Product Manager, Commercial Products

HMSA • Honolulu, HI

9d • Hybrid

About The Position

This role is responsible for owning the end-to-end product strategy for an assigned segment, including benefit design, competitive positioning, rate considerations, and portfolio optimization. The Product Manager will establish short and long-term product goals, translate strategy into actionable initiatives, and conduct regular portfolio and market assessments. They will monitor and communicate product performance, identify opportunities for improvement, and serve as the organizational subject matter expert for products and benefits. The role also involves leading the development, filing, and implementation of new products and benefit enhancements, ensuring all product documentation is accurate, and coordinating cross-functional teams for successful launches. Additionally, the Product Manager will maintain awareness of regulatory requirements, analyze their impact, and manage operational execution of product management activities. They will also serve as a consultative resource for Sales and Account Management, participate in client meetings, and develop client-facing materials. Finally, the role includes leading or working with other departments on miscellaneous projects and performing other assigned duties.

Requirements

• Bachelor's degree and five years of related work experience; or an equivalent combination of education, training, and work experience.
• Strong oral and written communication skills.
• Intermediate working knowledge in Microsoft Excel, Word and PowerPoint.

Responsibilities

• Own the end to end product strategy for the assigned segment, including benefit design, competitive positioning, rate considerations, and portfolio optimization.
• Establish short and long term product goals in partnership with leadership; translate strategy into actionable initiatives and recommendations.
• Conduct regular portfolio and market assessments, including competitive analysis, pricing position, and performance benchmarking.
• Monitor and communicate product performance across membership, financial results, utilization trends, and customer impact; prepare executive level insights and recommendations.
• Identify opportunities to improve performance through benefit design changes, program enhancements, operational improvements, or vendor collaboration.
• Serve as the organizational subject matter expert for products and benefits for assigned segment.
• Evaluate and respond to custom or ad hoc benefit requests from Account Management Services (AMS), executive leadership and external clients.
• Lead and support the development, filing, and implementation of new products, benefit enhancements, and product changes.
• Ensure all product documentation and materials--including Guide to Benefits (GTB), Summary Plan Descriptions (SPDs), certificates, and related communications--accurately reflect approved changes.
• Coordinate cross functional teams (Actuarial, Finance, Operations, IT, Legal, Compliance, Marketing, Sales, AMS) to ensure operational readiness and successful launches.
• Provide subject matter expertise throughout the product lifecycle, from concept through implementation and post launch evaluation.
• Maintain awareness of regulatory requirements and mandated changes impacting the product portfolio.
• Analyze the operational, financial, and member impact of regulatory changes and present findings to leadership.
• Coordinate reviews with internal subject matter experts and provide guidance and support to ensure compliant and timely implementation of mandated changes.
• Execute day to day product management activities to support ongoing maintenance, enhancements, and implementation of products and benefits.
• Coordinate with internal partners to ensure accurate benefit configuration, system readiness, and operational execution.
• Draft, review, and approve product related documentation and internal materials.
• Provide timely, practical recommendations in response to emerging issues, operational needs, and custom requests.
• Serve as a hands on consultative resource for Sales and Account Management on product strategy, benefit design, and competitive positioning.
• Participate directly in client meetings, renewals, finalist presentations, and EUTF discussions.
• Development of client facing presentation decks and materials related to product and benefit strategy, change summaries and recommendations ensuring content is accurate, compelling, and aligned with product strategy.
• Translate complex product and benefit concepts into clear, actionable messaging for internal and external stakeholders.
• Lead or work with other departments on miscellaneous projects related to products, benefits, and programs.
• Performs all other miscellaneous responsibilities and duties as assigned or directed.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level