Product Senior Pricing 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 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 developing and implementing a pricing and profitability strategy for one or more product(s). Key responsibilities include developing, sponsoring and influencing pricing strategies and tactics across functional groups and within a product team, including maintaining a close partnership with aligned Product Managers. Job expectations include generating innovative ideas to support competitive pricing of a product and applying extensive technical or functional knowledge of pricing strategies and models.

Has management responsibility for pricing and profitability strategy of product(s). Develops, sponsors and/or influences the pricing strategies and tactics across functional groups and/or within a product group. Drives innovative idea generation for the products under their management. May act as an individual contributor or may lead a team. Has extensive technical or functional knowledge of pricing strategies. Pricing/Profitability requests managed are generally more complex than those managed by less senior level pricing managers.

The Deposits Pricing team is seeking a Product Senior Pricing Manager that will be responsible for conducting complex analysis of pricing, cross-functional initiatives, assessing internal/external impacts, executive socialization, and driving execution of strategic priorities.

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.

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:

• Develops comprehensive and competitive pricing and profitability strategies through integrated effort with Product teams, sales, marketing and operations
• Leverages extensive knowledge of pricing models, competitive landscape, market performance and product functionality to inform pricing and profitability strategies
• Identifies innovative enhancement opportunities for pricing structure to support continued growth of products and client engagement
• Analyzes and distills large quantity of data to help inform strategic direction or decision
• Communicates pricing strategy and impacts to financials, profit and loss (P&L) activities, such as revenue and profit margins
• Engages with relevant partners and stakeholders to address questions about pricing strategy
• Oversees the effective remediation of pricing errors or issues
• Develop and execute deposit rate tactics to deliver on revenue and balance growth targets
• Perform quantitative analysis on outcomes of applied pricing approaches
• Responsible for management and tracking of pricing program results
• Design and conduct scenario analysis of alternative pricing approaches
• Apply mathematical analysis to data on client balance flows to inform pricing strategies
• Analyze large amounts of data, leveraging SQL, Excel
• Extract statistically significant learnings from data on balance and revenue impacts of pricing changes
• Ability to analyze evolving trends in data and project financial impacts of potential pricing changes
• Develop business cases in support of key initiatives

Required Qualifications:

• Extensive technical and/or functional knowledge of pricing strategies and models; pricing/profitability requests managed are generally more complex than those managed by less senior level pricing managers
• Ability to think strategically and tactically to drive success
• Analytical and critical thinking skills
• Ability to design and execute data analysis and develop insights
• Detail oriented, self-starter, takes initiative, independent worker, surfaces and escalates issues or concerns effectively
• Excellent oral and written communication skills, and ability to confidently present to senior leaders
• Strong SQL, excel, power point skills
• Ability to analyze product trends and understand the financials of the business
• Ability to form strong partnerships with key stakeholders and work with them on initiatives; hold accountable when needed

Desired Qualifications:

• Analytical, modeling and/or optimization experience and education
• Prior pricing experience
• Business, Finance, or Mathematics Degree

Skills:

• Attention to Detail
• Business Analytics
• Critical Thinking
• Data and Trend Analysis
• Financial Analysis
• Financial Forecasting and Modeling
• Problem Solving
• Process Management
• Product Management
• Strategic Thinking
• Influence
• Market Analysis
• Oral Communications
• Profitability Analysis
• Written Communications

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$107,200.00 - $161,700.00 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.