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Associate Director, Investment And Return
Full/Part Time: Full Time
Location/Affiliates: Mount Sinai Medical Center (Manhattan)
Department: 872 - Mount Sinai Innovation Partners
Requisition Number: 13-1568522
The Associate Director, Investment & Return (the: "AD") for Mount Sinai Innovation Partners ("MSIP") at the Icahn School of Medicine at Mount Sinai ("School") is a master financial and economic analyst with outstanding technical, business and communication skills. Acting as an internal consultant', the AD works closely with and supports the entire MSIP team: the Finance and Operations group; the IP and Asset Development group; the Business Development group; and, the Commercial Development group.
The AD also actively cooperates and coordinates with Mount Sinai Faculty and Inventors, School Finance staff and various commercial partners to predict our innovations' global market opportunities, assign values for a variety of scenarios, and help structure complex financial transactions.
The AD participates in and influences the team decision process to initiate, continue, or stop investment in patent protection; team decisions to fund proof-of-concept projects (TDF) for innovations and inventions; and creates the financial models and economic forecasts required to: assess return on investment, maximize cash flow, stimulate commercial interest, and structure good quality deals (e.g., collaborative research agreements, licenses, and equity transactions in spin-offs and start-ups.) The AD continuously assesses and analyzes both the short-term and long-term economics of our innovations currently in the marketplace, as well as those in a development and/or approval pipeline to support Mount Sinai's financial and strategic plans.
The AD has a working knowledge of the research and science behind an innovation and can confidently engage with Faculty, entrepreneurs, bio-tech engineers, etc. Further, the AD understands and can draft, as necessary, the business terminology and analytics required for the deal. The AD serves as deputy to the Director, Finance and Operations on any matters assigned.
A successful AD will be a strong candidate for promotion into one or more senior team roles, including: Director, Finance and Operations.
1. Drives MSIP's team efforts by creating economic analyses and financial plans for individual patented and non-patented assets in MSIP's portfolio, and the continuous analysis of business cases to quantify the economic return and risk for:
a. New disclosures
b. Decisions to advance patent prosecution
c. Prospective license agreements
d. Prospective spin-offs/new ventures
e. Requests for funding for proof-of-concept or further development.
2. Develops and manages an asset portfolio expected to generate a growing revenue stream consistent with the School's strategic plans for investing in translational medicine. (Note: As of 2013, the current revenue stream is running at approximately: $35 million per year.)
3. Analyzes commercial opportunity for individual assets, predicts cash flows, assigns present values and helps the team structure good deals for the institution and its inventors.
4. Develops, directs and implements innovative actions and interventions to achieve the agreed-to financial goals and strategies.
5. Coordinates and cooperates with counterparts in Grants & Contracts, General Counsel Office, and the Dean's Office to leverage MSIP data and planning in support of institutional objectives.
Bachelors Degree in Accounting, Finance or Economics. Masters Degree, preferred.
10 years of financial planning & analysis, preferably in a pharmaceutical or bio-tech environment.
May have been a CFO in a small or large pharmaceutical or bio-tech company.
Experience with investor groups and/or corporate boards and governance.
Hands-on experience with office operations, human resources, accounting, systems and/or administrative support.
The ability to understand and discuss the particular science of an invention, and its commercial applicability.
Mount Sinai Medical Center is an equal opportunity/affirmative action employer. We recognize the power and importance of a diverse employee population and strongly encourage applicants with various experiences and backgrounds. Mount Sinai Medical Center--An EEO/AA-D/V Employer.