What are the responsibilities and job description for the Sr Analyst Commercial Financial Planning & Analysis and New Product Development position at Mary Kay?
Summary
Responsible for working with teams to develop and execute strategies that will grow the MK business via new markets and distributorships, commercial planning and financial conversations to support new product development.
This role supports the business by developing and implementing strategies to open new markets, expanding the company's presence in strategic markets (e.g. Africa, India, Turkey etc.), and establishing close partnerships with distributors, developing and understanding of distributor growth objectives, while ensuring alignment with the company's goals and objectives.
The role will support revenue growth by providing insights into financial performance, and supporting financial management for new product development projects, working closely with cross-functional teams to align business goals for both existing markets and new markets.
Responsibilities
- New Markets Framework
- Strategic Planning: Develop and support evolution of evaluation criteria for potential new markets as subsidiaries or distributorships, to support future MKI growth.
- New Market Opening
- Strategic Planning: Help identify and evaluate potential new markets, including conducting market research and analysis. Develop and execute market entry strategies, including feasibility studies, regulatory assessments, and market research to identify opportunities for product and opportunity introduction.
- Cross-functional Collaboration: Coordinate with product development, supply chain, legal, and marketing teams to ensure smooth launches, addressing local regulations and market preferences.
- Regulatory Compliance: Help understand market registration, ensuring that products meet all local regulatory and compliance requirements, including cosmetics certifications, licensing, and MLM-specific laws.
- Financial Planning: Work with finance teams to set budgets, forecast revenue, and assess the financial viability of new markets, ensuring that targets are met or exceeded. Develop and manage budgets for new market openings.
- Launch Execution: Manage end-to-end market launches.
- Distributor Relationships
- Distributor Support: Identify support needed to help distributors succeed, including training programs and marketing materials.
- Relationship Management: Establish strong relationships with top distributors by providing ongoing communication, coaching, and business development support to maximize sales potential.
- Distributor Retention: Monitor distributor performance, identify opportunities for improvement.
- Conflict Resolution: Help handle disputes with distributors, to maintain positive, productive partnerships.
- FP&A (Financial Planning & Analysis):
- Budgeting & Forecasting: Develop strategic forecasts and long-term financial plans, ensuring alignment with company growth objectives.
- Performance Tracking: Analyze business performance, identify trends, and prepare monthly, quarterly, and annual reports to track financial results versus targets.
- Commercial Insights: Provide detailed financial insights to support decision-making for commercial activities, including pricing, sales performance, and profitability analysis.
- Variance Analysis: Conduct variance analysis to explain differences between actual and forecasted financial results, working with stakeholders to mitigate risks and capitalize on opportunities.
- Scenario Planning: Provide financial modeling, scenario planning, and sensitivity analyses for various commercial initiatives, including pricing changes and market expansions.
- KPI Management: Define and track key financial and operational metrics to drive performance improvement and provide senior management with actionable insights.
- New Product Development (NPD):
- Product Financial Viability: Partner with Global Product Management and R&D teams to support the financial viability of new products, including pricing strategies, and margin targets, and ensure new product projects align with commercial objectives and financial targets.
- Cost Optimization: Collaborate to ensure new products are developed within cost targets and identify opportunities to optimize production costs and improve profitability.
- Post-Launch Review: Analyze financial performance of new products post-launch, identifying areas for improvement in pricing, costing, and sales strategies
Experience 5 years
Supervisory experience 3 years
Field of Experience Financial Analysis and Market Research, including project management
Education Bachelor/University Degree
Education Focus Economics, Statistics, or Business. Master’s or MBA degree preferred.
Skills and Abilities
- Must have strong PC skills with in-depth knowledge of spreadsheet software such as Excel, presentation software such as PowerPoint, and research, forecasting, analysis techniques and applications. Experience using Tableau preferred.
- Broad understanding of the global business environment, including the US. Cosmetics or FMCG experience preferred.
- Excellent verbal and written communication skills are required to interact with executive levels of management, including frequent presentations.
- Diplomacy skills are required to partner with, and lead discussions with various departments and markets, including those with non-financial backgrounds in order to gather data and provide information, and present findings to all levels of management.
- Inquisitive, innovative, adaptable to change and possessing the aptitude to approach problems from various viewpoints.
- Organizational skills to establish and execute against project timelines, balance multiple projects, and prioritize resources across teams to ensure projects stay on track.
- Understanding of primary and secondary sources for market research and sales insights to identify opportunities for growth, including Euromonitor.
