Description

We're building a world of health around every individual - shaping a more connected, convenient and compassionate health experience. At CVS Health®, you'll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger - helping to simplify health care one person, one family and one community at a time.

We are seeking a dynamic and experienced executive to serve as Vice President, Head of Underwriting for Caremark's Health Plan Segment. This role will lead the client pricing, underwriting, analytics, RFP pricing, and client profitability functions for current and prospective PBM health plan clients, including specialty‑only clients, rebate‑only clients, medical rebates, and home infusion.

This is a senior financial leadership role, accountable for profitability, margin performance, and long‑term economic sustainability for a large portfolio. The leader will own client‑level financial outcomes, balancing growth, retention, competitiveness, and profitability across the full client lifecycle.

Key Responsibilities

Leadership and Strategy

• Lead and manage an organization of approximately 90 colleagues across underwriting, client pricing, RFP pricing, analytics, and client profitability management.
• Establish and execute the underwriting and client profitability strategy aligned to enterprise objectives and segment financial targets.
• Drive a culture of financial accountability, disciplined decision‑making, collaboration, and continuous improvement.
• Partner with senior leadership to define and monitor KPIs that measure pricing effectiveness, profitability, and long‑term client value.

Underwriting, Pricing, and RFP Management

• Oversee the end‑to‑end underwriting and pricing process for PBM health plan clients, including 250+ pricing events annually across new business, renewals, and mid‑term actions.
• Maintain direct accountability for RFP pricing strategy and execution, ensuring competitive, accurate, and profitable pricing outcomes.
• Ensure alignment across pricing offers, negotiations, and contracting with a clear focus on financial risk management and margin protection.
• Continuously review and refine underwriting and pricing processes to improve accuracy, efficiency, and scalability.
• Monitor market trends, competitor dynamics, and regulatory developments to inform underwriting and pricing strategy.
• Interact extensively with executive leadership to align on pricing positions, concessions, and overall underwriting approach.

Client Profitability and Financial Management

• Own responsibility for achieving segment‑level revenue and margin objectives through disciplined underwriting and active management of client economics.
• Develop and execute multi‑year financial plans to optimize near‑ and long‑term performance.
• Make informed decisions that balance client retention, growth opportunities, and profitability.
• Ensure strong linkage between underwriting assumptions, pricing decisions, and realized financial performance over time.

Analytics and Financial Insight

• Drive delivery of advanced analytics and consultative insights to support client financial performance and pharmacy trend management.
• Leverage data to identify financial risks, opportunities, and emerging trends at both the client and segment level.
• Translate complex financial and utilization data into clear, actionable insights for internal leaders, clients, and consultants.
• Partner with IT and data science teams to enhance analytical tools, financial models, and data infrastructure.

Client and Stakeholder Engagement

• Serve as a senior leader engaging directly with health plan clients, participating in financial deep dives when detailed discussion of pricing, profitability, or performance is required.
• Build and maintain strong relationships with external stakeholders, including clients and consultants, serving as a trusted underwriting and financial expert.
• Build strong internal partnerships across Client Services, Sales, Proposals, Supply Chain, Legal, Regulatory, Finance, Clinical, and Product teams.
• Act as a subject matter expert on PBM underwriting and client profitability, representing the organization externally as appropriate.

Team Development

• Mentor and develop leaders
• Foster a culture of continuous learning, high engagement, and performance in a fast‑paced, high‑stress, high‑visibility environment.
• Make talent development and succession planning a priority to maintain an industry‑leading organization.

Qualifications

• Approximately 15 years of healthcare experience, with deep PBM expertise, including client pricing and underwriting.
• Demonstrated success owning client‑level financial outcomes, including profitability, margin performance, or equivalent accountability.
• Extensive understanding of the PBM landscape, health plans, and multiple lines of business with varying funding arrangements.
• Must be comfortable meeting with clients
• Proven success partnering successful in a complex matrixed organizations.
• Strong executive communication skills with the ability to influence internal leadership and engage directly with health plan clients.
• In‑depth knowledge of PBM operations, market dynamics, and regulatory environment.
• Ability to operate independently, manage competing priorities, and delegate effectively.
• Proven experience developing teams
• Remote role with up to 25% travel.

Education

• Bachelor's degree required
• MBA valued

Pay Range

The typical pay range for this role is:

$275,000-$375,000


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 people

We 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.

For more information, visit https://jobs.cvshealth.com/us/en/benefits

Pay Range

The typical pay range for this role is:

$0.00 - $0.00

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 people

We 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.

For more information, visit https://jobs.cvshealth.com/us/en/benefits

We anticipate the application window for this opening will close on: 03/09/2026

Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.