Senior Manager, Commissions

Why Orthofix?
    

Guided by our organizational values – Take Ownership | Innovate Boldly | Win Together – we collaborate closely with world-class surgeons and other partners to improve people’s quality of life. At Orthofix, we want team members who build relationships and share knowledge, challenge the status quo, and deliver results every day to help us achieve our vision to be the unrivaled partner in Med Tech.  

Our global team of over 1,600 employees brings to market highly innovative, cost-effective, and user-friendly medical technologies that heal musculoskeletal pathologies for patients and the healthcare professionals who treat them. Looking to change people’s lives? Look no further.

The Sr. Manager, Commissions Accounting is responsible for providing strategic direction and driving the administration and implementation of effective Incentive Compensation plans and policies while leading a team of Incentive Compensation professionals. This role is also expected partner with senior Business Unit and Sales leadership, Finance, and Human Resources in the effective design of the Company’s incentive compensation programs for sales representatives, sales management, and distribution partners in order to attract and retain sales talent.

This leader will have a role in the selection, administration and maintenance of incentive compensation management systems and will oversee the selection, development, and evaluation of personnel to ensure the efficient operation of the function. The leader must be able to work within a cross-functional team environment and at all levels within the organization to lead, influence and deliver results.

What will your duties and responsibilities be?

The following are the essential functions of this position. This position may be responsible for performing additional duties and tasks as needed and assigned.

• Oversee the timely and accurate processing of commission calculations based on net sales attainment vs. applicable quotas for external distributors, internal sales reps, and sales management
• Effectively manage the Commissions team to ensure that commission payments are timely and accurately provided to Accounts Payable and Payroll for processing and reporting
• Interpret sales representative agreements, and other equivalent contracts, and ensure that contracts are timely and accurately entered into the commission system (Xactly) by the Commission team
• Oversee the maintenance of accurate data within the commissions system (Xactly) in order to support accurate and timely payment and reporting of commissions based upon reported net sales results, current contracts, rate tables, assigned sales territories, etc.
• Serve as the go-to authority on commission plans, commissions system capabilities and reporting, and best practices
• Manage exception payments, conduct audits, and deliver insights through data analysis to drive continuous process improvement
• Spearhead automation and process improvements in calculation methods, plan structures, and payout processes so that our commissions processes can scale with the growth of our global business
• Operate independently to resolve complex sales commission and bonus issues or questions, and confidently communicate results to impacted parties (distributors, internal sales managers) in a professional manner
• Conduct recurring and ad-hoc sales and commissions reporting and analytics to sales and executive management
• Assist in the administration and implementation of sales quotas
• Properly maintain compliance with applicable internal controls over financial reporting
• Coordinate with internal and external auditors in relation to SOX compliance assessment activities and financial statement audit procedures
• Involvement in the monthly accounting closing process through the review and approval of journal entries related to the commissions process and to understand business financial results
• Review of monthly account reconciliations for commission-related accounts
• Work in concert with business management and finance to develop commission forecasts and budgets

What skills and experience will you need?

The requirements listed below are representative of the education, knowledge, skill and/or ability required for this position.

Education/Certifications:

• Bachelor’s or MBA degree in a business, finance, analytics, accounting, or a related field.

Experience, Skills, Knowledge and/or Abilities:

• Minimum of 6 years of professional sales compensation experience, whether within Sales Operations, Finance, Accounting or other analytical corporate functions
• At least 5 years of professional experience extracting and manipulating data from CRM, ERP and business intelligence platforms, and creating reports and analysis
• Strong understanding of sales compensation design and administration on a large scale and experience in sales compensation applications, such as Xactly
• Experience in analytics or business intelligence platforms, such as PowerBI
• Experience in managing/supervising accounting and/or sales compensation professionals
• Excellent customer service and communication skills, both in oral and written communications, with all levels of peers, company leadership, distribution partners, and sales representatives
• Detail oriented, accurate and able to work effectively under pressure to meet strict deadlines
• Strong proficiency with Microsoft Office. Advanced Excel skills required

PREFERRED QUALIFICATIONS

The education, knowledge, skills and/or abilities listed below are preferred qualifications in addition to the minimum qualifications stated above.

Education/Certifications:

• CPA and/or MBA a plus

Additional Experience, Skills, Knowledge and/or Abilities:

• Oracle experience
• Experience in the medical device or life sciences industries
• Advanced experience in analytics or Business Intelligence applications

PHYSICAL REQUIREMENTS / ADVERSE WORKING CONDITIONS

The physical requirements listed in this section include but are not limited to the motor/physical abilities, skills, and/or demands required of the position in order to successfully undertake the essential duties and responsibilities of this position.  In accordance with the Americans with Disabilities Act (ADA), reasonable accommodations may be made to allow qualified individuals with a disability to perform the essential functions and responsibilities of the position.

• No additional physical requirements or essential functions for this position.

DISCLAIMER

The duties listed above are intended only as representation of the essential functions of this position.  The omission of specific statements of duties does not exclude them from the position if the work is similar, related, or a logical assignment to the position.  The job description does not constitute an employment agreement between the employer and employee and is subject to change at the sole discretion of the employer.  Nothing in this document alters an employee’s at-will employment status.

DISCLAIMER

The duties listed above are intended only as representation of the essential functions of this position.  The omission of specific statements of duties does not exclude them from the position if the work is similar, related, or a logical assignment to the position.  The job description does not constitute an employment agreement between the employer and employee and is subject to change at the sole discretion of the employer.  Nothing in this document alters an employee’s at-will employment status.

We are committed to providing equal employment opportunities to all employees and applicants without regard to race (including traits historically associated with race, such as hair texture and protective hairstyles, including braids, locks, and twists), ethnicity, religion, religious creed (including religious dress and grooming practices), color, caste, sex (including childbirth, breast feeding, and related medical conditions), gender, gender identity or expression, sexual orientation, national origin, ancestry, citizenship status, uniform service member and veteran status, marital status, pregnancy, age (40 and over), protected medical condition (including cancer and genetic conditions), genetic information, disability (mental and physical), reproductive health decision-making, medical leave or other types of protected leave (requesting or approved for leave under the Family and Medical Leave Act or the California Family Rights Act), domestic violence victim status, political affiliation, or any other protected status in accordance with all applicable federal, state, and local laws.

This policy extends to all aspects of our employment practices including, but not limited to, recruiting, hiring, discipline, termination, promotions, transfers, compensation, benefits, training, leaves of absence, and other terms and conditions of employment.