Associate Manager - Accounts Receivable and Credit

Facility:  Finance
Location: 

Plainsboro, NJ, US

About the Department                                                                                                                                                 

At Novo Nordisk, our Strategy, Finance, and Operations team works to provide strategic direction to the company, ensuring that everything we do is viable and built to last. Overseeing and safeguarding Novo Nordisk’s short and long-term planning, the Strategy, Finance and Operations team works closely with the business across the organization to develop strategies and business plans, monitor industry trends, and provide operating recommendations. We regulate accounting, uphold workplace safety, manage our supply chain and sampling, support technology, provide commercial insights & analytics, maintain our facilities and assure the integrity and completeness of all business transactions. At Novo Nordisk, you will have the opportunity to build a life-changing career in a global business environment. We encourage our employees to make the most of their talent. And we reward hard work and dedication with the opportunity for continuous learning and personal development. Are you ready to realize your potential?


THE POSITION
Responsible for overseeing the NNI and NNPI Accounts Receivable portfolio by providing sound financial statement and related analysis to determine our customers credit worthiness. Oversees customer deduction management and corresponding reporting and provides insights and opportunities for improvement. In addition, this position will lead the daily execution and tracking of the A/R Factoring program, ensure the collection of customer invoices, provide project management skills for various department initiatives, and assist in the continuous development and on-going completion of the department’s KPI/Metrics.

RELATIONSHIPS
Reports to the Senior Manager of Financial Transactions. This position works closely with the Accounts receivable (A/R) department in our Shared Service Center in Bangalore, India. Leads regular interactions with Novo Nordisk customer service department, drug wholesalers, and other direct customers. Also collaborates with a variety of internal departments across the organization, including Accounting, Supply Chain, Contracting, Pricing, Master Data, Chargeback administration, Diabetes Trade Sales and Bio-Pharmaceuticals Sales departments.


Essential Functions:
ACCOUNTS RECEIVABLE

  • Evaluates credit worthiness of new and existing customers and establishes credit limits using a variety of tools including financial statement analysis, external credit reports, analysis of payment trends, and related information.

  • Investigates, analyzes, and resolves new and existing customer deductions, ensuring month-end deduction levels are at or below acceptable levels.

  • Makes daily credit decisions on orders referred to the credit department – releasing or holding depending on the customer payment status/credit restrictions and business needs.

  • Supports the reduction of bad debt losses by monitoring high risk accounts and recommending courses of action to be taken.

  • Oversees the collection of past due invoices.

  • Reviews and updates A/R collection and deduction resolution policies and procedures to ensure bad debts and Day Sales Outstanding are optimally controlled.

  • Manages SSC assigned tasks related to customer statements and invoice copies.

  • Oversees the daily operation of the AR Factoring program including submission, payment, and reconciliation processes.

  • Develop annual cash forecasts for HQ, updated monthly based on latest sales data.

  • Develops external relationships in the industry. Attends professional credit groups to increase knowledge of customers, industry trends and best practices. Provides management with related actions and recommendations accordingly.

PROJECT MANAGEMENT

  • Plays a leading role in driving digitalization and process improvement initiatives from development to implementation for Accounts Receivable and general department projects.

  • Ensures objectives, outcomes, metrics, and timeframes are in place for key projects and key outcomes are sustainable.

  • Collaborate with Finance & Operations team to coordinate projects that span across the different teams.

TRANSACTION SERVICES

  • Manages the development and on-going completion of reporting metrics/KPI’s for all areas under Transactions Services.

  • Champion of continuous improvement mindset in Finance.

 

Physical Requirements
Approximately 5% overnight travel.

Qualifications

  • A Bachelor’s degree in Finance, Business, or related field required.

  • A Masters of Business Administration (M.B.A.) preferred.

  • A minimum of 7 years relevant industry experience, pharmaceutical credit & collections and related analytics preferred. Relevant experience can be substituted as deemed appropriate.

  • Ability to collaborate with customers for prioritization and impact.

  • Ability to prioritize for highest business impact.

  • Must be able to work independently in pursuing project work and developing recommendations.

  • Analytical and technical proficiency at analyzing data sets to derive insights.

  • Attention to details and high focus on quality.

  • Outstanding team- and client-facing communication skills.

  • Must be able to think strategically.

  • Quantitative analysis skills.

  • Advanced Excel/Power Point skills required.

  • Ability to effectively plan, prioritize, execute and follow-up in a timely manner and anticipate problems and roadblock. 

  • A working knowledge of SARBOX is desirable.

 

We commit to an inclusive recruitment process and equality of opportunity for all our job applicants.

 

At Novo Nordisk we recognize that it is no longer good enough to aspire to be the best company in the world. We need to aspire to be the best company for the world and we know that this is only possible with talented employees with diverse perspectives, backgrounds and cultures. We are therefore committed to creating an inclusive culture that celebrates the diversity of our employees, the patients we serve and communities we operate in. Together, we’re life changing.

 

Novo Nordisk is an equal opportunity employer. Qualified applicants will receive consideration for employment without regard to race, ethnicity, color, religion, sex, gender identity, sexual orientation, national origin, disability, protected veteran status or any other characteristic protected by local, state or federal laws, rules or regulations.

 

Novo Nordisk requires all new hires to be fully vaccinated against COVID-19 prior to the first date of employment. As required by applicable law, Novo Nordisk will consider requests for reasonable accommodation.

 

If you are interested in applying to Novo Nordisk and need special assistance or an accommodation to apply, please call us at 1-855-411-5290. This contact is for accommodation requests only and cannot be used to inquire about the status of applications.