Company: Element Fleet
Location: Toronto, ON
Expected salary: $200000 – 225000 per year
Job date: Sun, 12 Jan 2025 00:25:20 GMT
Job description: Get started on an exciting career at Element!Element employees make a difference in the lives of others every day. We are re-defining the fleet management industry to be people first, then business – delivering on our promise of a superior client experience. This takes hard work and innovation, and we need more like-minded people on our team.Vice President, Core ProductsRole Overview:The VP of Core Products is a visionary role responsible for developing Element’s Core Product strategy. Element has established a highly capable business model meeting a vast range of client needs across the fleet management value stream. Maturing the current product suite while continuously bringing new core products and features to market is critical to sustaining our market leading position in fleet and mobility management. The VP will have a core product mandate to work collaboratively with our regional teams as we solution for our clients and leverage the best of our offerings. The VP will have accountability for the P&L and the end-to-end client journeys for the products in their portfolio. Performance will be directly tied to the overall value proposition, revenue, margin, customer wins and retention metrics.25% – Client Engagement & Journey Ownership
- Work with the SVP of Global Product to establish and maintain relationships with our Client Advisory Board and our Commercial teams to ensure a deep connection to our clients.
- Regularly engage with our clients and with the teams that are actively consuming our products and services (Procurement managers, Fleet managers, Branch Managers, Drivers, etc.) to see our products in action and to gather feedback.
- Establish the definitions of quality in terms of product completeness and product delivery to inform backlog prioritization and operational performance KPIs.
- Establish a feedback loop to ensure timely and reliable insights are funneled back into the product backlog and being effectively prioritized for action.
- Own and be accountable for the end-to-end client journey, defining and monitoring KPIs for each Core Product to ensure profitability, consistency and successful delivery to our clients
- Leverage first-hand knowledge of the diversity of client needs to build configurability into our products that can reduce bespoke customization while still meeting our clients where they need us to be.
25% – Core Product Strategy Ownership
- Develop and own the Core Product Strategy in collaboration with the SVP of Global Product and our Regional and Autofleet teams.
- Establish the go-to-market operating model for converting new ideas for features, products, joint ventures, into fully implemented value generating initiatives.
- Establish and actively maintain and socialize the product feature backlog ensuring the next best, highest value feature/product is prioritized to come to market.
- Actively mature the current product suite to take full advantage of the power of Element’s data and our deep telematics insights.
- Drive, in close partnership with our Operations and Autofleet teams, the constant evolution of our lived client journeys to digitize and reduce client effort in the delivery of our products, enhancing margins and NPS in parallel.
- Actively ingest and share market and competitive intelligence, leveraging internal customer insights / data (e.g., NPS) to identify innovative opportunities for new product development or improve existing products within target markets
20% – P&L Ownership and Profitability Roadmap
- Actively manage product P&L in close partnership with Finance and Operations:
- Conduct regular variance analysis on actual performance vs. forecast identifying root causes, assessing materiality, and raising pertinent findings to the appropriate stakeholders including the COO, CFO, the Operating Committee and CEO as required.
- Intimately understand the Revenue, contra-Revenue and cost attributed to each product
- Establish and deliver a margin appreciation roadmap that progressively improves product margins while not trading off client satisfaction and product value.
- Intimately understand product volume forecast, including active monitoring of leading indicators of unit sales and churn to drive action to mitigate potential headwinds or capitalize on tailwinds.
- Support the win rooms and pricing decisions by bringing a client profitability mindset to the table and actively working with the Commercial and Pricing teams to win margin accretive deals.
20% – Strategic Partnership / Vendor Management
- Support the SVP Global Product Strategy in the management of 3rd party relationships engaged in any component of the product creation and end-to-end product delivery. Working arm in arm with the Procurement and Strategic Alliances team:
- Support the forward planning to be in an advantageous position for all contract renewals
- Review the key business terms for all agreements and be a signatory on all contracts
- Support the establishment of supplier/partner scorecards and actively manage performance to ensure the highest level of performance from all key partners
- Support the corporate strategy to focus our partnerships on the strategic few to ensure we leverage the power of scale wherever possible.
- Protect the corporation from reputational and financial exposure by actively supporting the safeguards in place through our contracting process and collaborate with our legal team in working through challenges.
