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 developing short and long-term product management plans. Key responsibilities include conducting market research and competitor analyses, determining product pricing, developing short and long-term strategies, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer. Job expectations include leading the management and development of products and ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies. You will be a part of the Product Innovation Team which is responsible for developing and delivering customer-centric strategies and innovative solutions that meet our customers’ current and emerging financial needs with the goal of driving significant increases to customer engagement, growth, and revenue. The team is accountable for leveraging customer insights and competitive intelligence to understand customer needs and then developing solutions that meet those needs across the bank’s Retail, Preferred, Business, and Wealth segments. This Senior Product Manager role reports to the Head of Product Innovation and will be responsible for leading new customer-centric innovation initiatives end-to-end, starting with insights and ideation and ending with launching the product or feature into market and transitioning ongoing product management to key stakeholders. It will involve collaborating closely with our business partners as a subject matter expert on innovation, developing and refining strategic concepts focused on specific client segments and audiences.
Responsibilities
- Lead customer-centric innovation initiatives end-to-end and develop solutions tailored to meet client needs and differentiate the Bank of America brand in the marketplace
- Facilitate exploration and ideation workshops for new concepts with diverse stakeholders across lines of business focused on customer segments, their needs, core product offerings and features to meet those needs
- Leverage customer insights and competitive intelligence as inputs to the innovation process to organize, size, and prioritize opportunities by segment and audience
- Partner with lines of business to develop new products and features, marketing approaches and digital experience enhancements for target segments
- Formalize ideas and service concepts into compelling, profitable, and differentiated value propositions, to include measuring benefits and value for customers, completing competitive benchmarking, creating the strategic rationale and financial business case for delivering the new product or feature, developing a go-to-market strategy, etc.
- Measure customer demand and better understand current and emerging client needs by creating and executing tests to deliver learnings and results in various environments
- 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
- Identifies opportunities to 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
- Develops and influences product strategy, driving products to provide comprehensive solutions across the bank
Requirements
- 7+ years delivering results in financial services, fintech, direct to consumer marketing, or management consulting
- Working with Data to tell a story
- Advanced Excel experience
- Advanced PowerPoint experience
- Outstanding communication and presentation skills (both verbal and written), able to concisely summarize key observations, clearly articulate considerations, and propose solutions and next steps
- Strong ability to collaborate and engage across functions and business lines and build strong working relationships with business partners at all levels of management – be someone others want to work with able to influence decision-making
- Exhibits a drive for results and success, demonstrates a sense of urgency to achieve outcomes, and routinely exceeds expectations
- Passion for emerging technologies, broad industry awareness, and keen ability to think big and imagine creative new products and features that can help consumers in their everyday digital financial lives
Nice-to-haves
- Experience leading ideation working sessions as part of an innovation process and an understanding of digital / product touch points in consumer finance with a broad knowledge of digital best practices and strategies in the industry a plus
- Project management experience
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
