AVP, Finance Operations - Caremark

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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 Description

The AVP, PBM Finance Operations will lead a team of approximately 400 full-time colleagues dedicated to client service excellence, strong financial controls, and technology-driven financial solutions. In this role, the AVP will be responsible for a broad array of financial operations activities for the Caremark Pharmacy Services Segment, including rebate financial management, client guarantee management, revenue cycle, pharmacy adjustment services, member financial services, Medicare Part D financial management, and audit management. This role is key to supporting CVS’ ability to achieve its financial and strategic goals by optimizing financial performance on behalf of our clients and leading initiatives to modernize operational processes and systems.

Key Responsibilities

• Oversee broad array of financial operations teams that administer roughly $500 billion of financial transactions annually with a focus on continuous operational improvement, efficiency, and productivity
• Develop and lead high-performing teams with customer service mindset, while managing a high level of employee engagement
• Create simplicity and continuously improve leading-edge products to serve evolving needs of clients and administration of their pricing and contractual terms
• Partner closely with FP&A and Accounting teams to enable faster insight into emerging financial performance
• Support client relationship management by building strong internal and external relationships to service our clients, playing an advisory role providing operational advice and solutions for challenges to our clients, understanding client needs
• Effectively communicate with key internal partners, external clients, consultants and vendors
• Responsible for ensuring all appropriate financial controls are in place and being met across financial operations

Required Qualifications

• 15+ years of experience in financial operations and/or financial planning & analysis
• 10+ years of experience in healthcare industry, including health insurance, PBM or pharmacy services
• Subject matter expertise in Finance, Accounting and Financial Operations, including knowledge of financial principles such as GAAP, FP&A, cash management, and revenue cycle
• Proficiency with standard analysis tools such as Access, Excel, Visio, and project management tools such as MS Project
• Significant PBM industry knowledge and understanding of contractual terms, provisions, and terminology
• Deep understanding of transactional system architecture and financial controls
• Demonstrated ability to manage large, complex cross-functional teams and ability to lead strategic and cultural change across the organization

Preferred Qualifications

• Strong analytical abilities such as VBA, macros, pivot tables, SQL, etc.
• Deep knowledge of rebate systems and processes including drug rebate contract terms, client contract terms, financial implications of rebate provisions
• Understanding of Waterfall and Agile development methodologies in large IT organizations
• Deep understanding of operational process design and demonstrated ability to transform operational functions using process improvement, automation & robotics, and other tools

Education

• Bachelor’s degree required
• Master’s degree preferred

Pay Range

The typical pay range for this role is:

$157,800.00 - $363,936.00

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 hea