Risk Management
As a leading health insurer in the U.S, we maintain strong risk management practices in order to identify and manage potential risks. Since risks to our business may impact our members, other stakeholders, and our ability to deliver on our financial and strategic objectives, fostering risk awareness across the Centene enterprise is essential.
Centene’s risk identification process includes conducting quarterly and annual risk assessments and providing clear and timely reporting to executive leadership and the Board of Directors.
Centene’s approach to risk management incorporates the Three Lines of Accountability model:
Three Lines of Accountability Model
First Line of Accountability – Management
Corporate and business unit level leaders and operational management are responsible for identifying risks within their business areas and implementing appropriate mitigation strategies to address them.
Second Line of Accountability – Enterprise Risk and Compliance Functions
Centene’s enterprise risk and compliance functional areas, including ERM, Compliance, Data Privacy and Enterprise Security Risk Management, enable the ongoing identification of business risks and collaborate with first-line management to create and protect value.
Third Line of Accountability – Internal Audit
Internal Audit provides independent oversight of the first- and second-line functions, conducts independent assessments, and makes recommendations for continuous improvement.
