Senior Manager, Gross to Net
Cary, NC, US
About us
Based in Parma, Italy, Chiesi is an international research-focused pharmaceuticals and healthcare group with over 85 years’ experience, operating in 30 countries with more than 6,000 employees (Chiesi Group). To achieve its mission of improving people’s quality of life by acting responsibly towards society and the environment, the Group research, develops and markets innovative drugs in its three therapeutic areas: AIR (products and services that promote respiration, from new-born to adult populations), RARE (treatment for patients with rare and ultra-rare diseases) and CARE (products and services that support special care and consumer-facing self-care).
We are proud to be the largest global pharmaceutical group to be awarded B Corp Certification, a recognition of high social and environmental standards. We are a reliable company that adopts and promotes transparent ethical behavior at all levels.
We are committed to embrace diversity, inclusion and equal opportunities. In fact, we are a global family made up of different cultures, different genders, generations, ethnicities, abilities, sexual identities and many other enriching diversities.
Chiesi USA
Chiesi USA is a specialty pharmaceutical company focused on developing and promoting products for the hospital, adjacent specialty and rare disease markets. We are a B Corp™ and Benefit company awarded Top Employer status for six consecutive years and certified as a Great Place to Work.
At Chiesi, we share an entrepreneurial spirit and act as a force for good, pursuing high social and environmental standards, to ensure the wellbeing of our people, patients, and communities. We offer a work environment where professionals have the opportunity to build a purposeful career focused on helping others while achieving a fulfilling work-life balance, meeting exciting challenges, and engaging in important and rewarding work.
What we offer
Chiesi offers competitive benefits, services, and programs that enrich the personal and professional lives of our employees. Our shared values of passion, innovation, trust and integrity bring out the individual talents and diverse perspectives of each of our colleagues. Our environment encourages each individual to reach his or her full potential and drive outstanding results. We celebrate that “Every one of us is different. Every one of us is Chiesi."
Who we are looking for
Purpose
This position is the steward of the gross-to-net governance committee and will lead initiatives to improve and enhance the Company’s gross to net revenue recognition processes including related reporting, risk mitigation and internal controls. The Manager will maintain responsibility for revenue accounting, specifically the management of gross-to-net allowances, related month-end close and reporting, trend analyses and forecasting. The job has a high level of cross-functional interaction requiring timely coordination and evaluation of all gross-to-net component inputs and trends with various departments.
This will be a hybrid work model with 3 working days onsite in our Cary, NC office.
Main Responsibilities
Gross to Net Governance:
- Create and maintain a streamlined operational process and related documentation listing process steps such as timing and decision stage-gates for gross to net evaluation.
- Establish quarterly alignment sessions with the governance team to review quarterly actual results and discuss early action to rates prior to forecast cycle.
- Represent Finance on the Pricing Committee and present trends/analyses to be used in making product pricing decisions
- Create and maintain revenue accounting procedures and policy manuals.
- Evaluate, implement and administer any revenue systems and databases with assistance of IT department.
- Evaluate best use of current ERP and Reporting system data/reports to enhance process efficiency.
- Assist with process improvements, risk mitigation and internal control enhancement.
- Attend industry knowledge conferences to understand customary practices and anticipate impact from changes in regulations.
- Lead general gross to net education sessions for other employees, as needed
Gross to Net Revenue Accounting/Month End Close:
- Oversee month end closing process for entire product portfolio including roll forwards of reserve accounts. Process includes preparing and posting adjustments, journal entries and accounting reconciliations.
- Perform monthly reasonableness procedures to review accuracy of balance sheet reserves.
- Provide input and assist accounting department with impact of gross to net fluctuations on royalty calculations, if any.
- Assist with year-end audit inquiries related to revenue accounting.
Gross to Net Revenue Analysis:
- Assist Revenue Analyst with weekly Net Sales Reports as needed and commentary on any expected changes in rates.
- Establish and maintain insightful analytics and KPIs for each sales allowance to provide better visibility into historical trends and assist with forecasting decisions.
- Develop and maintain trend data to support gross to net analyses.
- Review quarterly analyses of rates and accrual adequacy for each sales allowance by product prepared by Revenue Analyst. Document assumptions, methods and conclusions in accounting memo.
- Prepare monthly and quarterly gross to net revenue analysis and commentary, as needed.
- Conduct ad-hoc analyses as required
Gross to Net Revenue Forecasting:
- Lead forecast and budget gross to net estimation processes, ensuring timely submission of data and accountability from all members of the governance committee.
- Develop, maintain and document rates of gross to net sales allowances, with understanding of assumptions behind each assumption by product.
- Use routine analyses to highlight potential changes in forecast assumptions based on new or anticipated changes in the business
Team Management:
- Directly manage employees on the GTN team in accordance with the organization's policies and applicable laws
- Develop employees through collaborative goal setting, identification of strengths/opportunities, regular meetings and both informal and formal evaluations
- Ensure an appropriate level of cross training of team members to preserve continuity
Experience Required
- 5+ years accounting/finance experience with at least 1-2 years focused experience in revenue accounting in the pharmaceutical industry
- Pharmaceutical experience required
- 1-2 years of people management experience required
- Excellent analytical skills and interest in identifying the root of complex issues and resolution of problems
- Demonstrated proficiency in written, verbal and face-to-face communication
- Ability to multitask, respond successfully under pressure, effectively prioritize, and manage time and workload to meet business needs
- Detail oriented with ability to work through ambiguous data with cross-functional team members
- Ability to act and operate independently with minimal daily direction from manager/supervisor to accomplish objectives.
- Advanced skill in MS Office Excel
- Aptitude to learn computer programs as needed. SAP experience a plus.
- Must be able to work hybrid model out of Cary, NC office
Education
Bachelor’s degree or higher in accounting or finance, CPA designation preferred
Chiesi USA is an equal opportunity employer committed to hiring a diverse work force at all levels of our business. All qualified applicants receive consideration for employment without regard to race, national origin, age, sex, religion, disability, sexual orientation, marital status, veteran status, gender identity or expression or any other basis protected by local, state or federal law. This policy applies with regard to all aspects of one’s employment, including hiring, transfer, promotion, compensation, eligibility for benefits and termination.
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