Strategic Product Manager

Job Summary

This is a hybrid position. Three (3) days onsite at the Chicago Headquarters located at 300 East Randolph Street Chicago, IL and two (2) days working remotely. Candidates must reside within a 250 mile radius of the Chicago Headquarters.

This position is responsible for managing complex existing products and or a product suite and leads the development of product strategy for both current and next generation product solutions in the health insurance space.

Responsible for leading and managing the product lifecycle from ideation through market launch by analyzing and interpreting market trends, developing marketing strategy and assessing product performance. Serves as the subject matter expert responsible for product management activities including marketing collateral development, training efforts, client reporting, monitoring product performance and refreshing product pricing. Supports sales and account management to position products for critical client sales.

            Manage existing products of a complex nature or a product line by understanding the market, regulatory environment and competitive landscape, developing and updating the product feature roadmap and working with key partners to ensure the product is supported by sales collateral, analytics, training, and pricing. 

            Strategic thinking in the development of product strategy and all product management and development activities by understanding and communicating why the product is important to the company and its customers.

            Act as the subject matter expert to internal and external audiences as it relates to the positioning and strategy of the product/products or product line.

            Monitor product performance, identify and proactively address opportunities to improve performance by working with operational/vendor partners; work with analytics teams to ensure appropriate analytics are available for clients and internal stakeholders.

            Manage large vendor partners to successfully market solutions, drive engagement and inform the product roadmap.  Collaborate with Procurement on vendor selection activities and to successfully negotiate vendor contracts/renewals.

            Develop go to market positioning and work with communication partners to ensure that marketing collateral effectively conveys product value.

            Support Sales and Account Management by understanding customer needs, helping SAM appropriately position products in the market and addressing questions about the product and broader competitive landscape. Support RFP activities and positioning. Provide product training as necessary.

            Conduct competitive research and use knowledge of product area, competitive landscape, and market trends to identify areas for new product development.

            Collaborate with and influence cross-functional teams and key stakeholders to develop new enterprise product offerings ensuring key functionality and features are well defined and agreed upon by stakeholders. 

            Design and execute research and analyses in support of product development and management processes. May include:

o            Market and competitor research

o            Financial analysis and proformas

o            Internal operational analysis

o            Regulatory requirements

            Partner with Actuarial and Underwriting to establish and refresh product pricing informed by market insight.

            Demonstrate critical thinking and problem-solving skills in day to day product management and development activities.

            Manage multiple priorities across products and work with staff to complete tasks on time with high quality.

            Effectively communicate with multiple audiences, facilitate meetings driving to results and deliver effective presentations. 

            Lead the development of metrics and financial requirements for reporting and budget needs.

            Develop strong stakeholder relationships across the Enterprise and effectively advocate for product needs.

            Provide leadership and guidance to junior members of the Product team and be a role model.

Required Job Qualifications:

 Bachelor Degree and 4 years of experience in consulting, strategic planning, marketing, market research, product management, or product development OR 8 years of experience in strategic planning, product management, product development OR Master’s Degree and 2 years of experience in consulting, strategic planning, marketing, market research, product management, or product development.

 Experience effectively interacting with staff/management across multiple departments and levels, including executive leadership.
 Experience leading and mentoring other staff, as appropriate.
 Experience building key relationships and understanding organization interdependencies
 General business and financial analysis skills
 Knowledge of sales and marketing techniques, marketplace and competition
 Analytic and information synthesis skills.
 Communication and persuasion skills.
 Project management skills, including strong organization, prioritization and problem solving skills.
 Strong oral, verbal and interpersonal communication skills; experience accepting direction and feedback.
 Flexibility and responsiveness in managing multiple projects concurrently.
 Presentation and group facilitation skills.
 Initiative and persistence, with experience meeting deadlines.
 Experience leading within a team environment.
 Word, Excel, PowerPoint.

Preferred Job Qualifications:

 Health insurance or healthcare industry experience
 Previous responsibility for the administration of a product or product line, including development of products from inception to launch, and product introduction and monitoring for success or need for reengineering.
 Experience working directly with clients and benefit consultants or brokers.

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Pay Transparency Statement:

At Health Care Service Corporation, you will be part of an organization committed to offering meaningful benefits to our employees to support their life outside of work. From health and wellness benefits, 401(k) savings plan, pension plan, paid time off, paid parental leave, disability insurance, supplemental life insurance, employee assistance program, paid holidays, tuition reimbursement, plus other incentives, we offer a robust total rewards package for employees.  Learn more about our benefit offerings by visiting https://careers.hcsc.com/totalrewards.

The compensation offered will vary depending on your job-related skills, education, knowledge, and experience. This role aligns with an annual incentive bonus plan subject to the terms and the conditions of the plan.

Flex employees are expected to be in the office a minimum of three days a week. Management will have discretion to modify an employee's weekly schedule for exigent circumstances.

 

Base Pay Range$84,400.00 - $152,300.00

Exact compensation may vary based on skills, experience, and location.