- Leverage 3rd party competition wherever possible to develop a system of healthy competition that drives positive client and cost outcomes for Element, including establishing actively managed market share reward models.
10% – Innovation Leadership
- Develop a high performing team of innovative, client-centric and product disciplined individuals. The product team is tasked with representing all stakeholders in the value creation and delivery process, rooted in creating client value, and balanced with our shareholder commitments, our operational feasibility, and our vision to be digital first leader.
- Develop and lead by example an inclusive culture that demands and rewards high performance, exceptional teamwork across the entire organization, and consistently deliver on the commitments made.
Supervision & InfluenceTotal size of organization: TBD (20+ H/C)Direct reports:
- Maintenance – TBD
- Collision – TBD
- Safety – TBD
- Subrogation – TBD
- Product Marketing Manager
- Product Strategy Lead
RequirementsEducation and Experience
- Bachelor’s degree in business, Finance, Economics or related field; Master’s degree or MBA preferred
- Minimum of 10 years of professional product related experience; experience in e-commerce, global logistics, Fleet management desirable
- Extensive knowledge of the leasing industry, fleet management, and/or transportation industry
- Six Sigma DMAIC certification/experience is desired
- Strong financial acumen with demonstrated ability to drive P&L growth through revenue and efficiency levers
- Demonstrated experience influencing C-suite decision makers to ensure optimal partnerships and product outcomes
- Experience negotiating contracts and managing 3rd party vendors ensuring terms result in common incentives for both parties while also ensuring 3rd party outputs are highly measurable and deliverables are tracked with high accountability desirable
- Appetite and willingness to travel as needed on a global scale to provide boots on the ground leadership and participation in delivering on the mandate.
- Office environment – in Toronto office 3 times each week (when not travelling)
Knowledge and Competencies
- Strong enterprise mindset, financial acumen, and customer centricity to navigate complexity and support the broader growth aspirations of the business, leverages strategic analysis of data to inform business decision making
- Demonstrated ability to transition between strategic and operational aspects to deliver on growth, driving innovation / change to improve the business model
- Demonstrated critical thinker that can offer innovative solutions to meet client needs and provide a consistent and superior customer experience
- Client, supplier and employee centricity with a passion for building long trusting relationships
- Strong understanding of current technologies to drive business strategies and objectives
- Seasoned change agent leader – ability to influence and partner cross-functionally within the organization and externally to drive effective product updates / changes, improve performance outcomes. Strong relationship management capabilities, highly customer focused
- Seasoned people leader with ability to recruit, retain, develop, discipline, and motivate a team
- Energetic, flexible, collaborative, and proactive; a seasoned team leader who can positively and productively impact both strategic and tactical financial and administration initiatives
- Exceptional written, oral, interpersonal, and presentation/communication skills and the ability to effectively interface with senior management, customers, and team members
- Strong process improvement skills and demonstrated ability to influence and optimize processes to drive, business synergies and productivity
- Excellent judgement and creative problem-solving skills including negotiation and conflict resolution skills
The hiring base salary range for this position is $200,000 – $225,000 annually. Actual compensation within this range will be dependent upon the individual’s knowledge, skills, experience, equity with other team members, and alignment with market data.What’s in it for You
- A culture of innovation, empowerment, decision-making, and accountability
- Comprehensive health and welfare benefits that serve the needs of you and your family and foster a culture of wellness
- Additional benefits and amenities, including paid time-off programs (vacation, sick leave, and holidays)
Applicants will be required to undergo a background check only if and after a conditional offer of employment has been extended.Element Fleet Management and its wholly owned subsidiaries are an equal opportunity employer committed to diversity, equity, inclusion, and belonging. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, gender identity, age, sex, sexual orientation, disability, national origin, Aboriginal/Native American status, protected veterans’ status or any other legally-protected factors. Disability-related accommodations during the application and interview process are available upon request. Should you require an accommodation with our hiring process please send an email to or call (800) 665-9744.
Element is looking for a Vice President, Core Products to develop their product strategy, engage with clients, own the P&L, manage partnerships, and lead innovation. The role requires a Bachelor’s degree, 10 years of product-related experience, and knowledge of industries like e-commerce and fleet management. The VP must have financial acumen, negotiation skills, and the ability to influence decision makers. The base salary range is $200,000 – $225,000 annually with benefits. Element is an equal opportunity employer committed to diversity and inclusion.
