Associate Director, Fair Market Value / Bona Fide Service Fee (FMV / BFSF)

Job Description Summary

As an Associate Director in the Fair Market Value / Bona Fide Service Fee (FMV/BFSF) team, you will be leading the team to ensure compliance with regulatory requirements (Centers for Medicare & Medicaid Services rules and guidance) and industry standards related to fair market value in the pharmaceutical sector. You will be responsible for developing, implementing, and overseeing fair market value processes, policies and applications across Novartis.

 

Job Description

Key responsibilities

 

• Serve as a leader in the development and streamlining of fair market value methodologies, processes, and policies in the U.S. industry pertaining to fee for service arrangements with Commercial entities (e.g., Specialty Pharmacies, Wholesalers/Distributors, PBMs, GPOS, Hubs, Copay vendors, etc.).
• Collaborate with cross-functional teams across Market Access, Finance, Legal, Medical and others to ensure alignment in fair market value assessments and decision-making processes.
• Maintain all fair market value Work Process Documents (WPDs) and remain in compliance with all pertinent WPDs.
• Oversee relationships with external vendors and consultants to support fair market value assessments
• Ensure fair market value compliance with Novartis internal guidelines, including documentation and records retention.
• Maintain and enhance processes to remain compliant with Centers for Medicare & Medicaid Services (CMS) regulations.
• Work with MMF teams to provide communications and training as needed across the broader organization.

 

Essential Requirements

 

• Bachelor’s degree preferably in Finance/Accounting. Master’s degree, MBA or CPA preferred.
• 6+ years of experience in finance, accounting, or economics, preferably within pharmaceutical or healthcare industry.
• Supervisory skills to effectively delegate to, motivate and develop associates.
• Excellent analytical skills with the ability to interpret complex data and market trends to conduct a fair market value assessment.
• Strong financial modelling skills: Advanced Microsoft Excel Skills.
• Proactive mindset and ability to execute multiple assignments simultaneously.
• Strong communication and interpersonal skills with the ability to collaborate with internal and external stakeholders at all levels.
• Experience conducting financial analysis/valuations, preferably fair market value analysis of healthcare business, compensation, and various service agreements for management planning and regulatory compliance purposes.

 

 

Desirable Requirements:

 

• Extensive knowledge of pharmaceutical industry and its policies and regulations.
• Proficiency with data and analytics tools such as Tableau and Power BI.
• Experience with all commercial entities (e.g., Specialty Pharmacies, Wholesalers/Specialty Distributors, PBMs, GPOs, HUBs, Copay vendors, etc.). 

Benefits & Rewards

The salary for this position is expected to range between $145,600 and $270,400 per year. The final salary offered is determined based on factors like, but not limited to, relevant skills and experience, and upon joining Novartis will be reviewed periodically. Novartis may change the published salary range based on company and market factors. Your compensation will include a performance-based cash incentive and, depending on the level of the role, eligibility to be considered for annual equity awards. US-based eligible employees will receive a comprehensive benefits package that includes health, life and disability benefits, a 401(k) with company contribution and match, and a variety of other benefits. In addition, employees are eligible for a generous time off package including vacation, personal days, holidays and other leaves.

 

Why Novartis: Helping people with disease and their families takes more than innovative science. It takes a community of smart, passionate people like you. Collaborating, supporting and inspiring each other. Combining to achieve breakthroughs that change patients’ lives. Ready to create a brighter future together? https://www.novartis.com/about/strategy/people-and-culture

 

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