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Director of Product Development

Accounting Now

This is a Full-time position in Princeton, NJ posted November 21, 2021.

Director of Product Development in Princeton, NJ at Accounting Now

Job Description

Director of Product Development needed for International Insurance Company in Princeton, New Jersey.

Responsible for the development and planning of new products and services.

This includes the conceptualization and design.

Responsible for finding opportunities in the marketing of products and services.

Must have skills and understanding in marketing research, sales forecasting, and promotional planning.

The mission is to successfully take a product from concept to launch execution.

They are also responsible for overseeing the set-up and implementation of quality assurance protocols for their product.

Responsibilities and Duties:

  • Directs and performs all aspects of product development, product changes and product promotions including planning, analysis, design, training, programming and quality control.
  • Coordinate product development workflow and provide detailed test cases based on changes that have implemented.

Product Innovation

  • Form and work with an internal cross-functional team (Product Development Team) composed of account services, operations, accounting, marketing, legal and other internal departments to build and/or enhance value-added products
  • Provide leadership and supervision in the planning and execution of product development projects across multiple categories and product types
  • Work with the Product Development Team to analyze respective customers and markets, assess the competitive landscape, identify product opportunities and create product definitions
  • Initiate, coordinate, conduct and evaluate related research within the team environment
  • Conceptualize and research new ideas, evaluate them objectively from a market and financial standpoint, and make recommendations
  • Prioritize ideas and opportunities worth pursuing
  • Work collaboratively with clients to become knowledgeable about market trends and consumer needs relevant to the industry
  • Apply client requirements information to improve existing products or for new product development
  • Travel as needed, including client and vendor visits and industry-related conferences

Product Strategy

  • Help to create a disciplined process for evaluating product ideas with the Product Development Team
  • Help with the development of new processes and procedures to streamline the product development cycle
  • Fully analyze existing products performance and prepare business cases for potential products
  • Facilitate all cross-functional team (internal and external) communication and coordination
  • Serve as the project manager for all phases of the development process, including working closely with all members of the Product Development Team and the Executive Committee to bring a product to successful launch on-time and on-budget
  • Serve as the primary point of knowledge and disseminator of information on the products themselves
  • Identify and develop appropriate partnerships with vendors to deliver outsourced services connected to newly developed products and/or re-assess existing arrangements
  • Work with the Director of Global Operations in evaluating the servicing requirements of new products and assessing the feasibility of utilizing overseas office

Business Planning/Marketing Support

  • Develop product strategic priorities and business objectives
  • Maintain an awareness of product fit within the overall business model.
  • Work collaboratively with existing and prospective clients
  • Develop and provide product description material for marketing and account services purposes
  • Work with the Product Development Team to execute redevelopment and repositioning of existing products
  • Work with the marketing team to articulate product, set goals, meet with customers, and provide focus to communication in several markets
  • Performs other related duties and assignments as required

Qualifications/Requirements:

  • Extensive knowledge of the assistance industry and trends.
  • In-depth knowledge of products, strategic/analytic, and marketing concepts
  • Must be able to conceptualize new ideas, research the new ideas, and evaluate them objectively.

    From a market and financial standpoint.

  • Creative thinker with an open mind willing to learn and explore new areas and opportunities
  • Organizational, administrative and time-management skills
  • Strong research and analytical skills
  • Managerial experience
  • Capable of managing several projects concurrently
  • Well-organized; detail oriented; ability to work with other executives; calm under pressure.

Education/Training/Experience:

  • BA/BS Degree or equivalent industry work experience.
  • Experience in Project Management a plus
  • International travel experience and understanding of foreign cultures.
  • Proven track record of consistently exceeding corporate objectives.

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