SmithRx

Compliance Analyst

Remote

Not SpecifiedCompensation
Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Health-Tech, Pharmacy Benefit ManagementIndustries

Compliance Analyst

Who We Are:

SmithRx is a rapidly growing, venture-backed Health-Tech company. Our mission is to disrupt the expensive and inefficient Pharmacy Benefit Management (PBM) sector by building a next-generation drug acquisition platform driven by cutting edge technology, innovative cost saving tools, and best-in-class customer service. With hundreds of thousands of members onboarded since 2016, SmithRx has a solution that is resonating with clients all across the country.

We pride ourselves for our mission-driven and collaborative culture that inspires our employees to do their best work. We believe that the U.S healthcare system is in need of transformation, and we come to work each day dedicated to making that change a reality. At our core, we are guided by our company values:

  • Integrity: Our purpose guides our actions and gives us confidence in the path ahead. With unwavering honesty and dependability, we embrace the pressure of challenging the old and exemplify ethical leadership to create the new.
  • Courage: We face continuous challenges with grit and resilience. We embrace the discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward—always.
  • Together: The success of SmithRx reflects the strength of our partnerships and the commitment of our team. Our shared values bind us together and make us one. When one falls, we all fall; when one rises, we all rise.

Job Summary:

We are looking for a Compliance Analyst to assist in all operational aspects of implementing a highly-effective compliance program in a dynamic PBM regulatory landscape.

In this role, you will assist and lead initiatives which prevent, detect, or correct noncompliance using the key seven elements of a compliance program. You will work closely with Compliance leadership, Legal, and Regulatory Counsel to support our mission.

We are looking for someone who is enthusiastic about building and supporting programs that impact pharmacy and healthcare at a high-growth healthcare technology company, bringing strong ethics, integrity, and solid interpersonal skills.

Arrangement:

  • Location: Remote, full-time employee.
  • Work Environment: General office environment; may be required to sit or stand for extended periods of time. On rare occasions, this position may visit any of the SmithRx offices, including the home office in San Francisco, California.
  • Eligibility: Applicants must be based in one of the following states: Arkansas, Arizona, California, Colorado, Florida, Georgia, Kansas, Minnesota, Missouri, Nevada, North Carolina, South Carolina, Ohio, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.

Responsibilities:

  • Report to Compliance leadership, playing a significant role in the development of the Compliance Program.
  • Use analytical skills and compliance knowledge to be a thought leader and effectively reduce risks to our organization.
  • Build and maintain positive and strategic relationships with internal and external stakeholders.
  • Support the open-door posture for reporting and detecting issues of compliance.
  • Assist in the development of materials and reporting metrics for leadership and applicable oversight committees.
  • Support the Compliance Program workplan and risk assessments.
  • Ensure document retention standards and evidence of compliance activities are maintained across our organization.
  • Assist in the review, development, and completion of regulatory reporting or filings as needed.
  • Provide or assist in informal or formal training and education related to regulatory and legal requirements such as policies and procedures, regulatory implementations, and more.
  • Work with Legal and Compliance leadership to interpret regulations and distribute related guidance to impacted stakeholders through SmithRx’s regulatory change and distribution management program.
  • Design and perform readiness testing.
  • Investigate potential or re... (content truncated in original)

Skills

Compliance
Regulatory Landscape
PBM
Health-Tech
Risk Management
Auditing
Policy Development
Data Analysis

SmithRx

Pharmacy benefit management with transparent pricing

About SmithRx

SmithRx operates as a Pharmacy Benefit Manager (PBM) that focuses on managing prescription drug plans for self-insured employers and plan sponsors. The company uses a transparent pricing model called "Pass Through Pricing," where it charges only an administrative fee and passes all rebates from prescriptions directly to clients and their members. This model contrasts with traditional PBMs that often inflate drug prices and retain rebates for profit. SmithRx's clients benefit from a technology platform that utilizes real-time data to improve service delivery, ensuring efficient and high-quality pharmacy benefit management. The company also provides a concierge service to enhance support for both members and clients. SmithRx aims to simplify pharmacy benefits while maximizing value for its clients through transparency, advanced technology, and exceptional customer service.

San Francisco, CaliforniaHeadquarters
2016Year Founded
$94.8MTotal Funding
SERIES_CCompany Stage
HealthcareIndustries
201-500Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Holidays
Wellness Program
Commuter Benefits
Parental Leave
Mental Health Support
Professional Development Budget

Risks

Increased competition from technology-driven PBMs like Capital Rx could erode market share.
Rapid technological advancements may require costly updates to SmithRx's platform.
Potential regulatory scrutiny on PBM pricing models could impact SmithRx's business model.

Differentiation

SmithRx uses a transparent 'Pass Through Pricing' model, unlike traditional PBMs.
The company leverages real-time data for efficient pharmacy benefit management services.
SmithRx offers concierge-level service, enhancing customer satisfaction and support.

Upsides

SmithRx secured $60M in Series C funding, indicating strong investor confidence.
Partnership with Banjo Health enhances prior authorization processes using AI technology.
Collaboration with TheracosBio offers cost-effective drug options for Type 2 Diabetes.

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