Requisition ID 19426BR
Title Sr. Analyst, Finance - Strategic Pricing
Job Category Finance
Job Description PURPOSE:
This position is responsible for leading the analytical input into the development and implementation of a world-class pricing strategy. The individual will leverage data from multiple sources to understand business problems to understand the positioning and pricing of Novo Nordisk (NNI) products. This includes contributions to deal development, new product pricing and strategic pricing projects, execution of list and net pricing strategies, and monitoring and evaluation of contract performance for all customer segments (e.g., Managed Care, Non-Federal Hospitals, Long-Term Care, Medicare Part D, Medicaid (FFS & MM), Exchanges and Federal), including diabetes, biopharmaceutical and hormone therapy products. They will be responsible for applying analytical methods and tools necessary to translate data into clear, actionable insights and recommendations regarding pricing information for NNI and competitors.
RELATIONSHIPS:
Reports to a Sr. Manager in Strategic Pricing. Works and partners closely with other team members in
Strategic Pricing; Government Pricing & Compliance; Managed Markets Strategy & Health Economics;
Finance; Brand Marketing; Other NNI internal departments such as Legal, Sales, etc. External
relationships include field Account Executives and Directors, Novo Nordisk AS, professional associations,
vendors, and customers.
ESSENTIAL FUNCTIONS:
• Analyzes impact of pricing changes on NNI financial results, including impact on statutory pricing
• Collaborates with other groups (within PCOR and across other internal NNI groups (e.g. – CE/FFE)) to ensure proper pricing and product information is being used
• Collaborates with Sr. Manager, Strategic Pricing to execute on global projects relating to analysis of net sales, market shares, and pricing in the U.S. market
• Develops presentations for senior management regarding contracting and pricing strategies
• Develops pricing models to be used in the review of list and net pricing recommendations
• Develops world-class data gathering process to capture competitive pricing and discounting
• On an ad hoc basis, develops reports that monitor and evaluate Managed Markets performance at customer and channel levels
• Owns the financial analysis quantifying the expected performance and profitability of retail and non-retail contracts for in-line products
• Provides ad hoc analyses as required, within any of the tasks listed above
• Provides integrated analyses and insights for customers and other business groups (e.g., customer segment reports and trend reports for internal Finance, Sales and Marketing management)
• Provides new product launch teams with in-depth performance metrics and insights on top Managed Markets accounts
• Supports business and analytical expertise in the development of tools and methods that will result in more accurate customer profitability assessment and decision-making
• Supports Strategic Pricing managers with the development and implementation of Managed Markets Strategy through financial modeling for deal evaluation and creation of analytical deliverables
• Trains and mentors new team members in the areas of systems, processes, analytic models and presentations
• Works with 3rd party pricing vendors, Master Data, Contracts Operations, Finance, Trade and Pricing Services to implement and disseminate pricing changes
• Works with Master Data to ensure the accuracy of this pricing information in the NNI systems
• Assists with developments and updates to Strategic Pricing SOPs in compliance with all applicable regulations
• Assists with the notification of launch product prices, correct system updates, and special terms/dating
• Assists in the development of channel forecasts and customer segment valuation
• Assists with the yearly review of current pricing strategies and the process for developing recommendations for the next calendar year
• Contributes to scenario impact models on pricing and profitability within key channels
• Supports contract profitability forecasting. Contributes to continuous improvement of methodologies by measuring forecast versus actual results and benchmarking against industry practices
PHYSICAL REQUIREMENTS:
0% - 5% overnight travel
DEVELOPMENT OF PEOPLE:
Not Applicable
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS
• A Bachelor's Degree required; Master’s degree preferred
• A minimum of 5 years of progressively responsible, relevant experience (pricing, contracting, forecasting, consulting, sales analysis, finance and reporting) required; at least 2 years within the pharmaceutical industry in specialty area preferred
• Previous pricing experience required
• Must have the ability to apply analytical methods and tools necessary to translate data into clear, actionable insights and recommendations
• Must have the ability to communicate at all levels of the organization
• Must have the ability to develops and maintain strong internal and external relationships
• Ability to perform complex analyses (analytical, quantitative and qualitative) required
• Must have high attention to detail with an ability and readiness to delve into, and resolve data problems
• Excellent PC skills required
• Expert knowledge of Excel and PowerPoint required
• Intermediate proficiency with systems and databases (such as MS Access) required
Department FIN - STRATEGIC PRICING (2)
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree Required
Percent Travel 0 - 10%
Title Sr. Analyst, Finance - Strategic Pricing
Job Category Finance
Job Description PURPOSE:
This position is responsible for leading the analytical input into the development and implementation of a world-class pricing strategy. The individual will leverage data from multiple sources to understand business problems to understand the positioning and pricing of Novo Nordisk (NNI) products. This includes contributions to deal development, new product pricing and strategic pricing projects, execution of list and net pricing strategies, and monitoring and evaluation of contract performance for all customer segments (e.g., Managed Care, Non-Federal Hospitals, Long-Term Care, Medicare Part D, Medicaid (FFS & MM), Exchanges and Federal), including diabetes, biopharmaceutical and hormone therapy products. They will be responsible for applying analytical methods and tools necessary to translate data into clear, actionable insights and recommendations regarding pricing information for NNI and competitors.
