Principal, Innovation Measurement & Modeling

Posted Date: Nov-12-2021

Job ID: 21838

Job Type: Full Time

Job Function: eCommerce / Online

City: Seattle

State: Washington

Store: Seattle HQ

Remote Eligible: Yes

Please visit the Covid-19 Hiring Updates before applying

What's cool about this job

REI is committed to becoming a fully inclusive, antiracist, multicultural organization. To fulfill our brand promise of enabling a life well-lived outside for everyone, we are seeking candidates who demonstrate shared values of diversity, equity, inclusion, and antiracism. 

Underpinning the success of organizations that successfully and repeatably innovate is a maturity of both metrics and measurement that enables learnings. This role will help drive the crucial up-front work to define not only the relationship between test plan and relevant metrics, but also determining success thresholds for each. The work led by the successful candidate will drive learnings that are captured, codified, digestible, and ultimately actionable – ensuring the proposed methodology and execution of the tests allow for key variables to be isolated and measured. 

The Principal for Innovation Measurement & Modeling is someone who exhibits range across the quantitative fields. They are equally comfortable running regression analysis as they are building pro forma P&Ls. Their experience within corporate innovation functions, in which knowledge is light and assumptions are many, have taught them how to effectively work with product teams to ensure the proposed tests are focused on the right KPIs/OKRs. They have a deep understanding of the litany of metrics to be evaluated on the road to product-market fit and know what good looks like for each. 

They are systems thinkers whose strategic acumen allows them to break down hypothesis to be tested, metrics that matter most, and salient success thresholds against each. They will have built dynamic models to evaluate new product offerings, features, or businesses in order to optimize key customer and business outcomes. They are comfortable calibrating models against actual results and conducting scenario/sensitivity analyses to drive strategic changes to the new business structure. Their financial acumen allows them to develop annual and at scale P&L forecasts as new concepts move from test & learn to scale. 

They are great communicators and are adept at simplifying complex quantitative terms or data sets and distilling them into key findings, actions, or decision to be taken. They will have created and presented compelling reviews summarizing performance of in-markets tests and pilots, business cases, and learnings for senior executives. 

  • Partner with Principal Product Mangers to identify and define the key variables to be tested, salient KPIs and OKRs, and associated success thresholds, leveraging both internal and external benchmarking 
  • Review initial hypotheses and test methodology to ensure alignment between tests and measurement 
  • Proactively identify and recommend how to address areas of potential bias or noise from the data to be gathered in the proposed test & learn plans
  • Introduce new metrics based on industry advances and best practices within the innovation space 
  • Support test & learn with market research and industry landscaping to develop a research-backed potential size of opportunity (TAM/TAP) for new business opportunities to test & learn 
  • Conduct scenario planning and sensitivity analysis of key business drivers to be tested and de-risked for scale 
  • Develop economic models, including key P&L business variables and unit economics of new business opportunities, updating variables and actuals to reflect new learnings and data 
  • Work cross functionally with REI teams and Customer Innovation to drive towards agreed upon definitions and formulas for test & learn metrics 
  • Support the development of the system and tool(s) to enable regular operational reviews by both individual product discovery teams and the overall innovation portfolio to ensure the data and learnings are captured, codified, actionable/digestible, and accessible to all relevant stakeholders

Bring your passion and expertise

Professional Qualifications and Experience 

  • 10+ years’ experience in roles in the disciplines of business analytics, finance, performance management, and/or strategy development and planning 
  • Minimum 7 years experience in retail/consumer industry; Preferably 5+ years of experience within corporate innovation functions 
  • BS or BA in a related field (statistics, business, economics); Masters preferred 
  • Fluency with statistical analysis and financial modeling (regression, breakpoint analysis, unit economics) 
  • Experience directly supporting new business or product discovery teams, having advised on how to optimize for key outcomes (e.g., LTV, revenue, gross margin)
  • Knowledge of commonly used testing methodologies, such as design thinking, rapid prototyping, product discovery, lean start up and multivariate testing 
  • Ability to simplify the complex, breaking down non-linear test & learn activities into “if then” nodes and pivots guided by explicit logic and quantitative/qualitative data
  • Experience in performance management and portfolio management 
  • Excellent written and verbal communication skills, with the ability to synthesize and distill key learnings from multiple data sets and information 
  • Track record of successfully partnering and collaborating across business and functional areas, consolidating information from various sources including feedback from others to reach sound decisions

REI hires, trains, and promotes regardless of race, religion, color, national origin, sex, disability, age, veteran status, and other protected status as required by applicable law.  We remain deeply committed to making the Co-op a place where everyone can feel safe and be themselves. Join us. 

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At REI we offer an enviable work environment that Fortune Magazine has recognized on the "100 Best Places to Work" list since the award's inception – 23 years in a row! Sure, we work hard, but it’s balanced with time off to play—a strategy that works for us as we continue to grow and thrive. Want to enjoy a workplace where you can be yourself, be heard and be respected while having a job that challenges you? This is the place.

With more than 160 retail locations (and growing), REI offers unique competitive benefits to its more than 15,000 employees, including healthcare, gear and apparel discounts, free equipment rentals and challenge grants to help employees reach personal outdoor goals, generous retirement plan contributions, public transit subsidy, adoptions assistance, paid sabbaticals, and more.

REI is an Equal Opportunity Employer

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