Product Manager

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for managing the end-to-end product life cycle, including conducting market research and competitor analyses, determining product pricing, developing short and long-term strategies, identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience, and adhering to the Product Risk Management policy. Job expectations may include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies.

This job is focused on product strategy development and management, and will include working closely with the Business Banking team as the vehicle lending subject matter expert to design strategic enhancements to our Business Advantage Auto Loan product.  

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Responsibilities:

• Identifies and creates comprehensive plans for product development and deployment, including supporting the creation of sales training programs and marketing materials to educate clients and internal teams on product capabilities
• Oversees a set of products and maintains financials, including managing the investment profile and profit and loss (P&L) activities, such as revenue and profit margins
• Provides information on product trends to sales and marketing teams leveraging knowledge of product functionality, marketplace trends, and the competitive landscape
• Identifies opportunities to streamline or enhance product offerings to fit client's existing and future needs and support continued growth and operational excellence
• Manages risk through implementing and monitoring effective controls in partnership with key support partners
• Partners with internal stakeholders to obtain meaningful insights about markets, clients, and competitors in order to develop products that solve client needs and ensure high adoption rates
• Key product management responsibilities: identify client needs, design and tailor concepts / products to meet dealer client needs, develop business cases, partner with cross-functional partners to socialize and build consensus on concepts (Technology, Sales, Marketing, Credit Strategy, Underwriting, Funding, Risk, Compliance, Legal, and Credit Risk), implement deliverables, manage risk, resolve problems.
• Present to leadership on various topics including program performance, P&L / pricing, initiatives, control environment.

Required Qualifications: 

• Prior product development / product management experience
• Client-centric with ability to balance client needs and business financials.  Familiarity with client engagement strategies including UX and CX concepts
• Proven out-of-box thinker. Strives to bring new thoughts and ideas to drive innovation and unique solutions.
• Exhibit a strong drive for results and success; convey a sense of urgency to achieve outcomes and exceed expectations; persists despite obstacles, setbacks and competing influences
• Strong communication skills (verbal and written).  Must be able to concisely summarize key observations, clearly articulate considerations, propose solutions
• Skilled in creating visually pleasing, executive level presentations in Microsoft PowerPoint that effectively “Tell the Story”
• Effective at working across multiple partner teams to execute initiatives and manage change. 
• Strong quantitative and qualitative analytical skills - including P&L management and business case development
• Self-motivated and proactively seeks to learn more on the competitive landscape, growth trends, and applicability to Vehicle Lending
• Proven self-starter with the ability to manage multiple priorities and deadlines efficiently
• Process oriented, looks for ways to continuously improve efficiency and reduce risk

Desired Qualifications:

• Experience with small business products
• Credit Underwriting experience
• Process Inventory knowledge and Control measurement experience
• Project / Initiative Management
• Product and Product Risk Management
• P&L and Pricing Management  

Skills:

• Attention to Detail
• Collaboration
• Oral Communications
• Presentation Skills
• Reporting
• Continuous Improvement
• Executive Presence
• Problem Solving
• Process Management
• Product Management
• Business Analytics
• Influence
• Innovative Thinking
• Market Analysis
• Strategic Thinking

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$102,000.00 - $145,100.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.