Manager, Strategic Pricing

BMO•Toronto, ON

About The Position

This role is responsible for managing the pricing process, including scoping and specifying organizational information required for effective pricing. The Manager, Strategic Pricing will maintain the pricing framework and process, support administrative rate changes, address technical inquiries, and support the sales channel. This position involves synthesizing analysis and presenting recommendations to senior management to aid executives in making investment decisions. The role also identifies and oversees the design and execution of ongoing pricing programs aimed at enhancing pricing margins, leveraging competitive and systems capabilities insights, for both new and existing customers to support business objectives. The Manager will accumulate pricing knowledge to drive business insights, guide the setting and management of broker pricing policy, and manage spreads to optimize growth and profitability. This role works collaboratively with sales teams to set and adjust prices based on statistical models and customer psychology, analyzes competitor pricing, assesses market share and margins, and tracks customer engagement. The Manager will present analytical findings and recommendations to executives, marketing teams, and sales personnel to develop actionable strategies, tools, and techniques. The role also fosters a culture aligned with BMO's purpose, values, and strategy, ensuring alignment between values and behavior that fosters diversity and inclusion. It involves connecting work to BMO's purpose, setting inspirational goals, defining clear expected outcomes, and ensuring accountability. The Manager will build interdependent teams that collaborate across functional and operating groups. This role helps drive strategic thinking for the pricing of Home Financing products, assists with customer-level pricing, risk/reward optimization strategies, and the development of key capabilities to optimize profitability, delivering the desired customer experience and brand alignment. The Manager will manage the pricing process for complex pricing initiatives, develop strategic pricing recommendations for senior leadership, and manage pricing and profitability data, analytics, and reporting. The role requires anticipating and responding with pricing strategies and tactics appropriate for changing market conditions, customer expectations, and regulatory requirements, and achieving operational excellence through strategic and tactical pricing plans while managing risks.

Requirements

Typically between 6 - 8 years of relevant experience and post-secondary degree in Business or a related field of study or an equivalent combination of education and experience.
2 - 3 years of business experience - required.
Strong experience creating detailed pricing models - required.
Advanced knowledge of MS Excel and PowerPoint - required.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.

Nice To Haves

Strong analytical experience in management consulting, risk management, marketing analytics, or financial analysis - preferred.
Write queries using SQL, Power BI report building, working knowledge of other data management and report presentation tools -- preferred.

Responsibilities

Manage the pricing process, including scoping and specifying organizational information required for effective pricing.
Maintain pricing framework and process, support admin rate changes, address technical inquiries and support sales channel.
Synthesize analysis and present recommendations to senior management in an effective way to aid executives in making investment decisions.
Identify and oversee the design and execution of ongoing pricing programs designed to enhance pricing margin, leveraging competitive and systems capabilities insights, that are directed toward both new and existing customers to support the achievement of short- and long-term business objectives.
Accumulate pricing knowledge over time to drive increasingly valuable business insights.
Guide the setting and management of broker pricing policy for the product suite, including rate buy-down, discretion and exception management, in order to manage spreads and optimize growth and profitability in both the short and long term.
Works in collaboration with sales teams to set and adjust prices based on statistical models and customer psychology.
Analyzes competitor pricing, assesses market share and margins, and tracks customer engagement to gain a complete picture of effective pricing strategies for product offerings and determine ideal target prices.
Breaks down pricing structures and sales funnels of comparable competitor products and services to identify specific strategies used in developing pricing models.
Presents analytical findings and recommendations to executives, marketing teams, and sales personnel to develop actionable strategies, tools, and techniques that drive sales and enhance marketing efforts.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.
Ensures alignment between values and behavior that fosters diversity and inclusion.
Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
Help drive the strategic thinking for the pricing of Home Financing products and assist with the advancement of customer-level pricing, risk/reward optimization strategies and the development of key capabilities that will optimize the profitability of BMO home financing products, delivering the desired customer experience and brand alignment.
Managing the pricing process for the most complex and important pricing initiatives and developing strategic pricing recommendations to be presented to senior leadership.
Manage pricing and profitability related data pulling, analytics and reporting to support decision making, P&L optimization and risk management.
Anticipate and respond with pricing strategies and tactics appropriate for changing market conditions, customer expectations, and regulatory requirements.
Achieve operational excellence through the design and execution of strategic and tactical pricing plans that are aligned with the business objectives and by ensuring all significant risks have been identified, assessed and appropriately managed or mitigated.