Executive Director
4 days ago
Job Description
Would you like to join Fortune 4 CVS Health leading our multifaceted and growing Rebates Finance team?
This position is responsible for the administration of the CVS Healths PBM manufacturer rebate contracts including the upfront rebate research and invoicing functions and backend cash collection/payment reconciliation function.
The Finance Operations - Manufacturer Rebate Executive Director will be accountable for the timely administration of the manufacturer rebate contracts on behalf of the Caremark PBM.
This includes the oversight of three key functional areas:
Rebate Research, Rebate Invoicing, and Rebate Payment Reconciliations.
Key functions include assessing rebate terms of conditions across our client formularies, clinical edits/programs, and plan design, producing rebate research results, inputting manufacturer contracts into our rebate system, performing contract assessments, creating and sending invoices to manufacturers, producing payment forecasts and various report sets, collecting payments, and reconciling payments.
Most critically, this position must ensure we meet our client rebate commitments, maximizing manufacturer rebate yields while ensuring an efficient operational process and timely resolution to disputes.
It must also ensure compliance with all policies & procedures, controls, and regulations while maintaining appropriate operational metrics and current training materials.
You will work very closely with the client rebate team and support their efforts to keep our clients informed as to their manufacturer rebates status and outlook.
You will promote and ensure effective collaboration with each of your three directors and their respective functional area (research, invoicing, reconciliation) as well as with other key partners (e.g. Client Rebate, FP&A, Trade, Accounting, Treasury, Underwriting) to ensure alignment and maximize our manufacturer revenue efficacy.
You will play a strategic role in the evolution of our manufacturer rebate system and related processes, providing feedback and helping us drive to greater efficiencies.
This position will be responsible for setting the strategic direction for the team, including the setting of goals and expectations, the ongoing coaching and feedback of team leaders and personnel, career development planning, performance reviews, strategic planning, cost center management, and staffing decisions.
Pay Range
The typical pay range for this role is:
Minimum: 131,500
Maximum: 289,300
Please keep in mind that this range represents the pay range for all positions in the job grade within which this position falls.
The actual salary offer will take into account a wide range of factors, including location.
Required Qualifications
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15+ years of experience in financial operations
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8+ years of experience in healthcare industry, including health insurance, PBM or pharmacy services
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2+ years leading a large team
COVID Requirements
COVID-19 Vaccination Requirement
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.
Preferred Qualifications
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Excellent leadership skills necessary to lead, inspire, develop, mentor, and engage a large, diverse cross-functional team; ability to lead strategic and cultural change across the organization
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The ability to handle multiple priorities and achieve deadlines and results, while shifting priorities.
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The ability to establish and maintain collaborative relationships across functional units.
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Excellent oral and written communication skills and data presentation skills.
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Significant PBM industry knowledge and understanding of contractual terms, provisions, and terminology, formularies, clinical edits, benefit design, manufacturers, and drug therapeutic classes.
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Proficiency with standard analysis tools such as Access, Excel, Visio, and project management tools such as MS Project
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Prior experience in Finance, Accounting and Financial Operations, including knowledge of financial principles such as GAAP, FP&A, cash management, and revenue cycle.
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Basic understanding of transactional system architecture and financial controls.
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Strong analytical abilities such as VBA, macros, pivot tables, SQL, etc.
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Knowledge of rebate systems and processes including drug rebate contract terms and financial implications of rebate provisions.
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Understanding of Waterfall and Agile development methodologies in large IT organizations.
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Understanding of operational process design and demonstrated ability to transform operational functions using process improvement, automation & robotics, and other tools.
Education
Bachelors degree or equivalent experience required; Masters degree or equivalent experience preferred.
Business Overview
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.
We strive to promote and sustain a culture of diversity, inclusion and belonging every day.
CVS Health is an affirmative action employer, and is an equal opportunity employer, as are the physician-owned businesses for which CVS Health provides management services. 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.
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