Job Description:
At Enovis™ we pay attention to the details. We embrace collaboration with our partners and patients and take pride in the pursuit of scientific excellence - with the goal of transforming medical technology as we know it.
Because that's how we change the lives of patients for the better. And that's how we create better together. Why work at Enovis? See for yourself.
As a key member of the Royalties & Commissions Team you will play an integral part in helping Enovis drive the medical technology industry forward through transforming patient care and creating better patient outcomes.
Job Title:
Sr. Analyst Royalties & Commissions
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Reports To:
Sr. Manager Royalties & Commissions
Location:
United States - Remote
Business Unit Description:
Accounting
Job Title/High-Level Position Summary:
We are seeking a Senior Analyst Royalties & Commissions to join our team. This high-visibility position provides direct interaction with senior executives and collaboration with Compliance, Professional Affairs, Legal, and Finance. The ideal candidate has a strong analytical mindset, along with a focus on business process excellence while owning a portfolio of royalty contracts across the P&R and Reconstruction divisions between Enovis and Health Care Professionals (HCPs) as well as Key Opinion Leaders (KOLs). You will be a key liaison for all Royalties related matters, reviewing and administering the financial and reporting obligations of our contracts, licenses, and other related documents, executing complete and accurate payments timely. The candidate should have the ability to analyze complex contractual arrangements and have the confidence to work across teams, understand and communicate these complex financial concepts to management, provide business insights and drive change. You will participate in the month end close process, support audit, and ad hoc requests from both internal and external sources. Successful candidates are initiative-takers, tech savvy, can adapt to change and shift priorities quickly while maintaining organization and accuracy.
Key Responsibilities:
Financial Reporting and Payments
- Responsible for the monthly accrual and payment process for business unit(s) assigned.
- Ensure accuracy of source data, troubleshoot and resolve calculation and/or data errors.
- Read and understand contracts and comp plans to ensure compliance with contractual and regulatory requirements.
- Accurate and timely payments and statements.
- Partner with Finance to assist with budgeting and forecast reporting, with a focus on royalty operations.
- Own and maintain master data records in company's incentive compensation system.
Business partnership
- Provide prompt, accurate and thorough feedback to stakeholders.
- Respond to compensation-related inquiries in an effective and timely manner.
- Partner with cross-functional teams to ensure that the team has the appropriate processes and procedures in place for timely payment and reporting required under executed royalty and commissions contracts.
- Assist with financial budgeting and forecast reporting, with a focus on royalty operations.
- Consult effectively with internal IT resources to successfully execute related tickets and projects.
- Participate in royalty and commissions contract review and analysis from a financial and business operations perspective as well as day to day contract management.
- Collaborate with Audit team to ensure processes comply with Sarbanes-Oxley requirements.
- Execute controls for owned processes and provide support on audit queries, controls testing, and other ad hoc projects as needed.
Data Insight and Analysis
- Audit data to ensure contract terms are properly executing in our systems, payments, and reporting.
- Leverage ERP and Power tools to review and validate royalties and commission-related data.
- Research and resolve any disputes and process any payout adjustment requests as needed.
- Designing calculation models for royalties and commissions plans.
- Provide ad-hoc reporting and data as well as analytical support for management.
Continuous Improvement
- Proactively help to develop and drive best practices across our royalty process to achieve efficiency and scalability.
- Assist in process design improvements focused on enhancing quality while reducing resource requirements.
- Create and maintain process documents and SOP's.
- Analyze error root causes and implement solutions to improve accuracy.
- Actively participate in User Acceptance Testing activities associated with new or modified system implementations to ensure that systems are configured accurately for existing, new, and amended contracts.
- Adapt to new tasks and responsibilities as the business grows and changes.
Minimum Basic Qualifications:
- Bachelor's degree or equivalent experience in Accounting, Finance, Business Administration, or related field.
- 3+ years of experience in royalties, sales commission processing, compensation administration, or related field.
- 2+ years of experience reading complex contracts, interpreting the legal language, and operationalizing the calculation.
- Capable of presenting complex financial issues to non-finance executives across business units/functions at all levels
- Significant exposure to royalty and commissions contracts, audits or accounting is essential.
- Takes ownership of all aspects of role and seeks to uplevel processes over time and is deeply involved in their day to day.
- Strong technical skills.
- Familiarity with ERPs such as Oracle and NetSuite
- Expert knowledge of MS-Office Suite, especially Excel.
- Exceptional reading comprehension, verbal, and written communication skills are critical.
- Knowledge of US Generally Accepted Accounting Principles (GAAP) as well as internal control/SOX requirements
- Adaptable, open to change and able respond to latest information and unexpected circumstances required.
Travel Requirements:
- 10%
Desired Characteristics:
- Strong people skills with the ability to drive simplicity within a matrix environment.
- Continuous learning mindset, with a passion for staying updated with industry trends and best practices.
- Takes ownership of all aspects of role and seeks to uplevel processes over time and is deeply involved in their day to day
- Strong forward and process thinking skills and good understanding of system functionalities
- Successful record of remote work, capable of being available and responsive during regular business hours.
- Initiative-taking, with a keen sense of urgency, mindfulness, and follow though.
- Technical Proficiency in Alteryx, Power BI, Snowflake, Oracle, and/or other similar systems preferred.
- Familiarity with Medispend, MedCompli, Salesforce or similar systems is a plus.
- Knowledge of SQL a plus
"Creating better together." It's the Enovis purpose, and it's what drives us and empowers us every day on a global scale. We know that the power to create better - for our customers, our team members, and our shareholders - begins with having the best team, pursuing common goals, operating at the highest levels, and delivering extraordinary outcomes.
What does creating better together mean to us at Enovis? Discover the "why" behind our purpose, values, and behaviors:
Our Enovis Purpose, Values and Behaviors on Vimeo
We offer a comprehensive benefits package that includes:
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Spending and Savings Accounts
- 401(k) Plan
- Vacation, Sick Leave, and Holidays
- Income Protection Plans
- Discounted Insurance Rates
- Legal Services
ABOUT ENOVIS
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent, and innovation, the company's extensive range of products, services, and integrated technologies fuels active lifestyles in orthopedics and beyond. Visit www.enovis.com to learn more.
EQUAL EMPLOYMENT OPPORTUNITY
Enovis provides equal employment opportunities based on merit, experience, and other work-related criteria without regard to race, color, ethnicity, religion, national origin, sex, age, pregnancy, disability, veteran status, or any other status protected by applicable law. We also strive to provide reasonable accommodation to employees' beliefs and practices that do not conflict with Enovis policies and applicable law. We value the unique contributions that every employee brings to their role with Enovis.
Join us in creating better together.
ABOUT ENOVIS™
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company's extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. For more information about Enovis, please visit www.enovis.com.
EOE AA M/F/VET/Disability Statement
All qualified applicants will receive consideration for employment and will not be discriminated against on the basis of race, religion, color, national origin, sex, protected veteran status, disability, or any other basis protected by federal, state or local laws.