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Sr. Contract Analyst

Date:  Feb 26, 2023
Req ID:  615

Somerset, NJ, US

Company:  Terumo Medical Corporation
Department:  TIS Sales - Admin

Terumo Medical Corporation (TMC) develops, manufactures, and markets a complete, solutions-based portfolio of high-quality medical devices used in a broad range of applications for numerous areas of the healthcare industry. TMC places a premium on providing customers with world-class products, training and education programs that drive clear economic value, better clinical outcomes and improved quality of life for patients. TMC is part of Tokyo-based Terumo Corporation; one of the world’s leading medical device manufacturers with $5+ billion in sales, 20,000+ employees worldwide and operations in more than 160 nations. Terumo Medical Corporation is comprised of two strategic business divisions: Terumo Interventional Systems and Terumo Medical Products.

Job Summary

Senior Contract Analyst is responsible for providing high quality contracts and pricing analytics, financial models, and driving operational excellence in the TIS Sales Organization.  Works closely with the Field Sales Organization, GPO and IDN Corporate Account management as well as cross-functional departments, such as Marketing and Finance.  Within the department, will have lead responsibilities to mentor junior team members.

Job Details/Responsibilities

1.    Serve as a partner to assigned sales regions by retrieving and evaluating data, forecasting and assisting in data-driven decisions
2.    Assist in long-term contract/pricing planning, including an initiative geared toward operational excellence. 
3.    Assist in the coordination with sales and marketing to develop promotional pricing strategies and product initiatives to enhance contract utilization and compliance.
4.    Update all data systems with new product information when new products are introduced, including CAPS, JDE, Price Lists, etc.
5.    Works with IT to upload intercompany pricing for all TIS products at the beginning of each fiscal year and throughout the year.
6.    Track contractually required administrative and incentive fee payments. Issue accurate and timely forecasts.
a.    Calculate and process GPO Admin Fee Reporting and customer incentive fees 
b.    Prepare assigned IDN Rebate Review and Reporting
c.    Calculate GPO/IDN Fee Monthly Accruals
d.    Audits of Admin and Incentive Fees
e.    Prepare monthly, quarterly, and annual sales reports for assigned GPO and IDN contracts
7.    Responsible for completing and coordinating RFI’s, RFP’s, and contract submissions for the assigned regions.
8.    Execute and monitor negotiated contracts from implementation and to expiration to ensure that appropriate pricing is applied to sales orders
9.    Analyze compliance and determine appropriate rebate and pricing strategies and recommendations
10.    Run and analyze ad-hoc reports to support pricing and contract initiatives.
11.    Assist in the investigation and resolution of complicated pricing discrepancies and issues and determine the root cause for resolution purposes.

Job Responsibilities (continued)

12.    Analyze contracts to identify business issues and to determine if customer is meeting current commitments. Provide supporting documentation to legal team for legal review.
13.    Analyze compliance with TIS pricing policy and GPO, IDN, and Individual Account contract terms and conditions.
14.    Analyze customer sales to determine what TIS compatible products that the customer is not purchasing in order to sell additional compatible products to the customer.
15.    Understand key financial indicator’s impact of TIS, competition, and the marketplace. Utilize this knowledge to the benefit of the business.
16.    Manage projects with minimal direction to help the business achieve objectives.
17.    Update contractual price list and pricing amendments on a timely basis.
18.    Lead the evaluation of relevant internal processes, procedures and systems and proposes recommended improvements to management.
19.    Serve and be an effective team member on multi-disciplinary teams to solve problems and to increase the effectiveness of the department.   
20.    Lead trainer and coordinator to ensure the training of new associates in the TIS Contracts & Analytics Dept.
21.    Demonstrate a commitment to patient safety and product quality by maintaining compliance with all TMC Quality Systems requirements. This includes but is not limited to the prompt recognition and forwarding of customer complaints (i.e. adverse events, product performance reports, etc.) to Quality Assurance (QA), and by ensuring all promotional messaging (i.e. branding strategies, product claims, etc.) and materials (i.e. literature) discussed or presented to customers are clinically accurate and adhere to AdvaMed guidelines and Terumo’s policy on Interactions with Healthcare Professionals.  
22.    Perform other job-related duties as assigned.  

Working Conditions/Physical Requirements

This position exists in an office environment. Approximately 10% overnight travel is required.

Knowledge, Skills and Abilities (KSA)

  • Ability to quickly learn Terumo’s products, procedures and systems.
  • Must have strong written, verbal and interpersonal skills.
  • Must be able to manage multiple priorities and deadlines while working under minimal supervision in a fast paced, deadline driven environment.
  • Strong computer skills including Microsoft Office and ability to run recurring and adhoc reports through an ERP system.
  • Must be able to handle confidential information.
  • Must be detail orientated.
  • Ability to synthesize various independently generated data points into cohesive reports.
  • Excellent analytical, organizational, and critical thinking skills.


Qualifications/ Background Experiences

  • Bachelor’s Degree and a minimum of 5 year of contract analyst/administrator experience, or equivalent combination of education, training and experience required. 
  • Must have analytical experience with contracts including legal terms and conditions, preferably in the medical device industry.   
  • Experience with a contracting ERP system (i.e. JD Edwards, SAP, etc) preferred.
  • Experience developing customer agreements and administering customer pricing, or related activity.
  • Experience with Microsoft Excel and Word required.

It is Terumo’s policy to provide equal employment opportunity to all its employees and applicants for employment regardless of their race, creed, color, national origin, age, ancestry, nationality, marital or domestic partnership or civil union status, sex, pregnancy, gender identity or expression, disability status, liability for military service, protected veteran status, sexual orientation, atypical cellular or blood trait, genetic information (including the refusal to submit to genetic testing), or any other category protected by law. As a Company, we value diversity of background and opinion, and prohibit discrimination or harassment on the basis of any legally protected class in the areas of hiring, recruitment, promotion, transfer, demotion, training, compensation, pay, fringe benefits, layoff, termination or any other terms and conditions of employment.

Nearest Major Market: New Jersey