Director Product Management - Risk Management

Centivo is an innovative health plan for self-funded employers on a mission to bring affordable, high-quality healthcare to the millions who struggle to pay their healthcare bills. The Director of Product Management, Risk Management will own the stop loss and captive product portfolio, leading the full lifecycle of risk products and collaborating with various teams to design and manage these offerings effectively.

Responsibilities:

• Own the full lifecycle of Centivo's stop loss and captive product offerings — from program structure and feature design through launch, iteration, and ongoing performance management
• Define and maintain product specifications for specific stop loss coverage, aggregate stop loss, and captive arrangements, ensuring terms, attachment points, and program features are competitive and financially sound
• Lead the evaluation and design of level funding, minimum premium, and partial self-funding structures as differentiated market offerings
• Build and maintain a prioritized product roadmap for the risk management domain that balances underwriting discipline with market competitiveness
• Translate emerging trends in stop loss, reinsurance, and captive markets into actionable product initiatives
• Make and defend trade-off decisions between features, risk appetite, and time-to-market in partnership with underwriting, actuarial, and finance stakeholders
• Partner with underwriting to develop and refine risk selection criteria, pricing frameworks, and program structures — including layered and quota share approaches
• Define product guardrails that support sound underwriting outcomes while giving sales and client management the flexibility to compete effectively
• Evaluate and recommend cost mitigation strategies, including network performance levers and benefit design changes that reduce stop loss exposure
• Lead product strategy for captive program creation, management, and redesign
• Define the criteria and structure for new captive formations, assess performance of existing captives, and drive product changes that optimize outcomes for captive members
• Serve as the internal subject matter expert on captive mechanics, governance requirements, and financial performance levers
• Define product requirements for reinsurance arrangements that support Centivo's risk portfolio
• Evaluate reinsurance structure options and in partnership with finance and actuarial to ensure program designs are appropriately protected
• Maintain awareness of the provider reinsurance landscape as an adjacent opportunity
• Work across finance, underwriting, actuarial, network and teams to ensure risk product designs are operationally viable and financially modeled accurately
• Translate complex stop loss and captive mechanics into clear requirements for technology and operations teams
• Communicate product strategy and performance to executive leadership and board-level stakeholders when relevant
• Monitor the stop loss carrier, MGU, and captive market landscape
• Identify structural shifts in how risk is being transferred, priced, or shared — and translate those signals into product opportunities or defensive responses
• Benchmark Centivo's risk products against competitors across coverage terms, pricing structures, and program features
• Define the metrics that indicate healthy risk product performance — loss ratios, attachment point adequacy, captive funding levels, renewal rates, and cost mitigation program effectiveness — and use them to drive ongoing product decisions
• Surface performance trends and recommend product adjustments proactively rather than reactively
• Represent Centivo's risk management product capabilities externally with brokers, consultants, reinsurers, and at industry forums
• Build credibility in the stop loss and captive market as a product leader who understands both the technical mechanics and the market dynamics

Requirements:

• Bachelor's degree in mathematics, finance, underwriting, actuarial science, or a related quantitative field; advanced degree preferred
• 5 years of experience in stop loss, captive, or a closely related risk domain
• 5 years in product management or a related role, with a proven track record of taking products from concept through launch and scale
• Direct experience at a stop loss carrier, MGU, or the stop loss division of a health plan
• Demonstrated ability to launch and scale innovative, customer-centric products that create durable competitive advantage
• Strong grasp of user experience principles, market trend analysis, and competitive assessment
• Able to communicate product vision and strategy clearly — to an underwriter, an engineer, and a CEO, without changing what you're actually saying
• Skilled at building consensus across stakeholders with competing priorities, and comfortable making and defending trade-off decisions
• Familiar with product management tools, metrics, and adoption methodologies; working knowledge of agile development processes
• 5 years of hands-on experience with stop loss and captive program design and implementation
• Deep knowledge of captive creation, ongoing management, and redesign; level funding programs; and other financial structures including minimum premium and partial self-funding
• Strong working knowledge of layered and quota share approaches, reinsurance mechanics, stop loss underwriting, cost mitigation strategies, network performance, and benefit design
• Experience with self funded plans is required; fully insured or provider reinsurance arrangements is a plus
• Business Acumen – A keenness and quickness in understanding and dealing with a business situation (risks and opportunities) in a manner that is likely to lead to a good outcome
• Accountability & Execution – Taking ownership of actions, following through on commitments, actively carrying out tasks, monitoring progress, delivering results as promised, and being answerable for positive and negative outcomes
• Executive Presence - The combination of gravitas, charisma and trust/authenticity that shows up as a calm, confident demeanor and that is behind the ability to have impact, influence others and achieve desired outcomes within Centivo and with external stakeholders
• Strategist Mindset - The ability see and articulate the bigger picture, thinking proactively and anticipating both opportunities and obstacles in the context of setting direction and maintain alignment to long-term company goals
• Communicate – Managers discuss the company's vision and strategies, the department's direction and goals, and in times of crisis, what we know and don't know to make sure team members know what they need to know
• Clarify – As managers, it's up to us to clarify what good looks like. What do we expect? What do our clients, customers or colleagues need? If our teams are not performing as expected, managers must clarify expectations and ensure understanding
• Coach – Managers provide recognition and feedback; help team members find solutions to challenges; amplify good and filter weaker aspects of organizational culture and the work as they coach employees in their day-to-day performance and their growth and career development
• Connect – Managers help our teams see their collective purpose and how their work connects to the greater whole