Sr. Product Manager – Deposit Engagement & Retention

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. 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 managing the end-to-end product life cycle for highly complex products. Key responsibilities include conducting market research and competitor analyses, determining product pricing, developing short and long-term strategies, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience. Job expectations include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies. The Consumer Deposit Products, Transformation & Rewards team is focused on delivering innovative, client-centric solutions that anticipate and exceed evolving financial needs. We partner across the organization to drive responsible growth while enhancing client loyalty and engagement. We are seeking a Senior Product Manager to lead consumer deposit engagement strategies that increase account activation, usage, retention, and deposit growth. This role will focus on first 90-day client activation and ongoing portfolio engagement, leveraging data-driven insights, targeted initiatives, product enhancements, and personalized experiences. The position offers significant cross-functional exposure and the opportunity to shape key growth and transformation initiatives. 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: Identifies and creates comprehensive plans for product development and deployment, including supporting the creation of sales training programs and marketing materials to educate clients and internal teams on product capabilities Oversees a set of products and maintains 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 Identifies opportunities to streamline or enhance product offerings to fit client's existing and future needs and 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 markets, clients, and competitors in order to develop products that solve client needs and ensure high adoption rates Develops and influences product strategy, driving products to provide comprehensive solutions across the bank Applies deep understanding of the business and client needs to inform decision-making across all stages of the product development and lifecycle management process Uses data, analytics, and client insights to identify engagement trends, behaviors, and attrition drivers, translating findings into actionable strategies Builds and maintains strong relationships across stakeholders and key partners to effectively navigate the organization and ensure successful delivery of initiatives Develops clear, compelling executive communications that simplify complex concepts and drive decision-making Leads cross-functional execution across Product, Marketing, Digital, Analytics, and Channel teams to deliver scalable solutions that deepen relationships, increase engagement, and support long-term deposit growth Required Qualifications: Demonstrated strategic planning/product management skills Strong analytical skills with breadth of view Negotiation skills 7+ years of relevant experience 4-5 years of experience in product management or a related field Self-motivated, adaptable, and able to thrive in a fast-paced environment with minimal oversight Strong organizational skills with a demonstrated ability to manage and advance multiple initiatives simultaneously Excellent written and verbal communication skills, including experience developing executive-level presentations and deliverables Strong analytical skills, with proficiency in Excel and the ability to translate data into actionable insights Solid project management capabilities, including managing timelines, deliverables, and cross-functional dependencies Demonstrated success leading cross-functional teams and driving alignment through effective governance and operating routines Desired Qualifications: Demonstrates the ability to navigate ambiguity and adapt effectively to changing priorities and circumstances Proactive self-starter who identifies opportunities, brings together the right partners, and drives change or develops actionable recommendations Results-oriented with a proven track record of delivering strong outcomes and achieving objectives Skills: Collaboration Executive Presence Oral Communications Presentation Skills Problem Solving Attention to Detail Continuous Improvement Influence Product Management Strategic Thinking Business Analytics Innovative Thinking Market Analysis Process Management Reporting 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 $116,600.00 - $174,300.00 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.