Associate Director

Position: Associate Director, Incentive Compensation
Location: Parsippany

Job Description:

As a privately-owned, biopharmaceutical company, Ferring pioneers and delivers life-changing therapies that help people build families and live better lives. Our independence helps us cultivate an entrepreneurial spirit and long-term perspective that enables us to achieve growth and scale, while remaining agile and true to our ‘people first’ philosophy. Built on a 70-year plus commitment to science and research, Ferring is relentless in its pursuit of science that drives powerful discoveries and therapies to help people build families, stay healthy, and stand up to the world’s oldest enemy: disease.

The Associate Director, Incentive Compensation (IC) owns the end-to-end US incentive compensation program for Ferring's field-based sales, account management and market access teams. The role leads plan design, goal setting, payout administration, annual awards contests, and the governance framework.

This is a high-visibility, largely independent role that directs external vendor and consultant resources to deliver.  The Associate Director partners closely with Sales Leadership, Finance, HR, Legal and Compliance. Plans must be fiscally responsible, motivational, equitable and simple enough for every field employee to understand.

With Ferring, you will be joining a recognized leader, identified as one of “The World’s Most Innovative Companies” by Fast Company, and honored by Fortune with inclusion on its “Change the World List,” for addressing society’s unmet needs. Ferring US is also Great Places to Work Certified, distinguishing it as one of the best companies to work for in the country.

ResponsibilitiesIC Operations and Payout Administration Oversee quarterly IC calculation, validation and reporting in partnership with the IC vendor, ensuring accuracy, timeliness and auditability.

Manage pre- and post-payout adjustments, appeals, data restatements and impact analyses under the approved adjustment policies.

Prepare and manage payroll submissions through the required approval chain

Manage the quarterly IC budget and forecast, and keep Finance informed of changes that affect accruals and budget utilization.

Interface with IT, data and analytics teams to ensure appropriate data procurement, integration, alignment and governance.

IC Strategy and Plan Design Lead IC plan design across all business units and roles for brands at every lifecycle stage from launch to mature.

Assess current plan effectiveness each quarter and year, identify required changes, and build proposals with simulated budget utilization, fairness and equity analyses, and compliance considerations.

Design and maintain MBO-based plans for account-facing roles

Own goal-setting strategy and methodology including goal models, refreshes and national-to-territory allocation.

Partner with HR on pay mix and target incentive benchmarking so IC targets remain market-competitive and internally consistent across career levels.

IC Governance and Policy Own and maintain the IC Governance and IC Processes SOP, IC policies, and the decision log, including the approval matrix (RACI) for plan design, contests, eligibility rules, adjustments and payouts.

Intake and evaluate IC change and exception requests from across the organization, assess them against policy, and route them to the correct approval tier.

Establish and enforce IC rules and timelines, including eligibility, leave of absence, new hire, guarantee, termination and territory-change treatment.

Ensure IC plans and programs comply with company policy, healthcare compliance requirements and applicable laws; flag decisions that require governance or compliance review.

Annual Awards, Contests and Recognition Design, track and administer annual award programs

Design and govern sales…