Product Manager - Credit Pricing at Bank of America in Pennington, NJ

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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 managing the end-to-end product life cycle, including conducting market research and competitor analyses, determining product pricing, developing short and long-term strategies, identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience, and adhering to the Product Risk Management policy. Job expectations may include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies.

The Product Manager role for GWIM Credit Pricing is responsible for the operational pricing aspects of the platform. The Product Manager is the subject matter expert on all pricing related policies and processes and provides strategic support and guidance to LOB leadership and field management in determining appropriate pricing for GWIM Securities Based Lending (SBL) products – Merrill - (Loan Management Account (LMA), Margin, International Securities Based Lending and Private Bank - Private Client Line (PCL).

The Product Manager will be accountable for developing pricing strategies, partnering with product and platform leaders on the execution of those strategies, reviewing and decisioning pricing requests from sales teams, and using data analytics to enhance pricing effectiveness across the platform.

“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”

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
• Create and maintain exception pricing policies for Margin, LMA, ISBL & PCL
• Review and decision Margin, LMA, ISBL & PCL pricing discount requests
• Provide subject matter expertise and guidance in response to pricing inquiries from branch office associates and stakeholders to ensure compliance adherence and profitability
• Coordinate and manage daily reports for compliance and accuracy

Required Qualifications:

• 5+ years of experience in Financial Services, Wealth Management, Banking, Lending, or related financial products
• Demonstrated understanding of the Global Wealth & Investment Management (GWIM) business model, including advisor-led client engagement, field organization dynamics, and wealth management client service delivery
• Familiarity and understanding of securities-based lending products
• Strong verbal and written communication skills, with the ability to build relationships, influence partners and adapt messaging for technical and non-technical audiences
• Strong analytical and problem-solving skills
• Proven organizational and time-management skills
• Proficiency in Excel, PowerPoint, and Word

Desired Qualifications:

• Bachelor’s Degree
• Experience developing and testing system enhancements and improvements

Skills:

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

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay Transparency details

US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600)

Pay and benefits information

Pay range

$112,000.00 - $192,500.00 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.