At CVS Health, we're building a world of health around every consumer and surrounding ourselves with dedicated colleagues who are passionate about transforming health care.As the nation's leading health solutions company, we reach millions of Americans through our local presence, digital channels and more than 300,000 purpose-driven colleagues - caring for people where, when and how they choose in a way that is uniquely more connected, more convenient and more compassionate. And we do it all with heart, each and every day.Position Summary
Exciting opportunity to join CVS Health as Director, PBM Underwriting. In this role you will support the PBM to establish pricing and contractual terms with health plan clients, influence operational execution to achieve underwritten intent and optimize margin, facilitate strategic conversations with health plan clients and consultants, and negotiate contracts to memorialize the agreed-upon terms. The decisions made by this role will impact the ability to win or retain clients and impact the overall financial success (e.g. earnings, revenue, margins) of CVS Health and the clients you are supporting. Key responsibilities will include:
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- Provide consultation on all aspects of PBM pricing offers, including retail networks, specialty and mail dispensing, pharmaceutical manufacturer rebates, and administrative fees
- Partner with sales and internal partners to create pricing offers for current and/or prospective clients
- Provide consultation on overall pharmacy pricing strategy and competitive intelligence
- Present to and influence external clients and consultants
- Collaborate with internal Sales and Account Services, Underwriting, Consultant Relations, and other stakeholders
- Anticipate and recognize market events and pricing strategies and make sound recommendations
- Develop and apply information on pricing concepts and strategies to create competitive financial offers
- Understand and support client's financial goals and objectives
- Maintain knowledge of regulatory events and ensure pricing offers are compliant
- Manage tight deadlines, ensure deliverables are met and accurate
Required Qualifications
- 10 + years financial underwriting experience
- 3+ years PBM knowledge
- Adaptability and ability to prioritize effectively
- Cultivate and maintain relationships with key internal partners
- Ability to work in a fast-paced environment and handle tight deadlines
- Excellent executive communication and presentation skills
- Assertive, self-starter; able to make decisions independently
- Demonstrated organizational/follow-up skills
- Must be able to work efficiently managing multiple projects
- Experience in anticipating customer needs and requirements as well as facilitating and negotiating using tact and diplomacy
- Experience in building strong cross-functional relationships with internal and external clients
- Ability to manage changing priorities while meeting client needs, high volume and tight deadlines
- Demonstrated ability to influence and negotiate internal and external cross-functional business issues
- Bachelor's degree or equivalent work experience required
- Masters Degree is preferred
The typical pay range for this role is:$100,000.00 - $231,540.00
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.Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.Great benefits for great peopleWe take pride in our comprehensive and competitive mix of pay and benefits - investing in the physical, emotional and financial wellness of our colleagues and their families to help them be the healthiest they can be. In addition to our competitive wages, our great benefits include:
- Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
- No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
- Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.