Senior Manager, Enterprise Risk Management

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

CVS Health is seeking a Sr. Manager to join our team! This position will be key in supporting the execution of the Enterprise Risk Management (ERM) framework that spans all of CVS Health including the Health Care Benefits, Health Services, and Pharmacy and Consumer Wellness (PCW) Segments.

Effective implementation of the framework relies upon the maintenance of strong relationships with subject matter experts throughout the business that assist in the identification, management and monitoring of significant risks encountered by CVS Health in the execution of our enterprise business strategy.

The output of the risk assessment process will be applied to assist in the quantification of strategic, financial and operational risk exposures and loss events to which CVS Health may be exposed.

The results of these analyses will help provide senior management with a better understanding and prioritization of their risks in order to assist in strategic decision making.

The individual in this role will also participate in the preparation of related presentation materials for both internal and external stakeholders.

This individual will lead the update of the enterprise economic capital model, a full company financial model which is utilized in the assessment of the adequacy of capital held.

Participation in this effort provides an opportunity for the individual to engage with, and have a deeper understanding of, the different business segments within CVS Health and the risks inherent therein.

The optimal candidate would have a strong quantitative background including experience with building financial models and a solid understanding of the different financial statements, as well as a track record of working effectively within structured and unstructured settings, strong written / verbal communication skills, and a proven ability to move complex projects through to completion.

Lead the design, implementation, and validation of robust risk quantification techniques to facilitate evaluation and prioritization of financial, strategic and operational risks.

Support preparation of the Own Risk and Solvency Assessment (ORSA) summary report and provide assistance in preparation of state regulatory questionnaires and rating agency presentation materials.

Maintain, validate, and enhance current enterprise economic capital model by developing and implementing an approach to capture the risks inherent in all the segments and holding company.

Support modeling efforts on new business investments and divestitures.

Partner with cross functional areas and team members in quantifying enterprise-wide risk exposures by gathering required / relevant information, facilitating derivation of assumptions and implementing different modeling techniques.

Demonstrate strong attention to detail in the gathering, analysis and synthesis of business intelligence to drive achievement of department goals and deliverables.

Leverage internal and external networking to drive optimal initiative results and knowledge / best practice transfer.

Demonstrate the ability to communicate complex concepts in a concise manner in both written and verbal presentations.

In order to be successful in this role you must exhibit the following :

Strong command of financial modeling, including scenario analysis, sensitivity analysis, Monte Carlo simulation, discounted cash flow (DCF), and forecasting

Advanced skills in Excel

Excellent organizational and time management skills with an ability to successfully balance business priorities and maintain a sense of urgency.

Ability to problem solve, identify, and remove roadblocks, triage, and prioritize issues.

Demonstrated leadership and talent development experience

Required Qualifications

7+ years' experience working with financial drivers of business, preferably with exposure to at least one of the following businesses : payer, provider, PBM, pharmacy

2+ years of experience using various statistical software and computer programming (e.g., @RISK, FIRM, R, Python, SQL, SAP, Oracle, etc.)

Preferred Qualifications

Experience in risk management programs or actuarial experience

Demonstrated experience successfully working in unstructured setting while performing well on routine and Adhoc tasks.

Experience with cross-functional large-scale initiatives with high degree of complexity.

Collaborative, team first, change agent mindset.

Education

Bachelors degree in Actuarial Science, Finance, Accounting, Mathematics, or Economics majors or equivalent experience.

Business Overview

At CVS Health, we are joined in a common purpose : helping people on their path to better health. We are working to transform health care through innovations that make quality care more accessible, easier to use, less expensive and patient-focused.

Working together and organizing around the individual, we are pioneering a new approach to total health that puts people at the heart.

We strive to promote and sustain a culture of diversity, inclusion and belonging every day. CVS Health is an equal opportunity and affirmative action employer.

We do not discriminate in recruiting, hiring or promotion based on race, ethnicity, sex / gender, sexual orientation, gender identity or expression, age, disability or protected veteran status or on any other basis or characteristic prohibited by applicable federal, state, or local law.

We proudly support and encourage people with military experience (active, veterans, reservists and National Guard) as well as military spouses to apply for CVS Health job opportunities.

Pay Range

The typical pay range for this role is :

$75,400.00 - $174,200.00

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.