Why would I want this job?
The Associate Director, Gross-to-Net Finance will be a key member of the Finance & Accounting organization, leading the accounting and forecasting for pharmaceutical gross-to-net (GTN) revenue deductions across all channels, as well as providing financial support to our established products portfolio. This individual is responsible for applying accounting principles and procedures to ensure the preparation of accurate and timely financial information to Management and Parent Company.
What would I be doing?
- Responsible to perform analysis that provide greater visibility of the value chain economics (pricing, commercial contracting, channel metrics, impact of policy changes, etc.) and brings insights to stakeholders in the organization in support of planning, forecasting, and strategy decisions.
- Prepare Policies, Procedures, SOP’s, and Accounting memos for to support Gross to Net and Revenue Accounting.
- Manage Gross-To-Net (GTN) function including all accounting and analysis related to closing, including maintaining and ensuring compliance with JSOX controls and documentation requirements; review, analysis, and pressure testing of gross-to-net accounting estimates/accruals, and working closely with government pricing, contracting, and market access teams.
- Develop and maintain Balance Sheet Analytics for all GTN accounts including Medicaid, Part D, Commercial, 340B, returns, DSA fees, prompt pay, Tricare, and Coverage Gap.
- Responsible for Revenue Recognition accounting in accordance with IFRS 15; maintain accurate accounting records for US legal entities and ensure compliance with IFRS; oversee the identification and calculation of month end accruals.
- Lead financial expert for product launches by providing benchmarking and insights on GTN liabilities across government and commercial channels, including managed care contract, Medicaid, 340B, Tricare, returns, co-pay, prompt pay, Distributor fees, and Coverage Gap
- Develop and maintain monthly forecasting models to support budget and LE process. Review actual claims and Balance Sheet analytics to ensure alignment and consistency between historical actuals and forecasts. Document assumptions for any deviations from historical claims data. Provide General Accounting team with accrual rates to apply against monthly factory sales.
- Provide Management with insight and detailed explanations for fluctuation between forecasted rates, and actual GTN deductions.
- Manage monthly close process for GTN and the established product portfolio, including established accruals, providing critical analysis of data, and alert management to potential changes that may affect their business.
- Active member or pricing committee supporting Management in key product pricing decisions. Work closely and support Market Access team in the development of models supporting those pricing decisions.
- Collaborate with Canadian General Manager and Market Access team to stay informed on Canadian market trends. Develop and maintain forecast models for Public and Private Payers. Prepare Balance Sheet analytics to ensure adequate reserves for Publics & Private Payers.
- Stay abreast of emerging healthcare & pharmaceutical industry trends and assess their potential impact on GTN forecasting and accruals.
- Support Market Access & Government Reporting team in analysis of bonafide service fees and other special projects
- Perform other account analysis and lead other special projects on as needed basis.
What would make me qualified?
- Qualified Revenue/GTN Accountant with 5+ years’ experience in gross to net accounting and forecasting
- Strong working knowledge of US GAAP. IFRS and/or JSOX knowledge a plus.
- Strong working knowledge of ASC 606 and/or IFRS 15 required.
- Strong financial background including experience in working with a variety of financial reporting systems with an emphasis on Excel.
- Experience in Pharmaceutical industry required (8+years).
- Previous experience of multinational operations and inherently tight reporting deadlines would be beneficial.
- Proficient in MS Office
- Working knowledge of Great Plains/Dynamics/MS365
- Highly motivated and great attention to detail.
- Strong endurance to work under tight timelines and complex/changing situations.
- Excellent written and oral communication skills.
- Excellent problem-solving skills.
- Broad level of interpersonal skills and flexibility.
- Cultural sensitivity and ability to develop consensus within a multinational organization.