Incentive Compensation Manager
Incentive Compensation Manager
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$ 110000 - 130000
1 Vacancy
Job Description
Do you want to join a team where the mission is meaningful the challenges are complex and you can directly see the results of your hard work Lundbeck is a global biopharmaceutical company focusing exclusively on brain health. With more than 70 years of experience in neuroscience we are committed to improving the lives of people with neurological and psychiatric diseases. Lundbeck employees are inspired and driven by our purpose to advance brain health and transform lives. Join us on our journey of growth!
SUMMARY:
The Incentive Compensation Manager will be responsible for sales force incentive compensation solutions that effectively motivate the sales force and achieve the sales and marketing strategy. The position is responsible for a single salesforce and primarily interfaces with sales and brand leadership focusing on plan design goal / quota setting analysis split credit contests awards and recognition reporting administration and communication of plans. Crossteam collaboration time management and excellent communication and analytical skills are essential.
ESSENTIAL FUNCTIONS:
Incentive Compensation Design
- Involved in the design of the incentive plans for a single sales force in collaboration with sales and marketing leadership that align with the brand and sales strategy as well as Lundbecks IC Philosophy
- Under the guidance of IC leadership develops various plan design options and conduct relevant analyses to appropriately evaluate each option
- Maintains strong controllership ensuring all compensation methodologies policies procedures and governance are followed.
- May support the Sr. Mgr as necessary in the design of other incentive compensation plans.
Analytics
- Provides analysis with ongoing process improvement efforts & simplification regarding IC cross functionally.
- Delivers ad hoc analysis as needed for review with senior management.
- Investigates and resolves data related field inquiries in a fair and customer centric manner.
Goal/Quota Setting
- Analyzes methodology for allocating the national forecast for a single sales force including fairness testing to ensure territory goals (or other metrics) are fair and equitable
- Evaluates & analyzes the territory goals/growths and provides recommendations to IC Leadership.
- Leads trimester split credit processes including collaboration and coordination with the internal cross functional teams and communication and trainings of area sales managers
- Leverage the corporate forecasts to develop the goal growths & present to IC Governance.
- Communicates field goals through BI reporting systems and supports in the presentation to sales management
Administration
- Plans and supports the implementation of incentive plan for a single sales force Reviews and analyzes the monthly performance reports for the field team.
- Responsible for Monthly Tracking of program performance including eligibility projecting payouts and the payroll file creation and approval process and summary documentation.
- Supports the communication of Plan Contests Awards Results and Reports to IC Governance Committee Sales and Marketing Leadership and Field Sales team
- Executes on IC production schedule as determined by crossfunctional team.
Awards and Recognition
- Supports the Design Implementation Monthly Reporting Calculation of Winners for the national sales award programs (Circle of Excellence Individual and Team awards programs)
- Collaborates with Marketing and Sales leadership to design and implement sales contests that drive strategic brand initiatives
REQUIRED EDUCATION EXPERIENCE and SKILLS:
- Accredited Bachelors degree with 3 years of industry (pharmaceutical healthcare medical device) or consulting business experience with quantitative analytics financial sales operations incentive compensation and/ or project management focus
- 1 years sales force incentive compensation experience
- Strong analytical and problemsolving skills
- Strong communication skills both written and verbal with an ability to communicate with both technical and nontechnical subject matter experts
- Proven ability to work on multiple projects simultaneously taking initiative and working independently
- Strong consultation and presentation skills
- Ability to establish detailed timelines and ensure milestones are completed
- Strong Microsoft Excel PowerPoint and Word skills
- Ability to operate in a fastpaced environment
PREFERREDEDUCATION EXPERIENCE and SKILLS:
- Accredited Masters Degree
- 2 years pharmaceutical sales force incentive compensation
- Experience with other Sales Operations processes such as CRM systems reporting call planning or promotional response
- Experience working with Business Intelligence reporting tools (Qlik Power BI Tableau)
- Knowledge of pharmaceutical data (i.e. retail/ nonretail specialty pharmacy payer claims etc.
- Experience communicating with multiple levels of leadership
- Project Management Skills
TRAVEL:
- Willingness/Ability to travel up to 20 domestically. International travel may be required.
The range displayed is specifically for those potential hires who will work or reside in the state of Illinois if selected for this role and may vary based on various factors such as the candidates qualifications skills competencies and proficiency for the role. Salary Pay Range: $110000 $130000 and eligibility for a 10 bonus target based on company and individual performance. Benefits for this position include flexible paid time off (PTO) health benefits to include Medical Dental and Vision and company match 401k. Additional benefits information can be found on our career site. Applications accepted on an ongoing basis. #LILM1
Why Lundbeck
Lundbeck offers a robust and comprehensive benefits package to help employees live well and protect their health family and everyday life. Information regarding our benefit offering can be found on the U.S. career site.
Lundbeck is committed to working with and providing reasonable accommodations to disabled veterans and other individuals with disabilities during our employment application process. If because of a disability you need a reasonable accommodation for any part of the application process please visit the U.S. career site.
Lundbeck is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race color religion sex sexual orientation gender identity age national origin disability protected veteran status and any other characteristic protected by law rule or regulation. Lundbeck participates in EVerify.
Required Experience:
Manager
Employment Type
Full Time
