Senior Underwriting Analyst

Abarca Health•Miami, FL

9d•Hybrid

About The Position

In a few words… Abarca is igniting a revolution in healthcare. We built our company on the belief that with smarter technology we are redefining pharmacy benefits, but this is just the beginning… Our Drug Value Strategy team goes from managing day-to-day pharmacy network operations, developing standard reporting, to crafting pricing and underwriting strategies. Our Drug Pricing & Underwriting Strategy folks participate in client negotiations to establish rebates with key industry players while also creating attractive pricing strategies and formulary recommendations for potential clients. As our Senior Underwriting & Pricing Analyst you will be responsible for underwriting and analysis forecasts to help Abarca effectively manage risk when pricing prospective clients while providing an attractive overall cost of goods. This is an analytical role that will have a direct impact on helping clients reduce their spending on prescription drugs. You should be curious, data oriented, and a self-starter. You will have exposure to many areas within Abarca and will have a strong understanding of all drivers of pharmacy cost. This role will interface closely with our sales and finance teams. The fundamentals for the job… Perform underwriting analysis and risk assessment for new and/or renewal of large group contracts. Collaborate with field sales, clients, and internal management to review complex RFP's and make strategic recommendations that best fit the customer's needs. Develop and maintain complex financial models, integrating multiple data sources, to accurately model pricing scenario impact for new and existing business. Develop a keen understanding of cost drivers of the pharmacy benefit management business and forecast fixed and variable costs for prospects. Understand key rebate drivers and utilization changes based on industry trends to complete rebate forecasts. Identify outliers in prospective client claim data to ensure accuracy of pricing analyses. Forecast Abarca’s operating costs, ancillary fee revenues and clinical program return of investments so that Abarca can holistically understand revenues streams and customer savings opportunities for prospective and existing clients. Interface with internal and external business partners to develop and integrate additional product offerings. Utilize market intelligence to analyze competitive position on a case specific basis and develop financial comparisons. Negotiate and fully explain rate development, pricing components, and application of underwriting policies to present proposal recommendations and financial outcomes to internal and external constituents. Keep meticulous documentation, tracking and recording our pricing strategy and modeling approach for each prospect. Produce timely and accurate customer specific documents, deliverables, and account related information.

Requirements

Bachelor’s Degree or Master’s Degree Business Administration, Finance, Accounting, Engineering or Statistics (In lieu of a degree, equivalent relevant experience may be considered.)
6+ years of experience in underwriting, analytics, or similar roles within healthcare or pharmacy benefit management industry.
Experience managing and responding to large Request for Proposals (RFP's) with a demonstrated ability to identify customer needs and make strategic recommendations.
Experience with Excel.
Experience with root cause analysis and process improvement.
Experience developing dashboards, presentations, and contextualizing findings for different audiences (executive leadership, internal teams, clients, and prospective clients, etc.)
Excellent oral and written communication skills.

Nice To Haves

Experience with prescription drugs, pharmaceutical manufacturers, drug rebates, and contract negotiations.
Experience in SQL and Tableau.

Responsibilities

Perform underwriting analysis and risk assessment for new and/or renewal of large group contracts.
Collaborate with field sales, clients, and internal management to review complex RFP's and make strategic recommendations that best fit the customer's needs.
Develop and maintain complex financial models, integrating multiple data sources, to accurately model pricing scenario impact for new and existing business.
Develop a keen understanding of cost drivers of the pharmacy benefit management business and forecast fixed and variable costs for prospects.
Understand key rebate drivers and utilization changes based on industry trends to complete rebate forecasts.
Identify outliers in prospective client claim data to ensure accuracy of pricing analyses.
Forecast Abarca’s operating costs, ancillary fee revenues and clinical program return of investments so that Abarca can holistically understand revenues streams and customer savings opportunities for prospective and existing clients.
Interface with internal and external business partners to develop and integrate additional product offerings.
Utilize market intelligence to analyze competitive position on a case specific basis and develop financial comparisons.
Negotiate and fully explain rate development, pricing components, and application of underwriting policies to present proposal recommendations and financial outcomes to internal and external constituents.
Keep meticulous documentation, tracking and recording our pricing strategy and modeling approach for each prospect.
Produce timely and accurate customer specific documents, deliverables, and account related information.