Senior Workplace Benefits Product Manager

Bank of America; Pennington (AL); On-site; USD 104,000 - 172,000; Full time

Job summary

Bank of America is seeking a senior professional to lead daily management and development of Institutional Retirement products within the Workplace Benefits investment team. You will drive the strategic plan, deliver innovative solutions for clients, and guide cross-functional teams from concept through execution.

This role focuses on investment platform management including selling agreements, fee arrangements, share class structures and investment data, with a strong emphasis on regulatory

Qualifications

• Minimum 5 years of related business experience
• Fundamental knowledge of investment vehicles and asset classes
• Bachelor’s degree preferred or equivalent work experience
• Onsite work may be required per workplace policy

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

Skills

Business Acumen

Data Management

Oral Communications

Presentation Skills

Written Communications

Benefits Plan Development

Business Analytics

Collaboration

Executive Presence

Sales Performance Management

Analytical Thinking

Education

Bachelor’s degree preferred

High School Diploma or equivalent

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.

The Workplace Benefits Investment team manages the investment vehicles (mutual funds, collective investment trusts, money market funds, stable value funds, group annuity funds, etc.) available across the Workplace Benefits products and products. This role will focus on investment platform management responsibilities including selling agreements, fee arrangements, share class structures and investment data.

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

Required

• Minimum 5 years of related business experience Fundamental knowledge of investment vehicles and asset classes

Desired

• Relevant Retirement Investments and industry relationship management experience and acumen.

Skills

• Business Acumen
• Data Management
• Oral Communications
• Presentation Skills
• Written Communications
• Benefits Plan Development
• Business Analytics
• Collaboration
• Executive Presence
• Sales Performance Management
• Analytical Thinking

Minimum Education Requirement

High School Diploma / GED / Secondary School or equivalent. Bachelor’s degree preferred or equivalent work experience.

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.

Shift

1st shift (United States of America)

Hours Per Week

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), 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.