Date: Dec 5, 2023
Location:
Parsippany, United States, 1111
Company: Teva Pharmaceuticals
Job Id: 52840
Teva is a global pharmaceutical leader and the world's largest generic medicines producer, committed to improving health and increasing access to quality health solutions worldwide. Our employees are at the core of our success, with colleagues in over 80 countries delivering the world's largest medicine cabinet to 200 million people every day. We offer a uniquely diverse portfolio of products and solutions for patients, and we've built a promising pipeline centred around our core therapeutic areas which include neuroscience, immunology, and immuno-oncology. We are continually developing patient-centric solutions and significantly growing both our generic, biosimilar, and innovative medicines business through investment in research and development, marketing, business development and innovation. This is how we improve health and enable people to live better, healthier lives. Join us on our journey of growth!
We are seeking a dynamic leader as the Vice President of US Revenue Optimization and Contract Compliance with expertise in the US Pharmaceutical industry. You will lead a team of 50+ individuals in the management of Teva US revenue related to all discounts and deductions and is part of the North America Finance Leadership team.
The position requires a strong understanding of the complete revenue cycle from sale to discounts to net collections, including discounting, contracting, government regulations, forecasting, cash flow and GAAP. The ability to interact with and influence Finance, Legal, Market Access, IT and Commercial Operations is essential. You will understand discounting across product portfolios and drive strategies aimed at eliminating revenue leakage. This role requires close collaboration with internal business partners that affect P&L results/strategic forecasts and claims processing.
Your team will process and analyze customer chargebacks and provide customer response regarding any chargeback discrepancies. Additionally, they will evaluate charges to analyze contract, product and pricing disputes between company and customers, investigate contract eligibility with customers and solve issues that arise with — and support communication between—company and customers to verify warranted credits. You will also be responsible for providing feedback and recommendations to the brand, account management and access teams to support decision making around contract optimization with the primary objective of helping Teva protect against revenue leakage from paying duplicate or erroneous claims or breaches in contract.
Set strategic direction for commercial business with regard to discounts, rebates, chargebacks contract compliance, and impact on company financial results.
Establish organizational understanding of core gross to net (GTN) components, work with other functional commercial areas to incorporate.
Oversee the GTN process, partnering with commercial marketing, pricing & contracting, and accounting to develop quarterly, annual, and long-range gross to net business operating plans
Lead the development of GTN forecast inputs and create GTN forecast models to determine discount calculations; Manage team which performs routine budget vs actual analysis and reporting for organizational awareness and planning.
Conduct quarterly forecast review meetings with revenue accounting and finance teams; participate in executive management reviews.
Anticipate and evaluate financial risks and opportunities impacting gross to net results.
Ensure contract accuracy and completeness in line with contract administration activities, including chargebacks, returns and rebates.
Support contracting efforts through the evaluation of financial implications of contracting changes.
Oversee and manage the contract compliance and claims process to ensure accuracy.
Ability to understand, apply critical thinking and influence the effective management of complex industry issues such as 340B, utilizing third party resources where appropriate.
Manage outsourced/co-sourced resources and potential analysis of what services should be outsourced.
Provide support by guiding other members of the team to make decisions in day-to-day questions, i.e. forecasting methodology, analysis of revenue and cost trends, escalation of claims processing and clawbacks, etc.
Continually seeks out opportunities for functional improvement and improved business processes, which leverage analytics and automation to drive efficiencies and reduce revenue leakage.
BA in economics or related field with an MBA, CPA or CFA preferred.
10-15 years of experience at VP/Sr. Director (or equivalent) level of relevant finance or accounting.
Deep understanding of pharma (both brand and generic) competitive landscape and key account dynamics, trends, govt. reporting requirements, best price etc.
Hands-on, detailed approach to understanding key aspects of the business, contracts, and customers.
Thorough understanding of financial accounting principles, revenue accruals, GAAP, etc.
Familiarity with different contracting strategies, rebate types, and their impact on accruals and forecasts revenue and cost trends.
Experience working with SAP, Oracle BI and Model N.
Experience working with sales, marketing and legal teams to partner on GTN forecasting.
Audit or compliance experience is preferred with attention to financial considerations and available mechanisms for reducing leakage and contract complexities.
Ability to quickly, embrace new challenges, and leverage the expertise across the organization to drive business decisions.
Diplomatic and strategic, at ease with people across levels, functions and cultures, including the senior-leadership team of the company.
Familiarity with 3rd party data sources including IQVIA and CMS data
SVP, NA CFO
If you are a current Teva employee, please apply using the internal career site available on "Employee Central". By doing so, your application will be treated with priority. You will also be able to see opportunities that are open exclusively to Teva employees. Use the following link to search and apply: Internal Career Site
The internal career site is available from your home network as well. If you have trouble accessing your EC account, please contact your local HR/IT partner.
Teva Pharmaceuticals is committed to equal opportunity in employment. It is Teva's global policy that equal employment opportunity be provided without regard to age, race, creed, color, religion, sex, disability, pregnancy, medical condition, sexual orientation, gender identity or expression, ancestry, veteran status, national or ethnic origin or any other legally recognized status entitled to protection under applicable laws. We are committed to a diverse and inclusive workplace for all. If you are contacted for a job opportunity, please advise us of any accommodations needed to support you throughout the recruitment and selection process. All accommodation information provided will be treated as confidential and used only for the purpose of providing an accessible candidate experience.
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