Principal, Underwriting-1

MedImpact Healthcare Systems Inc.; San Diego (CA); On-site; USD 114,622 - 206,321; Full time

Benefits offered by this job

Medical / Dental / Vision / Wellness |

Paid Time Off / Company Paid Holidays

Incentive Compensation

401K with Company match

Life and Disability Insurance

Tuition Reimbursement

Employee Referral Bonus

Job summary

MedImpact Healthcare Systems, Inc. is seeking a Principal, Underwriting to provide detailed financial documents and align opportunities with corporate strategy. The role focuses on revenue estimates, profitability analyses, and pricing strategies for existing and new clients.

You will work with Sales and clients, monitor bid offerings, review contractual terms, and contribute to pricing models, while maintaining compliance with PBM industry standards and internal policies.

Qualifications

• BA/BS Degree; 8+ years related experience and 8+ years of SME in respective area(s).
• PBM industry knowledge and pricing functions experience.
• Proficiency in Microsoft Office Excel and Word.

Responsibilities

• Provides revenue estimates and profit and loss analysis for new and existing clients based on RFPs or client stipulations.
• Assists in strategy development around financial quotes to optimize cost performance and maximize company revenue.
• Identifies cost factors and evaluates standard business costs on an ongoing basis.
• Monitors bid offerings and provides executive reporting on market evolution and competitive positioning.
• Interprets financial policies and pricing terms to support underwritten agreements.

Skills

Financial analysis

Pricing strategy

Negotiation

Presentation

Interpersonal skills

Problem solving

Education

BA/BS Degree

Tools

Microsoft Excel

Microsoft Word

Job description

Exemption Status: United States of America (Exempt) $114,622 - $160,472 - $206,321 “Pay scale information is not necessarily reflective of actual compensation that may be earned, nor a promise of any specific pay for any selected candidate or employee, which is always dependent on actual experience, education, qualifications, and other factors. A full review of our comprehensive pay and benefits will be discussed at the offer stage with the selected candidate.”

This position is not eligible for Sponsorship.

MedImpact Healthcare Systems, Inc. is looking for extraordinary people to join our team! Why join MedImpact? Because our success is dependent on you; innovative professionals with top notch skills who thrive on opportunity, high performance, and teamwork. We look for individuals who want to work on a team that cares about making a difference in the value of healthcare. At MedImpact, we deliver leading edge pharmaceutical and technology related solutions that dramatically improve the value of health care. We provide superior outcomes to those we serve through innovative products, systems, and services that provide transparency and promote choice in decision making. Our vision is to set the standard in providing solutions that optimize satisfaction, service, cost, and quality in the healthcare industry. We are the premier Pharmacy Benefits Management solution!

Job Description Summary

The Principal, Underwriting provides detailed and timely documents to assist departments to obtain and maintain clients. This position ensures that financial opportunities are aligned with corporate strategies.

Essential Duties and Responsibilities

• Provides revenue estimates and profit and loss analysis for new & existing clients based on identified requirements in Request for Proposal (RFP) or client stipulations.
• Assists in the strategy development around financial quotes that provides optimum cost performance for clients as well as maximize the revenue opportunity for the company.
• Identifies cost factors and provides on-going evaluation of standard business costs.
• Continually assesses potential client needs in relation to corporate business objectives.
• Identifies process improvement opportunities.
• Accounts for revenue opportunities on new business by working with the Sales Exec on pricing.
• Utilizes market analysis in development of new product price offerings.
• Provides trend statistics that influence drug cost to be used in price modeling as well as responses to Request for Information (RFI).
• Monitors and tracks the various bid offerings to provide executive reporting around how the market is evolving and identify areas where MedImpact needs to improve to stay competitive.
• Monitors, analyzes, and reports on variances in profit and loss statement versus underwriting results.
• Reviews and provides guidance around contractual language pertaining to discount guarantees, rebate offer and product & service pricing to ensure the agreement supports what was underwritten.
• Provides interpretation of financial policies, governmental legislation, accounting theory, or customer financial regulations that attribute to financial performance outcomes.
• Participates in discussions with clients and/or consultants around the financial offerings being proposed by MedImpact that address questions around pricing, caveats, and outcomes.

