Product Manager, Payroll & Rewards product focus

Principal Financial Group • Minneapolis, MN

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About The Position

Principal is seeking an experienced Product Manager to join its HR Rewards product family team. The role leads the Payroll product portfolio and helps shape a connected strategy across payroll, compensation, and benefits. It takes an end-to-end product perspective, covering business strategy, operational workflows, stakeholder needs, technology delivery, and measurable product outcomes.

The Product Manager owns the Payroll product lifecycle across capabilities delivered through Oracle HCM, ADP, system integrations, and supporting operational workflows. The role leads product intake, discovery, prioritization, and delivery; partners with payroll, HR, technology, delivery, and vendor-supported teams; collaborates with the compensation and benefits product manager on a cohesive roadmap; monitors product health and release outcomes; and advances product practices across the Rewards product family.

Principal is a purpose-led financial services firm focused on making financial security accessible to all. The position offers in-office, hybrid, and eligible remote arrangements. Salaried exempt employees receive Flexible Time Off. The role is pension eligible. Applicants must not require immigration sponsorship now or in the future to work in the United States. Principal uses AI tools to support initial application review, fraud prevention, and candidate matching, with human involvement in final hiring decisions.

Requirements

• At least 4 years of business, technology, or product management experience, or equivalent demonstrated through work experience, training, military experience, or education.
• At least 2 years partnering with engineering teams, business partners, and stakeholders in a collaborative, matrixed product environment.
• Experience leading one or more products through the product lifecycle, including strategy, discovery, prioritization, delivery, and outcome measurement.
• Experience applying critical thinking, customer and stakeholder insights, and data to identify problems, evaluate opportunities, and make product decisions.
• Ability to lead through influence, build stakeholder relationships, negotiate priorities, and align people across organizational boundaries.
• Experience mentoring and coaching product professionals and advancing product management practices within an organization.
• Must not require immigration sponsorship or additional work authorization now or in the future to work in the United States.

Nice To Haves

• Product management experience in the payroll domain, using ADP, Oracle HCM, or comparable enterprise payroll and HR platforms.
• Experience supporting products in a global organization and collaborating across regions.
• Strong product management maturity and ability to help business, technology, and program partners connect their work to a cohesive product strategy.
• Financial services or retirement industry background.

Responsibilities

• Own the end-to-end Payroll product management lifecycle across Oracle HCM, ADP, system integrations, and supporting operational workflows.
• Lead product intake, discovery, prioritization, and delivery by identifying high-value opportunities, defining desired business outcomes, testing hypotheses, and using data and insights to guide decisions.
• Partner with payroll, human resources, technology, delivery, and vendor-supported teams to align priorities, build shared understanding, and remove delivery barriers.
• Collaborate with the compensation and benefits product manager to maintain a cohesive Rewards product family roadmap.
• Facilitate roadmap, prioritization, and tradeoff discussions, and identify cross-product dependencies, impacts, risks, and investment opportunities.
• Consider the broader impact on adjacent HR products and the connected rewards experience when making payroll product decisions.
• Monitor product health and outcomes, evaluate release impact, and make performance insights visible to product leaders, partners, and stakeholders.
• Advance product maturity within payroll by modeling strong product practices, improving ways of working, and mentoring and advising others to strengthen product management across the Rewards product family.

Benefits

• Flexible Time Off for salaried exempt employees, with paid time away for vacation, personal needs, or short-term illness and no accrued bank or set number of days.
• Pension eligibility.
• Comprehensive, competitive benefits designed to support employees’ physical, financial, and social well-being.
• Non-sales positions have the opportunity to participate in a bonus program.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed