Ld Dir, Underwriting

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

The Director, PBM Contract Management applies complex financial, contractual, and business strategies to large, high-impact agreements negotiated between CVS Health and its PBM clients. This interdisciplinary leadership role plays a critical part within the broader Client and Finance organization. The position is responsible for developing and maintaining 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.

Key responsibilities will include:

Contract Execution & Governance

• Ability to build and lead a specialized team responsible for the effective execution of contract management obligations
• Oversee the full contract lifecycle, including drafting, negotiation, approval, execution, and renewal
• Ensure proper documentation, execution, and handoff of contracts across internal stakeholders
• Establish and enforce contract governance processes, documentation standards, and approval workflows
• Track contract status, performance, and closure metrics to ensure accountability
• Monitor ongoing compliance with contractual obligations and performance guarantees

Contract Strategy & Negotiation

• Lead the development and execution of contract strategies across clients, vendors, and/or providers
• Negotiate complex contract terms, including financial arrangements, performance guarantees, service level agreements, and the RTN process
• Drive strategic partnerships with internal stakeholders, including Sales, Underwriting, Legal, Finance, Proposals, and Consultant Relations
• Partner with Finance, Legal, and business leaders to ensure contracts optimize cost, mitigate risk, align with business objectives, and are executed properly
• Drive efforts to enhance organizational processes through the use of best practices and the latest tools
• Anticipating customer needs while negotiating with tact and diplomacy

Leadership Competencies

• Foster a process-driven culture focused on controls and risk mitigation
• Lead cross-functional efforts to clarify contract intent, align execution, and resolve potential disputes
• Guide the team in managing challenging deadlines while ensuring deliverables are completed with a high degree of accuracy
• Ability to simplify complex contract constructs and convert to actionable solutions
• Executive-level communication skills, including presenting to senior leadership
• Cultivate and maintain relationships with key internal partners
• Serve as escalation point for complex contract issues and negotiations

Financial & Risk Management

• Identify and mitigate contractual risk exposure (financial, legal, operational)
• Ensure all contracts meet legal, regulatory, and internal compliance requirements, including development of non-standard language in partnership with Legal
• Support budgeting, forecasting, and financial modeling tied to contract outcomes
• Maintain knowledge of regulatory developments to ensure terms remain compliant
• Identify and resolve process gaps across contracting, finance, and operational workflows

Preferred Qualifications

• Demonstrated organizational skills and the ability to adapt and prioritize effectively while managing multiple projects and challenging timelines.
• Assertive self-starter with the ability to make decisions independently.
• Strategic thinker with strong financial acumen
• Ability to work in a fast-paced, high-pressure environment
• Excellent presentation skills and ability to communicate across all levels
• Experience building strong cross-functional relationships, both internal and external
• Demonstrated ability to influence and negotiate internal and external cross-functional business issues

Required Qualifications

• 10+ years of experience with contract/financial negotiation and PBM knowledge
• Up to 10% travel may be required

Education

• Bachelor's degree or equivalent work experience required
• Master’s degree is preferred

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.  This position also includes an award target in the company’s equity award program. 
 

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

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

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