A Career of Your Calling

How Is This Role Important to Our Work?

The Vice President (VP) Internal Audit Officeris responsible to develop, lead, and execute a comprehensive enterprise-wide internal auditing and enterprise risk management (ERM) strategy, function, and practice, ensuring activities are effective and aligned with the organization's goals. The role ensures that the organization has a strong risk-based audit program, governance, and internal control processes that protect company assets while promoting operational efficiency. The VP Internal Audit leadsapplication ofinnovative approachesto manage emerging and ever-increasingregulations and risks, keeping the function aheadof developments inthe market. It proactivelyanticipates and responds effectively to all stakeholderneeds and equips the team to address emerging risks in a helpful andimpactful manner. The VP Internal Audit will work closely with executive leadership and reports to the Board’s Audit Committee and administratively report to the Chief Legal Officer.

This position is responsible for the management of Internal Control over Financial Reporting (ICOFR) under the Model Audit Rule (MAR)and other work in conformance with the Standards of the National Association of Insurance Commissioners (NAIC), and the Standards of the Professional Practice of Internal Auditing and Code of Ethics developed by the Institute of Internal Auditors (IIA).The VP Internal Audit specifically sets the direction for the above areas and influences and collaborates with both internal and external stakeholders.

Job Responsibilities:

• Develop and execute a risk-based internal audit plan that aligns with the company’s strategic objectives, focusing on high-risk areas in operations, financial reporting, and regulatory compliance.

• Lead and manage the internal audit and ERM teams, providing guidance and oversight, ensuring timely execution of audit and riskwork.

• Provide objective assurance and consulting activity to improve operations. Brings a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

• Assess, monitor, and drive execution of the internal controls over financial reporting (ICOFR) activities for the company including documenting and testing processes and key controls contributing to the accuracy of the financial statements, and required controls under MAR.

• Coordinate corporate-wide documentation and testing of processes and controls.

• Verify the adequacy of processes as they pertain to assets, liabilities, receipts, expenditures.

• Establish quality controls to ensure audits are performed in a manner that complies with standard auditing practices; review all plans, programs, and activities to assure quality of the scope, technical aspects, and efficiency.

• Oversee the execution of the company’s SOC1 (System and Organization Controls) annual report.

• Establish and maintain credible interactions with senior leadership, the Board, and regulatory agencies.

• Create, oversee, and communicate well-developed strategic plans that align with the company’s direction and stakeholders’ expectations.

• Present internal audit plans as well as audit findings, recommendations, corrective action and monitoring to senior management and the Audit Committee of the Board of Directors.

• Develop a clear communication strategy to share audit outcomes, lessons learned, and best practices across the organization.

• Monitor the implementation of audit recommendations and perform follow-up audits, as necessary.

• Lead the ERM program, activities, and assessments to effectively identify, evaluate, manage, mitigate, monitor, and report on enterprise risks in a manner that helps to inform the annual Internal Audit plan and activities, and that supports and facilitates organizational strategy, business objectives, and effective financial, operational, compliance and governance controls.

• Implement highly effective and efficient enterprise risk assessments and mechanisms to track, monitor, and report on status of enterprise risks, integrating risk management into strategic planning and decision-making processes.Accountable for risk identification, scorecards, dashboards, risk appetitestatements, metrics, and reporting processes across relevant programs in the ERM framework, inclusive of Board/committee materials and reports.

• Maintain proactive involvement in business activities related to new products/services, systems development, systems conversions, emerging risks, and process reengineering to ensure that control and ERM considerations are evaluated in the initial stages. Coordinates with operational functions to identify and assess both enterprise and internal control risks.

• Oversee the annual completion of the Owned Risk and Solvency (ORSA) report and ensure the management of the activities that support the ORSA process.

• Collaborate with key stakeholders across the organization to promote a culture of risk awareness and proactive risk management.

• Report on risk exposure and mitigation activities to senior management and the Board of Directors.

• Coordinate the selection of outsourced audit providers and manage those relationships.

• Ensure all relevant working papers, audit reports and commentary are available to the company's independent public accountants as a means of aiding them in their examination.

• Interact and assist external auditors to coordinate audit response for regulatory and financial audits.

• Champion a culture of continuous improvement by evaluating the effectiveness of existing process and controls, recommending enhancements, and ensuring the quality and quantity of the internal audit and ERM team’s work output leveraging the use of audit analytics, automation and data driven risk assessment.

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Preferred Qualifications:

• 15+ years of Internal Audit, ERM, internal controls and assurance, financial, accounting, and/or relevant business operations experience

• 10+ years of managerial and senior-level Internal Audit people leadership experience

• Bachelor's or Master’s degree in Finance, Accounting, JD, or a related field

• CIA certification

• CISA or other relevant professional certifications

Required Skills and Experiences:

• Accepting this VP level position at BCBSMN requires signing an Employee Confidentiality, Intellectual Property Assignment and Restrictive Covenants Agreement as a condition of employment.

• Certified Public Accountant (CPA) designation.

• 10+ years of related professional experience, with 5+ years of senior management experience. All relevant experience including work, education, transferable skills, and military experience will be considered.

• Thorough understanding of internal auditing standards, and risk assessment practices.

• Demonstrated executive presence and ability to bring bold perspectives and thinking broadly about the company.

• Strong experience and expertise in the presentation and compilation of multi-stakeholder executive-level reporting, including but not limited to the Board, relevant Board Committees (e.g., Audit Committee), and executive leadership.

• Excellence in engaging stakeholders and building collaborative, trusting relationships with key internal and external regulatory representatives, to reduce resistance during audits and promote an elevated understanding of the value internal audit brings to the organization.

• Demonstrated superior analytical, decision-making, problem solving, and negotiation skills, and the ability to drive strategies and implement and execute programs. Able to anticipate long-term challenges and trends and able to understand the implications of decisions.

• Familiarity with data and audit analytics platforms, data analysis, auditing software and an understanding of how technology can support internal audit activities.

• Able to translate ideas and concepts into practical applications; sees how work relates to other teams and the organization as a whole; learns/knows which people in the organization need to be informed, what they need to know, and when to tell them.

• Ability to manage execution by proactively organizing and coordinating resources, time, and people to achieve key goals and objectives; prioritize goals and use resources while considering both strategy and efficiency.

• Exceptional talent management and team leadership skills. Demonstrated ability to provide clear,motivating, and constructive feedback, provide challenging assignments, coaching,and is a champion of a talented and diverse workforce.

• Exceptional verbal and written communication skills; ability to successfully present complex and sensitive issues to executives, the Board, and other audiences.Able to tailor message to the audience and keepsall stakeholders up to date with information.

• Must possess the highest ethical standards and share the organization's commitment to its values.