Associate - Business Development - Compliance

Mayo Clinic; Rochester (MN); On-site; USD 88,300 - 123,700; Full time

Benefits offered by this job

Medical plan options

Dental coverage

Vision plan

Pre-Tax Savings options

Retirement package

Job summary

A leading healthcare organization seeks a Business Development Associate to support compliance activities and monitor agreements. Responsibilities include tracking performance metrics and ensuring adherence to operational terms. Candidates should have a Bachelor’s degree, one year of related experience, and excellent project management skills. The role is full-time in Rochester, Minnesota, offering a salary range of $88,300 to $123,700 per year, with benefits eligible.

Qualifications

• One year of experience related to business development or technology commercialization.
• Ability to navigate complex inter-organizational issues.
• Experience with technology licensing is desired.

Responsibilities

• Support post-deal compliance activities related to active agreements.
• Monitor partner performance and adhere to financial terms.
• Maintain compliance documentation and support audit activities.

Skills

Excellent verbal and written communication skills

Strong project management skills

Analytical skills

Ability to manage several initiatives simultaneously

Entrepreneurial qualities

Education

Bachelor’s degree in business, science, or related field

Advanced degree (PhD, MD, JD)

Job description

Benefits Highlights

• Medical: Multiple plan options.
• Dental: Delta Dental or reimbursement account for flexible coverage.
• Vision: Affordable plan with national network.
• Pre-Tax Savings: HSA and FSAs for eligible expenses.
• Retirement: Competitive retirement package to secure your future.

Responsibilities

The primary responsibility of this position is to directly support the mission of Mayo Clinic Business Development through post-deal compliance activities related to Business Development’s portfolio of active agreements. The Associate will serve as an individual contributor responsible for interpreting, tracking, and supporting enforcement of contractual obligations, monitoring partner performance, coordinating internal stakeholders, and ensuring adherence to financial and operational terms. This role includes maintaining compliance documentation, supporting reporting and audit activities, identifying and escalating risks, and assisting in the resolution of compliance issues. The Associate will be expected to work on multiple projects simultaneously, and to organize and manage work accordingly.

Role

Business Development is organized around three functional Work Units. This Associate role is part of the Commercialization Work Unit and will work collaboratively with colleagues in all three Work Units:

• Commercialization - Evaluate the commercial potential of a variety of medical inventions and discoveries coming from Mayo's clinical and research activities, developing and implementing technology sales and marketing plans, managing the patent process, identifying potential commercial partners, negotiating license agreements and other commercialization arrangements, managing relationships with industry and advising Mayo physicians and scientists regarding protection of intellectual property and technology-based business matters.
• Technology Development - Identify, evaluate, and support the development and protection of new technologies and intellectual property arising from Mayo Clinic’s research and clinical activities.
• Partnerships - Source, evaluate, and develop new business opportunities for Mayo Clinic, including partnerships, collaborations and other strategic transactions.

Qualifications

• Bachelor’s degree required, or an advanced degree preferred (e.g., PhD, MD, JD), in business, science, or a related field, plus one year of specific experience related to business development, finance/venture capital, technology transfer, venture management, IP commercialization, licensing, patents, partnerships, business-to-business collaborations, investments, start‑up companies and/or sourcing partnering opportunities in the health care, medical/biotechnology or financial/venture capital industries.
• One year experience directly related to technology licensing for roles within the Commercialization Work Unit.
• In lieu of a degree, a minimum of years of applicable experience equal to the number of years normally required to earn the degree will be recognized as satisfying the degree requirement, i.e. four years experience equivalency for a Bachelor’s degree, two years experience equivalency for a Master’s degree, two years experience equivalency for an advanced degree.

Must have the ability to perform successfully in a business development/technology commercialization role, and to navigate complex inter‑ and intra‑organizational issues and relationships. Must possess excellent verbal and written communication skills with the ability to interact with a variety of different people with diverse backgrounds. Requires strong project management and time management skills and the ability to manage several initiatives simultaneously. Must have entrepreneurial/intrapreneurial qualities. Must possess strong analytical skills, be resourceful, and be able to work independently on assigned projects.

Additional Skills & Qualifications

Depending on the specific position assignment, additional preferred skills may include: business plan creation, due diligence, market research, marketing plan development, concept analysis, business model development, financial pro‑forma development and analysis, legal/regulatory issues assessment, monitoring product/operating unit performance, technical sales, evaluation of medical technologies, negotiations, contract drafting, evaluation of scientific and commercialization potential of cutting‑edge technologies, and knowledge of science, clinical or bench research, business principles, laws and regulations that relate to the patenting and licensing of inventions. Experience working with an organization or in a role directly related to one or more of the relevant Work Teams may be given special consideration. Additional consideration may be given for: experience with an academic medical center or equivalent setting; mergers and acquisition experience; financial modeling and analytical valuation experience; Chartered Financial Analyst certification, (complete or in progress); experience with a national consulting firm in related functional areas or industries.

Exemption Status

Exempt

Compensation Detail

$88,300 - $123,700 / year

Benefits Eligible

Yes

Schedule

Full Time

Hours/Pay Period

80

Schedule Details

Monday - Friday, Business Hours. This vacancy is not eligible for sponsorship; we will not sponsor or transfer visas for this position. Also, Mayo Clinic DOES NOT participate in the F-1 STEM OPT extension program.

Weekend Schedule

Not Applicable

International Assignment

No

Site Description

Just as our reputation has spread beyond our Minnesota roots, so have our locations. Today, our employees are located at our three major campuses in Phoenix/Scottsdale, Arizona, Jacksonville, Florida, Rochester, Minnesota, and at Mayo Clinic Health System campuses throughout Midwestern communities, and at our international locations. Each Mayo Clinic location is a special place where our employees thrive in both their work and personal lives. Learn more about what each unique Mayo Clinic campus has to offer, and where your best fit is.

Equal Opportunity

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, protected veteran status or disability status. Learn more about the "EOE is the Law" . Mayo Clinic participates in E-Verify and may provide the Social Security Administration and, if necessary, the Department of Homeland Security with information from each new employee's Form I-9 to confirm work authorization.