Description
Our Purpose
We work to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. We cultivate a culture of inclusion for all employees that respects their individual strengths, views, and experiences. We believe that our differences enable us to be a better team – one that makes better decisions, drives innovation and delivers better business results.
Title and Summary
Manager, Product Management We are seeking an experienced Product Development Manager to lead the design, development, and implementation of insurance benefits for our credit card product suite. This role requires an individual with deep knowledge of the insurance business model, strong expertise in product development, and proven skills in go-to-market strategies. The ideal candidate is innovation-driven, has a digital-first mindset, and excels in financial analysis and vendor management.The successful candidate will be responsible for driving end-to-end product lifecycle management for insurance benefits tied to credit cards, ensuring alignment with consumer needs and market trends. You will collaborate with cross-functional teams including insurance partners, finance, compliance, and marketing, playing a key role in enhancing our product offerings and growing revenue streams.
Key Responsibilities:
• Product Development & Strategy:
o Lead the development of insurance benefit products for credit cards from concept through to launch.
o Define product features, benefit structures, pricing strategies, and target audience.
o Conduct market research to identify emerging trends and consumer needs in credit card and insurance offerings.
o Develop and refine the go-to-market strategy, ensuring alignment with overall business goals.
• Financial & Analytical Expertise:
o Analyze market dynamics and customer data to make data-driven product decisions.
o Evaluate product performance using key metrics (e.g., ROI, customer acquisition costs, claims rates, etc.).
o Collaborate with finance teams to develop pricing models that balance customer value with profitability.
• Innovation & Digital Orientation:
o Drive the digital transformation of insurance benefits, identifying opportunities to enhance customer experience through digital-first solutions.
o Develop innovative products that incorporate cutting-edge insurance technology (insurtech), ensuring competitive differentiation.
o Ensure alignment with digital platforms, APIs, and integration requirements.
• Vendor & Partner Management:
o Manage relationships with third-party insurance providers and other vendors to develop new insurance products.
o Negotiate terms, contracts, and pricing with external partners.
o Ensure vendors deliver high-quality services that meet regulatory standards and customer expectations.
• Cross-Functional Collaboration:
o Work closely with marketing, legal, compliance, and customer experience teams to ensure seamless product integration.
o Partner with internal teams to ensure compliance with regulatory requirements, including local and global insurance laws.
o Coordinate the training of internal stakeholders on new product offerings, claims processes, and customer service protocols.
• Risk Management & Compliance:
o Ensure all insurance products comply with relevant legal and regulatory standards.
o Work with risk and compliance teams to manage the risk associated with product offerings and vendor relationships.
Key Qualifications:
• Experience:
o 7+ years of experience in insurance product development, marketing preferably within credit card benefits or financial services.
o Deep knowledge of the insurance business model, including, product development, underwriting, claims processing, and pricing strategies and big focus on UX.
o Demonstrated experience in end-to-end product development and go-to-market execution.
• Technical & Analytical Skills:
o Strong understanding of financial modeling, cost analysis, and performance metrics.
o High proficiency with analytics tools to drive data-driven decision-making.
o Experience with digital product development and insurance technology (insurtech).
• Vendor Management Expertise:
o Proven track record in managing external vendors and insurance partners, including contract negotiation and performance monitoring.
• Innovation & Digital Focus:
o Experience with digital transformation of financial products, with a strong focus on user experience.
o Ability to drive innovation in product offerings through the adoption of new technologies.
• Leadership & Collaboration:
o Excellent leadership and interpersonal skills, with the ability to work cross-functionally and influence internal and external stakeholders.
o Strong project management skills with the ability to prioritize and manage multiple initiatives in a fast-paced environment.
Preferred Skills:
• Familiarity with regulatory requirements related to insurance products and credit card offerings.
• MBA or equivalent qualification in business, finance, or a related field is a plus.
Corporate Security Responsibility
All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and, therefore, it is expected that every person working for, or on behalf of, Mastercard is responsible for information security and must:
Abide by Mastercard's security policies and practices;
Ensure the confidentiality and integrity of the information being accessed;
Report any suspected information security violation or breach, and
Complete all periodic mandatory security trainings in accordance with Mastercard's guidelines.
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