Pricing Analyst

Overview

ABOUT US:

New Market Corporation, headquartered in Richmond, Virginia, is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and American Pacific Corporation (AMPAC). The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. Afton is a leading manufacturer and marketer of performance enhancing fuel and lubricant additives with operations around the world.

AMPAC, with operations in the U.S., is a manufacturer of specialty materials primarily used in solid rocket motors for the aerospace and defense industries.

Support the Marketing Managers and regional Sales teams in regional price development, ensuring consistent and effective implementation of Pricing processes, Pricing Systems (Vendavo) and championing Value-Based Pricing (VBP) in the region.

Price Administration and Compliance (~60% of Time)

• Calculate and implement non-standard Pricing Mechanisms on time and accurately per the contractual obligations with customers
• Ensure regional compliance and governance for price approvals, Most Favored Customers, and internal controls
• Research and validate price changes monthly and quarterly that meet the minimum requirements for review, obtain backup from sellers and RVP approval
• Validate rebate accruals and customer payouts, own communication to Sales and Finance concerning relevant payout and accrual information, as well as working with upper management on approvals
• Lead and champion usage and training of Vendavo pricing system including:
  • CPQ (Configure Price Quote) in Sales
  • CPQ and PA (Profit Analyzer) in Marketing
  • VPP (Vendavo Price Point) in Pricing
• Apply critical thinking skills to reduce errors, leverage system capability, and minimize shortfalls to accrual values or other defects using Lean / Six Sigma methodologies as appropriate

Margin Management (~30% of Time)

• Proactively analyze Americas results to:

• Track Pricing Strategy implementation and assess relevance of Pricing Architecture with Sales organization, for instance lead implementation of Market General Price Changes

• Identify areas of potential margin improvement

• Define action for corrective measures

• Follow Global guidance for Quote Management, steering the regional Americas Sales and Marketing team to comply with the process and ensure a proactive approach to quotation development

• Execute price reviews, including supporting justification and documentation for use internally and externally

• Raw Material Driver Overviews

• Package Cost Trends

• Finished Fluid Price Trends

• Key Customer Share of Wallet & Profitability Analysis

• Sensitivity analysis (historic vs future pricing expectations)

• Identify and implement projects to reduce value leakage, recommending actions e.g. Product Portfolio optimization

Pricing Strategy (~10% of Time)

• Implement and support the regional pricing strategy in line with the Global Pricing Policy & be a regional champion for Value Based Pricing

• Be knowledgeable in Value-Based Pricing methodologies

• Coach and develop skills base across the full customer-facing team

• Understand product and customer segmentation for each BU and work with Marketing Managers to identify and measure value drivers for each product/customer segment

• Monitor pricing and coach product marketers to ensure that all three elements of pricing (market competition, customer derived value, product cost) are factored into SBU and product pricing

• Work with Sales and Marketing to support a system to gather and store competitive intelligence as allowed by local laws and regulations

• Responsible for auditing regional adherence to the Global Pricing Policy and Most Favored Customer (MFC) Policy

EDUCATION & EXPERIENCE MINIMUMS:

• BS/BA and/or MBA in marketing, business, or finance
• 0-2 years relevant work experience
• Demonstrable expertise in Microsoft Excel, Tableau, Power
  
  BI or other analytical tools with strong analytical skills, including understanding and analyzing market trends to make appropriate pricing recommendations/decisions

EDUCATION & EXPERIENCE PREFERRED:

• MBA in Accounting, Finance, or Marketing
• Experience working with price optimization software, like Vendavo or PROS
• Subject matter expert in SAP

SKILLS/ABILITIES:

• Strong analytical skills, including ability to understand and analyze market trends and make appropriate recommendations/decisions regarding pricing in particular product groups and market segments
• Proficiency regarding routine computer applications, such as MS Excel, MS PowerPoint, and MS Word
• Knowledge of the principles of value-based pricing, strategic thinking and related financial impacts
• Strong tenacity in delivering tangible outcomes
• Experience in the principles of market competition, product value extraction & customer analysis
• Ability to effectively solve problems and resolve conflicts
• Effective oral and written communication skills; listens effectively
• Skills, software knowledge and/or certifications specific to the…