Head of Product
The Head of Product is responsible for ensuring execution of the product vision - defining and driving the product strategy. Develop and implement strategic plans for development, improvement, and distribution of product line(s). Build and protect product execution - from planning, to discovery, to the product development process. Responsible for implementing product development process, developing product goals, developing and coordinating implementation of acquisition and retention programs, developing and managing growth/penetration, managing monthly forecasts, managing the product profitability, managing products to maximize performance, managing product enhancements, and maintaining or reducing product costs. Partner with the sales force on new product introductions; with Marketing for advertising & promoting the product(s); with Information Systems for technology and applications support for the product(s). Monitor profitability, productivity and growth targets of assigned product line and make recommendations/corrections to improve attainment of Club's goals and objectives. Conduct market and competitive research to effectively evaluate marketing plans and goals, and to develop optimum sales/service/distribution effectiveness. Negotiate and manage outside vendor contracts. Report findings and recommendations to senior management. Build and protect a product culture -ensuring that the team understands the importance of our core values, innovation, and collaboration. Develop a strong team of product managers, owners, and designers - focusing on recruiting, training, and ongoing coaching.
Job Duties- Ensures execution of the product vision by defining and driving the product strategy. Direct the development, planning and implementation of product and process development for new products. Responsible for developing innovative and creative solutions that meet existing market needs, increasing the value of current products and/or introducing new product/service opportunities. Utilizes trends, developments in the marketplace and customer research to shape product and service offerings. Activities include, but are not limited to, conducting thorough market analysis and research, defining product features and workflows, developing and implementing new product features, developing distribution plans, creating cost-benefit analysis, working with the assigned marketing team to create a marketing plan and appropriate support materials, and interfacing with both internal and external resources to implement programs. Responsible for managing timelines and internal and external resources to launch products.
- Provide strategic directions for all assigned product lines. Determine what products or features to add to the line, and the short-term and long-term product mix that will result in maximum growth of the product line (i.e. establishing product line direction for existing products, including product line extensions and additional target markets); marketing/promoting product line; devising sales channel strategies; tracking revenue and margins; product pricing; positioning products in local markets; initiating measures for product cost containment and cost reduction; tracking industry trends, product segment growth, and market share; ensuring cooperative approach, and proactive communication by team members to support overall product and Club objectives.
- Oversee the implementation of strategic marketing plan for the assigned product line. Research market for business opportunities and ensure integration of product line with the Club's MRM strategy. Directly responsible for managing product expense budget and provides direction and oversight for product advertising budget.
- Work with multiple areas of the organization (including the product distribution channels, sales, operations, finance, etc.) to ensure the development, execution, establishment of goals, and success of all product line initiatives. Monitor, evaluate, and communicate to all areas including senior managers the progress against targeted goals and make corrections to attain assigned objectives.
- Develop a strong team by focusing on recruiting, training, and ongoing coaching. Review and initiate appropriate salary increases, promotions, terminations, and other changes in employee status.
- Facilitate open communication between the Club and outside vendors/business partners on issues such as market research, development, complaints, advertising compliance, and service quality.
- Build and protect a product culture, ensuring that the team understands the importance of our core values, innovation, and collaboration.
- Position requires a high degree of independent decision making and problem-solving skills.
- Regularly makes decisions involving the direction of major initiatives. Implement plans that affect the strategic direction of digital product lines. Informs the development and implementation of new processes.
Qualifications- Bachelor's Equivalent combination of education and experience.
- 5+ years of P&C insurance experience in sales, customer service, product management, underwriting, claims, or analytics. Required.
- Strong product visionary.
- Superior strategic, analytical, critical thinking and problem-solving skills.
- Excellent communication skills, to both internal and external stakeholders, both oral and written, including authorship of product-related documentation.
- Strong interpersonal skills, with the ability to interact effectively with technical and non-technical audiences, and senior executives.
- Advanced ability to think strategically and transform strategy into actionable plans.
- Clear understanding of UI/UX design and the basic principles of usability.
- Advanced ability in defining and leading implementation of new processes.
- Ability to compile, analyze and interpret statistical data.
- Advanced organization, planning, and problem resolution skills required.
- Demonstrated experience shipping a product.
Scope- Work is accomplished without considerable direction. Exercises judgment in selecting methods, techniques, and evaluation criteria in obtaining results. Exerts significant latitude in determining objectives of assignment. Takes calculated risks with consultation from the expert.
- Works on complex issues where analysis of situations or data requires in-depth evaluation of variable factors. Constructs and may pursue alternative paths towards a solution. Exercises judgment in selecting method, techniques and evaluation criteria for obtaining results consistent with broadly defined policies and practices. Problem/Task resolution timeframe: Inclusive of shorter timeframes, but typically six to twelve months or more to resolve.
- Functions independently within broad scope of established departmental policies/practices; generally, refers specific problems to supervisor only where clarification of departmental operating policies/procedures may be required.
- This position manages/supervises a team of 10+
- Erroneous decisions or recommendations would normally result in the inability to reach crucial organizational objectives and may have prolonged effect, as well as result in the expenditure of substantial resources.
- Represents the organization as the primary contact. Interacts with management and senior value-chain partners on matters requiring coordination across organizational lines. Achievement of objectives requires ability to influence others both internally and potentially externally.
The starting pay range for this position is:
$175,700.00 - $259,100.00
Additionally, for full time positions, you will be eligible to participate in our incentive program based upon the achievement of organization, team and personal performance.
Remarkable benefits:• Health coverage for medical, dental, vision
• 401(K) saving plans with company match AND Pension
• Tuition assistance
• Floating holidays and PTO for community volunteer programs
• Paid parental leave
• Wellness programs
• Employee discounts (membership, insurance,
travel, entertainment, services and more!)
