Managing Director of Commercial Product Strategy

Pay Range:

$173,200.00 - $277,200.00

Please email HR_Talent_AcquisitionTeam@bcbsri.org if you are a candidate seeking a reasonable accommodation for the application and/or interview process.

 

At BCBSRI, our greatest resource is our people. 

We come from varying backgrounds, different cultures, and unique experiences. We are hard-working, caring, and creative individuals who collaborate, support one another, and grow together. Passion, empathy, and understanding are at the forefront of everything we do—not just for our members, but for our employees as well.

We recognize that to do your best work, you have to be your best self. 
It’s why we offer flexible work arrangements that include remote and hybrid opportunities and paid time off. We provide tuition reimbursement and assist with student-loan repayment. We offer health, dental, and vision insurance as well as programs that support your mental health and well-being. We pay competitively, offer bonuses and investment plans, and are committed to growing and developing our employees.

Our culture is one of belonging.
We strive to be transparent and accountable. We believe in equipping our associates with the knowledge and resources they need to be successful. No matter where you’re at in the organization, you’re an integral part of our team and your input, thoughts, and ideas are valued.

Join others who value a workplace for all.
We appreciate and celebrate everything that makes us unique, from personal characteristics to past experiences. Our different perspectives strengthen us as an organization and help us better serve all Rhode Islanders. 

We’re dedicated to serving Rhode Islanders.
Our focus extends beyond providing access to high-quality, affordable, and equitable care. To further improve the health and well-being of our fellow Rhode Islanders, we regularly roll up our sleeves and get to work (literally) in communities all across the state—building homes, working in food pantries, revitalizing community centers, and transforming outdoor spaces for children and adults. Because we believe it is our collective responsibility to uplift our fellow Rhode Islanders when and where we can, our associates receive additional paid time to volunteer.

Why this job matters:

Lead the strategy, development, launch, and lifecycle management of   commercial product portfolio across individual, small group, and large group markets, including medical, pharmacy, dental, vision, and ancillary products and services. Establish the multi-year product roadmap and investment priorities needed to advance membership, revenue, affordability, competitiveness, and customer experience objectives. Lead development of differentiated suite of digital and traditional solutions for self-insured/ASC customers that improve clinical and pharmacy performance, support health, lifestyle, and well-being, and address insurance and risk-management needs. Ensure disciplined portfolio governance, regulatory compliance, annual maintenance, financial and operational reporting, analysis of the total cost of carrying and administering products, and measurement of product adoption, effectiveness, and financial performance. Direct cross-functional teams and strategic partners from opportunity assessment and business case development through implementation, optimization, and retirement.

What you will do:

• Provide executive leadership and technical direction to the product strategy, development, and management function. Establish priorities and accountabilities, evaluate performance, develop talent, and build the capabilities required to manage a complex, multi-segment portfolio. Oversee commercial bid development and submission as well as BCBSA interplan compliance and reporting.
• Own multi-year commercial product strategy and roadmap across individual, small group, and large group markets, including medical, pharmacy, dental, vision, and ancillary offerings. Translate enterprise priorities, customer and broker insights, competitive intelligence, market research, regulatory requirements, and financial analysis into differentiated portfolio and investment decisions.
• Lead development of digital and traditional market solutions for self-insured/ASC customers across clinical and pharmacy performance, health, lifestyle and well-being, and insurance and risk management. Define target customers, value propositions, requirements, economics, partner models, implementation approaches, and measures of success.
• Establish and govern end-to-end product lifecycle framework spanning opportunity assessment, concept and business case development, experience and benefit design, operational readiness, implementation, go-to-market enablement, annual maintenance, regulatory mandates, benefit and contract updates, optimization, and retirement. Ensure clear decision rights, stage gates, documentation, and cross-functional accountability.
• Direct product performance management and reporting. Establish dashboards and operating reviews that measure enrollment, adoption, retention, utilization, customer and broker experience, clinical and pharmacy outcomes, revenue, margin, administrative expense, vendor performance, and overall effectiveness. Recommend corrective actions, enhancements, simplification, repositioning, consolidation, or retirement based on results.
• Own portfolio financial management, including business cases, pricing and rate-filing inputs, annual planning, profit-and-loss (P&L) projections, investment tracking, and the total cost of carrying and administering products. Partner with Finance, Actuarial, Underwriting, Sales, and segment leaders to evaluate tradeoffs, prioritize resources, and deliver agreed membership and financial outcomes.
• Lead partner and vendor strategy for commercial and ancillary products and market solutions, including selection, contracting, pricing, performance standards, integration requirements, regulatory and security obligations, innovation roadmaps, and relationship management. Align external capabilities with enterprise platforms, provider arrangements, customer needs, and financial commitments.
• Create enterprise alignment and market readiness for new and existing products and solutions. Convene leaders across Sales, Marketing, Clinical, Pharmacy, Operations, Technology, Legal, Compliance, Finance, Actuarial, Underwriting, and Provider Strategy; define positioning and sales enablement requirements; monitor implementation risk; and ensure compliance with applicable legal, regulatory, contractual, and Blue Cross Blue Shield Association requirements.
• Perform other duties as assigned.

