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Position Summary
Do you want to make a large impact in your next finance role? Join CVS Health, a Fortune 5 organization, as an actuary where you can learn the dynamic and complex nature of the Pharmacy management in the Pharmacy Benefit Manager with the largest market share in the US. CVS Caremark serves over 100M lives include many marquee brands large government clients give you the opportunity to drive impact over a large segment of the US population.
In this role, you will be frequently engaging as an individual contributor with a broad variety of teams with high visibility to leadership and ability to impact change in the PBM industry. Some of your key responsibilities will include:
- Engage with Product Development and Underwriting on innovative pharmacy risk products, such as TrueCost. Including the development, underwriting and risk management of leading edge Client Pricing guarantees with significant fees at risk. Specific responsibilities will include:
- Product design analysis; financial assessment of design options considered.
- Development of underwriting model prototypes and establishing technical requirements for UW ecosystem build.
- Support development of assumptions specific to new guarantee product.
- Risk assessment of product revisions and updates and custom client requests.
- Assist and advise in the creation, review and implementation of contract offerings.
- Communication and education with internal Finance, Product Development and Pharmacy Underwriting teams.
- Consulting and advising your leadership in risk proposal strategy and development.
- Support the presentation of underwriting analysis, pricing recommendations and risk assessment to senior management for approval.
- Provide support for broader actuarial department priorities, such as Trend related guarantees, benchmarking or ad-hoc financial analyses, and trend experience analysis.
- Identify and drive forward opportunities of using data in innovative ways that differentiate CVS in the marketplace providing guidance to data engineering teams to build scalable solutions.
- Effectively prioritizing with the Product Development team and within broader actuarial team.
To be successful, you will:
- Develop a solid understanding of Pharmacy Benefit Management pricing, modeling, finance, terminology and concepts.
- Provide customer-centric mindset, with ability to communicate primary findings and recommendations with Non Actuarial / non-technical / executive teams.
- Demonstrate adaptability and quick knowledge uptake with new and diverse ideas with an ability to analyze complex problems and drive solutions to completion under tight deadlines.
- Provide deep analytical and problem-solving skills in developing complex and challenging change-driving solutions.
- Demonstrate strong consultative skills with the ability to communicate trade-offs and tell compelling stories by breaking complex messages into simpler solutions.
- Work well in a multidisciplinary team environment, as well as independently.
Required Qualifications
- At least 7 years of actuarial experience or equivalent with a majority in healthcare/medical industry or Pharmacy Benefit Management industry.
- Attainment of ASA or FSA designation.
Preferred Qualifications
- Experience in Pharmacy Benefit Management industry.
- Exceptional self-directed ability to contribute to teams as an independent individual contributor.
- Diverse experiences that demonstrate an ability to learn quickly.
- Able to synthesize complex information in complex tools to drive solutions.
- Exceptional communication skills, including bringing clarity to complex situations to both technical and non-technical audiences, engaging with senior leadership and effectively managing tight deliverable timelines.
- Adaptability and ability to prioritize effectively.
- SQL / SAS / data engineering experience.
Education
- Bachelor's Degree or equivalent experience required.
- Master’s degree is preferred.
Pay Range
The typical pay range for this role is: $79,200.00 - $174,200.00.
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.
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.
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