Incentive Compensation Manager

Deerfield, IL

Employer:

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. Cross-team 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 Lundbeck's 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 on-going 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 cross-functional 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 Bachelor's 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 problem-solving skills
Strong communication skills, both written and verbal with an ability to communicate with both technical and non-technical 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 fast-paced environment

PREFERRED EDUCATION, EXPERIENCE, and SKILLS:

Accredited Master's 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/ non-retail, 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 candidate's qualifications, skills, competencies, and proficiency for the role. Salary Pay Range: $110,000 - $130,000 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. #LI-LM1

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. 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 E-Verify.

About Lundbeck

At Lundbeck, our most important contribution is easing the burden of the millions of people living with brain disorders. Whether it is migraine, depression, or other brain disorders, patients, their carers, and society as a whole depend on us.

Through cutting edge science and strong partnerships, we develop and market some of the world's leading treatments, expanding into neuro-specialty and neuro-rare from our strong legacy within psychiatry and neurology.

The brain health challenge is real. Our commitment is real. Our impact is real.

About Lundbeck

At Lundbeck, our most important contribution is easing the burden of the millions of people living with brain disorders. Whether it is migraine, depression, or other brain disorders, patients, their carers, and society as a whole depend on us.

Through cutting edge science and strong partnerships, we develop and market some of the world's leading treatments, expanding into neuro-specialty and neuro-rare from our strong legacy within psychiatry and neurology.

The brain health challenge is real. Our commitment is real. Our impact is real.

Back