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 SummaryCVS Health is seeking a dynamic and experienced Lead Director of Architecture, Innovation & Strategy for the PBM (Pharmacy Benefit Management) line of business. In this high-impact role, you will build and lead a technology incubation function, identifying, developing, and launching innovative solutions that address critical business challenges, improve patient outcomes, and drive significant value for CVS Health. You will be at the forefront of emerging technologies, working closely with business leaders, technology teams, and external partners to shape the future of pharmacy benefits.Key Responsibilities
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- Strategic Vision & Leadership: Develop and execute a comprehensive innovation strategy aligned with the PBM's business objectives and CVS Health's overall strategic goals. Identify and prioritize key areas for innovation, focusing on high-impact opportunities.
- Incubation Program Leadership: Lead the end-to-end incubation process, from idea generation and validation to prototype development and market launch. Establish clear processes, metrics, and governance to ensure the program's effectiveness.
- Technology Exploration & Evaluation: Stay abreast of emerging technologies (AI, machine learning, data analytics, automation, etc.) and assess their potential application to the PBM business. Conduct technology feasibility studies and develop proof-of-concepts by partnering with technology teams.
- Cross-Functional Collaboration: Partner closely with business unit leaders, technology teams (architecture, data science, engineering), product management, and other stakeholders to drive innovation initiatives forward.
- External Partnerships: Cultivate relationships with external partners (startups, technology vendors, research institutions) to identify and leverage external innovation opportunities.
- Culture of Innovation: Foster a culture of experimentation, collaboration, and continuous improvement within the PBM organization. Encourage employees to generate new ideas and challenge the status quo.
- Performance Measurement: Define and track key performance indicators (KPIs) to measure the success of innovation initiatives and demonstrate their impact on the business. Regularly report on progress to senior leadership.
- 10+ years of experience in innovation, strategy, product development, or technology leadership roles, preferably within the healthcare or PBM industry.
- Proven track record of successfully leading and launching innovative products or services.
- Deep understanding of emerging technologies and their potential application to the healthcare industry.
- Strong strategic thinking, problem-solving, and analytical skills.
- Excellent communication, presentation, and interpersonal skills. Ability to influence and persuade stakeholders at all levels of the organization.
- Experience building and leading high-performing teams.
- Entrepreneurial mindset with a passion for innovation and a willingness to challenge the status quo.
- Experience with lean startup methodologies and agile development practices.
- Experience working with AI/ML, data analytics, or automation technologies.
- Experience in the pharmacy benefits management (PBM) industry.
- Established network of contacts within the technology and healthcare innovation ecosystem.
- Bachelor's degree required
- Master's degree preferred (MBA, MS in a related field)
The typical pay range for this role is:$144,200.00 - $288,400.00
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.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.