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*Analyst I - Care Vendor Sr. Analyst Finance Contracts

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*Analyst I - Care Vendor Sr. Analyst Finance Contracts

  • Location:

    Woonsocket

  • Sector:

    MRS Pharmacy

  • Job type:

    Temporary & Contract

  • Salary:

    Negotiable

  • Contact:

    April Arnado

  • Contact email:

    aarnado@medicalrecruitmentstrategies.com

  • Job ref:

    BBBH410719_1673018096

  • Published:

    22 days ago

  • Expiry date:

    2023-04-06

The Senior Analyst is accountable to lead, guide and direct the vendor aspects as it relates to the contractual agreements outlined in the Statement of Work [SOW]. Responsible for managing the relationship of the vendors and coordinating numerous tasks that will drive overall performance that contributes to financial and contract stability. Direct accountability for Contractual Statement of Work, change orders, pricing model, contract review and updates, contract extensions, invoice validation, monthly estimates, accruals, invoice audits, and invoice data entry. The senior Analyst will support leadership with data analysis of invoices, contract negotiations, procurement review, and other tasks as assigned. Delivery on stakeholder and business performance. The Senior Analyst will participate in project at the stakeholder level as assigned.

Business operational acumen is required in order to communicate effectively with both internal and external operational teams related to Contractual execution and Financial measures. Additional areas of responsibility will include financial analysis to identify cost savings, budget gaps, pricing consistency, contract monitoring against performance penalty measures, financial lock trending, overtime spend, dedicated vs designated project pricing models, and leadership skills. Lead cross-functional teams responsible for providing operational support to the CVS Health PBM business. Evolve & improve vendor processes including but not limited to reviewing or recommending innovative solutions that will impact our clients and members, strategic planning, analysis of data, and overall operational performance of key deliverables.

Senior Analyst is responsible for meeting the business needs through the delivery of organized documentation and contract and finance reviews. Partner with vendor management IT, Resource Planning, Operations, and specialized team members to ensure monthly metrics are met for all supported lines of business. Understanding who the clients are to ensure consistency throughout the organization, engagement with CVS Finance and Procurement partners to ensure alignment and successful outcomes. Participate in projects at the stakeholder level, organize and be fully accountable for audit of finance and contractual reviews.

The Vendor Management Operations Senior Analyst will manage vendors operational areas Including but not limited to:
* The Business Strategy Planning for each assigned vendor and line of business
* Coordinate efforts with CVS Finance and Procurement and Vendor partners
* Contract and Financial Responsibilities. Manage Contracts and Validation of Vendor Invoices
* Work with vendor site leadership to identify operational risk areas, & provide solutions to correct gaps
* Validate invoice accuracy, create data review tables, and maintain expense logs
* Report on the current and future of contracts reviews
* Maintain contract change orders, extensions, waivers, penalty assessment, and recommended updates based on performance and analysis
* Support CVS Procurement in the Request for Proposal process

Responsibilities Estimated % of Time
1. Manage Dedicated Line of business or Functional areas
* Serve as the key POC for Contracts and Finance
* Review and update documents as related to processes
* Participate when needed as a Subject Matter Expert (SME)
* Assist with contract and finance audits
* Maintain tracking logs and perform data analysis 25%
2. Documentation and Research
* Participate and lead invoice and contract reviews
* Review process documents for improvements
* Hold weekly estimate reviews and month end reviews with finance partners
* Data analysis to drive cost savings 25%
3. Financial Performance
* Track overall spend by statement of work agreement
* Validation of chargebacks and credits
* Monthly invoice reconciliation
* Review monthly close packets from finance for accuracy 20%
4. Contract Reviews
* Maintain contract termination log
* Track change order requests
* Run Contract model to understand cost variances
* Monitor performance against penalties outline in the statement of work
* Maintain pricing table 20%
5. Stakeholder projects as assigned, such as Request for Proposal financial analysis
* Participate as a SME (Subject Matter Expert) for projects assigned
* Follow up on tasks and report progress and meet deadline 10%

Qualifications:
3-5 years experience Quality Control fields.

Knowledge of:
* Contract language
* Finance concepts
* Understating of Call center Operations
* Understanding of Resource Planning Operations
* Operational Health Care industry knowledge
* Vendor/outsourcing knowledge
* Knowledge of 5 why's methodology of root cause analysis
Skill in:
* Financial data tracking
* Performance monitoring
* Excellent communication skills, written and verbal
* Advanced use of CVS system tools
Ability To:
* Work independently, travel and manage deadlines
* Ability to facilitate and motivate OSAT/CSAT contract objectives

Essential Qualifications and Functions:
* Regular and reliable attendance
* Colleague will be required to work mandatory overtime/extended workweek when needed
* Strong Organizational skills
* Good understanding of People Safe and how to research records within this system
* Advanced ability in Excel
* Must be able to work independently with all levels and in every area of the Organization
* Ability to travel as business needs dictate, both domestic and international (estimated max 10% of time).

Education: HS Diploma or GED required, Bachelor's degree preferred or 2+ years of higher ED

Shift: M-F 8-5 with potential OT or Weekend work

Duration: 01/16/2023 to 01/15/2024

Work Set-up: Fully remote (never coming onsite)