Mgr, Underwriting

Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand - with heart at its center - our purpose sends a personal message that how we deliver our services is just as important as what we deliver. 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

Do you want to make a large impact in your next role? Join CVS Health as an Underwriting Manager, where you will be responsible for Financial Analysis and Underwriting within the team. Here, you will work on key pricing activities to retain and grow pharmacy lives and support CVS Health and Finance leadership to drive value through network and formulary pricing strategies on multiple ~~~ this high impact position, you will support key underwriting and financial analysis activities. This role will manage vast, complex Pharmacy Benefit Management (PBM) pricing strategies and pricing deployment designed to meet the business needs of the CVS Health Enterprise (PBM and Aetna as the client), and acts in an advisory capacity to the Aetna Underwriting team responsible for its downstream customers' pricing. This position will report into the Sr. Manager of PBM Underwriting.The successful candidate will possess and maintain expert knowledge of the PBM and Health Plan Insurance industry economics and will have proven their ability to work on a high-performing team of knowledge-based employees with the necessary business acumen and technical skills to contribute to the goals of their team. The successful candidate will also have a track record of demonstrating the skill sets necessary to build a deep understanding of the client's business and goals in order to successfully execute on strategies targeted at improving financial outcomes with supporting data. The successful candidate will also demonstrate a high level of consistency and expertise in using logic and analytic skills independently to direct client analysis in response to specific business questions and be able to communicate the findings, including methodology and estimated outcomes. Additionally, the successful candidate will have proven experience driving process improvement and executing support capabilities to meet existing and future client needs and will work with internal teams to enhance analytic support for clients. This will require an understanding of levers of PBM and enterprise profitability as well as utilizing, improving, or developing new tools and processes for pricing current and prospective clients. It would be particularly beneficial to have experience in the Caremark underwriting models and EOS, as well as the Fee Authorization Form (FAF) systems.

Responsibilities include

• Assessing risk and developing recommendations to maximize client value while retaining margin first in the PBM and second in the Enterprise

• Developing pricing recommendations for multiple lines of business based on in-depth competitive analysis

• Assisting Aetna's Underwriting leadership to develop pricing for downstream pricing by providing segment-specific data

• Completing tasks in the Caremark Underwriting models

• Modifying FAFs appropriately

• Ad-hoc analysis to support a variety of internal and client requests

• Developing and maintaining relationships with Sales and Account Management

• Developing relationships with Caremark and Aetna Finance partners to assist in margin budget development and validation

• Creating and updating multiple complex Pricing Commitment Documents to reflect Caremark's pricing and contract terms offer for each business segment

• Advise Caremark Legal as the Underwriting subject matter expert during contract negotiations

• Provide ad hoc analysis and advise on implementation scenarios related to regulatory changes

• Work with internal partners to understand downstream implications of proposed pricing strategy and facilitate seamless, accurate, and on-time implementation

• Ability to analyze and make recommendations on questions or issues when not all the information is available; ability to self-direct to find solutions with minimal guidance

• Acquire and maintain leading-edge knowledge of PBM plan management strategies and solutions

• Ability to work both independently and part of a group in a fast-paced environment and manage tight deadlines

Required Qualifications

• 5+ years in a health plan actuarial role, PBM financial analysis or underwriting role, or comparable industry experience.

Preferred Qualifications

• Prior PBM/Health Plan or PBM/Employer experience

• Actuarial experience and Actuarial certifications a plus

• Strong Technical skills - particularly in Excel

Education

Bachelor's degree in mathematics, finance, statistics, actuarial science or other risk management or data related fields or equivalent experience

Pay Range

The typical pay range for this role is

$60,300.00 - $132,600.00

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. 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 ~~~/benefits

We anticipate the application window for this opening will close on: 07/31/2024

We are an equal opportunity and affirmative action employer. We do not discriminate in recruiting, hiring, promotion, or any other personnel action based on race, ethnicity, color, national origin, sex/gender, sexual orientation, gender identity or expression, religion, age, disability, protected veteran status, or any other characteristic protected by applicable federal, state, or local law.