Head of Small Business Deposit Products -

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 sponsoring short and long- term product management plans, including cross functional strategies. Key responsibilities include leading product management teams, oversight of market research and competitor analysis, product pricing, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience. Job expectations include comprehensive strategic planning and ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies.

Lead strategy, P&L performance, and end‑to‑end product management for Bank of America’s Small Business deposit, debit and payments portfolio. This executive will own one of the bank’s most critical business relationships, responsible for driving growth in primary banking relationships, balances, engagement, and long‑term customer value.

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.

Product Strategy & P&L Ownership

• Own the end‑to‑end strategy, financial performance, and execution of the small business deposit portfolio (deposits, payments, and services), including product features, value proposition, and lifecycle management.
• Drive sustainable growth in primary deposit relationships, balances, revenue, and profitability, while balancing client value and risk considerations.
• Lead deposit acquisition strategy across digital, financial centers, and partner channels, optimizing volume, mix, and quality of new accounts.

Product Value Proposition & Experience

• Define compelling, differentiated deposit value propositions across client segments
• Lead simplification and modernization of products, reducing complexity while improving transparency, engagement, and satisfaction.
• Partner closely with Digital, Marketing, Technology and Experience Design to deliver seamless, intuitive, omnichannel experiences.
• Partner with Marketing to design value propositions, offers, and campaigns tailored to priority segments.
• Drive best-in-class digital account opening and onboarding, improving conversion, funding rates, and early engagement.

Cross‑Functional Leadership

• Lead and develop a team of product leaders and managers
• Serve as a senior partner to Technology, Operations, Risk, Compliance, Legal, Finance, Marketing, Analytics, and Front Line organizations.
• Ensure products are designed and managed in full compliance with regulatory, risk, and control standards

Analytics & Performance Management

• Establish clear KPIs across sales, engagement, balances, revenue, and customer outcomes.
• Leverage advanced analytics and test‑and‑learn approaches to optimize features, and offers.
• Use insights to continuously improve product performance and customer lifetime value.

Market & Competitive Leadership

• Maintain deep awareness of market trends, fintech innovation, competitive offerings, and regulatory developments impacting business deposits and payments.
• Represent Small Business Deposits and Payments in senior leadership forums and contribute to broader business banking strategy.

Responsibilities:

• Owns a set of products and corresponding financials that may be more complex, including managing the investment profile and profit and loss (P&L) activities, such as revenue and profit margins
• Develops long and short-term product strategy, driving products to provide comp