Sr. Procurement Contracts Negotiator
Job ID: R0147784
Category: Finance
Address: One CVS Drive
Location: Woonsocket, RI
Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand — with heart at its center — our purpose sends a personal message that how we deliver our services is just as important as what we deliver.
Our Heart At Work Behaviors™ support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable.
Job Description
As a Sr. Procurement Contract Negotiator, you will be responsible for supporting the CVS Health enterprise in drafting, negotiating, and finalizing IT and Non-IT deals and contractual documents for the purchase of all categories and commodities of non-merchandise goods and services. You will perform these tasks in accordance with corporate contract and purchasing policies. In this role, you will also lead and/or represent Enterprise Procurement on project teams that include or report to CVS senior leadership and are tasked with facilitating enterprise-wide strategic initiative projects, proposing and executing enterprise-wide savings initiatives, communicating and enforcing both internally and externally CVS policy as well as regulatory requirements, meeting and exceeding business goals, supporting supplier diversity among CVS vendors and within the enterprise, and supporting CVS growth strategy by leading supplier integration efforts related to CVS mergers and acquisition transactions driving CVS growth and synergy opportunities.
Hybrid Work Model
The Sr. Procurement Contract Negotiator is required to report to the office every Tuesday and Wednesday each week as well as two Thursday’s a month. This role will also be filled in either Hartford, CT or Woonsocket, RI.
As a Sr. Procurement Contract Negotiator, you will:
- Draft, prepare and review contract documents in accordance with established company policies and procedures designed to minimize potential exposure while maximizing benefits.
- Negotiate all key terms of a variety of contract documents, including but not limited to Legal and business terms to provide the appropriate level of risk mitigation as well as value for the enterprise.
- Analyze all contract requirements, special provisions, terms and conditions to ensure compliance with appropriate laws, regulations, corporate policies and business unit procedures and requirements.
- Effectively communicate the importance and intent of all required terms and conditions to both internal and external stakeholders which is crucial to success in this role.
- Regularly communicate with internal team members and business partners to draft and negotiate pertinent provisions and accurately memorialize specific terms and conditions into appropriate scopes of work, service level agreements, financial incentives, turn-around-times or similar documents.
- Interact consistently with key CVS subject matter experts from areas such as Legal, Sourcing (both IT and Non-IT), Global Security, Information Governance, Risk Management, Privacy, Tax, various Finance areas i.e. IT Finance, FP&A, External Reporting among others) to ensure all current policies and procedures are reflected in contract documents and vendor communications.
- Partner with Sourcing colleagues to support development of RFP requests by providing the necessary contractual documentation for participants to review as components of the exercise. Answer questions posed by participants’ legal counsel in the course of RFP negotiations and ensure problematic provisions are introduced to business leaders as key focal points of internal consideration when determining awards.
- Act as the key point of contact and communication between Legal, finance, senior leadership, and business teams as well as the vendor concerning status and resolution of escalated contract issues and disputes that cannot be resolved at the Negotiator level.
- Accurately and comprehensively identify contractual risks and associated dangers (e.g,, limitation of liability, waiver of consequential damages, etc.) for purposes of escalation to Senior Leadership to properly investigate and advise various levels of CVS management on contractual issues thoroughly.
- Work with various areas of the company Legal, Sourcing (both IT and Non-IT), Information Technology Security Team, Risk Management Dept., Privacy Legal Team, Vendor Assessment Team, Compliance Dept., Internal Audit Dept., Tax Dept., various Finance areas i.e. IT Finance, FP&A, External Reporting to discuss new developments warranting inclusion in contract templates. Lead discussions and revisions to contract language reflecting new requirements and finalize new contract template documents through appropriate internal subject matter experts.
- Routinely participate in presentations, webinars and roundtable discussions to engage and educate business departments enterprise-wide to promote compliance with Corporate Purchasing and Contracts Policies.
- Demonstrate established proficiency utilizing all evolving technological tools (e.g., Microsoft Office, Word, Excel, PowerPoint, SAP/Ariba Procure to Pay Suite of Applications i.e. eSourcing, Ariba Contract Management and Ariba Buyer, Skype for Business, Level 3 Webex etc.) to streamline daily tasks and communications.
- Act as a subject matter expert when presenting to Senior Leadership on complex deal concepts and non-standard provisions requiring executive approval.
- Act as initial liaison with business units in compliance efforts to enforce adherence to Corporate Contract and Purchasing policies.
- Manage multiple high visibility, high priority contracts/projects on a regular basis and closeout a variety of initiatives expeditiously with minimal oversight
- Work both independently/autonomously and as part of a team to identify and analyze unique contractual relationships and craft terms to best fit the business relationship and protect CVS.
Required Qualifications:
- 2+ years of related contract negotiations experience, specifically with reviewing, editing and drafting contractual terms and conditions
- 5+ years professional experience with Microsoft Office
Preferred Qualifications
- Experience as a recurring user of Ariba Contract Management platform (or similar tool) is highly preferred.
- Certified Commercial Contracts Manager (CCCM) is a plus
- Experience negotiating non-merchandise/indirect commodity purchases of goods and/or services deals/contracts is preferred
- Ability to prioritize multiple tasks & high volume of contractual negotiations simultaneously
- Experience advising senior leadership in a corporate environment
Education
- Verifiable Bachelor's degree from an accredited four year college or university required or equivalent work experience
- Master's degree and/or JD preferred
Business Overview
At CVS Health, we are joined in a common purpose: helping people on their path to better health. We are working to transform health care through innovations that make quality care more accessible, easier to use, less expensive and patient-focused. Working together and organizing around the individual, we are pioneering a new approach to total health that puts people at the heart.
We strive to promote and sustain a culture of diversity, inclusion and belonging every day. CVS Health is an equal opportunity and affirmative action employer. We do not discriminate in recruiting, hiring or promotion based on race, ethnicity, sex/gender, sexual orientation, gender identity or expression, age, disability or protected veteran status or on any other basis or characteristic prohibited by applicable federal, state, or local law. We proudly support and encourage people with military experience (active, veterans, reservists and National Guard) as well as military spouses to apply for CVS Health job opportunities.
Pay Range
The typical pay range for this role is:
$43,700.00 – $107,200.00
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.
In addition to your compensation, enjoy the rewards of an organization that puts our heart into caring for our colleagues and our communities. The Company offers a full range of medical, dental, and vision benefits. Eligible employees may enroll in the Company’s 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees. The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners. As for time off, Company employees enjoy Paid Time Off (“PTO”) or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies.
For more detailed information on available benefits, please visit jobs.CVSHealth.com/benefits
We anticipate the application window for this opening will close on: 05/03/2024
