Product Manager Senior - CarelonRx Pharmacy Benefit Manager (PBM)

Product Manager Senior - CarelonRx Pharmacy Benefit Manager (PBM)

Product Manager Senior - CarelonRx Pharmacy Benefit Manager (PBM)

Location: This role requires associates to be in-office 1 - 2 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Alternate locations may be considered.

A proud member of the Elevance Health family of companies, CarelonRx (formerly IngenioRx) leverages the power of new technologies and a strong, clinical-first lens, to deliver member-centered, lasting pharmacy care.

The Product Manager Senior role involves comprehensive ownership of product initiatives, from ideation to execution, ensuring alignment with strategic business goals and a deep understanding of market dynamics and customer needs. Responsibilities include leading cross-functional teams through the Product Lifecycle Management process, managing P&L, driving testing readiness, and communicating effectively with stakeholders to deliver successful outcomes and continuous improvements.

How you will make an impact:

P&L Owner: Profit and Loss Responsibility: Ensure financial performance and sustainability, aligning with strategic goals.

Strategic Ownership: End-to-End Accountability: Own the product initiative from ideation to execution, ensuring alignment with business strategy, customer needs, and goals.

Define Product Vision & Objectives: Articulate strategic intent, success metrics, and desired outcomes.

Business Case Development: Create and validate business cases with cost-benefit analysis and market insights.

PLM Gate Leadership: Lead through all Product Lifecycle Management phases, ensuring readiness and stakeholder alignment.

Customer & Market Focus: Voice of the Customer: Use market research and feedback to guide product design and prioritize.

Problem Definition: Clearly articulate customer problems or opportunities, including personas and pain points.

Value Proposition Development: Define and validate the product's value and differentiation.

Cross-Functional Leadership: Collaborate with Project Manager: Partner to co-lead meetings and manage dependencies.

Lead Cross-Functional Teams: Guide stakeholders from IT, Legal, Compliance, Operations, and Marketing.

Decision Maker: Central authority for product decisions, consulting with managers and Product Heads.

Planning & Execution: Product Roadmap Definition: Maintain a roadmap aligning long-term vision with immediate priorities.

Requirements Development: Define business and functional requirements, user stories, and acceptance criteria.

Prioritization: Manage the product backlog and prioritize based on value, risk, and effort.

UAT & Go-Live: Lead business UAT efforts and ensure go-to-market readiness.

Testing Readiness and Execution: Drive testing readiness, oversee execution, and review results to ensure quality and effectiveness.

Communication & Stakeholder Engagement: Communicate Vision and Progress: Clearly communicate goals and progress to stakeholders.

PPOC Participation: Co-present updates at committee meetings with the Project Manager, providing status, risks, and outcomes.

Change Agent: Manage expectations and align on scope, timelines, or priorities.

Post-Launch & Continuous Improvement: Monitor Success Metrics: Track key performance indicators, adoption, and feedback.

Continuous Improvement: Prioritize post-launch enhancements.

Retrospective Leadership: Lead lessons learned sessions to inform future initiatives.

Minimum Requirements: Requires a BA/BS degree in a related field and a minimum of 2 years of related experience; or any combination of education and experience, which would provide an equivalent background.

Preferred Skills, Capabilities, and Experiences: MBA preferred Pharmacy Benefit Management (PBM), Health or managed care experience preferred Healthcare product experience highly preferred