendor management concepts and implementation technique including vendor governance and performance monitoring.j. Advocate and educate by serving as an ambassador for Vendor Management and Procurement Services. Assist with the investigation of new opportunities and leverage technology solutions in order to improve the efficiency and/or effectiveness of vendor management processes. Participate on project teams to identify areas for process improvement.k. Other duties as assigned.