Description

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.

Overview: CVS Caremark continues to lead with innovation by simplifying pharmacy benefits through modular, data-driven service models that enhance clarity and reduce operational complexity for clients and members alike. To accelerate this transformation, the organization is forming a new team focused on reimagining how service offerings are packaged-leveraging insights from the tiered service model to balance customization with scalable efficiency. This next-generation approach aims to deliver streamlined, cost-effective solutions that meet diverse client needs while maintaining flexibility and economic sustainability.

Position Summary

As a Senior Manager of PBM Innovation within Product, you will play a pivotal role in shaping and executing the next generation of how the PBM creates and executes new service models. You will be in a critical role that is both setting strategy and rolling up your sleeves to execute on this important initiative.

This individual contributor role is paramount in helping the team organize, orchestrate, and define how the PBM interacts with client and members in the future, organize business transformation ideas into new service models, and set strategy on future service model types based on the evolving marketplace, client feedback, and innovation in other consumer industries

Key Responsibilities Include:

• Lead new module service ideation and development through solution design, requirements gathering, and return on invested capital exercises
• Navigate complex and ambiguous opportunities, applying structured thinking to define scope, value, and execution pathways
• Monitor market trends and competitive activity to inform service strategy and identify whitespace opportunities that will inform the PBMs future model strategy

• Evaluates and provides recommendations to finance on model changes, pricing, and coordinates with finance under/over performance of each model
• Partners with marketing, sales ops, and the core functional areas to develop GTM strategies, targeting, and client transition guide paths

Your Day-to-Day Requires

• Meticulous organizational skills to manage various complex requirements, risks, and decisions that impact on our decision making for this initiative
• Bring a product/management consultant mindset to support the framing, member journey mapping, storytelling, and execution plan of each service module
• Navigating complex, often ambiguous tasks, to resolution
• Strong strategic thinking and analytical skills to assess opportunities, build business cases and have the experience and maturity to defend your idea(s) and make informed decisions
• Contain executive presence and storytelling skills
• Adaptability and curiosity to learn quickly and pivot as needed

Required Qualifications:

• 5+ years of experience within pharmacy benefits, managed consulting, or health tech experience. Ideal experience in PBM pricing or product, enterprise strategy, or start up product marketing
• 2+ years of client facing experience managing customers
• 7+ years of total professional work experience
• Proficiency with Microsoft Office tools, ROIC modeling, and using the appropriate meme during a teams call
• Comfortable with up to 20% of travel

Preferred Qualifications:

• Proven success in developing and launching new products, business transformation, and taking ideas from concept to commercialization
• Strong executive presence and self-sufficient operator mindset that can develop a strategy, determine the gaps, and execute a project plan
• Understanding of the PBM industry and its evolving landscape, and have conviction on where the market could be in 3-5 years
• Start-up experience is preferred but not required

Education:

• Bachelor's degree required, MBA a bonus, but not required

Pay Range

The typical pay range for this role is:

$82,940.00 - $182,549.00

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.

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

We anticipate the application window for this opening will close on: 12/26/2025

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