Senior Sales Compensation Analyst

Description:

The Sr. Analyst, Sales Compensation is a key member of the Commercial Operations team within the specialty pharmaceutical business unit. The responsibilities include ensuring accurate and timely calculations and payments, collaborating with cross-functional teams such as Sales, Finance, and Human Resources, and maintaining effective compensation processes and policies. The Sr Analyst will develop a deep understanding of the company's incentive plans, manage data collection and validation, and perform regular audits to resolve discrepancies. This position will provide support to sales representatives and managers by generating performance reports.

Essential Functions:

• Sales Compensation - Administer and Oversee Programs: Accurately manage and execute the company's incentive compensation programs, ensuring precise and prompt calculations and payments for Specialty & Bioscience staff. Cross-Functional Collaboration: Work collaboratively with various departments, including Sales, Finance, Legal, Compliance and Human Resources, to develop and maintain efficient incentive compensation processes and policies. In-Depth Plan Understanding: Gain a comprehensive understanding of the company's incentive plans, including metrics, targets, and payout structures, to effectively manage and communicate them. Data Management and Validation: Partner with Analytics to ensure the meticulous collection, validation, and integration of data into the compensation system . Audit and Analyze: Conduct regular audits and thorough analysis of incentive compensation data to identify, address, and rectify any discrepancies or inaccuracies. Support and Guidance: Provide clear support and guidance to sales representatives and managers on incentive compensation plans, calculations, and payouts. Stay Informed: Keep abreast of industry best practices and trends related to incentive compensation administration, suggesting enhancements to current processes and systems System Optimization: Collaborate closely with the Analytics department to enhance and streamline the compensation system, ensuring its accuracy, functionality, and user-friendliness. Record Maintenance: Maintain accurate and confidential records of incentive compensation plans, payments, and all related documentation
• Promotional Effectiveness - Collaborate with the analytics team, HR, and sales management to pinpoint performance enhancement opportunities within the promotional sales force. Create detailed automated reports and perform analysis on incentive compensation performance, tracking individual and team achievements against established targets. Support the quarterly review of individual index values in collaboration with HR, compliance, sales leadership and operations; including maintaining performance records, coordinating meeting times and documenting next steps and action plans
• Business Acumen - Business Strategy Development: Develop a strong business acumen to help ensure compensation plans influence company growth and profitability. Develop an awareness of the nuances of both Specialty and Biosciences selling models. Stakeholder Communication: Effectively communicate complex business concepts and strategies to stakeholders at all levels, tailoring presentations to diverse audiences. Presentation Development: Design and deliver compelling presentations that clearly convey business objectives, strategies, and results to internal and external stakeholders. Problem-Solving: Apply critical thinking and problem-solving skills to address business challenges, developing innovative solutions that align with company goals.

Qualifications:

Education:

• Bachelors Degree (BA/BS) Business, Accounting, Finance or Marketing - Required

Experience:

• 5 years or more in experience in Sales Compensation administration, reporting and analytics, preferably in the medical device/ pharmaceutical industry

Skills:

• Presentation skills - Advanced
• Excel and PowerPoint - Advanced