Sr. 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
• Provide leadership to the Fiduciary Advisory Services Team; supporting day to day responsibilities; prioritization and direction for the FAS teammates.
• Translate product direction into clear priorities and deliver high-impact, innovative platform solutions within a determined budget and timeframe
• Oversee technology projects success: conduct gap analysis, identify issues, analyze root causes, develop innovative solutions, communicate results, and obtain buy in for change from key stakeholders and senior leadership
• Partner with various stakeholders of the FAS programs: Advisor Alliance, Sales, PST, Advisory, Investments to capture client feedback and help shape the technology roadmap for the FAS portal
• Create and manage the technology development roadmap for the Fiduciary Advisory Services (FAS) platform; understand platform performance drivers and make sound decisions to maximize business results
• Manage FAS programs day to day; 3(21) and 3(38) services including ADV oversight and modifications; billing
• Ensure product and platform requirements are driven through to implementation; provide thought leadership and enable execution
• Manage tracking and measurement against platform deliverables and product initiatives; design metrics and scorecards to measure efficiency and ensure on-time path to execution
• Identify and evaluate opportunities to streamline, centralize, and de-risk the business through critical analysis of the product offering and underlying processes
• Define detailed test plan for all technology platform launches, ensuring flawless execution of the product requirements

Required Qualifications

• 5+ years’ experience in financial services
• Demonstrated ability to launch technology platforms / running a product offering
• Experience in fiduciary advisory services or investment advisory programs
• Proven track record of driving multi-million-dollar technology projects end-to-end and successful execution of strategy
• Strategic thinker with demonstrated ability to implement and operationalize the strategy

Desired Qualifications:

• Strong PowerPoint skills
• Strong presentation skills
• Leadership experience (management)

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