Job Purpose
The Financial Business Partner (FBP) will serve as a strategic advisor to the KSA Country Sales Head and the Commercial team, with a primary focus on driving product profitability and tracking financial performance. The role requires expertise in profitability analysis, budgeting, forecasting, and financial planning to support decision-making and ensure the business achieves its financial goals. The FBP will play a critical role in managing the product lifecycle profitability, identifying revenue growth opportunities, and tracking profit margins for key pharmaceutical products. The ideal candidate will provide financial insights that help optimize pricing strategies, sales efforts, and cost efficiency across the portfolio.
Key Accountabilities
Financial Reporting & Profitability Analysis:
- Conduct regular profitability analysis for the KSA pharmaceutical / Consumer health portfolio, identifying key drivers for revenue growth, cost optimization, and margin improvement.
- Prepare monthly, quarterly, and annual financial reports, providing actionable insights to both the KSA sales and finance teams.
- Monitor KPIs related to sales performance, gross margins, and cost structures, providing in-depth analysis of deviations and their causes.
- Sales Team Analysis: Evaluate individual and team performance by analyzing sales targets, actual sales, and contribution to overall revenue. Identify top performers and areas needing improvement, while assessing the effectiveness of sales strategies and incentives.
- Customer Profitability Analysis: Analyze customer segments to determine their contribution to overall profitability. This includes evaluating profit margins per customer or segment. Identify high-value customers, as well as those with lower profitability, to guide strategic decisions on resource allocation and customer engagement strategies.
- Sales Productivity Analysis: Measure each medical representative's achievement against sales targets, focusing on revenue generated, number of prescriptions generated, and product coverage.
- Full-Time Equivalent (FTE) Analysis: Accurately evaluate the FTE costs provided by the Sales GM and allocate these costs to products on a monthly basis to ensure accurate profitability calculations.
- Direct Product Expense (DPE) Analysis: Analyze and allocate all direct promotional expenses to individual products. This ensures accurate cost attribution for profitability analysis. Monitor DPE trends to detect any cost increases and implement strategies for controlling or reducing direct promotional expenses.
- Ensure the business activities are conducted as per the SOPs and comply the local regulations.
Budgeting & Forecasting
- Lead the annual budgeting process in close coordination with the KSA commercial and finance teams.
- Develop detailed forecasts for sales, costs, and profitability, with periodic revisions based on product lifecycle stages, market trends, and business needs.
- Track and analyze budget vs. actual performance regularly, identifying variances and recommending corrective actions to the commercial team.
- Partner with commercial teams to ensure that strategic financial planning reflects market dynamics, and help evaluate new product launches, pricing decisions, and promotional efforts.
Product Lifecycle & Turnaround Strategies
- Support product lifecycle management (PLM) by collaborating with the commercial team on financial aspects of product development, launches, and retirements.
- Provide financial analysis for underperforming products, recommending turnaround strategies focused on improving profitability and market share.
- Develop business cases for product launches and market entries, including pricing models, cost analyses, and return on investment (ROI) assessments.
Strategic Business Advisory
- Serve as a strategic partner to the KSA Head of Sales, providing financial advice on key business decisions such as pricing strategies, sales contracts, and promotional investments.
- Collaborate with cross-functional teams (e.g., supply chain, marketing) to ensure optimal resource allocation and profitability across the product portfolio.
- Monitor and evaluate market dynamics, competitor performance, and regulatory changes to proactively identify risks and opportunities that impact the financial performance.
Cost Control & Operational Efficiency
- Drive cost optimization initiatives across the KSA commercial operations, ensuring cost discipline while maintaining revenue growth.
- Evaluate costs associated with promotional activities, sales operations, and distribution channels to identify efficiency opportunities.
- Regularly review operational expenditures, ensuring adherence to budgetary controls and making recommendations for cost-saving measures where necessary.
Financial Tools & Systems
- Utilize advanced tools like PowerBI, SAP, and Excel for financial analysis, reporting, and data visualization.
- Implement and utilize financial dashboards to monitor performance in real-time and support decision-making processes for both finance and commercial teams.
Experience & Skills
- 5-7 years of experience in a financial business partnering role within the pharmaceutical industry.
- Expertise in profitability analysis, budgeting, forecasting, and financial modeling.
- Proven experience in managing the financial aspects of product lifecycle management (PLM) and implementing successful turnaround strategies.
- Business acumen and the ability to translate financial insights into strategic business recommendations.
- Strong communication and interpersonal skills, capable of influencing senior management and collaborating with cross-functional teams.
- Proficiency in financial tools and systems( PowerBI, Excel, SAP, and other relevant data visualization/reporting tools).
Qualifications
- Bachelor's degree in finance, Accounting, or a related field.
- Professional qualification such as SOCPA, ACA, ACCA, CIMA, CPA, or equivalent.