RELATIONSHIPS:
Reports to a Sr. Manager in Strategic Pricing. Works and partners closely with other team members in
Strategic Pricing; Government Pricing & Compliance; Managed Markets Strategy & Health Economics;
Finance; Brand Marketing; Other NNI internal departments such as Legal, Sales, etc. External
relationships include field Account Executives and Directors, Novo Nordisk AS, professional associations,
vendors, and customers.
ESSENTIAL FUNCTIONS:
• Analyzes impact of pricing changes on NNI financial results, including impact on statutory pricing
• Collaborates with other groups (within PCOR and across other internal NNI groups (e.g. – CE/FFE)) to ensure proper pricing and product information is being used
• Collaborates with Sr. Manager, Strategic Pricing to execute on global projects relating to analysis of net sales, market shares, and pricing in the U.S. market
• Develops presentations for senior management regarding contracting and pricing strategies
• Develops pricing models to be used in the review of list and net pricing recommendations
• Develops world-class data gathering process to capture competitive pricing and discounting
• On an ad hoc basis, develops reports that monitor and evaluate Managed Markets performance at customer and channel levels
• Owns the financial analysis quantifying the expected performance and profitability of retail and non-retail contracts for in-line products
• Provides ad hoc analyses as required, within any of the tasks listed above
• Provides integrated analyses and insights for customers and other business groups (e.g., customer segment reports and trend reports for internal Finance, Sales and Marketing management)
• Provides new product launch teams with in-depth performance metrics and insights on top Managed Markets accounts
• Supports business and analytical expertise in the development of tools and methods that will result in more accurate customer profitability assessment and decision-making
• Supports Strategic Pricing managers with the development and implementation of Managed Markets Strategy through financial modeling for deal evaluation and creation of analytical deliverables
• Trains and mentors new team members in the areas of systems, processes, analytic models and presentations
• Works with 3rd party pricing vendors, Master Data, Contracts Operations, Finance, Trade and Pricing Services to implement and disseminate pricing changes
• Works with Master Data to ensure the accuracy of this pricing information in the NNI systems
• Assists with developments and updates to Strategic Pricing SOPs in compliance with all applicable regulations
• Assists with the notification of launch product prices, correct system updates, and special terms/dating
• Assists in the development of channel forecasts and customer segment valuation
• Assists with the yearly review of current pricing strategies and the process for developing recommendations for the next calendar year
• Contributes to scenario impact models on pricing and profitability within key channels
• Supports contract profitability forecasting. Contributes to continuous improvement of methodologies by measuring forecast versus actual results and benchmarking against industry practices
PHYSICAL REQUIREMENTS:
0% - 5% overnight travel
DEVELOPMENT OF PEOPLE:
Not Applicable
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS
• A Bachelor's Degree required; Master’s degree preferred
• A minimum of 5 years of progressively responsible, relevant experience (pricing, contracting, forecasting, consulting, sales analysis, finance and reporting) required; at least 2 years within the pharmaceutical industry in specialty area preferred
• Previous pricing experience required
• Must have the ability to apply analytical methods and tools necessary to translate data into clear, actionable insights and recommendations
• Must have the ability to communicate at all levels of the organization
• Must have the ability to develops and maintain strong internal and external relationships
• Ability to perform complex analyses (analytical, quantitative and qualitative) required
• Must have high attention to detail with an ability and readiness to delve into, and resolve data problems
• Excellent PC skills required
• Expert knowledge of Excel and PowerPoint required
• Intermediate proficiency with systems and databases (such as MS Access) required
Department FIN - STRATEGIC PRICING (2)
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree Required
Percent Travel 0 - 10%