What are the responsibilities and job description for the Associate Manager - Strategic Pricing and Contracting position at Novo Nordisk?
Associate Manager - Strategic Pricing and Contracting
Facility: Market Access
Location:
Plainsboro, NJ, US
About the Department
The Finance, Insights & Enterprise Solutions department brings insights and intelligence to inform decision making & drives digitalization and business solutions to attain NNI goals. Finance, Insights & Enterprise Solutions works closely across the organization to guide enterprise-wide resource allocations, investment choices, drive core operations and develop insights to drive growth and operational excellence across the value chain while innovating for future capabilities. Our focus on innovation ensures we're constantly building future capabilities. We're responsible for regulating accounting, upholding workplace safety, managing our supply chain and sampling, supporting technological and data innovation, insights and analytics, delivering patient support solutions, maintaining our facilities and assuring the integrity and completeness of all business transactions. At Novo Nordisk, you will have the opportunity to build a life-changing career in a global business environment. We encourage our employees to make the most of their talent, and we reward hard work and dedication with opportunities for continuous learning and personal development. Are you ready to maximize your potential with us?
The Position
This position is responsible for managing the entire deal evaluation/development process from contract inception through final approval. This includes the strategic assessment, deal structure, analysis, forecasting and reporting of contract profitability of 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.
Relationships
The position reports to a Senior Manager, an Associate Director, or a Director in Strategic Pricing and Contracting. The individual will partner and work closely with a number of internal and external functions within NNI including; Brand Teams; VP, PCOR; Director, Pricing and Market Access Insights; Senior Director, Strategic Pricing and Contracting; Government Pricing Team; Market Access (VP, Directors and Account Executives); Pricing Committee and to a lesser degree Forecasting; Health Economics; FP&A; Legal; Commercial Insights and Analytics.
Essential Functions
- Builds trusting, collaborative relationships and alliances with others, inside and outside of the organization
- Demonstrates knowledge of internal business operations and applies this knowledge to analyses, processes and deliverables
- Assists with the deal evaluation process to support implementation of Market Access Strategy and Innovation
- Identifies opportunities for account profitability optimization within a PBM/GPO and works in collaboration with Market Access Director and Director in Strategic Pricing and Contracting to execute on the opportunities
- Structures all offers with respect to the development of financial analytics and profitability metrics
- Assists with the development of presentations for senior management regarding all US pricing deals
- Assists with the development of Pricing Committee business cases and financial analysis
- Works closely with Strategy Directors to ensure all offers align with all aspects of approved strategies
- Ensures all Terms & Conditions align with anticipated deal structure
- Trains and mentors new team members in the areas of systems, processes, analytic models and presentations
- Develops trackers and performance metrics for new product launch teams
- On an ad hoc basis, develops reports that monitor and evaluate Managed Markets performance at customer and channel levels
- Partners and works closely with the Sr. Director, Strategic Pricing and Contracting, Strategy Directors and Account Directors/Executives to finalize all proposals for key stakeholders
- Partners and works with Pricing and Market Access Insights to compile, communicate and forecast all contracting events impacting the company forecast (rebate and volume)
- Understands competitive dynamics to identify key opportunities and threats and incorporates into strategies and plans
- Autonomously authors contract documents based on approved products and pricing, market baskets, and product positioning requirements. Independently works with customers and internal functional areas to reach agreement on business and legal aspects of a contract. Provides such documents to the account executive and/or customer within the required time frame
- Obtains all appropriate and required internal reviews and approvals for contract terms and provisions. Ensures accuracy of pricing, market baskets, and terms within appropriate documents and timely submission of contracts to customers following offer approvals
- Consistently follows company policies and procedures to ensure compliance with all guidelines, Sarbanes Oxley compliance, regulations, and policies
- Advises leadership and stakeholder functional areas of contractual rights, obligations and risk analysis, as necessary
- Maintains contractual information, including negotiation status and agreed upon terms and conditions, in Contract Lifecycle Management Tool (CLM)
- Updates contract templates as market baskets and standard terms change
- Identifies opportunities and makes recommendations for optimal performance, processes, and compliance improvement across entire contract management continuum
- Leads with excellent communication and interpersonal skills and demonstrates effectiveness at working effectively with stakeholders
Physical Requirements
0-10% overnight travel required.
Qualifications
- A Bachelor’s degree required; degree in Business preferred. Legal experience a plus
- A minimum of four (4) years of relevant experience, in the areas of pricing, contracting, forecasting, and/or portfolio analysis required; pharmaceutical experience preferred
- Ability to perform analysis; identify trends and insights; and translate into actionable insights (analytical, quantitative, and qualitative) required
- Understanding of pharmaceutical contracting, distribution channels, and products (understanding of therapeutic areas, drug administration)
- Advanced proficiency in Microsoft Excel, Word, Access, PowerPoint, Word, and other key platforms
- Ability to interact with various departments and levels internally, collaborating with all stakeholders to develop and execute tactics that best achieve goals within deadlines
- Strong attention to detail with an ability to identify contract risk and solve data problems
- Excellent communication and negotiation skills
We commit to an inclusive recruitment process and equality of opportunity for all our job applicants.
At Novo Nordisk we recognize that it is no longer good enough to aspire to be the best company in the world. We need to aspire to be the best company for the world and we know that this is only possible with talented employees with diverse perspectives, backgrounds and cultures. We are therefore committed to creating an inclusive culture that celebrates the diversity of our employees, the patients we serve and communities we operate in. Together, we’re life changing.
Novo Nordisk is an equal opportunity employer. Qualified applicants will receive consideration for employment without regard to race, ethnicity, color, religion, sex, gender identity, sexual orientation, national origin, disability, protected veteran status or any other characteristic protected by local, state or federal laws, rules or regulations.
If you are interested in applying to Novo Nordisk and need special assistance or an accommodation to apply, please call us at 1-855-411-5290. This contact is for accommodation requests only and cannot be used to inquire about the status of applications.
