Product Development Manager I (Finance)

Job Description:

Summary:

The Product Development Manager leads the product development and product management process for health plans and related service offerings. Incumbent defines product opportunities within commercial and retail markets, documenting requirements, securing approvals and leading development activities from initial concept through commercialization. The Product Development Manager drives enhancements and activities to package/promote and optimize product performance in all channels. The incumbent is accountable for strategies which support and promote profitable market share, throughout the product life cycle. The Product Development Manager creates comprehensive and cohesive product strategies, including pricing, promotion and distribution for all segments and regions.

Essential Primary Responsibilities/Accountabilities:

All Levels

Level I

• Develops and enhances the company's health care products to ensure product lines remain competitive, profitable and responsive to community needs.
• Monitors product life cycle and develops/adjusts strategy accordingly. Develops metrics and monitors product performance; makes annual strategy recommendations.
• Works closely with marketing staff and leadership to report on planning, developing, and roll-out of new products and product enhancements.
• Leads the product development process from the concept phase to the post-launch analysis phase by engaging cross-functional teams and driving all development and business integration activities.
• Supports requirements end-to-end through all business and technology areas.
• Documents new product concepts and engages stakeholders in brainstorming meetings.
• Develops communications and training for successful product deployment and lead business-readiness activities. Works with brand communications to package and promote product information and ensure sales process is supported and ready for market introduction.
• Responsible for ongoing sales support and subject matter expertise for products owned.
• Acts as liaison for assigned product(s) to keep all areas of corporation informed of product status. Works closely with implementation team to ensure successful new product or product enhancement roll-out.
• Keeps Senior Management apprised of product status through written and oral reports.
• Provides assistance in the vendor negotiation process, as needed.
• Gathers, analyzes and integrates data from multiple sources for product strategy. Integrates and synthesizes both qualitative and quantitative information from multiple sources into cohesive reporting for leadership.
• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies' mission and values, adhering to the Corporate Code of Conduct and leading to the Lifetime Way values and beliefs.
• Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.
• Regular and reliable attendance is expected and required.
• Performs other functions as assigned by management.

Level II (in addition to Level I essential responsibilities/accountabilities):

• Overall accountability for the successful development and implementation of new products and product lines serving market segments.
• Develops cohesive and complete product strategies which incorporates regional and segment needs.
• Determines necessity and viability of potential new product(s) and business developments/initiatives.
• Recommends and conducts market research to understand current member needs, identification of unmet market/product needs and opportunities for growth.
• Recommends and conducts market research to understand and forecast competitor trends. Monitors sources of information on state and federal funding and oversight to determine likely impacts to the product portfolio.
• Acts as initial liaison with vendors as necessary to define partnership and develop product/service offerings.
• Develops strategies and tactics to maximize new membership, retain existing members, and minimize disenrollment.
• Serves as key stakeholder during issue-resolution and implementation planning.
• Responsible for strategic assessment of all aspects of the product including:
• Profitability
• Market potential
• Proactive evaluation of market and competitive environment
• Identification of product opportunity by market segment and region
• Monitoring internal management reports, i.e. profit/loss financial statements, membership gain/loss market potential, enrollment demographics, sales reporting, etc.
• Monitors multiple products across their life cycles and develops/adjusts strategy accordingly.
• Overall accountability for all aspects of a full product portfolio including benefits, price, promotion, and communications. In addition, accountable for coordinating all affiliated product components i.e. medical management, ancillary services, reporting and service.
• Negotiates strategy and policy decisions among all cross-functional areas.
• Leads ad hoc product development sub-committees.
• Serves as a product consultant to internal and external customers and business partners.
• Mentors and provides direction to Product Development Manager I.

Minimum Qualifications:

NOTE: We include multiple levels of classification differentiated by demonstrated knowledge, skills, and the ability to manage increasingly independent and/or complex assignments, broader responsibility, additional decision making, and in some cases, becoming a resource to others. In addition to using this differentiated approach to place new hires, it also provides guideposts for employee development and promotional opportunities.

All Levels

Level I

• Bachelor's degree in marketing, communications, business administration, statistics or similar discipline with a minimum of one years' experience in role, one of which can be from any completed relevant internships. In lieu of a degree, a minimum of six years of related experienceis required.
• Health care industry experience preferred.
• Strong leadership and project management skills.
• Familiarity using databases and manipulating large datasets.
• Knowledge and experience documenting requirement and working knowledge of project phases and artifacts.
• Must show initiative and creativity in assessing the trends in the marketplace and recommending their impact on the product portfolio.
• Excellent oral and written communication skills, strong analytical ability, vendor negotiation, business requirements translation skills required.
• Ability to make a business case for solutions and understand and communicate the impact of the solutions to be implemented.
• Excellent presentation skills for a wide range of internal and external audiences including medical and legal professionals.
• Must be self-driven and able to be successful in ever-changing and ambiguous environments.
• Ability to establish effective relationships and manage these relationships with all levels of corporate staff and external professionals, strategize and negotiate with middle and senior management levels.

Level II (in addition to Level I minimum qualifications):

• Minimum of four years' experience in a marketing, product or program development role. MBA preferred.
• Ability to manage people and projects effectively, and to strategize and negotiate with middle and senior management levels.
• Ability to manage multiple projects and product initiatives simultaneously.
• Proven success in leading large complex development programs and working with technical teams to develop products.

Physical Requirements:

• Ability to travel to corporate offices and to national conferences.

************

The Lifetime Healthcare Companies aims to attract the best talent from diverse socioeconomic, cultural and experiential backgrounds, to diversify our workforce and best reflect the communities we serve.

Our mission is to foster an environment where diversity and inclusion are explicitly recognized as fundamental parts of our organizational culture. We believe that diversity of thought and background drives innovation which enables us to provide leading-edge healthcare insurance and services. With that mission in mind, we recruit the best candidates from all communities, to diversify and strengthen our workforce.

OUR COMPANY CULTURE:

Employees are united by our Lifetime Way Values & Behaviors that include compassion, pride, excellence, innovation and having fun! We aim to be an employer of choice by valuing workforce diversity, innovative thinking, employee development, and by offering competitive compensation and benefits.

In support of the Americans with Disabilities Act, this job description lists only those responsibilities and qualifications deemed essential to the position.

Equal Opportunity Employer

Compensation Range(s):

Minimum: $60,410 - Maximum: $106,929

The salary range indicated in this posting represents the minimum and maximum of the salary range for this position. Actual salary will vary depending on factors including, but not limited to, budget available, prior experience, knowledge, skill and education as they relate to the position's minimum qualifications, in addition to internal equity. The posted salary range reflects just one component of our total rewards package. Other components of the total rewards package may include participation in group health and/or dental insurance, retirement plan, wellness program, paid time away from work, and paid holidays.

Please note: There may be opportunity for remote work within all jobs posted by the Excellus Talent Acquisition team. This decision is made on a case-by-case basis.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.