Innovation Strategy Lead
Remote, with a requirement to reside within 30 miles of one of the following locations: Portland, ME; Boston, MA; Chicago, IL; Washington, DC; Dallas, TX; or San Jose, CA.
About the Role
It's a really exciting time to be part of the WEX Digital Team - we're growing our team in order to support our internal product innovation efforts. You'll be in the thick of the action, partnering with cross-functional team members to identify & develop new product opportunities that align with market demands and business objectives. From general analysis to deep dives on emerging market trends, your work will have an immediate impact on our innovation product roadmap. We are looking for team members who are excited by discovery and want to contribute to building out a nimble, dynamic, and innovative digital organization.
We hire people who share our passion for continuous innovation and client service that is unparalleled in the industry. The ideal candidate will have a willingness to roll-up their sleeves and approach problems with a "can-do" attitude. Frequently, our team is tasked with structuring/solving ambiguous questions for various commercial, product, and technology partners, and therefore we are looking to add a motivated, resourceful team member that can iterate quickly/have a big impact on our product innovation efforts. Consider applying for this role if you do well in startup environments, but want the scale/reach of a large, established public company.
As the Innovation Strategy Lead, you will serve as a trusted member of our matrixed Digital team, reporting into our Digital Strategy, Innovation, and AI function. You'll be developing and applying your analytical, interpersonal, and business management skills from day one at a very exciting time for WEX as we aim to build a deeper understanding of our customers' needs, driving revenue growth and competitive advantage in our markets.
How You'll Make an Impact
Strategy & Research:
Conduct in-depth market analysis to identify emerging trends and unmet customer needs.
Perform competitive analysis to uncover gaps in the market that align with the company's strategic objectives.
Utilize industry insights and customer research to pinpoint opportunities for new product development.
Perform market sizing estimates to prioritize product innovation opportunities.
Assess innovation product-market fit through focus groups, surveys, and user testing.
Continuously monitor market and consumer trends to refine innovation strategies.
Gather and analyze feedback from testing phases to inform product refinements alongside product managers.
Develop business cases and feasibility studies to evaluate the potential success of new product concepts.
Collaboration & Communication:
Collaborate with cross-functional teams to conceptualize innovative product ideas.
Collaborate with product design and engineering teams to ensure prototype alignment with WEX's strategic goals.
Facilitate meetings and workshops to align teams on product innovation, vision, and strategy.
Foster a culture of innovation and collaboration across departments.
Present research findings, product innovation strategies, and progress updates to senior leadership team members.
Develop clear and compelling presentations and reports that articulate the business value of new product initiatives.
Ensure that all stakeholders are informed and engaged throughout the innovation research lifecycle.
Innovation Advocacy:
Be a leading change agent for the company, building our culture and promoting all the fun aspects of Innovation at WEX.
Promote the value of new product development internally in support of WEX's revenue growth goals.
Lead training sessions and knowledge-sharing initiatives to build internal capabilities in innovation and strategic thinking.
Encourage a forward-thinking mindset by sharing industry trends and insights that could impact future product strategies.
Experience You'll Bring
3-5 years of experience in innovation strategy, product development, or similar roles focused on driving revenue growth.
Strong background in market research and competitive analysis, with the ability to identify and capitalize on emerging trends.
Deep understanding of industry trends and best practices in innovation, product development, and strategic growth.
Experience in conducting data-driven analysis and using insights to guide product development and business decisions.
Hands-on experience with customer research methodologies, including focus groups, surveys, and user testing.
Expertise in researching new product ideas through iterative development cycles.
Ability to develop compelling business cases and feasibility studies for new product initiatives.
Track record of successful cross-functional collaboration, particularly with product development, marketing, sales, and engineering teams.
Excellent communication and presentation skills, with experience presenting to senior leadership and key stakeholders.
Strong project management skills, with the ability to manage multiple initiatives simultaneously and deliver on tight deadlines.
Experience in driving organizational change and fostering a culture of innovation.
Demonstrated success in developing and executing product strategies that have led to successful product launches/commercialization.
Strong team player who's also an independent thinker.
Financial acumen.
Nice to have:
Experience in a consulting environment, particularly in a role focused on innovation or product strategy.
Background in our industries (i.e., mobility, corporate payments, and/or benefits).
Experience with agile or lean product development methodologies.
Ability to flex and pivot responsibilities to support our growing organization.
The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role. Base pay is one component of WEX's total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX's comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more.
Pay Range: $115,000.00 - $153,000.00
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