Description

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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 developing and sponsoring 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.

Analytics and Performance Management

• Lead WM deposit competitor analysis including in depth quarterly earnings.
• Leverage advanced analytics to evaluate and improve overall WM deposit performance.
• Lead more detailed reporting on the WM deposit portfolio, including volumes, trends, pricing, products, outcomes, and key observations for senior management and partner stakeholders. Provide back-up support for weekly pricing strategy reporting also.

Support continuous improvement of WM deposit pricing processes,

opportunity pricing share-points, reporting, and governance practices.

• Monitor opportunity pricing activity, ensuring transparency, documentation completeness, and consistent process discipline.
• Ensure accurate data and timely updates, and ongoing operational continuity including trouble-shooting issues.
• Partner with consumer pricing partners to align processes, review and address risks

Market & Competitive Leadership

• Maintain deep awareness of market trends, fintech innovation, competitive offerings, and regulatory developments impacting GWIM deposits and pricing.
• Represent GWIM Deposits in senior leadership forums and contribute to broader banking strategy.

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.

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Responsibilities:

• Owns a set of products and corresponding financials, including managing the investment profile and profit and loss (P&L) activities, such as revenue and profit margins
• 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
• Develops long and short-term product strategy, driving products to provide comprehensive solutions across the bank
• Leads a team responsible for identification of plans for product development, supporting the creation of sales training programs, and marketing materials to educate clients and internal teams on product capabilities
• Instills a culture of continuous improvement and effective risk management

Required Qualifications:

• 10 to 15 years related experience w/ demonstrated understanding of deposit products and pricing strategy
• Demonstrated strategic planning/product management skills
• Strong analytical skills with breadth of view
• People and project management skills and abilities
• Experience partnering with key stakeholders including field leadership and client teams to drive positive business results
• Prior experience supporting wealth management deposit products and pricing a plus

Skills:

• Influence
• Innovative Thinking
• Oral Communications
• Product Management
• Strategy Planning and Development
• Business Development
• Executive Presence
• Relationship Building
• Strategic Thinking
• Business Analytics
• Client Experience Branding
• Collaboration
• Continuous Improvement
• Presentation Skills

Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140), US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$180,000.00 - $241,500.00 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.