At CVS Health, we're building a world of health around every consumer and surrounding ourselves with dedicated colleagues who are passionate about transforming health care.As the nation's leading health solutions company, we reach millions of Americans through our local presence, digital channels and more than 300,000 purpose-driven colleagues - caring for people where, when and how they choose in a way that is uniquely more connected, more convenient and more compassionate. And we do it all with heart, each and every day.Position Summary
This position within the Network Performance and Execution organization provides the financial tools and analytics to support network
strategy in alignment with market/business growth priorities. This position provides a unique opportunity to experience the network
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buildout process from creation to implementation and performance evaluation as we are heavily involved in our expansion into the
IFP (Individual and Family Plan) market. The significant cross-functional collaboration required to build a network provides opportunities
to gain insight into the complexity of one of our most valuable assets (our networks) and to broaden your scope and understand other
critical areas across the company. The market-specific responsibilities will give them the opportunity to gain an in-depth knowledge of
market dynamics and build strong cross-functional relationships with business partners (network, MEU, commercial actuarial, etc.).
Other traditional areas of focus include network discounts, Accountable Care Organizations (ACOs), and other Value Based Contracts (VBCs).Network Actuary key responsibilities include:
Providing guidance on narrow network structure/configurations, product pricing, and provider partner contract negotiations.
While the team's current focus is our evolving IFP segment, we provide support for narrow networks across all Commercial segments
(IFP, Small Group, Select, Key, and National Accounts and Public & Labor) and own all ACO pricing. This includes supporting Commercial Actuarial
market actuaries with annual rate reviews as well as the business development of new networks and ACOs.
Monitoring performance of existing networks and products to ensure adequate and competitive pricing that will support our Operating Plan
goals for profitability and membership.
Understanding and improving the performance of our quickly evolving IFP segment requires the team to continuously create new and adapt existing tools and processes.
Become the expert on market-specific arrangements and dynamics, contributing to populating and building of new tools.
Creating and leveraging strong partnerships.
Key partners are local network management, Commercial Actuarial, MEU and the P&L Strategy teams.
Frequent adhoc assignments and non-traditional initiatives continuously drive new partnerships.Required Qualifications
Bachelor's degree along with 3+ years of actuarial and/or analytical experience
Strong technical, analytical, and financial skills
ASA or close to ASA designation
Strong Excel skills along with experience in or appetite to learn SQL language
Excellent communication skills and verbal communication skills
Thrive in a constantly evolving environment with competing priorities and deadlines
Preferred Qualifications
Provide superior customer service to both internal and external constituents
Problem solving skills are critical as many of the concepts are new or in development
Ability to generate new ideas, think strategically, and creatively solve problems that are not well defined
Education
Bachelor's Degree required Anticipated Weekly Hours
40Time Type
Full timePay Range
The typical pay range for this role is:$92,700.00 - $203,940.00This 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.Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.Great benefits for great peopleWe take pride in our comprehensive and competitive mix of pay and benefits - investing in the physical, emotional and financial wellness of our colleagues and their families to help them be the healthiest they can be. In addition to our competitive wages, our great benefits include:
- Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.
- No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.
- Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.