Pharmacy Benefits Management (PBM) Underwriting, Senior Analyst

CVS Health; Phoenix (AZ); On-site; USD 47,000 - 122,000; Full time

Job summary

CVS Health is seeking a Senior Analyst, PBM Contract Manager to apply complex financial, contractual, and business strategies to large PBM agreements. The role supports client retention, mitigates risks, and ensures negotiated terms are reflected in contracts across internal teams.

Responsibilities include drafting and renewing contracts, coordinating with Sales, Underwriting, Legal, and Finance, and guiding execution with governance processes to drive profitable pricing and client satisfaction.

Qualifications

• Minimum 4 years of financial analysis, pricing, or underwriting experience.
• Proficient in complex data analysis using Excel.
• Experience drafting, negotiating, and managing contracts.
• Ability to coordinate with Sales, Legal, Finance, and other stakeholders.

Responsibilities

• Oversee review of pricing commitments and assist in drafting, negotiating, and renewing full contracts.
• Support contract strategies across clients, vendors, and providers.
• Ensure governance, documentation standards, and approved workflows are followed.
• Collaborate with internal stakeholders to memorialize negotiated terms and conditions.

Skills

Financial analysis

Pricing

Contract negotiations

Cross-functional collaboration

Education

Bachelor’s degree in Finance/Business/Related field

Master’s Degree (preferred)

Tools

Microsoft Excel

Microsoft Office Suite

Job 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.

Position Summary

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.

The Senior Analyst, PBM Contract Manager role applies complex financial, contractual, and business strategies to large, high-impact agreements negotiated between CVS Health and its PBM clients. This interdisciplinary role plays a critical part within the broader Client and Finance organization. The position is responsible for assisting in the maintenance and development of contracts that reflect evolving industry strategies in a rapidly changing healthcare landscape. Key responsibilities include supporting health plan client retention, influencing operational execution to ensure negotiated intent is achieved, mitigating financial and relationship risks, facilitating strategic discussions with health plan clients and consultants, and negotiating contracts that accurately memorialize agreed-upon terms and conditions. Success in this role directly impacts CVS Health's ability to attract and retain clients while supporting the company's overall financial objectives and risk management strategies.

Additional Responsibilities

• Oversee the review of pricing commitment documents and assist in drafting, negotiation, approval, execution, and renewal of full contracts
• Support the execution of contract strategies across clients, vendors, and/or providers.
• Adhere to contract governance processes, documentation standards, and approved workflows.
• Build strategic partnerships with internal stakeholders, including Sales, Underwriting, Legal, Finance, Proposals, and Consultant Relations
• Ensure proper documentation, execution, and handoff of contracts across internal stakeholders.

Your success will be determined by your ability to communicate contracting edits to internal partners and to minimize errors. You will need to execute and implement constantly evolving legal strategies in response to market dynamics to provide competitive, profitable, and attractive pricing offers. You will have a measurable impact in this role, by helping CVS Health, and our clients win, in a competitive marketplace.

Required Qualifications

• 4 or more years’ financial analysis, pricing, or corporate underwriting experience required
• Proficient in Microsoft Excel in complex data analysis

Preferred Qualifications

• Comprehensive knowledge of PBM finance
• Proficiency in Microsoft Office Suite (e.g., Excel, Word, PowerPoint, Outlook).
• Experience managing complex legal documents
• Ability to interact with others in a professional manner and help foster teamwork and knowledge sharing to complete key tasks
• Strong organizational, multi-tasking, and follow up skills
• Ability to interact with all level of management, including VPs and executives
• Prior experience working across many different groups within an organization
• Strong presentation and communication skills with experience presenting to various business groups
• Master's Degree

Education

Bachelor’s Degree preferably in Finance, Political Science or Pre-Law, Business, Economics, or related field; or equivalent work experience

Anticipated Weekly Hours

40

Time Type

Full time

Pay Range

The Typical Pay Range For This Role Is

$46,988.00 - $122,400.00

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.

Great Benefits For Great People

We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families.

This full‑time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well‑being of colleagues and their families. The benefits for this position include medical, dental, and vision coverage, paid time off, retirement savings options, wellness programs, and other resources, based on eligibility.

Additional details about available benefits are provided during the application process and on Benefits Moments.

We anticipate the application window for this opening will close on: 11/17/2026

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