Pricing Analyst

NewMarket Services Corporation•Richmond, VA

About The Position

ABOUT US: NewMarket 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. JOB SUMMARY: 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.

Requirements

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
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 MS Excel, MS PowerPoint, and MS Word
Knowledge of the principles of value-based pricing, strategic (market) 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 industry/function
Able to travel as required (less than 10% of time)

Nice To Haves

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

Responsibilities

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 back up 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 systems 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

Benefits

Benefits / Compensation - We offer competitive compensation and benefit packages that reflect our commitment to our employees. Our employees are our most treasured asset and we have dedicated resources that allow us to reward our employees for their commitment on an ongoing basis - ensuring our compensation packages are competitive in the industry.
An Equal Employment Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to the individual’s race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), parental status, national origin, age, disability, genetic information (including family medical history), political affiliation, military service, or other non-merit based factors.

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