Job opportunities

Incentive Compensation Manager

Location

Illinois

City

Deerfield

Department

480 - Sales Operations

Description

Incentive Compensation Manager

SUMMARY:

At Lundbeck, we believe life is too precious to be interrupted by brain disorders. Lundbeck is uncompromisingly committed to the research, development and delivery of targeted therapies for people living with significant psychiatric and neurological disorders. We pursue imaginative solutions, driven by passionate people committed to do the right thing for our patients, our company and our communities. Lundbeck strives to be a leader in depression, schizophrenia, Alzheimer’s disease and Parkinson’s disease.

For Lundbeck, making a meaningful difference for patients is more than an aspiration; it is a commitment that shapes everything we do. Patient advocacy is at the core of who we are and motivates every individual at Lundbeck. Our engagement with the communities we serve grants us better understanding of the needs of patients and their families; and that drives us to develop innovative therapies and impactful programs for patients and caregivers.

The Incentive Compensation Manager will be responsible for developing sales force incentive compensation solutions that effectively motivate the sales force and achieve the sales and marketing strategy. The position: primarily interfaces with sales, brand and general management; focuses on plan design, goal / quota setting, awards and recognition, reporting and administration; and coordinates with co-promotion IC leads at respective co-promotion partner companies.

ESSENTIAL FUNCTIONS:

Incentive Compensation Design

  • Designs incentive plans in collaboration with sales and marketing management that align with the brand and sales strategy as well as our IC Philosophy
  • Aligns metrics with corporate forecasts to ensure plans are financially viable
  • Develops various plan design options and conduct relevant analyses for each option to appropriately evaluate each option
  • Reviews and finalizes trimesterly plans with management
  • Executes on IC production schedule as determined by cross-functional team

Goal / Quota Setting

  • Designs methodology for allocating the national commercial demand forecast goal to the sales force
  • Conducts fairness testing to ensure goals (or other metrics) are fair and equitable for each individual in the field
  • Calculates final goals and metrics to be used to track performance
  • Develops communication materials for the field, including summary materials for sales management
  • Communicates goals/quotas/baseline to the field and presents to sales management

Administration

  • Plans and coordinates implementation of incentive plan with related areas (business operations and sales management)
  • Designs and develops tools for the field to calculate and project incentive compensation payouts
  • Creates monthly sales force performance reports for Account Managers, Area Sales Managers, Regional Sales Directors and National Sales Director
  • Projects and accrues payouts
  • Creates payroll files and summary documentation
  • Investigates and resolves data and field inquiries
  • Collaborates with Legal and Sales leadership to create and maintain eligibility documents
  • Partners with HR, Training and Sales Leadership to maintain and track eligibility for all field sales programs
  • Collaborates with HR and Sales leadership on the calculation of mid-year and year-end sales performance metrics

Awards and Recognition

  • Designs and implements a methodology for allocating the national awards
  • Collaborates with Marketing and field sales to design and implement SPIFFs and local contests
  • Ensures national awards and contests are fiscally responsible and paid in a timely manner
  • Calculates final All-Star awards

Other

  • Prepares data and ad hoc analysis as needed
  • Evaluates / determines / oversees vendors and contractors to provide additional analysis / support

REQUIRED EDUCATION, EXPERIENCE and SKILLS:

  • Accredited Bachelor’s degree 
  • 3+ years related analysis experience in areas including sales operations, marketing, finance, etc.
  • 3+ years sales force incentive compensation experience
  • Experience with data (i.e., retail / non-retail, specialty pharmacy, payer, claims, etc.)
  • Demonstrated experience in designing commercial analytical methods
  • Strong data management skills, including Excel, and/or Microsoft Access
  • Strong quantitative and analytical skills
  • Strong communication skills, both written and verbal
  • Experience developing presentations and presenting with PowerPoint

PREFERRED EDUCATION, EXPERIENCE AND SKILLS: 

  • Accredited Master’s Degree
  • 3+ years pharmaceutical sales force incentive compensation
  • Experience with other Sales Operations processes such as SFA systems, reporting, call planning or promotional response
  • Complete knowledge of pharmaceutical data (i.e. retail/ non-retail, specialty pharmacy, payer, claims, etc.)
  • Project Management
  • Experience interfacing with a co-promotion partner

TRAVEL

  • Willingness to travel up to 20% domestically. International travel may be required.

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Lundbeck is a global pharmaceutical company highly committed to improving the quality of life of people living with psychiatric and neurological disorders.

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