Vice President, Product

LGM Financial Services Inc.; Coquitlam; On-site; CAD 160,000 - 195,000; Full time

Job summary

An established industry player seeks a visionary Vice President of Product to oversee the entire product lifecycle in the automotive warranty and insurance sector. This pivotal role requires a strategic leader with a deep understanding of the insurance industry, capable of driving product innovation and market competitiveness. You will lead a dynamic team, collaborate with cross-functional experts, and develop competitive products that meet the evolving needs of customers. If you thrive on innovation and strategic growth, this is your opportunity to shape the future of the automotive insurance industry while enjoying a supportive work environment and comprehensive benefits.

Benefits

Group RRSP

Performance Bonus

Health and Wellness Benefit

Education Sponsorship

Four Paid Days for Community Service

Birthday Off

Vehicle Rebate Program (up to $400 per month)

Qualifications

• Proven success in product management within insurance and financial services.
• Strong leadership and team-building abilities with a strategic mindset.

Responsibilities

• Lead product strategy for warranty and insurance products to drive growth.
• Collaborate with cross-functional teams for seamless product development.
• Manage the product lifecycle, ensuring regulatory compliance and innovation.

Skills

Product Management

Strategic Leadership

Underwriting

Claims Management

Digital Transformation

Project Management

Communication Skills

Education

University Degree (MBA, Marketing, Commerce, or Design)

10+ years’ experience in product development

Chartered Insurance Professional (CIP) designation

Job description

LGM is a national leader in providing warranty, finance, and insurance services to the Canadian automotive industry. Since 1998, LGM has been successfully supplying quality products to Canadian dealerships. Dealer partnerships are complemented with the strong backing and support of their automotive manufacturing brands, which include BMW / MINI, Kia, Mazda, Volvo, Jaguar, Land Rover, Range Rover, Mitsubishi Motors, Polestar and Motorrad.

Position: Vice President, Product

The Vice President, Product (VP, Product) is a product visionary responsible for overseeing the entire product lifecycle—from ideation to execution—driving product growth, customer satisfaction, and market competitiveness. Your strategic insights will shape data-driven decision-making and leverage our cutting-edge technical capabilities to enhance our product offerings.

This role requires a deep understanding of the warranty / insurance industry, including underwriting, claims, distribution, and regulatory compliance. The VP, Product will collaborate with cross-functional teams, including sales, legal, finance, actuarial, marketing, technology, and our insurance partners, to develop highly competitive products that meet the evolving needs of our customers (OEMs, Dealers, and Consumers) while positively contributing to LGM’s strategic growth goals.

The VP, Product leads a team of product managers, fostering a culture of innovation, service excellence, and rigorous execution to deliver successful product releases. This is a pivotal role in driving LGM’s strategic vision.

The VP, Product provides profitable product innovation and market strategies essential for advancing LGM’s strategic goals. In response to the company’s continued growth, transformation, and success, the VP will engage in multi-directional dialogue with OEMs, insurance partners, and the market to lead the management, development, and enhancement of existing and new product lines. The role ensures that product managers / specialists effectively collaborate across functions (marketing, sales, operations, external stakeholders) to achieve rapid product releases.

The Work:

1. Lead and define the product strategy for warranty and insurance products (60+ product variations), ensuring alignment with business objectives, regulatory compliance, and market demands.
2. Oversee the entire product lifecycle, from ideation and development to execution, delivering innovative products that drive business growth and meet customer needs.
3. Spearhead new product development and optimize existing offerings.
4. Establish and communicate product strategies throughout the organization and with key partners.
5. Support pricing strategies and competitive positioning for products.
6. Lead product development and go-to-market initiatives to drive revenue growth, market competitiveness, and customer satisfaction.
7. Foster a culture of innovation and excellence, managing and mentoring a high-performing team of 5-10 product managers.

Cross-functional Collaboration & Stakeholder Engagement

1. Collaborate with sales performance, legal, finance, actuarial, marketing, technology, and CX / Claims to ensure seamless product development and rapid releases.
2. Maintain strong relationships with external stakeholders, such as insurance partners, OEMs, dealers, and industry experts, to gather insights and guide product development.
3. Engage with internal and external stakeholders to align products with market trends, customer expectations, and regulatory compliance.
4. Work closely with the project management office to coordinate and prioritize product releases.
5. Analyze market trends, customer insights, and competitive intelligence to inform product decisions.
6. Gather and analyze data on industry trends, OEMs, Dealers, and consumers to ensure sales enablement and product-market fit.
7. Continuously evaluate the market, consumer needs, and emerging trends.

Product Lifecycle Management & Process Improvement

1. Manage the product lifecycle from concept to phase-out.
2. Implement processes, policies, and standards for product lifecycle management.
3. Ensure regulatory compliance and risk management across all products.
4. Utilize project management practices to ensure successful launches of new products.

Team Development & Performance Metrics

1. Develop key performance indicators (KPIs) to measure product success.
2. Lead, mentor, and build a high-engagement team, fostering a culture of innovation, excellence, and customer satisfaction.

Financial & Budget Management

1. Develop and manage operating budgets related to product management, ensuring alignment with strategic goals.
2. Obtain “Voice of the Consumer” insights and provide executive leadership with updates on emerging trends.
3. Meet regularly with OEMs, dealers, and insurance providers to understand market needs and drive product innovation.

Self-Management: Politically astute and capable of navigating diverse emotional and social environments.

Results Focused: Uses industry insights and past performance to drive business objectives.

Effective Communicator: Expert facilitator of group discussions, building consensus to drive action.

Empowers and Coaches Others: Adjusts leadership approach as needed, coaching other leaders.

Collaboration and Influence: Works effectively with and influences key stakeholders.

Builds Teams: Develops high-performing teams and future leaders.

Innovation and Change Leadership: Champions innovation and leads change across the organization.

Strategic Orientation: Uses planning methods to assess opportunities and execute strategies.

Required Skills & Experience:

1. Proven track record of success in product management and strategy within the insurance and financial services industry.
2. Expertise in underwriting, claims, distribution, regulatory compliance, and digital transformation within insurance.
3. A strategic leader with a background in launching and scaling successful insurance products.
4. Experienced in managing multiple high-priority projects with a strong background in project management.
5. Strong leadership, coaching, and team-building abilities.
6. Proficiency in using technology to innovate products.
7. Excellent communication skills, both written and verbal.

Education & Experience:

1. University degree (preferably MBA, Marketing, Commerce, or Design).
2. 10+ years’ experience in product development, risk, and underwriting.
3. 5+ years as a senior leader.
4. 5+ years’ experience in insurance and / or financial industry (automotive industry is an asset).
5. Chartered Insurance Professional (CIP) designation or comparable insurance licensing.

Compensation & Benefits:

1. Salary Range: $160,000 - $195,000
2. Group RRSP
3. Performance bonus
4. Health and wellness benefit
5. Education sponsorship
6. Four paid days for community service
7. Birthday off
8. Vehicle rebate program (up to $400 per month)

Hybrid role

If you are a visionary leader who thrives on innovation, collaboration, and driving strategic growth, we invite you to apply for the Vice President, Product role at LGM.

Join us in shaping the future of the automotive insurance and warranty industry!