Executive Director, PBM Product Innovation & Development

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.

Position Summary

Caremark is the nation's leading pharmacy benefit manager (PBM). We work to ensure the path to better health is affordable, easy to access, and simple to follow, for our 103 million plan members. We provide personalized support to help people start and stay on their medications, because people who take their medications have better outcomes and lower health care costs.

Caremark is recruiting an Executive Director, PBM Product Innovation and Development who will create, enhance, and operationalize new, innovative PBM product offerings. You will be on the forefront of healthcare innovation, leading a team focused on building and enhancing PBM solutions that address client challenges. This role requires a strong command of drug pricing, pharmacy benefits, and healthcare innovation. A successful Executive Director will utilize an in-depth understanding of the PBM industry to create value for Caremark's customers.

You'll make an impact by:

• Leading the product team for an innovative and transparent PBM pricing model.

• Supporting ongoing enhancements to products that support rebate value allocation.

• Leading specialty pharmacy performance guarantees.

• Developing a new sales enablement tool.

• Leading greenfield healthcare innovation products and businesses.

• Managing a team of direct reports as well as leading in a matrixed environment.

• Responsibility for collaborating across functional areas and coordinating required inputs from enabling teams.

• Working closely with senior executives and business partners at all levels of the organization to understand business and marketplace needs, to guide teams to solve problems, and to rapidly deliver new solutions to the market.

• Supporting CVS Health in attracting, retaining, and engaging a diverse and inclusive consumer-centric workforce that delivers on our purpose and reflects the communities in which we work, live, and serve.

Required Qualifications

The candidate will have a strong work ethic, be a self-starter, and be able to be highly productive in a dynamic, collaborative environment. This position offers broad exposure to all aspects of the company's business, as well as significant interaction with all the business leaders. The candidate will be expected to have the following key attributes:

• 10+ years of healthcare experience, specifically B2B product innovation and operations experience.

• 5+ years of experience in PBM Product Development or Clinical Product Development.

• Strong healthcare industry experience, specifically supporting PBM sales and marketing.

• Successful engagement with senior leaders in matrixed organizations on projects that require alignment, prioritization, and synthesis.

• Highly organized, exhibit strong communication and executive presence skills.

• Experience and strength leading a large team and partnering across a large matrix organization.

• Data-Driven Skills: leverages data and insights to make informed business decisions; incorporates appropriate insights and evidence points into provider communications.

• Positively influence stakeholders to support key projects/programs to ensure positive outcomes that deliver on results.

• Inspiration for culture: demonstrated experience building and enhancing organizational accountability, trust, and partnership.

• Sets direction of the business plan and translates into vision for staff/others.

• Curiosity: collaborates with business partners to understand their strategy, problems, and goals; works with senior leaders to identify opportunities to implement solutions.

• Communication: confident, succinct verbal communicator; produces effective written communication with little input from senior leader.

• Detail Orientation: sets priorities and executes strategy for the organization. Leads development of solutions with high complexity and risk with business area implications.

• Ability to work Hybrid Model in the office 3 days a week.

• Demonstrate a commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.

Education

Bachelor's degree or equivalent required. Masters, Doctorate or RPh/PharmD preferred.

Pay Range

The typical pay range for this role is

$131,500.00 - $303,200.00

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 heart into caring for our colleagues and our communities. The Company offers a full range of medical, dental, and vision benefits. Eligible employees may enroll in the Company's 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees. The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners. As for time off, Company employees enjoy Paid Time Off ("PTO") or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies. For more detailed information on available benefits, please visit ~~~/benefits

We anticipate the application window for this opening will close on: 08/01/2024

We are an equal opportunity and affirmative action employer. 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.