Pharmacy Financial Consultant

Company:

Marsh McLennan Agency

Description:

Marsh McLennan Agency's East Region is a leader in the employee benefits marketplace. Our associates simplify employee health and welfare benefits and risk management for regional, national, Fortune 500 and Fortune 1000 companies. We value integrity, collaboration, passion, innovation, and accountability, and we are committed to making a difference in the moments that matter for our colleagues, clients, and communities.

The Pharmacy Financial Consultant will be responsible for providing financial analysis utilizing modeling tools to evaluate pharmacy benefit managers including MMA East Rx’s Coalitions including supporting financial evaluations, clinical management support and strategies as well as general pharmacy account management support working in concert with the Pharmacy Team and MMA East Account Management Team of Account Managers, Underwriters and Client Service Representatives.

ESSENTIAL DUTIES AND RESPONSIBILITIES include, but are not limited, to the following:

• Support internal consulting and sales teams by performing financial, contractual, and market analyses related to pharmacy benefit programs, including use of proprietary tools to evaluate contract value and competitiveness.
• Assist with annual MMA East Rx Coalitions contract negotiation process by providing financial analysis support at the direction of the Pharmacy Practice Leader using MMA East proprietary models;
• Perform the analysis and negotiation of contract terms with the Pharmacy Benefit Manager (PBM) in conjunction with the MMA East Account Manager and Underwriter on behalf of clients to secure optimal, cost-competitive pharmacy procurement;
• Review, validate, and reconcile marketing results, client proposals, and contract performance to help ensure accuracy, compliance, and achievement of agreed-upon financial and service guarantees throughout the plan year.
• Complete market check evaluations to confirm contract competitiveness;
• Provide support for specialized client arrangements, including in-house pharmacies, 340B programs, third-party audits, and other unique pharmacy benefit considerations, with guidance from the Pharmacy Practice team.
• 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;
• Participate in prospective client data analysis and presentations;
• Partner with Pharmacy Practice and Account Team members to develop client deliverables, including stewardship reports, quarterly reporting, dashboards, client service plans, and other materials that support ongoing account management and client strategy.
• Work with internal operations team on deployment and ongoing maintenance of pharmacy database to help streamline process and assure applications help support the Pharmacy Practice ongoing;
• Contribute to practice development and knowledge-sharing efforts through support of newsletters, webinars, training materials, and other team resources, while also participating in special projects as needed.
• Maintain quality service standards and organization to ensure timely service to MMA East team;
• Stay informed on developments in the pharmacy marketplace, including industry consolidation, employer coalitions, transparent contracting models, outcomes-based arrangements, gene therapy solutions, and legislative or regulatory changes that may affect clients or the business.

REQUIRED EDUCATION AND EXPERIENCE

• Bachelor's degree in business, finance, economics, healthcare, risk management, mathematics, or a related field preferred; equivalent professional experience will also be considered.
• Minimum of five years prior work experience with prescription drug benefits and pricing in the Benefits Brokerage, Consulting, or Insurance industry;
• Working knowledge of pharmacy benefit concepts such as plan design, pricing models, rebates, formulary management, networks, specialty pharmacy, and vendor performance measurement.
• Effective analytical, math and problem-solving skills, sound judgment, strong decision making ability, confidence to make difficult decisions and excellent communication skills;
• Must be organized, detail oriented and able to translate big picture ideas into client objectives.

KNOWLEDGE, SKILLS AND ABILITIES

• Strong consulting orientation with the ability to move beyond data gathering and help shape clear, practical recommendations.
• Strong written and verbal communication skills, including the ability to tailor messages for internal teams, clients, and executive audiences.
• Excellent troubleshooting, decision making and problem-solving skills;
• Proven ability to support multiple projects simultaneously with attention to detail and process;
• Comfort working in a fast-paced environment that requires flexibility, initiative, and strong follow-through.
• Excellent verbal and written communication skills;
• 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.
  

PHYSICAL DEMANDS AND WORK ENVIRONMENT

• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• While performing the duties of this job, the employee is:
  • Frequently required to sit; speak or hear; use hands to finger, handle, feel objects, and reach with hands and arms;
  • Occasionally required to stand and walk;
  • Extensive use of computer and keyboard and viewing of computer screen is required;
  • Specific vision abilities required by this job include vision, and ability to adjust focus.
• Other working conditions are normal for an office environment.

WORK LOCATION

• Work is typically performed either remotely or in a hybrid manner at Marsh McLennan Agency’s Conshohocken, PA office, or at various customer/MMA locations as required.

The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.

We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.

Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@mmc.com

#MMAE

#LI-Remote

The applicable base salary range for this role is $71,800 to $133,700.

The base pay offered will be determined on factors such as experience, skills, training, location, certifications, education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.

We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.

Applications will be accepted until:

November 27, 2026