Sr Mgr, Actuarial Services

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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

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.

With over $140B in revenue more than half of the CVS enterprise the Pharmacy Services Segment would be #18 on Fortune list as its own entity!

In this role, you will be frequently engaging as an individual contributor with a broad variety of teams

with visibility to leadership and ability to impact change in the PBM industry. Some of your specific responsibilities will include :

• Engaging with Product Development and Underwriting on innovative pharmacy risk products, This includes the development, underwriting and risk management of leading edge Client Pricing guarantees with significant fees at risk, such as Trend and Net Cost guarantees and TrueCost.
• Product design analysis; ; financial assessment of design options considered.
• Development of underwriting model prototypes and assist in establishing technical requirements for UW ecosystem build.
• Support development of assumptions specific to new and existing guarantee products.
• Risk assessment of product revisions and updates.
• Assist and advise in the creation, review and implementation of contract offerings.
• Communication and education with internal Finance, Product Development and Pharmacy Underwriting teams..
• Work with multiple internal and client account teams on in-depth experience reviews for high-profile clients and other ad-hoc data analyses, such drug class analyses and evaluations of new product ideas.
• 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 benchmarking or ad-hoc financial analyses, trend experience analysis and commercial client consulting.
• Identify and drive forward opportunities of using data in innovative ways that differentiate the CVS in the marketplace providing guidance to data engineering teams to build scalable solutions.
• Effectively prioritizing with the product team and within broader actuarial team.

To be successful, you will :

• develop a solid understanding 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.
• Adaptability and quick knowledge uptake with new and diverse ideas with an ability to analyze complex problems and drive solutions to completion.
• 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.
• Demonstrate the ability to 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 is required
• Master’s degree is preferred
• Equivalent Combination of education and experience may be considered.

Pay Range

The typical pay range for this role is :

$75,400.00 - $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.