VP & Chief Actuary Commercial & Individual Family Plan - Military Veterans

Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand — with heart at its center — our purpose sends a personal message that how we deliver our services is just as important as what we deliver.
 
Our Heart At Work Behaviors™ support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable.

Position Summary
The Chief Actuary Commercial & IFP will lead the Actuarial team to drive the profitable growth of our $35B Commercial and Individual businesses with sound risk management, pricing, sales support, and reserving practices. This team also supports the development of product designs that meet customer needs and will ensure compliance with all applicable legal and regulatory requirements. This team is responsible for anticipating and recognizing matters that materially affect financial integrity and making sound, unbiased reports on these issues.

Major Responsibilities

• Key responsibilities are three-fold:

  • Lead actuarial functions for the portfolio of Commercial & Individual businesses including Individual Exchange, Commercial (groups 2+), and Aetna’s Specialty business (Dental, Vision, Student Health, and International business)

  • Direct responsibility for UW functions supporting PEO and Student Health businesses, as well as rating system support for the broader underwriting organization

  • P&L responsibility for Aetna’s Stop Loss offerings which represent $3.2B of revenue.  Responsibilities include business strategy, pricing, underwriting, product development, and sales support.

• Oversees broad markets/functions/processes, e.g. national scope with spectrum of fully-insured, level-funded, and self-funded offerings, and significant influence across the business.

• Partner with heads of Commercial and Individual business to achieve business growth and financial goals by supporting development of pricing strategies, unique products, and strategic growth initiatives, while managing enterprise risk

• Determines key factors affecting the financial plan and proactively influences those factors to align with CVS Health's goals based on knowledge of the economy, industry trends and marketplace conditions.

• Partners with Sales and Product to develop customer-focused benefit offerings that meet evolving needs of plan sponsors, including cross-selling commercial and specialty products

• Establishes and executes risk assessment, pricing, and product offerings necessary to achieve future growth and margin commitments.

• Regularly collaborate with internal cross-functional and external stakeholders

• Participates on work groups/forums representing CVS Health to external constituents.

• Leverages CVS assets to drive growth and persistency of products that result in members with long-term engagement in programs that improve their health.

• Negotiates and influences sound corporate decisions by adhering to established risk management principles.

• Ensures legal and regulatory compliance.

• Ensures organizational structure maintains pace with growing business needs, providing opportunities for individual career growth.

• Leads, hires, develops, and retains skilled talent (mobility, career path, engagement, work-life balance) necessary to execute stated business missions.

• Supports CVS Health in attracting, retaining, and engaging a diverse and inclusive consumer-centric workforce that delivers on our purpose and reflects the communities in which we work, live, and serve.

Location: East Coast (Remote)

Required Qualifications

• 15+ years of relevant Actuarial and/or Underwriting experience.

• Commercial business knowledge required and expertise will be valued.

• Strong people leadership experience

• Innovative thinker

• Proven leadership skills and strong cross-functional relationships with sales and other internal organizations.

• Experience in anticipating customer needs and requirements as well as facilitating and negotiating using tact and diplomacy.

• Demonstrated success in communicating effectively with internal and external constituents.

• Proven ability to negotiate internal and external cross-functional business issues

• Demonstrate a commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.

• Member of American Academy of Actuaries (MAAA)

• Travel as needed

Preferred Qualifications

• FSA

Education

Bachelor’s degree (required)

The typical base pay range for this role is:

$250,000.00 - 350,000.00

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.

In addition to your compensation, enjoy the rewards of an organization that puts our heart into caring for our colleagues and our communities.  The Company offers a full range of medical, dental, and vision benefits.  Eligible employees may enroll in the Company’s 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees.  The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners.  As for time off, Company employees enjoy Paid Time Off (“PTO”) or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies. 
 
For more detailed information on available benefits, please visit jobs.CVSHealth.com/benefits

We anticipate the application window for this opening will close on: 03/17/2025

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

CVS Health requires certain colleagues to be fully vaccinated against COVID-19 (including any booster shots if required), where allowable under the law, unless they are approved for a reasonable accommodation based on disability, medical condition, religious belief, or other legally recognized reasons that prevents them from being vaccinated. 

You are required to have received at least one COVID-19 shot prior to your first day of employment and to provide proof of your vaccination status or apply for a reasonable accommodation within the first 10 days of your employment. Please note that in some states and roles, you may be required to provide proof of full vaccination or an approved reasonable accommodation before you can begin to actively work.

CVS Health is committed to recruiting, hiring, developing, advancing, and retaining individuals with disabilities. As such, we strive to provide equal access to the benefits and privileges of employment, including the provision of a reasonable accommodation to perform essential job functions. CVS Health can provide a request for a reasonable accommodation, including a qualified interpreter, written information in other formats, translation or other services through ColleagueRelations@CVSHealth.com If you have a speech or hearing disability, please call 7-1-1 to utilize Telecommunications Relay Services (TRS). We will make every effort to respond to your request within 48 business hours and do everything we can to work towards a solution.