Product Development Director - CarelonRx

Anticipated End Date:2026-09-12Position Title:Product Development Director - CarelonRxJob Description:Product Development Director - CarelonRxLocation: This role requires associates to be in-office 3 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 if candidates reside within a commuting distance from an office, and are willing to work Eastern or Central Time Zone business hours. Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless accommodation is granted as required by law.CarelonRx is a proud member of the Elevance Health family of companies. CarelonRx pairs a strong, clinical-first lens with deep pharmacy expertise to create solutions that improve outcomes, control costs, and enhance each member’s health.The Product Development Director is responsible for defining product portfolio strategy, driving product innovation, and providing director-level governance across the product operating model. This director partners with clients, executive stakeholders, and cross-functional matrix teams to translate business strategy into product portfolio priorities, guide Product Lifecycle Management (PLM) progression, ensure Product Council readiness, and deliver innovative product solutions that meet customer, market, regulatory, and business objectives across new and existing markets.How You Will Make an ImpactPrimary duties may include, but are not limited to:Define product portfolio vision, strategy, and priorities aligned with business objectives, market opportunities, and portfolio goals.Translate product strategy into actionable roadmaps, governance expectations, and Product Lifecycle Management (PLM) execution plans.Lead product development initiatives from concept through launch, ensuring alignment with strategic objectives, stakeholder expectations, and value realization goals.Drive Product Council readiness, PLM progression, launch planning, and governance activities to ensure timely execution and decision-making.Monitor product, financial, operational, and customer performance metrics to identify opportunities for optimization, growth, and innovation.Evaluate and refine product ideas by assessing strategic alignment, business value, customer impact, operational readiness, and portfolio fit.Lead Voice of Customer (VoC), market research, and competitive intelligence activities to inform product strategy and innovation efforts.Develop and guide go-to-market strategies, stakeholder communications, and launch readiness plans for new products and enhancements.Partner cross-functionally with Clinical, Finance, Legal, Compliance, Marketing, Sales, Account Management, IT, Data & Analytics, and Operations teams to deliver product solutions.Provide executive-level guidance on strategic tradeoffs, roadmap priorities, resource allocation, timing, and escalation decisions.Serve as a product leader and subject matter expert, influencing stakeholders and driving alignment across a complex matrixed organization.Escalate strategic decisions requiring Product Head, senior leadership, business unit, or executive leadership team alignment while balancing customer needs, market opportunities, readiness, timing, and business value.Minimum Requirements:Requires a BA/BS degree and a minimum of 5 years of related experience; or any combination of education and experience, which would provide an equivalent background.Preferred Skills, Capabilities, & Experiences:Pharmacy Benefit Management (PBM), health plan, managed care, or healthcare product experience preferred.Experience with product portfolio strategy, roadmap governance, Product Lifecycle Management (PLM), Product Council readiness, launch governance, and value realization preferred.Experience leading cross-functional alignment across business, IT, Legal, Compliance, Operations, Product Platform, Finance/Actuary, and Marketing preferred.Strong executive communication, stakeholder management, strategic prioritization, governance, problem solving, and decision-making skills preferred.Experience developing financial models, requirements, roadmaps, and concept materials preferred. MBA or advanced degree in Business, Healthcare Administration, or a related field preferred.For candidates working in person or virtually in the below location(s), the salary* range for this specific position is $116,424.00 to $182,574.00. Locations: Illinois & New Jersey In addition to your salary, Elevance Health offers benefits such as a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). The salary offered for this specific position is based on a number of legitimate, non-discriminatory factors set by the Company. The Company is fully committed to ensuring equal pay opportunities for equal work regardless of gender, race, or any other category protected by federal, state, and local pay equity laws. *The salary range is the range Elevance Health in good faith believes is the range of possible compensation for this role at the time of this posting. This range may be modified in the future and actual compensation may vary from posting based on geographic location, work experience, education and/or skill level. Even within the range, the actual compensation will vary depending on the above factors as well as market/business considerations. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable under the terms and conditions of the applicable policies and plans. The amount and availability of any bonus, commission, benefits, paid time off, stock, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law. Job Level:Director EquivalentWorkshift:Job Family:MKT > Product, Prog/Proj & SupportPlease be advised that Elevance Health only accepts resumes for compensation from agencies that have a signed agreement with Elevance Health. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Elevance Health.Who We AreElevance Health is a health company dedicated to improving lives and communities – and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve.How We WorkAt Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business.We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process.The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws.Elevance Health is an Equal Employment Opportunity employer, and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process should submit the following form: Accessibility Accommodation Request Form and a member of the team will be in contact. Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act.Prospective employees required to be screened under Florida law should review the education and awareness resources at HB531 | Florida Agency for Health Care Administration.NOTE: Workday keeps job postings active through 11:59:59 PM on the day before the listed end date. Example: If the end date is 3/13, the posting will automatically come down on 3/12 at 11:59:59 PM. In other words — the job is posted until 3/13, not through 3/13.SummaryLocation: NJ-ISELIN, 111 S WOOD AVE, STE 220; KY-LOUISVILLE, 3195 TERRA CROSSING BLVD, STE 202, 204, 300, 302, 304 & 306; IN-INDIANAPOLIS, 220 VIRGINIA AVE; FL-MIAMI, 11430 NW 20TH ST, STE 200 & 300; OH-MASON, 4361 IRWIN SIMPSON RD; DE-WILMINGTON, 123 S JUSTISON ST, STE 200; MO-ST. LOUIS, 100 S 4TH ST; OH-SEVEN HILLS, 6000 LOMBARDO CENTER, STE 200; IL-CHICAGO, 8600 W BRYN MAWR AVE, 10th & 11th FL; TX-GRAND PRAIRIE, 2505 N HWY 360, STE 200 & 300; IL-CHICAGO, 233 S WACKER DR, STE 3700; GA-ATLANTA, 740 W PEACHTREE ST NW; FL-LAKE MARY, 3200 LAKE EMMA RD, STE 1000; TN-NASHVILLE, 22 CENTURY BLVD, STE 310; FL-TAMPA, 5411 SKYCENTER DR, STE 700 & 800Type: Full time