Vehicle Lending Product Manager

Bank of America•New York, NY

1d•$103,500 - $150,100•Onsite

About The Position

At Bank of America, the Vehicle Lending Product Manager manages the end-to-end product life cycle, including market research and competitor analysis, reporting, short- and long-term strategy development, product modernization, customer experience improvements, and adherence to Product Risk Management policy. The role integrates product management with sales, marketing, operations, implementation, and customer service strategies. The position manages aspects of vehicle lending strategic alliance programs and relationships, with a focus on customer experience, cash and back-office operations, escalations, and initiative management. The Product Manager partners directly with the client and key vendors and leads through effective internal and external engagement. The role also oversees product development and deployment plans, product financials and P&L activities, product trends, risk controls, and opportunities to enhance product offerings.

Requirements

Ability to manage relationships with a critical third-party client through daily interactions and with third-party vendors through frequent interactions.
Ability to support internal stakeholders in strategy and operational program development, influence others, collaborate, complete efforts effectively, and maintain timelines.
Auto lending knowledge covering application, origination, and servicing.
Experience developing client-driven strategies and implementing solutions at the enterprise level.
Strong communication skills, including the ability to tell the story effectively.
Focus on risk management and ensuring the control environment supports the program and its growth.
Strong financial acumen, including assessing risk versus reward and building business cases to drive change.
Ability to handle ambiguity, remain flexible, and adapt to changing circumstances.
Ability to motivate others positively and build relationships.
Strong Excel, PowerPoint, and M365 Copilot skills.

Nice To Haves

Project or initiative management experience.
Product and product risk management experience.
Auto finance industry experience.
Process Inventory knowledge and control measurement experience.
P&L and pricing management experience.

Responsibilities

Manage and support the Bank’s engagement with Lucid Motors, including escalated transactions, manufacturer buybacks, customer experience, and program process improvements.
Engage with Lucid, internal partners, and third-party servicers to support customer experience initiatives, governance, transaction flows, system and process changes, partner communications, and status reporting.
Drive process improvement initiatives while balancing the needs and timelines of the client, the Bank, and third parties.
Resolve transaction-level issues from origination impacts through customer complaints and escalations in partnership with internal teams, Lucid, and the third-party servicing vendor.
Work directly with technology and servicing vendors to support the program and drive initiatives and changes.
Ensure Lucid’s program marketing, terms, and disclosures are accurately displayed and reviewed by internal partners for each new marketing campaign.
Collaborate with Product teammates to support customer issues, process improvements, initiatives, and change or risk management.
Lead product controls, metrics, and procedures within the Single Process Inventory (SPI) structure, supporting a strong risk framework.
Analyze internal program governance, including risk and reward, business cases, originations, portfolio performance, and forecasting.
Present to leadership on customer experience, marketing, program performance, initiatives, change management, and the control environment.
Create comprehensive product development and deployment plans, including sales training programs and marketing materials for clients and internal teams.
Oversee products and financials, including investment profiles and profit-and-loss activities such as revenue and profit margins.
Provide product trend information to sales and marketing teams using knowledge of product functionality, marketplace trends, and the competitive landscape.
Identify opportunities to streamline or enhance offerings for clients’ current and future needs and to support growth and operational excellence.
Manage risk by implementing and monitoring effective controls in partnership with key support partners.
Partner with internal stakeholders to gather insights about markets, clients, and competitors and develop products that address client needs and support adoption.