Product Manager - Defined Contribution

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 position serves as the strategic intelligence leader for the Workplace Benefits recordkeeping platform driving product and platform roadmap development and execution. This role is responsible for identifying market opportunities, competitive threats, client needs, and industry trends that inform product strategy, platform modernization, pricing decisions, and investment prioritization. The position acts as the central source of market analysis across Product, Sales, Consultant Relations, Service, Operations, and Technology teams.

Responsibilities:

• Monitor industry trends, regulatory developments, emerging technologies, and market shifts impacting recordkeeping and participant experience.
• Develop competitive assessments, capability comparisons, and market positioning analyses; Identify competitive gaps, threats, and opportunities and translate findings into actionable recommendations.
• Support development of the long-term product roadmap through market data, customer feedback, and industry benchmarking; partner with Sales, Consultant Relations, and Relationship Management teams to identify changing client needs and market demands.
• Gather and synthesize insights from client advisory councils, client meetings, consultant discussions, RFP feedback, and win/loss reviews.
• Support annual strategic planning, operating planning, and investment prioritization exercises.
• Recommend opportunities for product expansion, modernization, revenue growth, and efficiency improvement
• Deep understanding of defined contribution retirement plans, recordkeeping platforms, participant servicing, retirement income solutions, investments, and related workplace benefits products.
• Knowledge of recordkeeping industry dynamics, pricing models, and competitive landscape.
• Familiarity with retirement plan sponsors, consultants, advisors, and participant experience trends.

• Ability to work effectively across Product, Sales, Technology, Operations, Risk, Compliance, and Consultant Relations organizations

Required:

• Retirement Product experience
• Strong PowerPoint skills
• Strong Executive Presentation skills
• Leadership experience (management)

Desired:

• Strong Organizational Skills
• Strong Analytical Skills
• Project Management Experience
• Strong project tracking and follow-through capabilities
• Meticulous task management skills

Skills:

• Business Acumen
• Data Management
• Oral 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

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent; Bachelors degree preferred.

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 - 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.