EMC Insurance Companies · 5 days ago
Supplier Risk Management Consultant
Des Moines, IA
Full-time
Remote
Senior Level
$90K/yr - $116K/yr
7+ years exp
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Responsibilities
Develops and implements a comprehensive supplier risk assessment framework to manage and mitigate risks associated with suppliers.
Leads thorough risk assessments during the onboarding of new suppliers and ongoing monitoring of existing ones, ensuring appropriate due diligence documents are reviewed and stored appropriately.
Designs and leads control measures to enhance risk mitigation throughout the supplier lifecycle and coordinate with various business units to address identified risks.
Assists in selecting, implementing and maintaining supplier risk management software and other technology tools to streamline processes.
Develops key performance indicators and reporting mechanisms to monitor the program’s effectiveness, providing documentation and analysis of risk assessments and mitigation strategies.
Updates and enforces policies and procedures to ensure compliance with industry standards and regulatory requirements.
Provides training and guidance to internal stakeholders.
Monitors and evaluates effectiveness of supplier risk management practices to ensure EMC remains compliant and protected against supplier risks.
Partners closely with Procurement team to ensure collaboration in designing and executing an efficient process in evaluating risk within contractual documents and relationships with suppliers.
Completes periodic ongoing monitoring of suppliers, products, and/or services on a risk-adjusted basis.
Ensures all required onboarding and ongoing risk-based due diligence documents are saved in the document repository and have undergone proper subject matter expert (SME) reviews.
Leads the risk review of new contract submittals, ensuring that contract language is within EMC’s established risk tolerances.
Drives resolution of program escalations, exceptions, and non-compliance events in accordance with policy requirements as appropriate.
Consults and collaborates with Procurement team regarding the selection, implementation, and maintenance of a departmental supplier risk management software program.
Participates in evaluating and recommending software and technology tools to enable more efficient supplier risk management, and issue and dispute management.
Leads development and administration of supplier risk management software and maintains process flows that are intuitive and efficient.
Addresses questions from business partners regarding supplier risk management process or system questions and escalates systematic issues to provider(s) as needed.
Develops key measures and performance indicators to help oversee and monitor the execution of the supplier risk management program.
Provides clearly documented aggregate supplier risk assessment results, including analyzed risk exceptions.
Collaborates with the business unit partners to assist in documenting the appropriate action plans to remediate identified risks within acceptable levels.
Creates and enhances monitoring and reporting presented to the Supplier Management Committee and other risk committees, as necessary, to demonstrate policies and procedures are in place and operating effectively to reduce the risks to EMC.
Develops, updates, and enforces supplier risk management policies and procedures aligned with industry best practices and regulatory requirements.
Ensures suppliers comply with company policies and guidelines, industry standards and regulatory requirements.
Provides training and guidance to internal stakeholders on supplier risk management practices.
Qualification
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Required
Bachelor’s degree, preferably in finance, business administration, internal audit, risk management, or related field, or equivalent relevant experience
Seven years of experience in supplier/third-party risk management or related experience
Preferred
Prior project management experience
Prior property and casualty insurance experience
Relevant industry certifications or designations
Strong knowledge of insurance practices and disciplines
Company
EMC Insurance Companies
EMC Insurance Companies is among the top 60 insurance organizations in the country based on net written premium, and we have more than 2,500 employees.
1,001-5,000 employees
Funding
Current Stage
Public CompanyTotal Funding
unknown1982-02-12IPO· nasdaq:EMCI
Leadership Team
Matthew Spackman
Senior Vice President and Chief Human Resources Officer
P
Philip Lucca
Senior Vice President, Field Operations
Recent News
2024-04-11
Des Moines Register
2024-04-10
Company data provided by crunchbase
