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Senior Director, Pricing Strategy
2 months ago
Who is USP?
The U.S. Pharmacopeial Convention (USP) is an independent scientific organization that collaborates with the world's top authorities in health and science to develop quality standards for medicines, dietary supplements, and food ingredients. USP's fundamental belief that Equity = Excellence manifests in our core value of Passion for Quality through our more than 1,300 hard-working professionals across twenty global locations to deliver the mission to strengthen the supply of safe, quality medicines and supplements worldwide.
At USP, we value inclusivity for all. We recognize the importance of building an organizational culture with meaningful opportunities for mentorship and professional growth. From the standards we create, the partnerships we build, and the conversations we foster, we affirm the value of Diversity, Equity, Inclusion, and Belonging in building a world where everyone can be confident of quality in health and healthcare. USP is proud to be an equal employment opportunity employer (EEOE) and affirmative action employer. We are committed to creating an inclusive environment in all aspects of our work—an environment where every employee feels fully empowered and valued irrespective of, but not limited to, race, ethnicity, physical and mental abilities, education, religion, gender identity, and expression, life experience, sexual orientation, country of origin, regional differences, work experience, and family status. We are committed to working with and providing reasonable accommodation to individuals with disabilities.
Brief Job Overview
The Senior Director, Pricing Strategy is an important leadership role within the Strategy, Pricing, and Analytics department - part of the Legal, Strategy, and People (LSP) division. As the leader of the pricing function, this person will lead an experienced team of pricing managers accountable for all aspects of pricing management for the organization – strategy, analysis, management, and execution. The individual works closely with members of the Executive Pricing Council to establish pricing strategy, policies, and governance in alignment with USP’s long-term sustainability and public health impact goals. They partner with Region and Program Operations (RPO), finance, and global leadership to execute and monitor USP’s prices and pricing programs. In addition, this person will support RPO and other USP teams achieve sustainability goals by identifying and driving revenue analysis projects, as well as preparing and facilitating QBRs (Quarterly Business Review) and PUT (Program Unit Teams) business reviews for periodic business reviews and tracking progress of key initiatives to achieve sustainability goals. This position reports to the VP, Strategy, Pricing, and Analytics.
How will YOU create impact here at USP?
In this role at USP, you contribute to USP's public health mission of increasing equitable access to high-quality, safe medicine and improving global health through public standards and related programs. In addition, as part of our commitment to our employees, Global, People, and Culture, in partnership with the Equity Office, regularly invests in the professional development of all people managers. This includes training in inclusive management styles and other competencies necessary to ensure engaged and productive work environments.
The Senior Director, Pricing Strategy has the following responsibilities:
- Builds and leads a world-class pricing strategy function.
- Manages an experienced team of pricing professionals accountable for the development and execution of B2B pricing strategies to support USP’s sustainability and impact goals.
- Establishes and oversees the pricing governance structure for the organization and drives pricing decisions through the Executive Pricing Council.
- Collaborates with PUTs to develop USP pricing strategy and leads reviews of pricing strategy effectiveness.
- Defines pricing value proposition in collaboration with RPO and is responsible for price effectiveness across all programs and regions.
- Works with Finance to develop revenue budgets and forecasts based on pricing action.
- Develops pricing programs in partnership with program unit teams and global leadership to ensure price goals are met and oversees price setting for all new products and services.
- Builds the necessary data, tools, and infrastructure to monitor competitive pricing and reports on overall pricing effectiveness while increasing the organization's pricing competencies.
- Ensures all pricing policies and processes are efficient and streamlined while in full compliance with USP’s pricing policies and governance controls.
- In collaboration with the Global Market Insights team, organizes and guides internal and external pricing research to support pricing decisions.
- Ensures prices, promotions, and programs are executed via USP’s transaction systems and distribution networks.
- Identifies, reviews, and manages revenue opportunities and threats both in existing and new product portfolios in PUTs and regions by tracking, monitoring, and reporting overall pricing activities.
- Drives cross-functional teams and regions with revenue analyses and modeling in preparation for Quarterly Business Reviews and periodic revenue reports and updates to Executive Team.
- Works closely with key stakeholders across PUTs and other business lines to identify and analyze key revenue challenges, process inefficiency, and business issues.
Who is USP Looking For?
The successful candidate will have a demonstrated understanding of our mission, commitment to excellence through inclusive and equitable behaviors and practices, ability to quickly build credibility with stakeholders, along with the following competencies and experience:
- Bachelor’s degree in relevant field and/or equivalent combinations of education and experience may be acceptable.
- Minimum of ten (10) years of experience in the field of pricing strategy development and execution.
- Minimum of 5 years of people management experience.
Additional Desired Preferences
- MBA or other relevant Master’s degree.
- Equivalent combinations of education and experience may be acceptable.
- Ten (12) or more years of experience in pricing, marketing, strategy, or product management, preferably in a business-to-business environment.
- Five (5) or more years leading teams, either via direct management or cross-functional teams.
- Three or more years B2B (business to business) pricing experience.
- Proven strategic thinking and business skills, including aptitude for product strategy, experience with lifetime value, economic modeling, and promotional pricing.
- Extensive quantitative skills, including first-hand know-how in building pricing models preferred.
Supervisory Responsibilities
Yes:
Benefits
USP provides the benefits to protect yourself and your family today and tomorrow. From company-paid time off and comprehensive healthcare options to retirement savings, you can have peace of mind that your personal and financial well-being is protected.
Note: USP does not accept unsolicited resumes from 3rd party recruitment agencies and is not responsible for fees from recruiters or other agencies except under specific written agreement with USP.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
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