Quantitative Enterprise Risk Management Analyst

About the Role

This risk management position supports CVS Health's Enterprise Risk Management (ERM) program, focusing on quantitative risk analysis, regulatory deliverables, and broader ERM activities. The role involves maintaining and enhancing quantitative models, supporting regulatory and risk-management processes, and collaborating with subject matter experts across the enterprise.

The ideal candidate is highly detail-oriented, analytically minded, and intellectually curious. They should be motivated to develop deep technical expertise, understand the business context of analysis, and take increasing ownership of complex models and recurring ERM processes. This role requires strong data and technical skills, clear communication, sound judgment, and a collaborative approach.

Anticipated Weekly Hours: 40

Time Type: Full time

Typical Pay Range: $43,888.00 - $85,068.00

This position is eligible for a CVS Health bonus, commission or short-term incentive program.

Key Responsibilities

• Develop a deep understanding of assigned quantitative risk models, including data flows, calculations, assumptions, dependencies, controls, outputs, and business context.
• Take increasing ownership of the ongoing maintenance and enhancement of quantitative risk models.
• Support the enterprise economic capital model and other risk-quantification tools by investigating issues, evaluating and implementing changes, testing and reconciling results, and explaining the rationale and impact of updates.
• Partner with subject matter experts and cross-functional teams to collect and interpret data, understand source-system and business definitions, develop or validate assumptions, and translate business information into quantitative analysis.
• Prepare and analyze complex datasets through profiling, cleansing, standardization, validation, reconciliation, transformation, aggregation, trend analysis, and data-quality control checks.
• Maintain clear, accurate, and auditable documentation of data sources, business rules, model methodologies, assumptions, limitations, changes, testing, results, and governance activities within designated systems and tracking tools.
• Support stress-scenario development and execution, enterprise risk quantification, and analysis of business processes.
• Build productive relationships with internal and external stakeholders.
• Communicate technical concepts clearly to technical and non-technical audiences.
• Provide timely status updates and raise issues promptly.
• Take ownership of assignments, ask thoughtful questions, incorporate feedback, and proactively identify opportunities to improve data quality, model controls, documentation, and process efficiency.
• Support broader ERM initiatives.

Requirements & Tech Stack

• SQL
• Excel
• VBA
• Where applicable: R, Python

Qualifications

• Foundational experience with quantitative analysis, financial or statistical modeling, or complex analytical coursework or projects.
• Proficiency in Microsoft Excel.
• Working knowledge of SQL and VBA.
• Demonstrated attention to detail and commitment to accuracy, completeness, data integrity, and clear, well-organized documentation.
• Ability and willingness to learn complex quantitative models, understand how their components connect, and build the subject-matter expertise needed to maintain and enhance them over time.
• Self-starter mindset with the ability to ask thoughtful questions, identify issues, recommend practical improvements, incorporate feedback, and take increasing ownership of assignments.

Preferred Qualifications

• Exposure to financial statements, statistical concepts, risk management, or scenario analysis.
• Experience using PowerQuery.
• Experience working with large or complex datasets, including data-quality review, reconciliation, and documentation.
• Experience using R or Python for data preparation, statistical analysis, modeling, visualization, or automation.
• Foundational knowledge of the health care industry, accounting, finance, or regulatory reporting.
• Experience with GRC, project-management, model-governance, or workflow tools.
• Intellectual curiosity and adaptability, with an interest in continuously learning about enterprise risks, regulatory requirements, and business processes.

Education

• Bachelor's degree, or equivalent experience, in a quantitative, analytical, finance, business, or related field.