Senior Analyst (Enterprise Risk Management)

At CVS Health, we’re building a world of health around every consumer and surrounding ourselves with dedicated colleagues who are passionate about transforming health care.

As the nation’s leading health solutions company, we reach millions of Americans through our local presence, digital channels and more than 300,000 purpose-driven colleagues – caring for people where, when and how they choose in a way that is uniquely more connected, more convenient and more compassionate. And we do it all with heart, each and every day.

Position Summary
CVS Health is seeking a Sr. Analyst to join our team! This position will be key in supporting the implementation of the Enterprise Risk Management (ERM) framework that spans all of CVS Health including the Health Care Benefit segment (HCB), Health Services (HS), Pharmacy and Consumer Wellness (PCW) Segment, and Health Care Delivery (HCD) Segment.  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 this process will be applied to assess the quantification of strategic, financial and operational risk exposures and loss events that will help provide senior management with better understanding and prioritization of their risks. This individual will be exposed to preparing presentation materials for both internal and external stakeholders. The individual in this position will support the update of enterprise economic capital model which will provide an opportunity for the individual to engage with, and have a deeper understanding of, the different business segments within CVS Health, the correlation between different segment, and the quantified risks inherent therein based on robust assumptions.

The optimal candidate would have a strong technical 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 regulatory related communication skills, and a proven ability to move complex projects through to completion.

• Help design and implement the roadmap of continuously improving robust risk quantification techniques to facilitate evaluation and prioritization of financial, strategic and operational risks.
• Support preparation of the Own Risk Solvency Assessment (ORSA) summary report and provide assistance in preparation of state regulatory questionnaires and rating agency presentation materials.
• Adapt to familiarize yourself with a complex Excel model in a relatively short timeframe, understanding the data flow, model component and structure, and the rationale behind business context in order to maintain 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 ability to communicate complex concepts in a concise manner in both written in verbal presentations
• Support qualitative risk management projects as needed (e.g., interact with internal and external business partners regarding regulatory communication)

Required Qualifications

• 2+ years’ experience in the actuarial or finance field with exposure to financial/statistical modeling
• 2+ years' experience with MS Office skills (MS Excel, PowerPoint, Word, Access, etc.)
• Experience in risk management programs

Preferred Qualifications

• Strong knowledge in one or more languages (e.g., VBA, SQL)
• Experience with financial models and statistical software (e.g.,  @risk (a add-in function in Excel to enable Monte Carlos Simulation, R, etc.) to enable rapid development and implementation of program capabilities.
• 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, fast-learner, receptive to feedback, change agent mindset.

Education

• Bachelors degree in Actuarial, Finance, Mathematics, Statistics, or Economics majors or equivalent work experience (HS diploma + 4 years relevant experience).

Anticipated Weekly Hours

Time Type

Pay Range

The typical pay range for this role is:

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. 
 

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

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