Senior Financial Analyst

Overview

Rx Benefits is hiring! We are adding a Senior Financial Analyst to our growing Pricing Team, reporting to the Senior Manager, Financial Analytics. The Analyst may work remotely or in our Birmingham, AL headquarters. This Senior Financial Analyst is a key contributor to the success of growing Rx Benefits. The role focuses on strategic pricing responses to Request for Proposals (RFPs), Comparable Analyses, and additional ad hoc reports that support the winning new business.

The Senior Financial Analyst is responsible for ensuring that analyses and reports are accurate from the initial data receipt to the final review upon completion. This position offers a unique opportunity to collaborate with cross-functional teams, contribute to strategic decision-making, and drive the success of our organization. Additionally, the senior role requires responsibilities to mentor personnel, support the leadership team on more complex business functions, and act as the point of contact on various department and cross-functional projects.

• Lead and participate in strategic and cross-functional meetings, ensuring alignment on business goals and operational efficiencies.
• Oversee and prioritize workload distribution, ensuring optimal resource allocation and timely project execution.
• Create, update, and standardize Standard Operating Procedures (SOPs) to ensure clarity and compliance across teams.
• Create, maintain, and lead training initiatives including conducting training sessions, introducing new hires to job responsibilities, company policies, and procedures.
• Organize, refresh, and enhance training materials to support ongoing employee development and knowledge retention.
• Act as a dedicated mentor for 1-2 new hires/junior personnel, assisting them to adapt and grow into their roles, sharing insights, and best practices to help them succeed.
• Own and manage template updates including pricing, formulary, legal, product, and formulary changes while identifying opportunities to streamline and improve template design and functionality to enhance efficiency.
• Perform accuracy reviews and additional support functions for the leadership team on Rx Benefits pricing updates across all partner PBMs.
• Generate and deliver ad hoc reports across various business topics providing timely and accurate data insights to support decision-making processes and drive organizational improvements across departments.
• Be a Subject Matter Expert (SME) and dedicated resource for more complex and high-profile BD territories including Strategic, Hospital, and National.
• Employ a consultative mindset with the SPA and BD team to gather complete information which includes new opportunity claims files, rebate reporting, plan designs, incumbent/renewal contracts, competing offers, group census, and additional financial/clinical reporting.
• Perform deep dives into claims files, validating various data sets from multiple vendors and PBMs to ensure Rx Benefits has the necessary requirements for repricing, formulary disruption analysis, clinical product modeling, and third-party product solutions.
• Be a Subject Matter Expert (SME) on the repricing process, results, and applicability to modeling including discount guarantees, discount schedules, channel management, B/G classifications, specialty designations, rebate eligibility, and utilization trends.
• Be a Subject Matter Expert (SME) on the formulary disruption process, results, and applicability to modeling including incumbent designations, network disruption, Rx Benefits designations, formulary exclusion impact, member impact, and formulary alternatives in connection with new prospect benefit plan designs.
• Apply the appropriate pricing schemes for each new business opportunity, understanding their applicability based on pricing models, formulary options, retail networks, maintenance program selections, specialty networks, fees, plan tier structure, new prospect member size, marketing agreements, broker commissions, drug utilization, and government regulations.
• Be a Subject Matter Expert (SME) on dozens of medical vendor/PBM contracts including utilization rules, B/G classification, discount…