Description
Sales reserves comprise voluntary and mandatory price concessions, which we provide to our government and commercial customers. Given the fluidity of the macro healthcare environment and legislation, reserves have and will continue to be an exciting and dynamic area that has a major impact on Genentech’s bottom line. In 2012, reserves accounted for approximately 19% of Genentech’s US gross sales. The Finance Manager will be responsible for supporting the bottoms-up reserves forecasting process for the US portfolio as well as other cross-functional initiatives impacting reserves. This is a high profile role that will require significant interface with other finance colleagues and non-finance business partners across the organization. This position is part of the Functional Decision Support team and reports to the Senior Finance Manager on the Reserves Finance Team.
The position is located in South San Francisco, CA.
Responsibilities:
Sales reserves comprise voluntary and mandatory price concessions, which we provide to our government and commercial customers. Given the fluidity of the macro healthcare environment and legislation, reserves have and will continue to be an exciting and dynamic area that has a major impact on Genentech’s bottom line. In 2012, reserves accounted for approximately 19% of Genentech’s US gross sales. The Finance Manager will be responsible for supporting the bottoms-up reserves forecasting process for the US portfolio as well as other cross-functional initiatives impacting reserves. This is a high profile role that will require significant interface with other finance colleagues and non-finance business partners across the organization. This position is part of the Functional Decision Support team and reports to the Senior Finance Manager on the Reserves Finance Team.
The position is located in South San Francisco, CA.
Responsibilities:
- Maintain and assist framework for forecasting short and long-term sales reserves and excise tax for the Genentech portfolio to support all planning deliverables including the long-range business plan, 3-year brand plans, annual budget and forecast updates.
- Develop robust and scalable processes to facilitate real-time updates and reporting as well as ensure transparency of all assumptions and calculations.
- Develop statistical and analytical tools to drive deeper reserve trend understanding as well as improving forecast accuracy going forward
- In close collaboration with Corporate Accounting, Managed Care and Customer Operations, Marketing Analytics & Sciences, and Government Affairs, understand internal and external factors that will impact future reserve rates. Provide models, assumptions and timelines to Brand Finance Managers ahead of each forecast update. Flag areas that require additional focus or potential scenario analysis. Participate as needed at brand and business unit reserve forecast reviews.
- Drive and assist in Commercial Finance participation in cross-functional initiatives to determine impact of macro events on sales reserves forecasts, i.e. the Healthcare Reform and the Budget Control Act.
- Drive and assist in Commercial Finance collaboration with Corporate Accounting to ensure alignment of forecast assumptions and attempt to minimize forecast variances for the current quarter. Influence as appropriate Corporate Accounting processes and decisions.
- Consolidate and review portfolio level reserves forecast for senior management review and approval, including the Commercial Leadership Committee when applicable. Ensure adequate communication of risks to the forecast at the portfolio level and manage over-the-top portfolio level adjustments.
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