Sr Director, PBM Strategic Relations - PBM Pricing & Procurement at RxBenefits

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Full Time

Start Date

Immediate

Expiry Date

08 Jul, 26

Salary

200000.0

Posted On

09 Apr, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Pharmacy benefit management, Contract negotiation, Strategic planning, Financial modeling, Leadership, Project management, Relationship management, Critical thinking, Communication, Team building, RFP management, Compliance, Vendor management, Analytical skills, Contractual terms interpretation

Industry

Insurance and Employee Benefit Funds

Description

The Senior Director, PBM Strategic Relations – PBM Pricing & Procurement is uniquely positioned to advance strategic relationships and initiatives with PBMs and other vendor partners while supporting the company’s vision, values, strategic plan, and financial objectives. This role is responsible for overseeing and maintaining PBM financial and contractual relationships, including the annual pricing refresh and contract negotiations, as well as providing internal support for client-related redlines and RFPs. The ideal candidate demonstrates a strong understanding of financial and strategic pharmacy management practices, the ability to communicate clearly and effectively with internal and external executive leadership, and proven contract negotiation skills. In partnership with cross-functional RxBenefits leaders, this role will help foster a client-centric culture of collaboration, advocacy, and execution to meet the financial needs of the market and RxBenefits. The Senior Director, PBM Strategic Relations - PBM Pricing & Procurement reports directly to the Vice President of PBM Strategic Relations. Essential Job Responsibilities Include: * Lead the review, negotiation, and ongoing management of Pharmacy Benefit Manager (PBM) Master Service Agreements (MSAs) and related amendments. * Represent the organization in legal to legal discussions to negotiate complex PBM contractual terms and conditions. * Own end to end PBM annual pricing refresh strategies, including development, negotiation, evaluation, and final review across all PBM partnerships. * Partner with cross functional stakeholders to assess, interpret, and align on requested MSA terms and conditions to ensure organizational readiness and compliance. * Provide ongoing support and cross functional education related to PBM pricing strategies, including changes to pricing optics, contractual terms, and market driven events. * Collaborate closely with analytics teams to ensure financial modeling and assumptions are fully aligned with contractual pricing structures and negotiated terms. * Support responses to client Requests for Proposal (RFPs) by interpreting and applying PBM contractual language accurately and consistently. * Partner with RxBenefits Legal to review and respond to client Administrative Services Agreement (ASA) and Pricing Exhibit redlines, ensuring alignment with PBM contractual obligations and business strategy. * Contribute to additional strategic initiatives, projects, and operational priorities as assigned. Required Skills / Experience: * 10+ years of professional experience in Pharmacy Benefit Management (PBM). * 5+ years of progressive leadership experience. * Bachelor’s degree or equivalent experience. * Demonstrated expertise and understanding of PBM contractual terms and conditions. * Ability to communicate effectively with internal and external executive leadership. * Strong organization skills with exceptional attention to detail and a sense of urgency. * Advanced interpersonal, communication, and collaborative leadership skills. * Strong independent critical thinking skills. * Proven team building, relationship management, and project management capabilities. * Ability to excel in a fast paced, rapidly growing organizational environment. * Ability to communicate with PBM vendors in a respectful and meaningful manner to maintain positive relationships. * Proven ability to lead and manage a high performing team. Based on relevant market data and other factors, the anticipated hiring range for this role is $160,000 to $200,000 annually. Final compensation rates will be determined based on various factors, including but not limited to experience, skills, knowledge, and internal equity considerations. This role is also short-term incentive eligible. Incentive amounts will vary by individual and business goals. We are committed to fair and equitable compensation practices. The final salary offered to the selected candidate may vary from the posted range due to individual qualifications. Our goal is to ensure that all teammates are compensated fairly and competitively based on their contributions to our organization. RxBenefits is also committed to providing best in class benefits to our teammates. We offer a robust total rewards package that includes: * Remote first work environment * Choice of a HDHP or PPO Medical plan, we pay 100% of the premium for the HDHP for you and your eligible family members * Dental, Vision, Short- and Long-Term Disability, and Group Life Insurance that we also pay 100% of premiums (for your family too on Dental and Vision) * Additional buy-up options for Short- and Long-Term Disability and Life Insurance * 401(k) with an employer match up to 3.5% available after 60 days * Community Service Day to give back and support what you love in your community * 10 company holidays including MLK Day, Juneteenth, and the day after Thanksgiving plus a floating holiday to use as you like * Reimbursements for high-speed internet, we’ll send you a computer and monitors to help you do your best work * Tuition Reimbursement for accredited degree programs * Paid New Parent Leave that can be used for adoption or birth * Pet insurance to protect your furbabies * A robust mental health benefit and EAP service through Spring Health to support you when you need it most

Responsibilities

The Senior Director oversees PBM financial and contractual relationships, including annual pricing refreshes and complex contract negotiations. They also partner with cross-functional teams to support client RFPs and ensure organizational compliance with contractual obligations.