Senior Product Manager

Job Description:

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!

Job Description:
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.

This is an important role within the Vehicle Lending organization, leading development of strategic growth initiatives for Dealer and RV products, from idea creation through deployment, utilizing all aspects of product management. This role will work closely with the National Dealer Sales Team as the product subject matter expert representing the line of business externally.

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.

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
• Represent the Product organization at industry events, dealer roundtables, and client meetings. 
• Key product management responsibilities: identify client needs, design and tailor concepts / products to meet dealer client needs, develop business cases, partner internally with cross-functional partners to socialize and build consensus on concepts (Technology, Sales, Credit Strategy, Underwriting, Funding, Risk, Compliance, Legal, and Credit Risk), implement deliverables, manage risk, resolve problems.
• Work with third party vendors (dealer systems, technology) to support program and drive initiatives and changes.
• Present to leadership on various topics including program performance, P&L / pricing, initiatives, control environment.

Required Qualifications: 

• Automotive financing industry knowledge from application, origination and servicing
• Experience navigating and leading a relationship with a third-party client as the primary point of contact
• Ability to navigate numerous partner relationships and stakeholders in strategy and operational program development, with ability to influence others
• Exhibit a strong drive for results and success; convey a sense of urgency to achieve outcomes and exceed expectations; persists despite obstacles, setbacks and competing influences
• Experience developing client driven strategies and implementing solutions at the enterprise level
• Outstanding communication and presentation skills (verbal and written).  Must be able to concisely summarize key observations, clearly articulate considerations, propose solutions
• Skilled in creating visually pleasing, executive level presentations in Microsoft PowerPoint that effectively “Tell the Story”
• Focus on risk management and ensuring control environment supports the program and its growth
• Lead and influence teammates who support the program and its initiatives, working effectively with manager
• Experience developing partnerships and influencing others.
• Strong financial acumen with ability to determine risk vs. reward; ability to build business cases to help drive change
• Ability to handle ambiguity, be flexible and adapt to changing circumstances
• Positively motivates others and successfully builds relationships
• Collaborative, able to bring teams together to achieve goals
• Strong Excel and PowerPoint skills
• Focus on risk management and ensuring control environment supports the program and its growth

Desired Qualifications:

• Experience with Auto Industry / Dealers
• Credit Underwriting experience
• Process Inventory knowledge and Control measurement experience
• Project / Initiative Management
• Product and Product Risk Management
• P&L and Pricing Management  

Skills:

• Collaboration
• Executive Presence
• Oral Communications
• Presentation Skills
• Problem Solving
• Attention to Detail
• Continuous Improvement
• Influence
• Product Management
• Strategic Thinking
• Business Analytics
• Innovative Thinking
• Market Analysis
• Process Management
• Reporting

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$113,000.00 - $165,100.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.