Product Innovation & Growth Strategy Director

Product Innovation & Growth Strategy Director

Location: 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.

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 an accommodation is granted as required by law.

The Product Innovation & Growth Strategy Director will support the identification, evaluation, and advancement of new product opportunities that drive growth, differentiation, affordability, and superior health outcomes across Elevance Health's Commercial portfolio.

Reporting to the Head of Product Innovation, this role sits at the intersection of strategy, innovation, analytics, and execution. The Director will serve as a high-impact thought partner and operator leading analytical workstreams, shaping investment cases, and helping translate early-stage concepts into actionable pilots and scalable solutions.

This role is ideal for a highly analytical, entrepreneurial leader with a structured problem-solving toolkit who is eager to build and scale products in a complex healthcare environment.

How you will make an impact:

• Lead analytical workstreams to evaluate new product concepts, including market sizing, competitive landscaping, and financial modeling.
• Help manage the new idea intake and prioritization funnel, including preparing materials for intake and ideation forums.
• Develop investment cases for new product builds and partnerships
• Conduct ROI modeling and scenario analysis to support portfolio prioritization decisions.
• Support execution of Commercial Product's build-buy-partner strategy through structured diligence and stakeholder coordination.
• Partner with Growth Studio and Commercial product leaders to assess and advance priority innovation initiatives (e.g., AHPs, GLP-1s, emerging care models)
• Develop frameworks, dashboards, and metrics to evaluate pilots and inform scale decisions.
• Synthesize complex analyses into clear executive-ready recommendations.

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 and Experiences:

• 25 years of experience at a top-tier professional services firm (e.g., management consulting, investment banking)
• Exceptional structured problem-solving and analytical skills
• Advanced financial modeling and Excel capabilities
• Ability to independently drive workstreams in ambiguous environments
• Strong executive communication skills able to distill complex analyses into concise insights
• Demonstrated interest in healthcare, innovation, venture, or product strategy
• High intellectual curiosity and entrepreneurial mindset
• Ability to influence without authority and build strong cross-functional relationships.

For candidates working in person or virtually in the below locations, the salary* range for this specific position is $117,768 to $201,888.

Location(s): Costa Mesa, CA; Woodland Hills, CA; Walnut Creek, CA; Denver, CO; Chicago, IL; Woburn, MA; Hanover, MD; Iselin, NJ; New York City, NY; Las Vegas, NV, and Ashburn, VA.

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.

Job Level: Director Equivalent

Workshift: Job Family: MKT > Product, Prog/Proj & Support