Voya Financial

Cost Containment Consultant

United States

Not SpecifiedCompensation
Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level
Full TimeJob Type
UnknownVisa
Financial Services, InsuranceIndustries

Requirements

Candidates must possess a Bachelor's degree, a current unrestricted RN license or equivalent clinical degree, and a minimum of 5 years of clinical experience. A minimum of 2 years of insurance experience is also required, along with previous experience managing relationships, strong analytical and problem-solving skills, and excellent interpersonal and negotiation skills for acting as a company representative. Proficiency in Microsoft Office products is necessary.

Responsibilities

The Cost Containment Consultant will serve as a subject matter expert for company cost containment programs, including TPAs, Large Case Managers, Sales, Underwriters, Client Representatives, and Brokers, and will act as a consultant to underwriting. This role involves evaluating medical information to clarify diagnoses, assess medical condition severity, and estimate recovery duration, as well as assisting TPAs with cost containment options for high-cost claims such as transplants, specialty medications, dialysis, hemophilia, neonatal, and cancers. The consultant will also analyze transplant contracts, provide guidance on selecting the best contract for clients, research clinical conditions, and conduct analytical reviews of medical and/or pharmacy data. Additionally, the role includes managing vendors, participating in vetting new vendors, establishing standard work, performing root cause problem solving for the cost containment team, and developing relationships with key external and internal stakeholders to facilitate optimal cost savings. Travel and other duties as assigned are also part of the responsibilities.

Skills

Cost Containment
Stop Loss Claims
Third Party Administrator (TPA)
Consulting
Underwriting
Client Relations
Sales
Broker Relations

Voya Financial

Provides financial services and retirement solutions

About Voya Financial

Voya Financial offers a range of financial services, including retirement plans, investment management, and insurance products, to help individuals and businesses achieve financial wellness. Their services cater to individuals seeking retirement planning, employers looking to enhance employee benefits, and institutions needing tailored investment management. Voya stands out from competitors through its commitment to inclusiveness and corporate responsibility, which helps attract clients and talent. The company's goal is to build long-term relationships with clients, ensuring they achieve financial confidence and a fulfilling life.

New York City, New YorkHeadquarters
2014Year Founded
IPOCompany Stage
Fintech, Financial ServicesIndustries
5,001-10,000Employees

Benefits

Health Savings Account (HSA)
Flexible Spending Accounts (FSA)
Rally wellness program
Employee Assistance Program (EAP) and Work Life Services
Behavioral Health Family Support Program
Livongo support for diabetes, hypertension, and weight management
AccessHope cancer support
Wellthy caregiving assistance
Back-up child care and elder care
Health Advocate
ABLE accounts
Legal insurance
Identity theft protection
Voya Foundation Matching Gift Program

Risks

Increased competition from fintech companies may erode Voya's market share.
Operational challenges in integrating OneAmerica's business could affect service quality.
Regulatory scrutiny on fees may impact Voya's pricing strategies and profitability.

Differentiation

Voya's commitment to inclusiveness and corporate responsibility sets it apart in the market.
The acquisition of OneAmerica's retirement plan business expands Voya's client base significantly.
Voya's focus on digital financial planning tools enhances client engagement and satisfaction.

Upsides

Voya's ESG commitment aligns with the growing investor focus on sustainable investing.
The financial wellness market's growth offers significant opportunities for Voya's programs.
AI integration in investment management can enhance Voya's strategies and client outcomes.

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