What you need to succeed:

• Bachelor’s degree in business, health care administration, marketing, finance, product management, or a related field; or an equivalent combination of education and related work experience.
• Ten or more years’ experience in health insurance product strategy, product development, product management, market solutions, or a related field.
• Seven or more years of people leadership experience, including leadership of managers and cross-functional teams.
• Demonstrated success developing and managing commercial health insurance products across fully insured and self-insured markets.
• Deep knowledge of commercial health insurance markets, including individual, small group, large group, and self-insured/ASC business models.
• Strong command of product strategy, portfolio management, product lifecycle governance, market research, customer insight, financial modeling, and performance measurement.
• Strong command of product strategy, portfolio management, lifecycle governance, market research, customer insight, financial modeling, and performance measurement.
• Executive leadership presence and the ability to influence senior leaders, make enterprise tradeoffs, and drive decisions across complex cross-functional environments.
• Ability to translate customer, broker, market, clinical, pharmacy, operational, and financial insights into differentiated, executable strategies.
• Strong partner and vendor management skills, including negotiation, contracting, and performance management.
• Strong judgment, change leadership, organization, delegation, and talent development skills.
• Excellent verbal and written communication skills, with the ability to convey complex information clearly to executive and non-technical audiences.
• Proficiency with Microsoft Word, Excel, PowerPoint, and other relevant analytics and product management tools.

The Extras:

• Master’s degree in business administration, health care administration, public health, or a related field.
• Experience with medical, pharmacy, dental, vision, ancillary, digital health, clinical, health, health, lifestyle and well-being, and insurance or risk solutions.
• Experience developing product business cases, portfolio roadmaps, pricing and rate-filing inputs, profit-and-loss (P&L) projections, vendor strategies, and performance measures.
• Experience developing product business cases, portfolio roadmaps, rate filing inputs, profit-and-loss (P&L) projections, vendor strategies, and performance measures.

Location:
BCBSRI is headquartered in downtown Providence, conveniently located near the train station and bus terminal. We actively support associate well-being and work/life balance and offer the following schedules, based on role:

• In-office: onsite 5 days per week
• Hybrid: onsite 2-4 days per week
• Remote: onsite 0-1 days per week. Permitted to reside in the following states, pending approval from the Human Resources Department: Arizona, Connecticut, Florida, Georgia, Louisiana, Massachusetts, North Carolina, Oklahoma, Rhode Island, South Carolina, Texas, Virginia
   

Our culture of belonging at Blue Cross & Blue Shield of Rhode Island (BCBSRI) is at the core of all we do, and it strengthens our ability to meet the challenges of today’s healthcare industry. BCBSRI is an equal opportunity employer.

The law requires an employer to post notices describing the Federal laws. Please visit  www.eeoc.gov/know-your-rights-workplace-discrimination-illegal to view the "Know Your Rights" poster.