Job Description
Job Description
**This position can be located out of any CVS Health or Aetna hub, or fully remote.**
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:
* Engage with Sales and Underwriting on multiple pharmacy risk products. Including the development, underwriting and risk management of Trend and Net Cost guarantees with significant fees at risk. Specific responsibilities will include:
o Product design analysis; development of rating manuals and procedures.
o Prototyping tools internally prior to rolling out on a production basis.
o Risk assessment of product revisions and updates.
o Assist and advise in the creation, review and implementation of contract offerings.
o Assist in communication and education with external clients and consultants.
* Assist with development and review of key assumptions supporting the future-state of a new PBM Underwriting model currently being developed.
* Work with multiple internal and client account teams on in-depth experience reviews for high-profile clients and other ad-hoc data analyses, such as COVID-19 implications and evaluations of new product ideas.
* Consult and advise your leadership in risk proposal strategy and development.
* Support the presentation of underwriting analysis, pricing recommendations and risk assessment to senior management for approval.
To be successful, you will:
* Develop solid knowledge of pharmacy pricing, modeling, terminology and concepts.
* Demonstrate strong consultative skills with the ability to communicate trade-offs and tell compelling stories by breaking complex messages into simpler solutions.
* Provide deep analytical and problem-solving skills in developing complex and challenging change-driving solutions.
* Demonstrate the ability to work well in a multidisciplinary team environment, as well as independently.
Join the company helping people on their path to better health! Our organization offers a competitive benefit package including vacation and holiday paid time off, health/dental/vision insurance, work/life balance, employee discounted stock purchase program, 401K, tuition reimbursement, and employee discounts at all CVS stores.
#AetnaActuary
Required Qualifications
- 3 years of Health Insurance pricing or underwriting experience.
- Demonstrated progress (passed exams) towards an ASA, or FSA.
Preferred Qualifications
- Actuarial Skills in the Health Care Industry including knowledge of Actuarial Standards of Practice (ASOPs).
- Strong problem solving, writing and communication skills.
- Advanced MS Office skills, knowledge of relational databases and warehouses, advanced SQL, OLAP and SAS skills.
- Degree related to finance, mathematics, operations, statistics, actuarial science, epidemiology, economics or other data related fields.
Education
-Bachelors degree required
Business Overview
At CVS Health, we are joined in a common purpose: helping people on their path to better health. We are working to transform health care through innovations that make quality care more accessible, easier to use, less expensive and patient-focused. Working together and organizing around the individual, we are pioneering a new approach to total health that puts people at the heart.
**This position can be located out of any CVS Health or Aetna hub, or fully remote.**
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:
* Engage with Sales and Underwriting on multiple pharmacy risk products. Including the development, underwriting and risk management of Trend and Net Cost guarantees with significant fees at risk. Specific responsibilities will include:
o Product design analysis; development of rating manuals and procedures.
o Prototyping tools internally prior to rolling out on a production basis.
o Risk assessment of product revisions and updates.
o Assist and advise in the creation, review and implementation of contract offerings.
o Assist in communication and education with external clients and consultants.
* Assist with development and review of key assumptions supporting the future-state of a new PBM Underwriting model currently being developed.
* Work with multiple internal and client account teams on in-depth experience reviews for high-profile clients and other ad-hoc data analyses, such as COVID-19 implications and evaluations of new product ideas.
* Consult and advise your leadership in risk proposal strategy and development.
* Support the presentation of underwriting analysis, pricing recommendations and risk assessment to senior management for approval.
To be successful, you will:
* Develop solid knowledge of pharmacy pricing, modeling, terminology and concepts.
* Demonstrate strong consultative skills with the ability to communicate trade-offs and tell compelling stories by breaking complex messages into simpler solutions.
* Provide deep analytical and problem-solving skills in developing complex and challenging change-driving solutions.
* Demonstrate the ability to work well in a multidisciplinary team environment, as well as independently.
Join the company helping people on their path to better health! Our organization offers a competitive benefit package including vacation and holiday paid time off, health/dental/vision insurance, work/life balance, employee discounted stock purchase program, 401K, tuition reimbursement, and employee discounts at all CVS stores.
#AetnaActuary
Required Qualifications
- 3 years of Health Insurance pricing or underwriting experience.
- Demonstrated progress (passed exams) towards an ASA, or FSA.
Preferred Qualifications
- Actuarial Skills in the Health Care Industry including knowledge of Actuarial Standards of Practice (ASOPs).
- Strong problem solving, writing and communication skills.
- Advanced MS Office skills, knowledge of relational databases and warehouses, advanced SQL, OLAP and SAS skills.
- Degree related to finance, mathematics, operations, statistics, actuarial science, epidemiology, economics or other data related fields.
Education
-Bachelors degree required
Business Overview
At CVS Health, we are joined in a common purpose: helping people on their path to better health. We are working to transform health care through innovations that make quality care more accessible, easier to use, less expensive and patient-focused. Working together and organizing around the individual, we are pioneering a new approach to total health that puts people at the heart.
We strive to promote and sustain a culture of diversity, inclusion and belonging every day. CVS Health is an equal opportunity and affirmative action employer. We do not discriminate in recruiting, hiring or promotion based on race, ethnicity, sex/gender, sexual orientation, gender identity or expression, age, disability or protected veteran status or on any other basis or characteristic prohibited by applicable federal, state, or local law. We proudly support and encourage people with military experience (active, veterans, reservists and National Guard) as well as military spouses to apply for CVS Health job opportunities.
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