CVS Health

Compensation

Full Description

We’re building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you’ll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time. Hiring preference given to candidates residing in the eastern time zone. Role Overview The Lead Director, Product Innovation will be a key leader in shaping the future of Mental Well-being (MWB) solutions. This role is responsible for incubating, piloting, and launching innovative products and solutions that address evolving market needs and improve member outcomes. The individual will leverage market insights, claims trend data, and feedback from sales and account management teams to design and deliver differentiated solutions. This position requires a strategic thinker with strong execution skills, financial and marketing acumen, and the ability to lead through all phases of product development—from ideation to go-to-market launch. Upholding a rigorous product gating process and driving commercialization efforts will be critical to success. Key Responsibilities Innovation Leadership: • Identify emerging trends, market gaps, and opportunities in the MWB space both direction and through partnership with Strategy and Data Science functions. • Translate insights into actionable product concepts and business cases. Product Development & Gating: • Lead product gating stages from Pre-Concept through Launch, ensuring adherence to gating processes. • Partner with cross-functional teams (clinical, actuarial, finance, marketing, operations) to validate concepts and ensure feasibility. Go-to-Market Execution: • Develop and execute launch strategies, including pricing, positioning, and marketing plans. • Collaborate with sales and account management to drive adoption and revenue growth. Financial & Marketing Acumen: • Collaborate with finance, underwriting, and actuarial colleagues to build robust financial models to support ROI/VOI analysis and pricing strategies. • Ensure marketing strategies align with product positioning and customer needs. Stakeholder Engagement: • Serve as a thought leader and trusted advisor to internal and external stakeholders. • Communicate complex concepts clearly to diverse audiences, including executives. Qualifications Required Experience and Skills: • 10+ years in product development, innovation, or strategy within healthcare or benefits industry, or equivalent experience. • Proven track record of launching successful products and managing go-to-market strategies. • Strong financial modeling and business case development skills. • Exceptional marketing and commercialization expertise. • Ability to lead both strategic planning and tactical execution. • Excellent communication, collaboration, and leadership capabilities. • Preferred Experience and Skills: • 5+ years of product development or innovation experience at a national payer • Experience working in the Medicare Advantage and Medicaid space • Practice in leveraging design thinking principles • Continuous improvement and growth mindset Education: Bachelor’s degree required; advanced degree preferred (MBA, MPH, or related field) or equivalent work experience. Travel Up to 20% Pay Range The Typical Pay Range For This Role Is $100,000.00 - $231,540.00 This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. This position also includes an award target in the company’s equity award program. Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong. Great Benefits For Great People We take pride in our comprehensive and competitive mix of pay and benefits – investing in the physical, emotional and financial wellness of our colleagues and their families to help them be the healthiest they can be. In addition to our competitive wages, our great benefits include: • Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan. • No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching. • Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility. For more information, visit https://jobs.cvshealth.com/us/en/benefits We anticipate the application window for this opening will close on: 03/15/2026 Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.