Position Summary:CVS Health is currently hiring for a dynamic individual to join our team as a Senior Director of Specialty Finance Underwriting. This position will drive financial results within the CVS Caremark Specialty Segment. This position provides direction on Specialty Stand Alone Clients with a supporting team of Analytic Consultants and Underwriters who identify and execute on opportunities to retain and expand our exisiting client relationships. Daily activities include leading the strategy setting and approval process for new and current stand alone customers for multi-year contracts, conducting market check pricing, and identifying and communicating opportunities to increase revenue and profit margins.
This position will support the entire Underwriting team with specialty strategy guidance, including team training and at times taking point on strategic integrated Health Plan clients. In this challenging role will lead client discussions that are highly complex financially. This role requires deep understanding of pricing/financial levers of our business. A successful candidate for this role must have a demonstrated ability to understand this level of complexity and be involved
in new product and network solutions that have specialty implications.
As a Senior Director you will have leadership over a specialty contract management team responsible for monitoring negative margin drugs related to fixed price contract changes, ASP changes, etc. This position will ensure contracts are being monitored and identify opportunities to maximize margin/mitigate risk. Additional responsibilities include OED management of PBM clients – ensuring handoff of drug pricing to maximize profitability/mitigate risk as well as working with Finance on accruals for missed guarantees.
The incumbent must acquire and maintain expert knowledge of internal underwriting, analytic and pricing models to analyze, review and approve client financial offerings that maintain the highest levels of accuracy in forecasting CVS Caremark’s profitability and client savings. They must exercise sound business judgment to achieve proper balance between client wins and CVS Caremark profitability. They must identify areas of potential risk and implement process improvements to mitigate risk, use data to create compelling value statements on pricing and savings opportunities to assist in closing sales and generating profitable returns to the business.
A successful candidate in this position will maintain expert knowledge of the health insurance industry, PBM industry, current/emerging medical and pharmacy trend management strategies, current/emerging CVS Caremark enterprise
offerings, CVS Caremark data warehouse, drivers of CVS Caremark enterprise revenue/profitability, and drivers of specialty client revenue/profitability. The successful candidate will have a proven track record of building and leading
high-performing teams of knowledge-based employees with the necessary business acumen, clinical knowledge and technical skills to contribute to the goals of the business unit. The successful candidate will also have a track record that demonstrates the following abilities: developing and executing strategic business plans, working
successfully in a cross-matrix environment, adapting and performing in a dynamic and changing environment, developing and leveraging a comprehensive understanding of CVS Caremark’s enterprise assets, developing a deep
understanding of internal and external goals, maintaining high levels of customer satisfaction, and applying clinical and analytical expertise to make informed recommendations and decisions.
Flexible for position to be based out of any CVS corporate office.
Required Qualifications: Minimum of 10 years professional experience.
Minimum of 3 yrs within a PBM, health plan or related healthcare experience.
Preferred Qualifications:Ability to provide domain expertise across the full spectrum of financially-related efforts aimed at retaining clients and growing the revenue and profitability of clients, including leading client renewals, conducting market check pricing, and
identifying and communicating opportunities to increase revenue and profit margins across areas such as plan design, channel, clinical, and other solutions.
Ability to cultivate and maintain relationships with key internal stakeholders from Sales and Account Services and identify and communicate opportunities to increase revenue and margin at a client-level.
Ability to cultivate and maintain relationships with key external client contacts and use data to identify and position opportunities for adoption of standard and custom solutions.
Ability to provide custom approaches to managing the pharmacy and overall healthcare benefit where standard solutions are not the preferred option for clients to implement.
Ability to maintain overall accountability for implementing and overseeing processes to ensure accurate financial modeling with projections for client and internal outcomes.
Ability to collaborate with key internal partners to produce forward-thinking analytical output taking into account the long-term nature of PBM contracts and the sales cycle.
Ability to collaborate with internal partners to develop products and services that leverage CVS Caremark’s enterprise assets, differentiate the firm from its retail/PBM competitors, and attract and retain health plan lives.
Ability to develop and maintain collaborate and effective working relationships with key internal partners across the enterprise, including executive-level decision makers.
Hire, train, coach, and develop a team of Sr. Managers, Analytic Consultants, and Underwriters.
Ability to develop and maintain relationships with industry thought leaders and consultants. Promote the external visibility of CVS Caremark by actively participating in external speaking engagements, and by
maintaining involvement in professional organizations.
Ability to promote team diversity both in terms of demographics and ideas. Manage cost centers and departmental expenses according to budget.
Work independently in a fast-paced environment and manage tight deadlines with appropriate level of
delegation to team members.Education:Required: Bachelor's degree
Preferred: Advanced degree in a relevant discipline, such as an MBA.
CVS Health, through our unmatched breadth of service offerings, is transforming the delivery of health care services in the U.S. We are an innovative, fast-growing company guided by values that focus on teamwork, integrity and respect for our colleagues and customers. What are we looking for in our colleagues? We seek fresh ideas, new perspectives, a diversity of experiences, and a dedication to service that will help us better meet the needs of the many people and businesses that rely on us each day. As the nation’s largest pharmacy health care provider, we offer a wide range of exciting and fulfilling career opportunities across our three business units – MinuteClinic, pharmacy benefit management (PBM) and retail pharmacy. Our energetic and service-oriented colleagues work hard every day to make a positive difference in the lives of our customers.
CVS Health is an equal opportunity employer. We do not discriminate in hiring or employment against any individual on the basis of race, ethnicity, ancestry, color, religion, sex/gender (including pregnancy), national origin, sexual orientation, gender identity or expression, physical or mental disability, medical condition, age, veteran status, military status, marital status, genetic information, citizenship status, unemployment status, political affiliation, or on any other basis or characteristic prohibited by applicable federal, state or local law. CVS Health will consider qualified job candidates with criminal histories in a manner consistent with federal, state and local laws. CVS Health will not discharge or in any other manner discriminate against any Colleague or applicant for employment because such Colleague or applicant has inquired about, discussed, or disclosed the compensation of the Colleague or applicant or another Colleague or applicant. Furthermore, we comply with the laws and regulations set forth in the following EEO is the Law Poster: EEO IS THE LAW
and EEO IS THE LAW SUPPLEMENT
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CVS Health does not require nor expect that applicants disclose their compensation history during the application, interview, and hiring process.
For inquiries related to the application process or technical issues please contact the Kenexa Helpdesk at 1-855-338-5609. For technical issues with the Virtual Job Tryout assessment, contact the Shaker Help Desk at 1-877-987-5352. Please note that we only accept resumes via our corporate website: https://jobs.cvshealth.com/