Lead Risk Management Analyst

2 weeks ago


Reston, Virginia, United States CareFirst BlueCross BlueShield Full time
Responsibilities & Qualifications

OBJECTIVE:
The Senior Risk Management Analyst plays a crucial role in supporting, facilitating, and educating team members on operational risk initiatives aimed at identifying and mitigating risks. This includes managing controls and safeguards to reduce the impact of potential and existing risks on the organization, ensuring compliance with applicable laws, regulations, standards, policies, and organizational frameworks, as well as monitoring and addressing identified issues.

KEY FUNCTIONS:
  • Offer advisory assistance in conducting divisional risk evaluations. Guide and support team members in completing third-party risk assessments and control self-assessments to verify the effectiveness of existing controls, including tracking, monitoring, and managing identified issues. Maintain documentation for reproducibility, utilizing the Governance Risk and Compliance (GRC) tool and repository (e.g., Compliance 360). Contribute to a repository of best practices and tools related to third-party risk assessments, operational risk evaluations, and control self-assessments.
  • Collaborate with business leaders across the organization to act as the subject matter expert in identifying issues and concerns, providing appropriate support, and proactively recognizing opportunities for risk management, control efficiency, and process enhancements to foster a robust enterprise risk culture. Monitor evolving risks and threats within the centralized risk register, including third-party risks, and work with business leaders to track risk mitigation strategies.
  • Assist in maintaining a centralized repository for third-party relationships, including accountable business owners, inherent risk, and tier classification for each respective third-party relationship. Ensure compliance with the Third Party Risk Management (TPRM) framework and standards, confirming that controls related to data protection, privacy, and access meet corporate standards and risk appetite. Support due diligence on third-party controls both corporately and with the third party, collaborating with subject matter experts across relevant risk domains to assess the residual risk of third-party relationships.
  • Engage with internal teams and key subject matter experts across all relevant risk domains to define and establish frameworks (e.g., Compliance, Risk Assessment, Risk Governance) and key data element definitions. Maintain frameworks to align with industry standards (e.g., HIPAA, NIST, HITRUST). Contribute to the creation of enterprise-wide training and awareness materials that educate team members and leadership on best practices, prevalent operational risk management issues, risk management tools and processes, and lessons learned.
  • Assist in ensuring compliance with the established Common Compliance Framework (CCF). Contribute to the development of enterprise reporting and dashboards for monitoring and analyzing process-level risks, controls, issues, risk management, and compliance activities.
SUPERVISORY RESPONSIBILITY:
This position does not have direct reports but is expected to guide and mentor less experienced staff. May lead a team of matrixed resources.

QUALIFICATIONS:

Education Level: Bachelor's Degree OR, in lieu of a Bachelor's degree, an additional 4 years of relevant work experience is required in addition to the required work experience.

Experience: 5 years of experience in risk management, third-party risk management, audit, compliance, security governance, or legal services.

Preferred Qualifications:
  • Experience in the health insurance industry; specific expertise in successful organizational risk management and compliance management environments.
  • Experience with HIPAA compliance and privacy.
  • Possession or pursuit of a relevant risk or business certification (e.g., CRCMP, CIA, CISA, CISM).
Knowledge, Skills, and Abilities (KSAs):
  • Proficient in conducting independent assessments, including compliance and legal reviews, contract evaluations, control testing, and developing and reviewing assessment reports.
  • Effective problem solver who can work independently and collaboratively, demonstrating strong interpersonal skills, including excellent oral and written communication abilities.
  • Understanding of general project management skills relevant to performing assessment functions and responsibilities.
  • Exhibits considerable judgment, tact, initiative, accuracy, trustworthiness, and integrity.
Salary Range: $73,152 - $145,288

Salary Range Disclaimer

The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the work is being performed. This compensation range is specific and considers factors such as (but not limited to) the scope and responsibilities of the position, the candidate's work experience, education/training, internal peer equity, and market and business considerations. It is not typical for an individual to be hired at the top of the range, as compensation decisions depend on each case's facts and circumstances, including but not limited to experience, internal equity, and location. In addition to your compensation, CareFirst offers a comprehensive benefits package, various incentive programs/plans, and 401k contribution programs/plans (all benefits/incentives are subject to eligibility requirements).

Department

Compliance and Privacy

Equal Employment Opportunity

CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.

Federal Disc/Physical Demand

Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.

PHYSICAL DEMANDS:

The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key, and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.

Sponsorship in US

Must be eligible to work in the U.S. without Sponsorship.

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