VP, Product Management

Job Purpose:

Reporting to the SVP, Product, the Vice President, Product Management will serve in a key leadership role as a member of the Senior Leadership Team (SLT) and will have responsibility for leadership and strategic direction in the development, execution, enhancement, and management of the company’s product portfolio.

With responsibility for the expanding (SaaS) Product function, the VP, Product Management must be passionate about the incubation, design, development, and launch of new SaaS products in the data and technology space. This person must bring a strong background in leading best-in-class teams that manage and own a product portfolio. This person will work to identify, design, and drive initiatives that grow Inovalon’s business throughout the healthcare value chain and establish a positive impact on the organization’s operating efficiency and profitability.

Essential Duties and Responsibilities:

1. Develop and maintain an expert level of knowledge regarding products, services, capabilities, infrastructure, and operations of Inovalon and its affiliates, the marketplace, competition, strategic positioning, threats, and direction to achieve optimal insight and success with respect to Inovalon’s (and those of its affiliates) products, services, capabilities, support, functionality requirements, and financial performance;
2. Lead, drive, and ultimately be responsible for all aspects of the product portfolio strategy through a build, buy, partner lens including market research, financial planning, feature/function road-mapping, development, implementation, operation, regulatory compliance, maintenance, and overall financial performance (inclusive of pricing, sales, realized revenue, development costs, and operating contribution/margins), to include:
   1. Business Planning: The development and maintenance of a multi-year business plan (the “Identified product(s) Plan(s)”) to meet the overall goals of the Identified Product(s), including all key elements such as competitive landscape, target customer needs analyses, TAM and SAM opportunity analyses, prioritized feature/function road map, development plan (inclusive of timelines, resource requirements, and costs), market differentiators, go-to-market plan, customer contract requirements, and financial projections (inclusive of pricing, sales, realized revenue, development costs, and operating contribution/margins), which shall be updated quarterly;
   2. Strategy: Define the product portfolio strategy through a buy, build, partner lens. Drive the partnership and M&A strategy, lead partnership engagement efforts, foster and support key strategic partner relationships, and collaborates with corporate M&A team.
   3. Engineering Detail: Ensure that the product team is building comprehensive feature/function requirements details, acceptance criteria, volume expectations, performance expectations, testing parameters, and other requirements of engineering to achieve reliable, timely, and successful development, testing, and operation of the Identified Product(s);
   4. External Coordination & Communication: The engaging of customers, potential customers, internal stakeholders, business partners, industry experts, and subject matter experts to gather insight and feedback with respect to the competitive landscape, customer needs, TAM and SAM opportunity analyses, prioritization of feature/function road map, so as to make adjustments, as necessary, to optimize and realize the Identified product(s) Plan(s);
   5. Internal Leadership: The leadership and management of personnel necessary to successfully achieve the Identified product(s) Plan(s), inclusive of direct oversight in cases where such personnel report directly or indirectly to Employee, and matrixed coordination in cases where such personnel do not report directly or indirectly to Employee;
   6. Internal Support: The support of necessary internal resources, inclusive of marketing, legal, financial, engineering, sales, customer success, and other such resources, as necessary, to optimize and realize the Identified product(s) Plan(s);
3. Maintain comprehensive communication with Inovalon management and appropriate internal personnel, vendors, and customers regarding timelines, readiness, needs, risks, cost implications, resource requirements, and all other material aspects related to the Identified product(s) Plan(s);
4. Actively drive and seek opportunities to leverage Inovalon-wide products, capabilities, data, and processes to deliver best-in-class SaaS products.
5. Establishes and monitors key metrics to drive adoption of Agile processes and tools in partnership with Engineering to write product requirements, communicate priorities for sprint and release plans, participates in backlog refinement and retrospectives.
6. Serve as a key member of Employer’s management, promoting Employer’s values, driving and supporting Employer leadership in the strategic development of initiatives to identify enhancements which may improve products, services, operations, employee satisfaction, client appeal, process flow, and overall business function, industry reputation, and financial performance of the Company;
7. Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position;
8. Maintain compliance with Inovalon’s policies, procedures and mission statement; and
9. Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of Employer.

Minimum Requirements:

• Minimum 12 years of relevant experience with demonstrable accomplishments in product development, management and enhancement, business strategy, business plan development, market/industry research and competitive analysis
• Minimum of 10 years of experience in healthcare technology
• Minimum of 5 years of experience in managing and growing SaaS based software with portfolios in excess of 35+ applications
• Minimum of 5 years of experience in Agile Framework
• Minimum of 5 years of experience supervising staff in excess of 25 and product lines worth over $150 million
• Minimum of 5 years leading and scaling a customer-facing support function in a fast-moving, high-growth healthcare SaaS organization

Education:

• Bachelor’s or Master’s degree in business-related field
• 10+ years Healthcare experience
• Expertise in the Agile framework and establishes and monitors key metrics to drive adoption of Agile processes and tools in partnership with Engineering to write product requirements, communicate priorities for sprint and release plans, participates in backlog refinement and retrospectives.
• Experience leading a platform or product portfolio
• Salesforce (or similar) experience

Physical Demands and Work Environment:

The physical demands and work environment characteristics described here are representative of those that an employee must meet to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Physical Demands: While performing the duties of this job, the employee may be required to move around the work area; sit for long periods of time; perform manual tasks; perform tasks involved with business travel (including air travel, ground transportation, hotel stays, etc.).  The employee must occasionally lift and/or move more 15 pounds (e.g., lifting a suitcase into the overhead bin of an airplane, into the trunk of a taxi, etc.). 
• Mental Demands:the employee must be able to follow directions, to get along with others, and handle stress; must be able to manage work from home environment with minimal distractions
• Travel: Travel is expected up to 35%

Compliance / Other:

• Must adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered
• Uphold responsibilities relative to the separation of duties for applicable processes and procedures within your job function
• Maintain compliance with Inovalon’s policies, procedures and mission statement