Sr Product Mgr - Consumer Lending

Bank of America•Boston, MA

2d•$116,600 - $174,300•Hybrid

About The Position

This job is responsible for developing and managing the end-to-end product life cycle for highly complex products. 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 experience. Job expectations include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies. The Home Loans Product team is responsible for the end-to-end product management of mortgage and Home Equity solutions across all channels at Bank of America. We are looking for a versatile professional with credit card and direct to consumer marketing experience who can adapt quickly and drive innovation from their past experiences in a changing business environment to work in Home Equity Line of Credit. This role will require strong partnership development skills, fostering positive working relationships with other Front Line Units such as Digital, Sales, Marketing, Fulfillment, and Servicing, as well as Second Line Units such as Risk, Legal and Compliance. In addition, this role will have accountability over the client experience, including satisfaction levels, complaint themes and understanding partner resolutions for issues, risks and escalations. 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

Requirements

5+ years’ experience working in Product management
Product management experience across consumer lending (e.g. Credit Card, HELOC, Mortgage, Auto)
Proven self-starter with the ability to manage multiple priorities and deadlines efficiently
Outstanding analytical and process skills
Strong verbal and nonverbal (PowerPoint) communication skills, ability to influence and gain commitment at all organizational levels
Adaptable business professional
Strategic direct to consumer marketing skills
Proven ability to develop, design and deploy complex initiatives (deploying across multiple channels, impacting multiple audiences), including development of compelling cases for change/business justifications
Ability to collaborate, manage, and expand relationships across the organization
Strong understanding of Risk Framework, shows attention to detail and responds quickly and effectively to issue/risk identification and mitigation
Excellent oral, written, and presentation communication skills

Nice To Haves

Financial services experience

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
Develops and influences product strategy, driving products to provide comprehensive solutions across the bank
Leverages subject matter expertise to develop strategies, resolve issues, create business cases and drive portfolio growth
Establishes opportunities to positively impact the product P&L and deploy initiatives that improve the appeal and competitiveness of the solution(s)
Partners with Marketing Integration and Client Experience managers to form and execute holistic growth strategies
Develops deep understanding of Home Equity competitive landscape, marketing trends, and consumer behaviors to drive change