Head of Small Business Deposit Products

Bank of America•Charlotte, NC

8d•Onsite

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 and sponsoring short and long- term product management plans, including cross functional strategies. Key responsibilities include leading product management teams, oversight of market research and competitor analysis, product pricing, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience. Job expectations include comprehensive strategic planning and ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies. Lead strategy, P&L performance, and end‑to‑end product management for Bank of America’s Small Business deposit, debit and payments portfolio. This executive will own one of the bank’s most critical business relationships, responsible for driving growth in primary banking relationships, balances, engagement, and long‑term customer value.

Requirements

Demonstrated strategic planning/product management skills
Strong analytical skills with breadth of view
Solid negotiation skills
People and project management skills and abilities
10+ years of relevant experience with demonstrated understanding of deposit/payment products
Experience partnering with key stakeholders including digital, marketing, technology, and sales to drive positive business results
Prior experience supporting business/commercial products a plus

Nice To Haves

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

Responsibilities

Own the end‑to‑end strategy, financial performance, and execution of the small business deposit portfolio (deposits, payments, and services), including product features, value proposition, and lifecycle management.
Drive sustainable growth in primary deposit relationships, balances, revenue, and profitability, while balancing client value and risk considerations.
Lead deposit acquisition strategy across digital, financial centers, and partner channels, optimizing volume, mix, and quality of new accounts.
Define compelling, differentiated deposit value propositions across client segments
Lead simplification and modernization of products, reducing complexity while improving transparency, engagement, and satisfaction.
Partner closely with Digital, Marketing, Technology and Experience Design to deliver seamless, intuitive, omnichannel experiences.
Partner with Marketing to design value propositions, offers, and campaigns tailored to priority segments.
Drive best-in-class digital account opening and onboarding, improving conversion, funding rates, and early engagement.
Lead and develop a team of product leaders and managers
Serve as a senior partner to Technology, Operations, Risk, Compliance, Legal, Finance, Marketing, Analytics, and Front Line organizations.
Ensure products are designed and managed in full compliance with regulatory, risk, and control standards
Establish clear KPIs across sales, engagement, balances, revenue, and customer outcomes.
Leverage advanced analytics and test‑and‑learn approaches to optimize features, and offers.
Use insights to continuously improve product performance and customer lifetime value.
Maintain deep awareness of market trends, fintech innovation, competitive offerings, and regulatory developments impacting business deposits and payments.
Represent Small Business Deposits and Payments in senior leadership forums and contribute to broader business banking strategy.
Owns a set of products and corresponding financials that may be more complex, including managing the investment profile and profit and loss (P&L) activities, such as revenue and profit margins
Develops long and short-term product strategy, driving products to provide comprehensive solutions across the bank
Manages 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
Delivers management experience and subject matters expertise
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
Instills a culture of continuous improvement and effective risk management
Breaks down barriers to create a more inclusive environment that supports company Great Place to Work goals.
Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
Efficiently allocates and manages resources across the organization to drive short and long term profitability.
Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.