Novartis Hiring for Associate Director, BD&L Finance / BPA – Biomedical Research job in Cambridge Full Time

Job Description
5,400. The number of people dedicated to discovery!

Biomedical Research is the growth engine of Novartis. We collaborate across scientific and organizational boundaries, with a focus on powerful new technologies that have the potential to help produce therapeutic breakthroughs for patients.

The Associate Director Business Development & Licensing (BD&L) Finance, Business Planning & Analysis (BPA), is a key business partner focused on the Biomedical Research deals forecasting and reporting activities, oversight of the Novartis Biomedical Research equity portfolio, integration support, and will also be responsible for a Disease Area Financial management. They work closely with various stakeholders to ensure financial compliance, timely and accurate reporting, understanding of the financial implications and trade-offs of actions, that decision making is supported through high-quality analysis and that budget risks and opportunities are properly managed. This role plays a critical role in leading efficiencies.

Your responsibilities include, but are not limited to:

BD&L Finance Planning, Forecasting and Analysis:
• Responsible for forecasting of all BD&L active agreements with core and non-core P&L impact, cash impact and outlook of future milestones obligations
• Support timely and accurate submission of BD&L Budget, LFs and monthly outlooks with a focus on forecast quality and accurate expense phasing for active agreements. BPA will be responsible for understanding monthly variances to forecast and explaining to BPA stakeholders on monthly closing calls
• Prepare annual BD&L finance budget and LF presentations and present to key BPA stakeholders, including Novartis Biomedical Research CFO
• Perform and document relevant accruals for BD&L deals and agreements in compliance with FRA policies
• Support contingent considerations tracking and impairment testing
• Lead & ensure proper and timely tracking and financial reporting of private and public equity and venture capital funds. Equity activities include monthly public equity reporting, quarterly private equity review process and annual Kresta review process
• Manage key stakeholder relationship with Novartis Biomedical Research Alliance Management. Responsibilities include tracking key upcoming decisions and amendments relating to existing BD&L portfolio, forecasting of future milestone obligations and Out-licensing milestone income and ensuring timely vendor payment
• Conduct quarterly BS27 milestone reporting coordination, review, and preparation in collaboration with Alliance Management and all relevant stakeholders
• Maintain standard research expense model to support deal search and evaluation
• Support modeling for due diligence and integration

Disease Area Finance Planning, Forecasting and Analysis:
• Responsible for FP&A activities of a Biomedical Research Disease Area including budget, LF, spot-landing, monthly accruals, resource allocation, capital investment, management presentation, controls and financial compliance
• Partner effectively with DA Head, Head of Operations, DA leadership team, Project Management and scientific lead
• Provide timely, accurate and meaningful financial management, translate into actionable information for management supporting decision-making
• Propose, lead and/or support Biomedical Research BPA projects and initiatives and streamline processes
• Liaise with other functions such as Financial Reporting and Analysis (FRA), Requisition to Pay (RTP), and Strategic Sourcing groups to increase overall finance value contribution

Business Partnering:
• Partner effectively with Alliance Management, BD&L, M&A, Biomedical Research Finance, FRA, DA teams and all relevant stakeholders and ensure regular and open communication
• Ensure business partners understand the financial processes and follow internal guidelines/SOPs
• Communicate openly and efficiently within the matrix organization
• Follow up and ensure issues are addressed
• Proactively manage risks/opportunities and initiate corrective measures as vital to deliver financial targets
• Be a critical business partner and challenge assumptions made, evaluate risks/opportunities, proactively make recommendations for mitigation

This position will be based at the Cambridge, MA office and will not have the ability to be located remotely.

The pay range for this position at commencement of employment is expected to be between $118,400.00 and $177,600.00 per year; however, while salary ranges are effective from 1/1/23 through 12/31/23, fluctuations in the job market may necessitate adjustments to pay ranges during this period. Further, final pay determinations will depend on various factors, including, but not limited to geographical location, experience level, knowledge, skills and abilities. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, and discretionary awards in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment. If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

Minimum requirements
What you’ll bring to the role:
Education:
• Bachelor’s Degree in Business, Finance, Economics, Accounting or related subject area is required
• MBA or Master’s degree is a plus

Experience:
• 7+ years of direct Finance business experience is required, preferably from a pharma, biotech, or healthcare firm
• Demonstrated experience in the following:
– Forecasting accuracy and risks and opportunities management
– Business Partner satisfaction and sound business insght
– Successful implementation of initiatives and process improvements
– Quality of reporting
• Experience in BD&L transactions with understanding of accounting principles strongly preferred
• Analytical and data driven attitude; confirmed ability to “see beyond the numbers” and provide analytical insights
• Experience and ability to synthesize information and present it in a clear and structured way
• Experience in multiple countries; cross-cultural experience is an asset

Skills/Competencies:
• Adept in and experience in collaborating with leadership and cross-functional teams, gaining commitment and influencing for results
• Inspired and curious – able to challenge the status quo as needed
• Able to guide and oversee others for projects; effective indirect management; displayed experience in interacting with senior leaders to drive key projects
• Instills trust, authentic, and builds and maintains relationships at all levels
• International experience is strongly desirable

Why Novartis?
236 million lives were touched by Novartis medicines in 2022, and while we’re proud of this, we know there is so much more we could do to help improve and extend people’s lives.

We believe new insights, perspectives and ground-breaking solutions can be found at the intersection of medical science and digital innovation. That a diverse, equitable and inclusive environment inspires new ways of working.

We believe our potential can thrive and grow in an unbossed culture underpinned by integrity, curiosity and flexibility. And we can reinvent what’s possible, when we collaborate with courage to aggressively and ambitiously tackle the world’s toughest medical challenges. Because the greatest risk in life, is the risk of never trying!

Imagine what you could achieve here at Novartis!

Commitment to Diversity & Inclusion: Novartis is committed to building an outstanding, inclusive work environment and diverse teams representative of the patients and communities we serve.

Accessibility and reasonable accommodation
The Novartis Group of Companies are committed to working with and providing reasonable accommodation to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the application process, or in order to perform the essential functions of a position, please send an e-mail to [email protected] call +1 (877) 395-2339 and let us know that nature of your request and your contact information. Please include the job requisition number in your message.

Join our Novartis Network: If this role is not suitable to your experience or career goals but you wish to stay connected to hear more about Novartis and our career opportunities, join the Novartis Network here: https://talentnetwork.novartis.com/network