About the position
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! 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. The Deposit Fee Refunds/Waivers Product Manager has strategy management responsibility for the fee refunds/waivers process across Deposit products, and will identify enhancement opportunities, drive new capabilities, and develop control measures needed to support our refund and waiver strategies. This role will work closely with partners across several areas to advance projects, programs, and address issues.
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.
- Develop strategy guidelines to support Deposit products fee refunds/waivers.
- Ensure effective execution of the strategy across channels.
- Enhance controls and monitoring of strategy performance.
- Collaborate with channel partners to develop associate readiness.
- Advance platform capabilities (Fee Decision Tool and Waiver Decision Tool).
- Explore High Tech solutions to support strategy (Digital, ERICA).
- Work with Finance to develop business cases and assess impact of strategy.
- Monitor client feedback and drive best in class client experience.
Requirements
- Detail-oriented, highly organized, adaptable to ever-changing requirements.
- Understanding of Consumer & Small Business products, channels, and financial performance measures/drivers.
- Proven self-starter with the ability to manage multiple priorities and deadlines efficiently.
- Ability to identify key successes and opportunities, and deliver recommendations based on findings.
- Strong communication skills (verbal and written). Must be able to concisely summarize key observations, clearly articulate considerations, propose solutions.
- Proven out-of-box thinker. Strives to bring new thoughts and ideas to drive innovation and unique solutions.
- Process oriented, looks for ways to continuously improve efficiency and reduce risk.
- Ability to navigate the organization, build strong partnerships, and influence across the organization to drive key results.
Nice-to-haves
- Project / Initiative Management Experience with Interact and/or Synergy.
- Strong analytics skills, ability to work with large sets of complex data, understand and extrapolate key insights, via Excel and PowerPoint.
- Skilled in creating visually pleasing, executive level presentations in Microsoft PowerPoint that effectively 'Tell the Story'.
Benefits
- Industry-leading benefits.
- Access to paid time off.
- Resources and support to employees.
- Commitment to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure.
