Product Consultant

3 weeks ago


New York, New York, United States Bank of America Full time

Job Description:

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us
Job Description:
This job is responsible for supporting the end-to-end product life cycle by conducting market research and competitor analyses, determining product pricing, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience. Key responsibilities include managing product profitability, monitoring and reporting financial performance, and preparation of governance documentation. Job expectations include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies.
The Pricing Associate will report directly to the Head of Commercial Credit Pricing Strategy. This individual will be responsible for partnering with deal teams to manage and advise on pricing strategy within the streamlined pricing framework. They will also leverage data to construct actionable analytics at the deal level, while also reporting on macro portfolio spread trends for senior leadership. The Pricing Associate will lead routines to capture business feedback and build solutions for the credit pricing tool and its virtual assistant. Key stakeholders include partners across Global Banking Coverage, Enterprise Credit, Credit Risk, Finance, Corporate Treasury.

Responsibilities:
Supports comprehensive plans for product development and deployment, including engaging in the creation of sales training programs and marketing materials to educate clients and internal teams on product capabilities
Maintains product financials, including managing the investment profile and profit and loss (P&L) activities, such as revenue and profit margins
Provides information on product trends to sales and marketing teams leveraging knowledge of product functionality, marketplace trends, and the competitive landscape
Assists with streamlining or enhancing product offerings to fit client's existing and future needs to support continued growth and operational excellence
Manages risk through implementing and monitoring effective controls in partnership with key support partners
Partners with internal stakeholders to obtain meaningful insights about mar kets, clients, and competitors in order to develop products that solve client needs and ensure high adoption rates
Core Responsibilities include:
Act as a deal consultant on structure and pricing, partnering with deal teams during live transactions and serving as a pricing subject matter expert around relationship return on capital
Strategize how to program the virtual assistant in the pricing technology platform, Precision Lender, to be able to most effectively coach deal teams as the pricing team pushes to be more digital
Manage pricing guidance used by the lines of business in Enterprise Credit
Deliver weekly Global Banking portfolio spread and funded balance trend analysis to senior leadership across Global Banking, Corporate Treasury, Finance, and Debt Capital Markets
Monitor pricing and deal activity in the pricing tool to be able to understand in flight deal volume attributes by Industry, Line of Business, and Geography
Understands and connects commercial banking analytics across the enterprise and is able to identify and design opex solutions
Use structured data to provide analytics for executive leadership on Global Banking pricing trends
Participate in routines to collect feedback and implement enhancements for the credit pricing platform

Skills:
Administrative Services
Attention to Detail
Collaboration
Reporting
Written Communications
Continuous Improvement
Oral Communications
Problem Solving
Process Management
Product Management
Business Analytics
Critical Thinking
Market Analysis
Research
Strategic Thinking

Required Qualifications:
2+ years of Commercial Banking or Underwriting experience with Commercial Credit Products
Experience with Business Intelligence tools (i.e. Tableau)
Highly organized, self-starter, creative thinker with strong analytical skills
Strong communication/presentation skills ability to communicate vertically and horizontally within the organization
Strong working knowledge of Excel and PowerPoint

Desired Qualifications:
Experience with PrecisionLender is a plus
Familiarity with regulatory concepts around bank liquidity and capital as well as banking finance
Familiarity with non-credit revenue bank products (i.e. debt capital market services DCM or global transaction services GTS )

Shift:1st shift (United States of America)

Hours Per Week: 40


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