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Lead Director, Product Innovation

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.

Position Summary: Lead Director, Product Innovation is responsible for leading the full innovation lifecycle for new payor-focused product concepts, from ideation through launch. This individual contributor role identifies unmet market needs, develops and refines new product concepts, and leads the work required to evaluate, shape, and bring those concepts to market. The role partners closely with Enterprise and Aetna strategy teams, product development, product strategic partnerships, DDAT, and other shared service partners to translate ideas into launch-ready solutions. This role owns innovation from concept through launch, with handoff to the appropriate long-term owner after market introduction rather than ongoing product management.

Key Responsibilities: Lead development of new product concepts from ideation through launch for payor-focused solutions and capabilities. Identify unmet needs, strategic opportunities, and concept areas aligned to enterprise and business priorities. Shape, pressure-test, and refine product concepts into well-defined opportunities with clear value propositions and launch pathways. Partner with Enterprise and Aetna strategy teams to ensure innovation priorities align to broader business strategy and market opportunity. Work closely with product development teams to support concept evaluation, development planning, implementation readiness, and launch execution. Collaborate with product strategic partnerships, DDAT, and other shared service partners based on the type of concept being developed, including areas such as unique networks and clinical solutions. Drive cross-functional coordination needed to move concepts from early exploration into launch-ready solutions. Define requirements, priorities, dependencies, and decision points needed to advance innovation efforts across teams. Support creation of business cases, concept materials, leadership presentations, and launch recommendations tied to new product ideas. Ensure clear transition and handoff of launched innovations to the appropriate long-term owner after market introduction.

Required Qualifications: 10+ years of experience in product strategy, product innovation, new product development, healthcare strategy, or related leadership roles. Strong experience in payor-focused products, healthcare solutions, or closely related market segments. Proven ability to lead new concepts from early ideation through launch. Experience working across strategy, product development, partnerships, data/technology, and shared service teams in a matrixed environment. Strong strategic thinking skills, with the ability to identify unmet needs and translate them into viable product concepts. Strong executive communication and presentation skills, including the ability to frame early-stage opportunities clearly and persuasively. Ability to influence without direct ownership and drive alignment across multiple teams with different responsibilities. Strong prioritization, organizational, and cross-functional leadership skills.

Success Profile: The strongest candidates for this role will bring: A future-oriented, concept-building mindset. Strong judgment in identifying which ideas are worth advancing. Comfort operating in ambiguity and shaping early-stage concepts into concrete opportunities. The ability to connect strategy, innovation, partnerships, and execution into a single path to launch. Strong cross-functional influence and orchestration skills. Executive-ready communication and the ability to make new ideas credible and actionable.

What Success Looks Like: New product concepts are more strategically grounded, better defined, and more actionable. Innovation efforts move with greater clarity from idea through launch readiness. Cross-functional teams have clearer priorities, roles, and decision points tied to innovation work. Leadership has stronger visibility into the pipeline of new concepts and their business relevance. Launched innovations transition more smoothly to long-term owners after market introduction.

Education: Bachelor's degree preferred/specialized training/relevant professional qualification.

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.

Great benefits for great people: We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families. This full-time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well-being of colleagues and their families. The benefits for this position include medical, dental, and vision coverage, paid time off, retirement savings options, wellness programs, and other resources, based on eligibility.