Senior Workplace Benefits 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 leading daily management and development of Institutional Retirement products. Key responsibilities include developing, maintaining and executing the strategic plan of a product, delivering innovative solutions that meet the needs of Workplace Benefits clients, identifying gaps and developing solution plans. Job expectations includes leveraging product management and development expertise, leading complex projects across cross-functional teams with limited oversight and communicating complex information in a clear, concise and organized manner.

Responsibilities:

• Develops and executes strategies aligned to client and marketplace needs to meet business goals

• Understands competitive landscape to identify strategic opportunities and target markets

• Partners across cross-functional teams to drive development of product solutions and capabilities

• Collaborates with key stakeholders to develop go-to-market strategies and product positioning

• Develops and manages risk mitigation strategies and understands changing regulatory landscape

• Develops business cases, organizes information and documents recommendations to move the product forward

• Identifies opportunities to simplify, improve processes, reduce operating risk and control expenses

Managerial Responsibilities:

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.

• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.

• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.

• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.

• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.

• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.

• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Required:

• Minimum 10 years experience, Workplace Benefits product experience preferred, project management experience

Desired:

• Executive presence, keen communication skills, highly organized and strategic in mindset and approach

Skills:

• Business Acumen

• Data Management

• Written and Verbal Communications

• Presentation Skills

• Written Communications

• Benefits Plan Development

• Business Analytics

• Collaboration

• Executive Presence

• Sales Performance Management

• Analytical Thinking

• Benchmarking

• Innovative Thinking

• Problem Solving

• Product Management

• Executive Communication

• Strategic Thinking

• Product Strategy and Roadmap Development

• Prioritization and Decision Making

• Project Management

• Defined Contribution Plan Knowledge

• Fiduciary Knowledge

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent. Bachelor’s Degree or equivalent work experience preferred.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140)

Pay and benefits information

Pay range

$104,000.00 - $171,600.00 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.