Pharmacy PBM Actuary & Strategy Lead

Lockton, Inc.; Kansas City (MO); On-site; USD 130,000 - 190,000; Full time

Job summary

Lockton, Inc. is seeking a Pharmacy Actuary to bridge pharmacy benefit strategy, pricing, procurement, and actuarial projections.

You will translate RFP assumptions, rebates, formulary strategies, and market trends into actionable financial inputs for pricing and client projections, collaborating with Pharmacy and Health Actuarial teams. The role requires ASA with at least five years of actuarial or financial analytics experience in a PBM environment; FSA is preferred.

Qualifications

• ASA designation and minimum of five years actuarial or financial analytics experience in a PBM.
• Demonstrated PBM pricing knowledge: contracts, guarantees, rebates, formulary strategies.
• Strong understanding of pharmacy utilization, trend, specialty drugs, and regulations.
• Experience developing or overseeing actuarial models, forecasting tools, and management reporting.
• Excellent analytical and problem-solving skills to quantify financial impacts and risks.
• Ability to translate complex pharmacy concepts into clear actuarial assumptions and business recommendations.
• Strong cross-functional collaboration with Pharmacy, Health Actuarial, analytics, consulting, procurement, and vendor teams.
• Proficiency with actuarial, data analysis, modeling, and reporting tools.

Responsibilities

• Actuarial Integration: liaison between Pharmacy and Health Actuarial teams to reflect strategies and market dynamics in cost projections.
• Pharmacy Financial Analysis and PBM Strategy: model proposals, guarantees, rebates, pricing methodologies, formulary strategies, and contractual provisions; translate into projections and assist negotiations.
• Projection Validation: validate vendor projections and assess risks, opportunities, and sensitivities.
• Trend and Emerging Cost Drivers: evaluate utilization, trends, and regulatory changes to improve projection accuracy.
• Tools, Models, and Reporting: develop pharmacy-specific methodologies, models, and reporting aligned with health benefits strategy.
• Pharmacy Consulting: provide actuarial analysis on Medicare Part D and 340B programs.
• Stakeholder Communication: explain complex concepts to technical and nontechnical audiences.
• Documentation, Governance, and Compliance: maintain documentation and ensure regulatory and governance compliance.

Skills

ASA designation

PBM knowledge

Pharmacy market knowledge

Modeling and reporting

Communication and collaboration

Analytical skills

Vendor negotiations

Education

ASA designation

FSA preferred

Job description

Lockton, Inc. is seeking a Pharmacy Actuary to bridge pharmacy benefit strategy, pricing, procurement, and actuarial projections.

You will translate RFP assumptions, rebates, formulary strategies, and market trends into actionable financial inputs for pricing and client projections, collaborating with Pharmacy and Health Actuarial teams. The role requires ASA with at least five years of actuarial or financial analytics experience in a PBM environment; FSA is preferred.