Third Party Risk Manager Jobs in Odenton, MD (NOW HIRING)

Inovalon was founded in 1998 on the belief that technology, and data specifically, would empower the transformation of the entire healthcare ecosystem for the better, improving both outcomes and economics. At Inovalon, we believe that when our customers are successful in their missions, healthcare improves. Therefore, we focus on empowering them with data-driven solutions. And the momentum is building.

Together, as ONE Inovalon, we are a united force delivering solutions that address healthcare’s greatest needs. Through our mission-based culture of inclusion and innovation, our organization brings value not just to our customers, but to the millions of patients and members they serve.

Location: This hybrid role is based at our corporate headquarters in Bowie, Maryland. The current onsite expectation is two days per week (Tuesdays and Wednesdays), with additional in-office presence as needed based on business needs.

Overview: The Compliance, Risk and Business Manager is responsible for advancing the Company's compliance posture, fulfilling customer regulatory obligations and managing key legal and risk management initiatives that support the Company's strategic objectives. This role partners closely with business stakeholders to integrate compliance into business initiatives, identify and address compliance risks and promote the consistent implementation of regulatory, contractual and internal requirements. The position also develops and maintains compliance metrics, dashboards and trend analyses to provide management with meaningful insights into compliance program performance, emerging risks and operational effectiveness.

Duties and Responsibilities:

• Serve as a program manager for key compliance and risk management initiatives, ensuring effective coordination, execution, monitoring and continuous improvement across the organization.
  Manage and conduct compliance and risk assessments in conjunction with Legal, Enterprise Procurement, Security, and other teams.
• Partner with business stakeholders to identify, assess and address compliance risks associated with business operations, products, strategic initiatives and regulatory change.
  Lead and coordinate enterprise and product-specific compliance risk assessments, compliance reviews and related activities to evaluate compliance with legal, regulatory, contractual and internal requirements.
• Manage compliance remediation initiatives by tracking corrective actions, validating completion, identifying trends and escalating issues, as appropriate.
• Support compliance-related third-party risk identification, assessment, and mitigation activities by facilitating implementation of policies, processes, and controls designed to manage vendor and business partner risks.
• Develop, monitor, and continuously enhance compliance metrics, key performance indicators, dashboards and trend analyses to measure program effectiveness, identify emerging risks, and inform management decision-making.
• Prepare and present regular compliance and risk reports to the Chief Legal Officer and other senior management, providing meaningful analysis of program performance, key metrics, emerging risks, trends, remediation activities, and significant compliance initiatives.
• Ability to work effectively with Legal, Privacy, Security, Procurement, Product, Operations, Commercial, and other business teams.
• Work collaboratively with India-based partners and cross-functional teams to support compliance, risk management, reporting, and operational initiatives across time zones.
• Maintain compliance with lnovalon's policies, procedures and mission statement.
• Adhere to all confidentiality and HIPAA requirements as outlined within lnovalon's Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position.
• Fulfill those responsibilities and/or duties that may be reasonably provided by lnovalon for the purpose of achieving operational and financial success of the Company.
• Uphold responsibilities relative to the separation of duties for applicable processes and procedures within your job function.
• We reserve the right to change this job description from time to time as business needs dictate and will provide notice of such.

Education:

• Bachelor’s Degree in Arts/Sciences (B.A./B.S.) or equivalent work experience required

Experience:

• 8+ Years of relevant experience in compliance, risk management, legal operations, internal audit or a related function required

Skills and Abilities:

• Experience supporting third-party risk management, vendor governance or related compliance activities.
• Experience conducting or coordinating compliance risk assessments, compliance reviews, audits or control evaluations.
• Experience supporting product compliance, regulatory compliance, or governance initiatives within a technology environment preferred.
• Experience collaborating across global teams, including U.S. and India-based stakeholder is preferred.
• Demonstrated ability to influence stakeholders without direct authority and build credibility with senior management and executive leadership through effective communication and presentation.
• Experience developing management reports, dashboards, metrics, and data analysis to measure program performance, monitor remediation activities, identify trends and support risk-based decision-making.
• Strong analytic, project management and interpersonal skills.
• Solid verbal and written communication skills.
• Ability to lead, set priorities and work on multiple tasks in a fast-paced, team-oriented environment.
• Strong knowledge of MS Office, including Word, Excel and Visio.
• Detail oriented with excellent follow-up skills.

Working Conditions and Physical Demands:

• This is a primarily sedentary role. The employee is regularly required to sit, talk, and hear for extended periods of time, and also required to repetitively use manual labor to operate a computer keyboard and other office equipment.
• The employee may occasionally need to stand, walk, or lift and/or move up to 10 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Inovalon Offers a Competitive Salary and Benefits Package

In addition to the base compensation, this position may be eligible for performance-based incentives.

The actual base pay offered may vary depending on multiple factors including, but not limited to, job-related knowledge/skills, experience, business needs, geographical location, and internal equity. At Inovalon, it is not typical for an individual to be hired at or near the top end of the range for their role, and compensation decisions are dependent upon the facts and circumstances of each position and candidate.

Inovalon invests in associates to help them stay healthy, save for long-term financial goals, and manage the demands of work and personal commitments. That’s why Inovalon offers a valuable benefits package with a wide range of choices to meet associate needs, which may include health insurance, life insurance, company-paid disability, 401k, 18+ days of paid time off, and more.

Base Compensation Range

$90,600 — $140,000 USD

This position is not eligible for immigration sponsorship (e.g. H-1B, TN, or E-3). Applicants must be authorized to work in the United States as a condition of employment. (This is only applicable for US-based positions)

By embracing inclusion, we enhance our work environment and drive business success. Inovalon strives to provide equal opportunities to the communities where we operate and to our clients and everyone whom we serve. We endeavor to create a culture of inclusion in which our associates feel empowered to bring their full, authentic selves to work and pursue their professional goals in an equitable setting. We understand that by fostering this type of culture, and welcoming different perspectives, we generate innovation and growth.

Inovalon is proud to be an equal opportunity workplace. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or veteran status. We also consider qualified applicants regardless of criminal histories, consistent with legal requirement.

To review the legal requirements, including all labor law posters, please visit this link.

To review the California Consumer Privacy Statement: Disclosures for California Residents, please visit this link.