Product Development Director – CarelonRx

Role Overview

• Leads strategy and implementation of new or enhanced PBM products, including clinically driven solutions, UM programs, and integrated product bundles across Commercial and government segments.
• Partners with cross-functional leaders (Clinical, Actuarial, Trade Relations, Operations, IT, Sales, and Medical partners) to deliver aligned, enterprise-wide product strategies that meet both clinical and financial objectives.
• Drives product roadmap execution with a focus on accelerating speed-to-market, reducing product lifecycle timelines, and prioritizing high-impact, revenue-generating opportunities.
• Monitors specialty drug pipeline, biosimilars, emerging therapies, and market innovations to inform product strategy and identify opportunities for differentiation or gap closure.
• Evaluates current product portfolio performance, identifying opportunities to enhance, sunset, or expand offerings to improve adoption, utilization, and profitability.
• Ensures all products are compliant with regulatory directives, state/federal laws, and evolving PBM transparency requirements.
• Coordinates the communication, presentation, and implementation of all phases of product development, including go-to-market readiness and stakeholder alignment.
• Serves as a subject matter expert for clinical product capabilities, representing product strategy in client, partner, and executive-level discussions.
• Collaborates across matrix partners to break down silos and deliver integrated pharmacy and medical solutions, including supporting growth in ASO and integrated product offerings.
• Monitors competitive, regulatory, economic, and industry trends to proactively assess product impacts, risks, and opportunities.

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.
• MBA or PharmD with a strong focus on healthcare strategy, pharmacy benefit management, or clinical program design preferred.
• 5+ years of PBM product development, managed care pharmacy, or related experience with demonstrated ownership of product strategy, roadmap development, and P&L impact preferred.
• Deep understanding of formulary management, P&T processes, specialty pharmacy economics, and utilization management strategies, including experience developing clinical product bundles preferred.
• Proven ability to operate in a highly matrixed environment, partnering across clinical, trade, operations, IT, sales, and medical teams to deliver integrated product solutions preferred.
• Strong strategic, analytical, and agile mindset with the ability to assess market trends, identify product gaps, and rapidly translate insights into actionable product strategies preferred.
• Experience engaging with senior leadership and executive stakeholders as a product subject matter expert, with the ability to influence decisions, manage vendor relationships, and maintain a member-centric approach to product design preferred.

Benefits

• comprehensive benefits package
• incentive and recognition programs
• equity stock purchase and 401k contribution