Product Manager - Credit Pricing

Bank of America•Pennington, AL

1d•$112,000 - $192,500•Onsite

About The Position

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 Product Manager role for GWIM Credit Pricing is responsible for the operational pricing aspects of the platform. The Product Manager is the subject matter expert on all pricing related policies and processes and provides strategic support and guidance to LOB leadership and field management in determining appropriate pricing for GWIM Securities Based Lending (SBL) products – Merrill - (Loan Management Account (LMA), Margin, International Securities Based Lending and Private Bank - Private Client Line (PCL). The Product Manager will be accountable for developing pricing strategies, partnering with product and platform leaders on the execution of those strategies, reviewing and decisioning pricing requests from sales teams, and using data analytics to enhance pricing effectiveness across the platform. “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”

Requirements

5+ years of experience in Financial Services, Wealth Management, Banking, Lending, or related financial products
Demonstrated understanding of the Global Wealth & Investment Management (GWIM) business model, including advisor-led client engagement, field organization dynamics, and wealth management client service delivery
Familiarity and understanding of securities-based lending products
Strong verbal and written communication skills, with the ability to build relationships, influence partners and adapt messaging for technical and non-technical audiences
Strong analytical and problem-solving skills
Proven organizational and time-management skills
Proficiency in Excel, PowerPoint, and Word

Nice To Haves

Bachelor’s Degree
Experience developing and testing system enhancements and improvements
Attention to Detail
Collaboration
Oral Communications
Presentation Skills
Reporting
Continuous Improvement
Executive Presence
Problem Solving
Process Management
Product Management
Business Analytics
Influence
Innovative Thinking
Market Analysis
Strategic Thinking

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
Create and maintain exception pricing policies for Margin, LMA, ISBL & PCL
Review and decision Margin, LMA, ISBL & PCL pricing discount requests
Provide subject matter expertise and guidance in response to pricing inquiries from branch office associates and stakeholders to ensure compliance adherence and profitability
Coordinate and manage daily reports for compliance and accuracy