Associate Director, Field Incentive Compensation - Parsippany, NJ
Associate Director, Field Incentive Compensation - Parsippany, NJDate: Oct 9, 2024Location:Parsippany, United States, New Jersey, 07054Company: Teva PharmaceuticalsJob Id: 58717Who we areTogether, 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 opportunityReporting 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 dayAll 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 qualificationsAny 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 player to achieve common goals without hierarchy, politics or self-interest.
Strong analytical and/or mathematical modeling skillset
Detail oriented and data driven
Strong communication skillset
Enjoy a more rewarding choiceWe offer a competitive benefits package, including: Comprehensive Health Insurance: Medical, Dental, Vision, and Prescription coverage starting on the first day of employment, providing the employee enrolls. Retirement Savings: 401(k) with employer match, up to 6% and an annual 3.75% Defined Contribution to the 401k plan. Time Off: Paid Time Off including vacation, sick/safe time, caretaker time, 13 paid Holidays and 3 paid floating holidays. Life and Disability Protection: Company paid Life and Disability insurance. Additional benefits include, but not limited to, Employee Assistance Program, Employee Stock Purchase Plan, Tuition Assistance, Flexible Spending Accounts, Health Savings Account, Life Style Spending Account, Volunteer Time Off, Paid Parental Leave, if eligible , Family Building Benefits, Virtual Physical Therapy, Accident, Critical Illness and Hospital Indemnity Insurances, Identity Theft Protection, Legal Plan, Voluntary Life Insurance and Long Term Disability and more.Already Working @TEVA?If you are a current Teva employee, please apply using the internal career site available on "Employee Central". By doing so, your application will be treated with priority. You will also be able to see opportunities that are open exclusively to Teva employees. Use the following link to search and apply:Internal Career Site (https://performancemanager.successfactors.eu/sf/careers/jobsearch?bpltecompany=1080030P)The internal career site is available from your home network as well. If you have trouble accessing your EC account, please contact your local HR/IT partner.Teva’s Equal Employment Opportunity CommitmentTeva Pharmaceuticals is committed to equal opportunity in employment. It is Teva's global policy that equal employment opportunity be provided without regard to age, race, creed, color, religion, sex, disability, pregnancy, medical condition, sexual orientation, gender identity or expression, ancestry, veteran status, national or ethnic origin or any other legally recognized status entitled to protection under applicable laws. We are committed to a diverse and inclusive workplace for all. If you are contacted for a job opportunity, please advise us of any accommodations needed to support you throughout the recruitment and selection process. All accommodation information provided will be treated as confidential and used only for the purpose of providing an accessible candidate experience.Important notice to Employment Agencies - Please Read CarefullyTeva Pharmaceuticals USA does not accept unsolicited assistance from agencies for employment opportunities. All CVs / resumes submitted by search firms to any employee at our company without a valid written search agreement in place for this position will be deemed the sole property of our company. No fee will be paid in the event a candidate is hired by our company as a result of an agency referral where no pre-existing agreement is in place. Where agency agreements are in place, introductions are position specific. Please, no phone calls or emails.EOE including disability/veteran