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Business Director, Commercial Research & Development

AT City of Hope
City of Hope

Business Director, Commercial Research & Development

Duarte, CA

About City of Hope

City of Hope is an independent biomedical research and treatment organization for cancer, diabetes and other life-threatening diseases.

Founded in 1913, City of Hope is a leader in bone marrow transplantation and immunotherapy such as CAR T cell therapy. City of Hope's translational research and personalized treatment protocols advance care throughout the world. Human synthetic insulin, monoclonal antibodies and numerous breakthrough cancer drugs are based on technology developed at the institution. AccessHope™, a subsidiary launched in 2019 serves employers and their health care partners by providing access to City of Hope's specialized cancer expertise.

A National Cancer Institute-designated comprehensive cancer center and a founding member of the National Comprehensive Cancer Network, City of Hope is ranked among the nation's "Best Hospitals" in cancer by U.S. News & World Report and received Magnet Recognition from the American Nurses Credentialing Center. Its main campus is located near Los Angeles, with additional locations throughout Southern California and in Arizona.

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City of Hope's commitment to Diversity, Equity and Inclusion

We believe diversity, equity and inclusion is key in serving our mission to provide compassionate patient care, drive innovative discovery, and advance vital education focused on eliminating cancer and diabetes in all of our communities. Our commitment to Diversity, Equity and Inclusion ensures we bring the full range of skills, perspectives, cultural backgrounds and experiences to our work -- and that our teams align with the people we serve in order to build trust and understanding. We are dedicated to fostering a community that embraces diversity - in ideas, backgrounds and perspectives; this is reflected in our work and represented in our people.

Position Summary

The Commercial Research & Development (R&D) Business Director (BD) will be responsible for developing meaningful financial and operational metrics that will support decision-making by senior management and the Executive Leadership Team. She/he will effectively implement strategic financial planning, data analysis and trends, and forecasting models to provide recommendations that will support or enhance the financial performance of new initiatives or organization's transitions sponsored by the Commercial R&D Department. The Commercial R&D BD will provide recurring financial modeling for short and long-range strategic planning with respect to technologies developed by faculty members, department chairs and/or institute leaders. They are expected to provide financial leadership including planning, development, and monitoring of annual budgets; planning, development, and monitoring of expenditures; service line analytics as applicable; general accounting activities and financial statement; and contracting analysis for third party payers. They will plan and execute changes to daily processes to help maintain financial goals while achieving strategic initiatives within the R&D Hybrid/Commercial R&D Department.

Key Responsibilities include:

Commercial Research& Development & Financial Management
  • Directs and completes strategic and financial analyses, delivers business models to achieve business objectives.
  • Ensures that senior management and Executive Leadership have the necessary financial data to make the appropriate decisions.
  • Generates financial reports and analyses for all budgets and expenses for reporting to higher leadership.
  • Leads financial review and analysis in partnership with City of Hope Strategy, Finance, Accounting, Legal, Facility and other internal key stakeholders and external advisors.
  • Manages the development of complex, strategic data analysis through integration of data from a variety of internal and external information sources.
  • Responsible for financial risk mitigation and monitor the financial condition of projects and initiatives under the sponsorship of the R&D and Commercialization Department
  • In partnership with the Chief Commercial Officer supports the development and execution of R&D and Commercialization business plans.
  • Develops recommendations and provides interpretation of financial information based on analysis of planning data and Market intelligence.
  • Directs the development and execution of ad-hoc reporting and analysis, and coordinates closely with Accounting to ensure accurate and timely financial reporting.
  • Oversees management of extramural and internal funds in the IDDV's portfolio.
  • Oversee the resolution of budget variances.
  • Collaborate with the Chief Commercial R&D Officer to provide the PIs financial guidance and strategy for the short and long tern goals for their technologies.
  • Identifies potential sources of financial support, including at the State and federal level that can be requested for R&D and Commercialization Department's sponsored initiatives.
  • Analyze and report business opportunities and sources of revenues to support strategy development.
  • Interacts with internal and external stakeholders, including biotech, pharma, VC on financial matters and provides well organized, effective reports that enable decision making by internal executives and external partners.

Budgeting/Financial Reporting
  • Provides comprehensive analysis and modeling of plan design, costs, and productivity analyses.
  • Oversees the development and execution of annual budgeting and periodic forecasting in support of senior management developed business plan for the R&D Hybrid, IDDV program and other initiatives.
  • Review and approve financial reports and analyses for all budgets and expenses for reporting to higher leadership.
  • Collaborates with City of Hope Finance, Accounting and other key stakeholders in budget process planning and assumptions development.
  • Manages and oversees the development of financial and operational business review packages based on gap analyses and required resources.
  • Prepare and communicate well-organized, effective reports and presentations.
  • Prepares business plans, budgets, and financial forecasts for SBIR and STTR and any other business grants that could be submitted to support Commercial R&D programs and operations.
  • Prepares short and long-term forecasts of financial and clinical performance and reviews prospects for future growth of income and opportunities of cost reduction.
  • Monitors and oversees financial condition and compliance of the R&D and Commercialization Department and its operations.
  • Partners with Legal, Finance, and Accounting on compliance and budget matters.
  • Monitors and oversees the budget of industry-sponsored and/or investigator-initiated, projects part of the IDDV portfolio and assures compliance, as needed and agreed upon between City of Hope and the industry sponsor of the IDDV drug development project.
  • Prepares summary information on IDDV program progress and portfolio in relation to financial investment and 1 to 3-year forecast with periodic risk assessment.

Management and Leadership
  • Provides guidance and direction on department financial business activities.
  • Provides guidance and direction on financial burden for space, building, other facilities-related activities and resources within the scope of the Commercial R&D department.
  • Participate in regular meetings with staff to review workload productivity, current events, problems and potential areas of concern.
  • Assists the Executive Leadership Team with internal and external presentations as needed.
  • Cultivate ongoing relationships with Office of Sponsored Research and other collaborators, developing and improving relevant business processes, fostering a strong team atmosphere.
  • Ensure that any financial related activities are within compliance.
  • Establishes and maintains close working relationship with central departments, setting the tone for ongoing collaboration.
  • Guides managers and faculty on the data and interpretation of financial business plans, providing guidance and advice where applicable.
  • Evaluates and solicits training needs.
  • Serves as liaison with area supervisors.

Special Projects
  • Participates in short- and long-range planning and policy or program development within the R&D and Commercialization Department
  • Works across verticals on process and system improvements
  • Analyzes business efficiencies to create improvement plans within the R&D and Commercialization Department.
  • Represents financial business operations and planning on organization-wide committees as assigned by R&D and Commercialization senior leadership.
  • Participates in strategic financial planning initiatives and assists in communication and implementation as requested by the Chief R&D and Commercialization Officer.
Basic education, experience and skills required for consideration:
  • Bachelor's degree in business, finance, business administration, research administration, science, or related field
  • 6 years of business management experience in an academic research or healthcare environment, including 4 years of progressively responsible management experience. Demonstrated experience in supervision of mid-level career staff, budget development, financial models & analytics

Preferred education experience and skills:
  • Master's degree in accounting, finance, business administration, healthcare administration, public health, or research administration.
  • 8+ years of business management experience in pharma/biotech or healthcare environment is preferred

Additional Information:
  • As a condition of employment, City of Hope requires staff to comply with all state and federal vaccination mandates.

City of Hope is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, or status as a qualified individual with disability.

  • Posting Date: Dec 15, 2021
  • Job Field: Business Services
  • Employee Status: Regular
  • Shift: Day Job

Job ID: CityOfHope-10013532
Employment Type: Other