Pharmacy Financial Analyst

About the position

As a member of the Specialty Practice, the Pharmacy Financial Analyst will support the MMA East Pharmacy Practice, ReinventRx. This individual will be responsible for providing financial analysis utilizing modeling tools to evaluate pharmacy benefit managers including MMA East Rx's Coalitions as well as direct contract PBM solutions including supporting financial evaluations of various PBMs and pricing models working in concert with the Pharmacy Team and MMA East Account Management Team of Account Managers, Underwriters and Client Service Representatives.

Responsibilities

• Develop and maintain models to compare responses from RFP bidders, ensuring accurate analysis of pharmacy benefit offerings and pricing structures in conjunction with the MMA East Account Manager and Underwriter on behalf of clients to secure optimal, cost-competitive pharmacy procurement.
• Conduct thorough reconciliations of discounts and rebates to ensure compliance with contract terms and accurate financial reporting.
• Generate and analyze ad hoc reports related to various clients, including domestic pharmacy wrap support analysis, 340B to AWP reviews, and NADAC to AWP reviews.
• Maintain a firm understanding of key PBM contract terms and conditions that impact the overall value of contracts, ensuring alignment with organizational goals.
• Utilize Excel for data analysis, reporting, and visualization. Leverage SQL for data extraction and manipulation as needed and other data management platforms as appropriate.
• Work closely with cross-functional teams, including underwriting, account management, sales, and marketing, to support strategic initiatives and improve pharmacy benefit relationships.
• Assist with project management tasks, including leading meetings with clients and presenting project results and key industry updates.
• Identify opportunities for process improvements and efficiencies within pharmacy benefit analysis and reporting.
• Assist with the yearly PBM marketplace evaluation through a detailed RFI including analyzing various formulary, networks, pricing models and clinical management programs available in the market currently to help support a streamlined RFP process as well as inform Account Teams, Clients and Prospective Clients of available market solutions to help optimize their overall pharmacy spend.

Requirements

• Bachelor's degree in Finance, Business Administration, Pharmacy, Mathematics, Statistics, Public Health, or a related field.
• Minimum of four years prior work experience with prescription drug benefit design and pricing in the Benefits Brokerage, Consulting, or Insurance industry.
• Proven experience in financial analysis, preferably within the pharmacy benefits or healthcare industry.
• Proficiency in Microsoft Excel, including advanced functions and data analysis tools; knowledge of SQL is a plus.
• Strong analytical skills with the ability to interpret complex data and provide actionable insights.

Nice-to-haves

• Strong organizational, analytical skills and strong attention to detail.
• Excellent troubleshooting, decision making and problem-solving skills.
• Proven ability to support multiple projects simultaneously with attention to detail and process.
• Ability to multi-task and work in a fast-paced environment with the ability to manage multiple projects simultaneously.
• Excellent verbal and written communication skills, with the ability to present findings to stakeholders.
• Ability to prioritize projects and meet deadlines.
• Ability to follow through on and successfully execute tasks while adhering to specified quality standards.
• Must be able to effectively interact with people internal and external customers.
• Demonstrate high emotional intelligence (eq) in all matters related to client and internal interactions.
• Intermediate knowledge of MS Office Suite (Word, Excel, Access, Outlook), working knowledge of pivot tables, Power BI and SQL with query writing experience preferred.
• Strong client service orientation and ability to respond to communications effectively and in a timely manner.
• Self-starter attitude with the ability to work individually and as part of a team.

Benefits

• Health and welfare
• Tuition assistance
• 401K
• Employee assistance program
• Domestic partnership benefits
• Career mobility
• Employee network groups
• Volunteer opportunities
• Other programs