Business Development Professional III

Job Title: Business Development Professional III
Location: Toronto, ON
Estimated Duration: 20 Months

Description:
PRODUCT TEAM | POSITION DESCRIPTION
Director, Product Strategy & Growth

Role purpose
The Director, Product Strategy & Growth is accountable for the strategic direction, growth, profitability and lifecycle management of an assigned product portfolio. The role translates customer, market and business insight into a focused portfolio strategy, investment roadmap and commercialization plan that strengthen Manulife’s market position and deliver measurable value for customers, distribution partners and the business.
As a senior product leader and people leader, the Director brings together teams across Product, Distribution, Marketing, Digital, Technology, Operations, Finance, Legal, Risk and Compliance to make sound portfolio choices, accelerate execution and ensure products remain relevant, sustainable and differentiated.

Key accountabilities
Strategy and portfolio ownership

• Own and continuously refine the long-term strategy, value proposition and investment roadmap for the assigned portfolio, aligned to enterprise and business priorities.
• Manage the full product lifecycle, including ideation, validation, development, launch, optimization, modernization, rationalization and, where required, responsible exit or run-off.
• Maintain a focused and relevant product shelf that supports growth, client retention, member value, operational sustainability and market differentiation.
• Translate strategic priorities into clear choices, sequenced roadmaps, investment recommendations and measurable outcomes.
• Structure complex or ambiguous business opportunities into evidence-based assessments and business cases that clearly articulate customer and business value, financial implications, operational impacts, risks, dependencies and trade-offs.

Customer, market and competitive insights

• Champion the voice of the customer by incorporating sponsor, member, advisor and distribution insights into product strategy, design and prioritization.
• Use customer research, market intelligence, competitive analysis, emerging trends and performance data to identify unmet needs, growth opportunities and portfolio risks.
• Define the customer and business problems to be solved and ensure product decisions are grounded in evidence, clear hypotheses and expected outcomes.
• Monitor developments in technology, regulation, healthcare, benefits and adjacent markets to anticipate changes that may affect the portfolio.

Growth, commercialization and performance

• Lead commercialization and go-to-market strategies that strengthen positioning, enable distribution and improve adoption, engagement, revenue and profitability.
• Partner with Sales, Marketing and Distribution to develop compelling value propositions, sales narratives, launch plans and client-facing materials.
• Establish and regularly review portfolio scorecards covering customer outcomes, adoption, growth, revenue, profitability, operational health, risk and strategic value, with clear accountability for delivering agreed portfolio outcomes.
• Use performance insights to recommend investment, optimization, pricing, remediation or exit decisions and communicate progress to senior leadership.

Product and delivery leadership

• Lead major product initiatives from opportunity assessment and business case through delivery, launch and benefits realization.
• Set strategic priorities and desired outcomes for cross-functional delivery teams, ensuring resources remain focused on the highest-value opportunities.
• Guide discovery, experimentation and validation using customer research, concept testing, analytics and other fit-for-purpose methods before significant investment is made.
• Partner with Digital, Technology, Design and Operations leaders to create integrated experiences and scalable solutions; provide direction on scope and minimum viable product decisions.
• Identify and evaluate opportunities to use AI, automation, data and emerging digital capabilities to improve customer value, operating effectiveness or business performance.
• Lead the strategic management of external product partners and vendors, working with Procurement and business partners on selection, contracting, renewals, service expectations, performance and ongoing strategic alignment.
• Ensure product launches and material changes are operationally ready, with appropriate contracts, policy provisions, processes, training, communications, controls and distribution enablement in place.

Risk, governance and regulatory stewardship

• Own product governance for the assigned portfolio and ensure material product, customer, contractual, operational, financial and regulatory risks are understood and managed.
• Work closely with Legal, Compliance, Risk, Privacy and other control functions to obtain required approvals and ensure products and communications meet applicable requirements.
• Bring forward clear decisions, trade-offs and recommendations when risk, customer value, economics or delivery feasibility are in tension.
• Maintain appropriate documentation, controls, decision records and escalation paths across the product lifecycle.

