Risk Management Specialist

Position Overview

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.

• Vendor Inventory Management Maintain accuracy and completeness of the vendor inventory database. Ensure vendor records remain current and compliant with internal standards.

• Special Investigations Unit (SIU) Coordination 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.

• Enterprise Risk Management Support 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.

• Risk Reporting & Analytics Develop and maintain dashboards, KRIs, and management reporting. Analyze trends and emerging risks for leadership review.

• Compliance & Regulatory Support 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.

• Continuous Improvement / Projects Participate in cross-functional strategic initiatives. Identify automation and process improvement opportunities across risk programs.

Requirements

• Education Bachelor’s degree in Risk Management, Finance, Accounting, Business, or related field required. Equivalent experience considered.

• Experience 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.

Skills

• 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

Travel

Required Less than 10%