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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
This role will align under the Product Strategy team, focusing on developing client solutions that meet the financial needs of key clients segments and audiences. While project work may focus on a range of client segments, this role will have specific responsibility for product strategy related to Diverse Audiences--to include Hispanic/Latino, New to Country, and Non-English Language speakers .
Key responsibilities:
- Works with segment and channel partners to define segmentation approaches and develop subject matter expertise on assigned client segments and audiences.
- Develops a point of view on how the bank serves identified client segments today with products and services, to includes the product set, product features, and product development roadmaps, as well as channel capabilities and marketing strategies
- Uncovers client segment needs to drive future product development via client research, internal analytics, and competitive intelligence
- Assesses gaps and opportunities with the current product set, features, and experiences
- Defines an integrated product strategy and seamless client experience across the client lifecycle (acquisition, engagement, deepening, retention)
- Provides information on product trends to sales and marketing teams leveraging knowledge of product functionality, marketplace trends, and the competitive landscape
- Develops robust business cases to understand portfolio impacts across sales, retention, adoption, revenue, expenses, and profitability
- Executes strategic initiatives; size opportunities, prioritize, and integrate into product development and technology roadmaps
- Assists with streamlining or enhancing product offerings to fit client's existing and future needs to 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
Required Qualifications:
- 2+ years of business strategy or product management experience
- Demonstrated communication and presentation skills (verbal and written)
- Problem Solving
- Critical and Strategic Thinking
- Attention to Detail
- Teamwork and Collaboration
- Business Analytics
- Market Analysis
- Customer Research
- Influencing
Enterprise Role Description:
This job is responsible for supporting the end-to-end product life cycle by conducting market research and competitor analyses, determining product pricing, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience. Key responsibilities include managing product profitability, monitoring and reporting financial performance, and preparation of governance documentation. Job expectations include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies.
Responsibilities:
- Supports comprehensive plans for product development and deployment, including engaging in the creation of sales training programs and marketing materials to educate clients and internal teams on product capabilities
- Maintains product 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
- Assists with streamlining or enhancing product offerings to fit client's existing and future needs to 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
Skills:
- Attention to Detail, Collaboration, Continuous Improvement
- Written Communications, Oral Communications
- Process Management, Product Management
- Business Analytics, Market Analysis, Research
- Strategic Thinking, Critical Thinking
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 informationPay range$72,000.00 - $117,200.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.
