Bank of America

Compensation

Full Description

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. The Business Deposits Product, Payments & Services Team is responsible for managing Business Deposit products including Checking, Savings, and CDs as well as Debit, Payments and Services for our Business Deposit clients. The team is accountable for driving sales, balances and engagement across the newly combined Business Banking segment. The Remote Deposit Online Senior Product Manager will report into the Business Debit, Payments & Services Team Manager. 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 Leads development and execution of Remote Deposit Online initiatives, including business case creation and socialization Manages third party servicing and fulfillment vendor relationship to ensure adherence to bank requirements and service standards Oversees inventory management and forecasting with vendor Collaborates with servicing partners to ensure delivery on product and client experience KPIs Required Qualifications: Vendor management experience Strategy development and implementation experience Project/initiative management experience Data assessment and interpretation experience Collaborative stakeholder management Fraud & Fraud strategy experience and/or Risk& Controls management Proficient communication skills – both written (MS PPT/Word) and verbal Strong time management and prioritization skills Desired Qualifications: Strong financial acumen with ability to determine risk vs. reward Knowledge of Business, Digital, Consumer Deposit and/or Payments products and channels Negotiation skills Skills: Collaboration Executive Presence Oral Communications Presentation Skills Problem Solving Attention to Detail Continuous Improvement Influence Product Management Strategic Thinking Analytical Thinking Innovative Thinking Market Analysis Process Management Reporting Shift: 1st shift (United States of America) Hours Per Week: 40 Pay Transparency details US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), 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. Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity. Getting started Regardless of the position you are interested in, the starting points to building your resume are the same: 1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications. 2. Think about why you can do the job and make a list of your skills that are relative to the job. 3. Identify experiences or accomplishments that show your proficiency in the skills required for the job. 4. Summarize your abilities, accomplishments and skills into a brief, concise document. Considerations when writing a resume • Do be brief. Resumes should be 1-2 pages in length. • Do be upbeat and active in your wording. • Do emphasize what you have done clearly and concretely. • Do be neat and well organized. • Do have others proofread and critique your resume. Spell check. Make it error free. • Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible. • Don't be dishonest, always tell the truth about yourself in the most flattering light. • Don't include salary history or requirements. • Don't include references. • Don't include accomplishments that do not support your professional goals. • Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.) • Don't use italics, underlining, shadows or other fancy treatments. Seven steps to a successful interview 1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview? 2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available? 3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight. 4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down. 5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks. 6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease. 7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage. Pay Transparency - https://careers.bankofamerica.com/en-us/pay-transparency Privacy Statement - https://careers.bankofamerica.com/en-us/privacy-notice