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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.

CVS Caremark is driving innovation by simplifying pharmacy benefits through modular, data-driven service models that make processes clearer and reduce operational complexity for both clients and members. To accelerate this transformation, we are building a new team focused on reimagining how service offerings are packaged—using insights from tiered service models to achieve the right balance between tailored solutions and scalable efficiency. This next-generation approach aims to deliver streamlined, cost-effective solutions that meet a range of client needs, while maintaining the flexibility and economic sustainability necessary for long-term success. Candidates for this role must demonstrate an innovative mindset and a proven ability to execute and deliver impactful results.

Job Summary:

The Director, PBM Product will spearhead a strategic initiative centered on designing and implementing tiered service models and transforming the PBM operating model. This leader will drive cross-functional transformation, develop scalable frameworks, and ensure strategic alignment with business objectives to deliver innovative solutions for the Pharmacy Benefit Management business. The ideal candidate will thrive in dynamic environments, frequently “context switching” between diverse projects and priorities and will consistently demonstrate creative problem-solving and execution excellence.

Key Responsibilities

+ Lead the development and execution of innovative tiered service models for PBM, ensuring alignment with enterprise strategy and evolving client needs.

+ Drive transformation initiatives for the operating model by partnering with senior leaders and stakeholders to secure buy-in and maximize program impact.

+ Develop and implement frameworks, standards, and models that elevate service excellence and operational maturity.

+ Leverage insights and external benchmarks to inform strategic direction and advance internal processes.

+ Guide teams through change management, transformation, and ongoing continuous improvement efforts.

+ Mentor and coach talent, fostering a culture of innovation and professional growth across the PBM product organization.

+ Collaborate with analytics, delivery, and finance teams to achieve successful implementation and measurement of new service models.

+ Effectively communicate progress, risks, and outcomes to executive leadership and key stakeholders.

+ Engage in multiple projects simultaneously, demonstrating the ability to “context switch” and prioritize effectively in a fast-paced environment.

Required Qualifications

+ Minimum of 10 years of relevant management experience in consulting, PBM strategy, or health technology startups

+ 8+ years of PBM industry experience within strategy, product, or new ventures.

+ 5+ years of People leadership

+ Awareness of the PBMs changing landscape, and conviction about where the market will be in 3–5 years

+ Proven track record in product management, operating model transformation, or service model design within healthcare, PBM, or related industries.

+ Ability to clearly articulate complex topics and tell a compelling story using PowerPoint.

+ Advanced expertise in strategic execution, change management, and cross-functional collaboration.

+ Experience developing and scaling frameworks, standards, and operational models.

+ Strong executive engagement, communication, and stakeholder management skills.

+ Comfortable managing multiple projects and context switching to address shifting priorities.

Preferred Qualifications

+ Proven success in developing and launching new products, including taking ideas from concept to commercialization.

+ Self-sufficient operator mindset able to develop strategy, identify gaps, and execute project plans independently.

+ Start-up experience is preferred but not required.

Education

+ Bachelor’s degree required; MBA is a plus but not required.

+ An equivalent combination of education and experience may be considered.

Pay Range

The typical pay range for this role is:

$100,000.00 - $231,540.00

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.

We are an equal opportunity and affirmative action employer. We do not discriminate in recruiting, hiring, promotion, or any other personnel action based on race, ethnicity, color, national origin, sex/gender, sexual orientation, gender identity or expression, religion, age, disability, protected veteran status, or any other characteristic protected by applicable federal, state, or local law.