PRICING ANALYST

Pricing Analyst

Pricing Analyst Job Duties

• Collaborating with sales and marketing departments on developing and implementing competitive pricing strategies
• Serves as the internal customers’ first point of contact for questions regarding pricing and the data used to generate proposed pricing, discounts, terms
• Applying statistical modeling methods to determine the potential impact of pricing strategies on profitability.
• Responsible for analyzing and reporting on margin and market pricing to identify risks and capitalize on opportunities
• Identify new pricing opportunities, assess the potential impact and makes price recommendations
• Supports pricing change impact assessment for annual business planning
• Develops data sources, models and methods to identify pricing improvements, opportunities or inconsistencies (“leaks”)
• Preparing and presenting pricing analysis findings to executives, marketing teams, and sales staff.
• Ensure that prices and specific programs conform to the organization’s pricing strategy
• Aligning pricing strategies with company’s pricing systems
• Responsible for documenting and maintaining pricing processes
• Responsible for the review and administration of price deviations and exceptions
• Coordinate with IT to ensure the accuracy of pricing data in ERP, targeting to eliminate pricing errors
• Responsible for preparing and conveying pricing reviews to internal and external contacts following defined processes
• Carry out an assessment on requests for commission-based adjustments (CBAs), self-funded deviations, and price approvals
• Respond to pricing queries escalated from sales and other employees as needed
• Work with relevant stakeholders to resolve costing errors
• Effect promotional pricing in designated product categories and territories
• Administer and upload exceptions for vendor’s price list from suppliers
• Carry out the process for preparing, submitting, approving, and maintaining data for invoice, exception, and other pricing categories.
• Provide support for system upgrades and implementations related to pricing

Requirements

• Bachelor’s degree in Business, Economics, Statistics, Mathematics, or equivalent educational qualification, or a minimum of 3 years experience in finance. Pricing experience is preferred.
• Strong quantitative and analytical skills with in-depth knowledge of statistical methods and data analysis.
• Extensive experience in analyzing pricing strategies and forecasting revenue and market share.
• Experience in collaborating on pricing strategies with sales and marketing departments.
• Ability to keep abreast of industry trends and develop dynamic pricing tools.
• Strong business acumen and demonstrated experience working with and supporting sales teams. Must be able to access information within established pricing databases, or analyze data made available from other sources.
• Must have advanced computer skills with Microsoft Office applications, including Excel, Word, and PowerPoint. They are also required to have working experience with ERP and BI applications like Power BI. SQL experience strongly preferred.
• Outstanding communication skills to relate effectively with superiors, sales teams, customers, and vendors. Strong writing skills necessary for documenting pricing processes and creating reports.