Associate Director, Field Incentive Compensation - Parsippany, NJ

Who we are

Together, we’re on a mission to make good health more affordable and accessible, to help millions around the world enjoy healthier lives. It’s a mission that bonds our people across nearly 60 countries and a rich, diverse variety of nationalities and backgrounds. Working here means working with the world’s leading manufacturer of generic medicines, and the proud producer of many of the products on the World Health Organization’s Essential Medicines List. Today, at least 200 million people around the world take one of our medicines every single day. An amazing number, but we’re always looking for new ways to continue making a difference, and new people to make a difference with.

The opportunity

 

Reporting to Sales Operations leadership, this individual will be responsible for leading field incentive compensation (IC) design, quota setting, administration, IC reporting & payments, post-period plan evaluations, communications, policy management & adherence, and providing estimates for financial accruals.  They must possess strong Pharma Sales business acumen, analytics & financial modelling experience, and experience designing plans based on incentive compensation principles and best practices.  The individual must possess a strong working knowledge of common pharmaceutical 3rd party sales data used in IC plans and experience directing and managing an external partner.  This role is responsible for identifying each brand’s strategic and tactical imperatives to create optimal field incentives that support and align to those imperatives.   The scope of responsibility covers IC support for all Teva U.S. field sales teams as well as other U.S. teams approved for field bonus plans.   This includes all aspects of design and administration for both core Incentive Plans and Special Incentives or Contests.  The role is responsible for administering the plans in accordance with all applicable Teva Corporate Policies and local eligibility & sales credit business rules.  The scope of responsibility also covers all aspects of IC plan design reviews and commercial and corporate approvals.  As the field incentives lead, this individual will be required to actively monitor industry trends and advancements in IC approaches and theories to maintain the practice of continuous improvement and stay current with an evolving and dynamic Pharma selling environment.

How you’ll spend your day

 

All areas of responsibility listed below are essential to the satisfactory performance of this position by any incumbents with reasonable accommodation if necessary. Any non-essential functions are assumed to be included in other related duties or assignments. 

 

• Set the vision, direction and standards for Field Incentive Compensation function and create a 1-3 year roadmap for headcount, systems, and operating budget.
• Create strong collaboration with the Sales, Brand Marketing, Finance and the Human Resources functions to facilitate the creation of the field IC plans & quotas in support of brand objectives. Provide quarterly accruals estimates for bonus payments by team & brand.
• Manage design, approval, and post-period evaluations of incentive plans & contests for field sales teams and other teams approved for field incentive plans. 
• Manage external field incentives operations partner to deliver design, quotas, evaluations, administration and IC reports.  This includes coordination with outsourced overseas project team members and working with Sales Operations leadership to clearly define the future strategies for insourcing vs. outsourcing workload.
• Provide continuous improvement in process and plans through cycle of plan, do, study, act.

 

This is a hybrid position and will require the selected candidate to work in the Parsippany, NJ office 2-3 days per week. 

Your experience and qualifications

 

Any equivalent combination of education, training and/or experience that fulfills the requirements of the position will be considered. 

 

Education/Certification/Experience:

 

• Bachelor’s degree required; MBA or related Master’s degree preferred.
• Minimum 7 years of experience in a sales, commercial operations or consulting related role within the pharmaceutical industry 
• Sales management, sales operations, finance, and other analytical experience preferred.
• Professional experience in a pharmaceutical field incentive compensation related role, 2+ years preferred

 

Skills/Knowledge/Abilities:

 

• Highly effective in sales operations or sales management and have a comprehensive understanding of best practice across the pharmaceutical industry and industry data sets.
• Work effectively across functions as a team play