Job DescriptionThe Health Plan Product Development team designs and delivers differentiated products and provider partnerships that drive growth, margin, and long-term portfolio performance across multiple lines of business. The Product Manager, Principal, reporting to the Director of Product Strategy, will lead the end-to-end development of health plan products from early strategy and business case development through market launch. In this role, you will synthesize analytic, regulatory, compliance, and operational inputs to build financial models, assess product and portfolio impact, and translate strategy into actionable product requirements. This role will work closely with enterprise partners, providers, and technology teams to build offerings integrated with value-based care, risk-sharing arrangements, and payer-provider collaboration models.Our leadership model is about developing great leaders at all levels and creating opportunities for our people to grow – personally, professionally, and financially. We are looking for leaders that are energized by creative and critical thinking, building and sustaining high-performing teams, getting results the right way, and fostering continuous learning.ResponsibilitiesYour WorkIn this role, you will:Own end-to-end product strategy and lifecycle execution for new, provider?integrated health plan products—from opportunity identification and concept through build, launch, and performance managementTranslate enterprise strategy, market signals, and provider opportunities into clear product visions, defining target segments, value propositions, success metrics, and scopeLead opportunity analysis and market sizing, assessing member needs, provider capabilities, competitive dynamics, market gaps, and growth potentialServe as the principal owner of the business case, including financial and analytic modeling, cost?to?build, pricing and margin considerations, ROI, risks, and tradeoffs to inform investment decisionsDevelop content and manage process and workplan for regulatory filings to the Department of Managed Health Care (DMHC)Act as the senior business lead across product design and build, converting strategy into formal product requirements, priorities, dependencies, user stories, and acceptance criteriaPartner closely with technology and analytics leaders to design platforms, data, dashboards, and reporting capabilities that enable scalable, provider?integrated productsDesign and drive the product operating and governance model, including decision frameworks, funding checkpoints, cross?functional forums, and readoutsShepherd products through implementation and launch, coordinating readiness across providers, vendors, operations, legal, marketing, and go?to?market teamsEnable post?launch performance management for tracking outcomes, surfacing insights, incorporating provider and market feedback, and driving continuous improvementOperate with senior leaders internally and externally, influencing decisions, aligning stakeholders, and delivering clear, executive?ready recommendationsQualificationsYour Knowledge and ExperienceRequires a bachelor's degree in Business, Finance, Economics, Healthcare, Public Health, or related field; graduate degree (e.g., MBA, MPH, MPA, MHA, MSc) is highly desirableRequires at least 8 years of prior relevant experience in Product Management, Management Consulting, and/or EntrepreneurshipRequires healthcare payer experience and demonstrated experience of successfully developing and launching healthcare products or services; experience working with provider organizations strongly preferredRequires advanced quantitative and analytical skills with proven ability to make data-driven decisions and advanced knowledge and mastery of Microsoft PowerPoint and ExcelRequires hands-on experience with digital products and demonstrated ability to partner with technology, IT, or engineering teams to deliver scalable solutionsRequires ability to build effective relationships across an organization in a matrixed environment and externally, with vendors and business partnersExperience preparing and submitting filings to the Department of Managed Health Care (DMHC) strongly preferredCertification in area of expertise preferred (e.g. Agile, PMP, Lean, SAFe, CSPO)HybridThis role requires employees to be in-office based on our hybrid workplace model, balancing purposeful in-person collaboration with flexibility. For most teams, this means coming into the office two days each week.Employees living more than 50 miles from an office location will work with their manager to determine in-office time based on business need.About UsAbout Blue Shield of CaliforniaAs of January 2025, Blue Shield of California became a subsidiary of Ascendiun. Ascendiun is a nonprofit corporate entity that is the parent to a family of organizations including Blue Shield of California and its subsidiary, Blue Shield of California Promise Health Plan; Altais, a clinical services company; and Stellarus, a company designed to scale healthcare solutions. Together, these organizations are referred to as the Ascendiun Family of Companies.At Blue Shield of California, our mission is to create a healthcare system worthy of our family and friends and sustainably affordable. We are transforming health care in a way that genuinely serves our nonprofit mission by lowering costs, improving quality, and enhancing the member and physician experience.To achieve our mission, we foster an environment where all employees can thrive and contribute fully to address the needs of the various communities we serve. We are committed to creating and maintaining a supportive workplace that upholds our values and advances our goals.Blue Shield is a U.S. News Best Company to work for, a Deloitte U.S. Best Managed Company and a Top 100 Inspiring Workplace. We were recognized by Fair360 as a Top Regional Company, and one of the 50 most community-minded companies in the United States by Points of Light. Here at Blue Shield, we strive to make a positive change across our industry and communities – join us!Our Values:Honest. We hold ourselves to the highest ethical and integrity standards. We build trust by doing what we say we're going to do and by acknowledging and correcting where we fall short.Human. We strive to listen and communicate effectively, showing empathy by understanding others' perspectives.Courageous. We stand up for what we believe in and are committed to the hard work necessary to achieve our ambitious goals.Our Workplace ModelWe believe in fostering a workplace environment that balances purposeful in-person collaboration with flexibility - providing clear expectations while respecting the diverse needs of our workforce. Our workplace model is designed around intentional in-person interaction, collaboration, connection, creativity and flexibility:For most teams, this means coming into the office two days per week.Employees living more than 50 miles from an office location, out of state employees, and employees in certain member-facing roles should work with their manager to determine in-office time based on business need.For employees with medical conditions that may impact their ability to work in-office, we are committed to engaging in an interactive process and providing reasonable accommodations to ensure their work environment is conducive to their success and well-being.The Company reserves the right to require more presence in the office based on business needs, and requirements are subject to change with periodic reviews.Physical Requirements:Office Environment - roles involving part to full time schedule in Office Environment. Based in our physical offices and work from home office/deskwork - Activity level: Sedentary, frequency most of work day.Please click here for further physical requirement detail.Equal Employment Opportunity:External hires must pass a background check/drug screen. Qualified applicants with arrest records and/or conviction records will be considered for employment in a manner consistent with Federal, State and local laws, including but not limited to the San Francisco Fair Chance Ordinance. All qualified applicants will receive consideration for employment without regards to race, color, religion, sex, national origin, sexual orientation, gender identity, protected veteran status or disability status and any other classification protected by Federal, State and local laws.