Other duties may be assigned.

Supervisory Responsibilities

No supervisory responsibilities.

Client Responsibilities

This is an internal and external client facing position that requires excellent customer service skills and interpersonal communication skills (listening/verbal/written). One must be able to; manage difficult or emotional client situations; Respond promptly to client needs; Solicit client feedback to improve service; Respond to requests for service and assistance from clients; Meet commitments to clients.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

BA/BS Degree; 8+ years related experience and 8+ years of SME in respective area(s); (or equivalent combination of education and experience).

Computer Skills

To perform this job successfully, an individual should have knowledge Microsoft Office Excel and Word software.

Certificates, Licenses, Registrations

None

Other Skills and Abilities

PBM industry knowledge Knowledge of liability exposure, cost accounting, and pricing functions in PBM or healthcare arena. Excellent negotiation and presentation skills. Excellent interpersonal skills with the ability to effectively interact with all levels of internal and external business partners. Reasoning Ability Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form. Mathematical Skills Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations. Language Skills Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization. Ability to effectively present information to top management, public groups, and/or boards of directors.

Competencies

• Business Acumen
• Directing Others
• Organizational Agility
• Conflict Management
• Drive for Results
• Political Savvy
• Customer Focus
• Innovation Management
• Strategic Agility
• Decision Quality
• Managerial Courage

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee is regularly required to stand; walk; use hands to finger, handle, or feel and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Ability to maintain clear near visual acuity at approximately 20 inches or less (i.e., “close vision”) to accurately read fine print, view computer screens, and handle small objects. Requires adequate color vision and depth perception to support safety and precision in detail-oriented tasks.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This position may regularly be exposed to or encounter moving mechanical parts, high, precarious places, fumes, or airborne particles, toxic or caustic chemicals, outdoor weather conditions, risk of electrical shock or vibration. The noise level in the work environment is usually moderate (examples: business office with computers and printers, light traffic).

Work Location

This position works on-site at the San Diego Headquarters or other company location (or from a remote location with management approval based on business requirements). Must provide adequate support to internal clients; be available for regular interactions and coordination of work with other employees, colleagues, clients, or vendors; as well as be available to facilitate effective decisions through collaboration with stakeholders.

Working Hours

This is an exempt level position requiring the incumbent to work the hours required to fully accomplish job responsibilities and meet deadlines for work deliverables. The individual must have the flexibility to work beyond traditional hours and be able to work nights, weekends or on holidays as required. Work hours may be changed from time to time to meet the needs of the business. Typical core business hours are Monday through Friday from 8:00am to 5:00pm.

Travel

This position may require domestic travel.

The Perks

• Medical / Dental / Vision / Wellness Programs
• Paid Time Off / Company Paid Holidays
• Incentive Compensation
• 401K with Company match
• Life and Disability Insurance
• Tuition Reimbursement
• Employee Referral Bonus

MedImpact, is a privately-held pharmacy benefit manager (PBM) headquartered in San Diego, California. Our solutions and services positively influence healthcare outcomes and expenditures, improving the position of our clients in the market. MedImpact offers high-value solutions to payers, providers and consumers of healthcare in the U.S. and foreign markets.

Equal Opportunity Employer, Male/Female/Disabilities/Veterans OSHA/ADA: To perform this job successfully, the successful candidate must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.

MedImpact was founded more than three decades ago by a pharmacist and independent drug store owner who saw firsthand how families struggled with the high cost of prescriptions, and how it impacted their lives, financial security, and health. So, he started MedImpact to make prescription benefits understandable and accessible. While we have grown to be one of the leading PBMs in America, we remain as committed to these principles today as we did when it all began.