The Product Management job family has 5 defined Levels in it. The 5th Level that resides in this family supports both the Product Development & Product Management functions. The Product Management job function is responsible for all product management activities for an existing product line and/or product category. Responsibilities will include at the most senior levels, the development of an overall product, as well as managing the growth, maturity, & decline of a product post-launch which may include oversight of ongoing enhancements or extensions for an existing product line &/or line of business. May create & manage of a program or portfolio of products, a product line, & related services as appropriate. The Product Management job function is responsible for leading work throughout the product management process. This job function will capture & synthesize market data, including competitor & customer trends. The product &/or product line will also be managed to ensure that metrics are established (Examples of success metrics include, financial targets, membership targets, customer expectations, market requirements, internal performance metrics, etc.) & that the line of business & operational business targets are met or exceeded. Product enhancements are also identified & planned (as are product retirements). The Product Management function will ensure that products brought to market meet customer (e.g., member, broker, consultant, purchaser, internal customers, etc.) needs & expectations. The product management role is responsible for leading cross-functional teams in a matrixed-management environment. The Product Manager may manage the resources and outputs of many generalist disciplines, from market research, product development, finance, product marketing, & systems implementation. The product management role partners closely w/ other functions such as compliance/regulatory, IT, strategy, sales, training, operations & administration etc. The Product Management job function is responsible and accountable for leveraging the applicable components of the Product Development & Management Process (PDMP) & Comprehensive Delivery Process (CDP). The product management function provides input on the PDMP process to ensure the process is current & aligned w/ what it takes to develop & manage products in the current environment. The Product Management job function leads Executive Sponsorship & stakeholder engagement throughout the lifecycle process. Identifies stakeholders, establishing regular updates, opportunities for discussion, & preparation for lifecycle review meetings w/ executive leaders and/or governance bodies. In addition, there will need to be extensive engagement w/ the Sales & Account Management, Marketing, Health Plan Administration, operational leadership & MSBD-VP and/or business line leadership.
Essential Responsibilities:Provides strategic direction and leadership to develop the product agenda for a given product line or lines (for a specific region or Program Offices) to develop and manage a program or portfolio of products or a product line. This work based on extensive knowledge of customer and business needs requirement research conducted for a given market.Makes recommendations and/implement the planning and processes of online and offline touch points, synching the user experience across channels (web, IVR, phone, in person, etc), and supporting multi channel experience and escalation.Accountable for ensuring that a region, product line, or market segment's product portfolio delivers results (membership/ margin) to meet or exceed business targets.Directs the creation and manages the product line/product category P/L to demonstrate the value that is delivered to the customer and KP so that KP Products continue to meet evolving customer needs.Responsible for overseeing all product development, justification, implementation, and management activities for a product line or product category.Manages assessment of performance enhancement opportunities, line extension opportunities, and retirement recommendations.Directs the promotion and development of all applicable key PDMP deliverables for a given region or market to ensure that product initiatives move successfully through the approval gates.Acts as the Practice leader and subject matter expert for a Product category.Acts as the Practice lead to institutionalize changes to Program Product Management practices, in concert with the leads from other product categories.Responsible for development and maintenance of policies and procedures to implement Product Development best practices and makes recommendations to management on Program needs to achieve strategic objectives.Leads governance reviews with executive sponsors and/or senior leadership.Presents recommendations and findings to regional or Program management and cross-functional leadership.Utilizes an integrated Product Management plan, directs the post-launch activities of decentralized resources in Marketing, Sales, Business Development, and others to realize the value outlined in the business case and to identify future market opportunities.Direct Product development project plans and timelines to ensure that a given product plan will produce desired results for the targeted market segment and regional operation and/or to meet broader product solutions which would be developed for segment specific strategies. Identify and address key problem areas for remediation.Directs the Project or Program Manager (or is accountable if no project manager is allocated) to ensure that a comprehensive Project Plan exists for all key initiatives. Routinely reviews Project and Product scorecards and timelines and incorporates and addresses key outcomes that are caused by delay or project resource gap into a comprehensive impact analysis.Directs the creation of necessary Product Development and/or Management Programs, supports applicable key PDMP activities and deliverables and influences all cross-functional leaders to implement programs necessary to meet market demands.Responsible for directing vendor relationships, including network management where applicable.Act as intermediary between e-Commerce department and various inter-departmental groups, among them Engineering, Quality/Assurance and Customer Service to ensure a continuous and successful end-user experience.Acts as Program or regional expert on technical matters, to team members and cross-functional staff.Oversees all Lifecycle Management activities including, Product Performance and Tracking & Reporting, Product Performance & Evaluation, Product Enhancements Planning and Product Retirement.Leads Product Management update meetings and communicates updates regularly with MSBD-VPs, Sales Leadership and other Key Stakeholders.Other responsibilities may include vendor management, network management, involvement in ensuring operational fixes &/or administrative issues are handled, business process & policy & procedure development & implementation support, involvement in development of product training content, product marketing content, change management, business requirement development, development or refinement of product performance tools & communication and product pricing. For National Benefits Design and Management, primary responsibilities include capturing & synthesizing critical market data (e.g. competitor benefit capabilities, industry standard benefit designs, & customer preferences and trends). Programwide responsibilities include ensuring consistency & compliance across the regions from a benefits alignment perspective (e.g., proposal development for regional changes, monitoring regional benefits options for compliance w/ Programwide standards, etc.). Staff in the National Benefits Design & Management area also has accountability for partnering with key functional areas, business lines, regions, & systems partners w/in the organization to ensure alignment, consistency & compliance for our benefits across the program.Primary accountabilities are: 1. Designs & recommends changes & enhancements to benefit designs & benefit policies. 2. Develop & adopts best practice Programwide benefit policies & practices that result in flexibility & which accommodates a wide variety of choice to meet customer needs while minimizing differences that could affect inefficiencies in administration. 3. Provide subject matter expertise to Product Development & Product Management, other functional stakeholder groups (e.g., actuarial/pricing, underwriting, market research, competitive intelligence, legal, HealthConnect, Diamond, etc.), business line stakeholders (e.g., FEHB, National Accounts, etc.), regional stakeholders (e.g., regional benefits design staff), & Systems/IT partners (e.g., DSS, KPHC, Claims, etc.). 4. Increase benefits alignment across the regions in order to provide one KP face to the customer. 5. Assist in the development of benefit initiatives. Independent Contributors in this Product Management job function may also require a high level of proficiency in Product Development, Program Management & Project Management w/ experience in consulting, health insurance, insurance, operations, marketing, health plan administration, contract administration, claims processing, health care consulting, & provider (medical group) billing operations. Staff primarily accountable for Product Development activities &/or product regulatory technical specialists (who spend 80% or more of their time on Development activities only) should be matched to the Product Development job function. Staff primarily accountable for Project & Program Management (who spend 80% or more of their time consulting on Project/Program Management disciplines) should be matched to the Program and Project Management job function.