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Our Heart At Work Behaviors™ support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable.
Position Summary:
This highly visible role will play a critical leadership role in sourcing, executing and monitoring inorganic transactions at CVS Health. The successful candidate will report directly to the VP, Corporate Development and is expected to have frequent interaction with senior leaders across CVS Health (including CVS' executive leadership team).
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The Corporate Development team has primary responsibility for acquisitions, divestitures, joint ventures, and recapitalizations at CVS Health. In 2023, Corporate Development helped CVS deploy over $18B to inorganic opportunities, most notably the acquisitions of Oak Street Health and Signify Health. With our business segment leaders and enablement functions, Corporate Development has responsibility to:
- Assist business segments with maintaining an inorganic strategy and list of opportunities.
- Facilitate the process to buy, sell and recapitalize strategically important inorganic opportunities.
- Report on the performance of previous transactions to various internal stakeholders
- In partnership with enterprise, identify, analyze, and execute on potential inorganic opportunities in accordance with CVS Health's strategic and financial growth objectives.
- Analyze the financial and other available business information of target companies with a view toward their tactical and strategic fit into the company's portfolio.
- Prepare strategic rationale and valuation metrics in support of the internal approval process.
- Lead due diligence process and transaction negotiations. Present transaction findings to Executive Leadership, including the CFO and Business Unit Leaders in order to obtain proper transaction approvals.
- Lead the internal (e.g. Finance, Legal, Human Resources, etc.) and external (e.g. investment bank(s), financial due diligence provider, etc.) teams to support due diligence on the opportunity
- Develop close relationships with Business Unit Leaders and peers as well as those in supporting corporate functions to ensure effective communications and smooth transaction processes.
- Lead the transaction process from origination through to closing; work closely with a designated integration manager as appropriate to effectuate a smooth transition and integration.
- Lead the analyses and execution of specific deals, including crafting all materials vital for evaluation by senior executives, communicating with internal and external stakeholders.
- Lead CVS' inorganic sourcing efforts; represent CVS at various M&A conferences and spearhead conversations with target management teams
- Build and maintain relationships with external vendors and capital partners (e.g. investment bankers, financial sponsors, due diligence providers, etc.); manage these interactions via a CRM
- Strong communicator, both verbal and written, with executive presence and the ability to influence across functions at all levels of an organization
- Highly organized and able to provide positive leadership across multiple work streams in a fast-paced, complex working environment
- Validated project management skills with an emphasis on integrating multiple work outputs into a unified deliverable and executive narrative
- Organized, detail-oriented, and structured thinking and execution, with the ability to lead multiple tasks at a time; adjusts priorities as needed to meet deadlines
- Demonstrates high level of independent judgment and proactivity
- Shown presentation skills, including familiarity with Microsoft PowerPoint
- Experience building and leading high-performing teams
- The position is on-site in either Hartford, CT, Woonsocket, RI or New York city, NY 3 days a week.
- 10+ years of related experience, preferably in healthcare services in the U.S. (with a focus on payer and provider end-markets)
- 5+ years of leadership experience managing direct reports with an emphasis on building and leading high-performing teams
- Comprehensive understanding of M&A, deal structuring, due diligence, financial modeling, accounting and negotiations
- MBA preferred
- Experience in investment banking, private equity, transaction legal, and/or corporate development at a large enterprise
- Ability to travel up to ~35% of the time
Bachelor's Degree, in Finance, Business, Accounting or related field
Pay Range
The typical pay range for this role is:
$131,500.00 - $303,200.00
This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. This position also includes an award target in the company's equity award program.
In addition to your compensation, enjoy the rewards of an organization that puts our heart into caring for our colleagues and our communities. The Company offers a full range of medical, dental, and vision benefits. Eligible employees may enroll in the Company's 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees. The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners. As for time off, Company employees enjoy Paid Time Off ("PTO") or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies.
For more detailed information on available benefits, please visit jobs.CVSHealth.com/benefits
We anticipate the application window for this opening will close on: 09/27/2024
CVS Health requires certain colleagues to be fully vaccinated against COVID-19 (including any booster shots if required), where allowable under the law, unless they are approved for a reasonable accommodation based on disability, medical condition, religious belief, or other legally recognized reasons that prevents them from being vaccinated.
You are required to have received at least one COVID-19 shot prior to your first day of employment and to provide proof of your vaccination status or apply for a reasonable accommodation within the first 10 days of your employment. Please note that in some states and roles, you may be required to provide proof of full vaccination or an approved reasonable accommodation before you can begin to actively work.
CVS Health is committed to recruiting, hiring, developing, advancing, and retaining individuals with disabilities. As such, we strive to provide equal access to the benefits and privileges of employment, including the provision of a reasonable accommodation to perform essential job functions. CVS Health can provide a request for a reasonable accommodation, including a qualified interpreter, written information in other formats, translation or other services through ColleagueRelations@CVSHealth.com If you have a speech or hearing disability, please call 7-1-1 to utilize Telecommunications Relay Services (TRS). We will make every effort to respond to your request within 48 business hours and do everything we can to work towards a solution.