Sr. Incentive Compensation Analyst (Addison, IL)
The Senior Incentive Compensation Analyst will be responsible for administration of commission compensation programs and customer rebate programs. The position executes compensation programs utilizing data from performance tracking, reward calculations, reporting and analysis, and dispute resolution. Responsibilities also include tracking customer volume and ratio metrics based on contracted rebate commitments. The role ensures consistency across reports and financial adjustments. Developing and managing a comprehensive sales reporting database is required to fulfill standardized and ad-hoc reporting requirements for the Sales and Service groups.
Job Functions:
- Works closely to develop Sales Plans for the Field Sales and Service teams.
- Develop improved processes to maintain and update a sales commission database for field representatives, ensuring all associate moves are accounted for and tracked with accuracy.
- Responsible for territory alignment and sales plan related tasks.
- Reconcile sales commission updates by position to financial plan on a monthly basis.
- Manage monthly sales reporting process, including extracting sales data, tracings, and adjustments.
- Continuously audit all systems (Database, SAP, COGNOS) to ensure consistency of data across all systems.
- Create ‘President’s Club’ Program for monthly Sales Team rankings and annual award determinations.
- Work closely with Sales Management to understand business needs in order to identify, develop, and implement enhancements to reporting deliverables.
- Responsible for identifying and handling the calculation of proration’s for transfers, LOAs, new hires, and terminations.
- Maintain compensation software used to track and pay commissions, including plan updates, reconfiguring calculations, adjusting plan components, and ensuring reporting reflects the updated calculation.
- Maintain and audit reports used to track movements.
- Responsible for interfacing with the sales team to advise and handle difficult commissions and payout questions and sales commission payout changes throughout the year.
- Work closely with the Finance department to maintain manual data adjustments possibly due to equipment delayed shipments or holds.
- Ensure accuracy and integrity of data incorporated by month into all associate sales commission statements, which may involve adjustments.
- Prepare and manage Compensation Statements to field representatives, distributing statements prior to Payroll being paid for representative verification.
- Responsible for auditing statements to identify outliers and verify True Up, Adjustments, Proration, etc.
- Support verification of sales checks and ensure distribution of monthly Sales Recaps to the field sales team within a timely manner.
- Develop detailed Yearly Sales Commission Databases that incorporate financial budgets and compensation plans.
- Forecast and track monthly customer rebate commitments and future payments.
- Maintain calculations and validations for customer reporting to detail the rebates.
- Process payments or credits to customers based on contracted rebate.
- Work with the Contracts team at the presales stage to verify rebate specifications.
- Utilize revenue management system to track, calculate, and pay customer rebates based on contract period.
- Evaluate previous year’s processes and recommend improvements.
- Responsible for managing the Special Commission Offers, processes, and payments.
QUALIFICATIONS:
- Bachelor's Degree in Finance, Business or related field, or an equivalent combination of education and relevant experience.
- A minimum of 5 years of relevant experience in a professional level incentive compensation role and data analysis, preferably within a global organization.
- Medical Device or Healthcare industry experience is a plus.
- Strong analytical, research, and problem-solving skills with high attention to detail.
- Ability to troubleshoot and correct discrepancies in the commission process.
- Strong verbal and written communication skills with the ability to interact with different levels of management and field associates.
- Ability to effectively manage multiple priorities and ensure excellent attention to detail. Strong organizational skills and accuracy/integrity of data are a must.
- Experience with sales-related software applications (SAP, COGNOS, Xactly).
- Excellent quantitative and analytical skills.
- Strong presentation skills accompanied with exceptional interpersonal and communication skills (verbal and written).
- Progressive and advanced skills in Microsoft Excel, Outlook, PowerPoint, Word, and other database concepts.
About Arjo
At Arjo, we believe that empowering movement within healthcare environments is essential to quality care. Our products and solutions are designed to promote a safe and dignified experience through patient handling, medical beds, personal hygiene, disinfection, diagnostics, and the prevention of pressure injuries and venous thromboembolism. With over 6500 people worldwide and 65 years caring for patients and healthcare professionals, we are committed to driving healthier outcomes for people facing mobility challenges.
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