Enterprise leadership and talent development
 

• Build strong relationships and influence across functions and levels to align stakeholders, resolve ambiguity and move complex decisions forward.
• Lead, coach and develop a high-performing team, setting clear expectations and building strength in strategic thinking, commercial acumen, customer insight and execution.
• Create an inclusive, accountable and learning-oriented team environment that encourages constructive challenge and sound decision-making.
• Represent the portfolio in senior leadership discussions, capabilities presentations, distribution forums, client meetings, advisory boards and industry events as required.
• Lead strategic initiatives spanning the broader product organization or business where enterprise priorities require cross-portfolio leadership.

Measures of success

• Clear portfolio strategy and roadmap with demonstrated alignment to business priorities.
• Measurable improvement in customer value, adoption, growth, profitability, retention and/or strategic differentiation, as appropriate to the portfolio.
• Disciplined investment choices supported by evidence, transparent trade-offs and defined success measures.
• Reliable delivery of priority initiatives, with effective management of scope, dependencies, risks and benefits realization.
• Strong product governance, partner performance and lifecycle management.
• An engaged, capable team with clear accountability and succession depth.

Qualifications and experience
Required

• Undergraduate degree in business, finance, marketing, health, technology or a related field, or equivalent experience.
• Typically 8+ years of progressive product, strategy, innovation or commercialization, including leadership of complex cross-functional initiatives.
• Demonstrated experience in financial services, insurance, group benefits, health, wellbeing, disability or other regulated industries.
• Demonstrated experience developing product or portfolio strategies and translating them into executable roadmaps, business cases and measurable outcomes.
• Demonstrated ability to apply product and strategic capabilities across different portfolios, quickly build subject-matter expertise and lead effectively as business priorities evolve.
• Strong commercial and financial acumen, including experience assessing product economics, investment trade-offs and portfolio performance.
• Proven ability to lead through influence in a highly matrixed and regulated environment.
• Experience leading, coaching and developing people and building effective teams.
• Excellent executive communication skills, including the ability to simplify complex issues, frame decisions and deliver clear recommendations.

Preferred

• Experience in group benefits, health, wellbeing, dental and/or disability products, including employer-sponsored solutions.
• Experience managing strategic partnerships, vendors or ecosystem-based propositions.
• Experience with digital product development, customer experience design, agile delivery and data-informed experimentation.
• Working knowledge of relevant compliance, privacy, risk and product governance practices.

Leadership capabilities
Strategic and enterprise thinking
Connects market, customer and business signals; makes choices that strengthen long-term enterprise value.
Customer and growth orientation
Balances customer outcomes with commercial discipline and sustainable portfolio growth.
Decision quality
Uses evidence, judgment and clear trade-offs to make timely recommendations in ambiguous situations.
Influence and collaboration
Builds alignment across diverse stakeholders without relying solely on formal authority.
Execution and accountability
Turns strategy into priorities, mobilizes teams and follows through on measurable outcomes.
Innovation and adaptability
Challenges established approaches, learns quickly and responds effectively to changing conditions.
People leadership
Sets a clear direction, coaches for growth and creates an inclusive, high-performance environment.
Technology and data fluency
Uses technology, analytics and emerging capabilities to improve products, experiences and decisions.
Decision authority

• Full people and resource management accountability within the assigned team, in accordance with organizational policies and delegated authority.
• Recommend portfolio strategy, investment priorities, product launches, significant enhancements, remediation, rationalization and exit decisions to senior leadership.
• Prioritize and reprioritize portfolio work based on customer value, strategic alignment, economics, capacity, risk and changing business needs.
• Define desired outcomes, minimum viable product parameters and scope guardrails for assigned initiatives.
• Direct minor product enhancements and lifecycle actions within approved strategy, budget, risk appetite and governance requirements.
• Manage approved budgets, business cases, financial commitments and partner performance for the assigned portfolio.
• Make implementation and operating decisions within delegated authority and escalate material issues, risks or trade-offs as required.
• Own product risk and governance decisions within the assigned portfolio, in partnership with the appropriate control functions.