Bank of America Treasury Product Manager in New York, New York
The GTS Digital Disbursements Team is mandated to grow both domestic and cross-border payments through the marketing and enhancement of our existing offering, and the development and launch of new products. As BAML seeks to grow payments revenue we face fierce competitive pressure from banks, traditional networks and non-traditional payment providers. To remain relevant and grow share, we must rapidly develop and launch leading edge solutions that address client pain points and leverage evolving market trends.
This role will be responsible for ongoing daily product management of existing products, as well as contributing to some of the key strategic initiatives that will driving in 2018 and beyond:
Ongoing Product Management:
Support all aspects of managing existing product Digital Disbursement and Global Digital Disbursement products including marketing programs, product literature, pricing, competitive research, risk management routines, vendor management, operational and servicing issues, sales support, RFP responses, client calling, and development of client adoption programs. Participate in meeting routines and project work related to the bank’s ownership and business relationship with Early Warning Services (EWS), the owner of Zelle. This includes reviewing changes and policies and advocating the bank’s positions thereupon.
New Product Development:
Deliver product enhancements for existing products: Collaborate with product management and sales teams to identify and define enhancements required to maintain product relevance and drive incremental revenue. Develop business cases to prioritize needs and support investment requests, articulate business requirements, and drive execution of enhancements.
Design and launch of new global cross-border payment products: Work collaboratively with consumer tech, wholesale tech and third party vendor(s) to develop new alias-based and card network solutions to support product expansion domestically and within international regions (e.g., APAC, EMEA, LatAm).
Client support for new product launch: Identify all supporting efforts and materials required for a successful new product launch. Lead cross-functional teams inclusive of marketing, strategic solutions delivery, consumer research, and training to create market differentiating support solutions that drive client and end-user adoption of new products.
Cross-regional collaboration on product strategy: Engage with regional partners to develop appropriate expansion strategies and related business cases for international digital disbursements. Identify target networks and help drive execution of regional expansion.
Partner negotiation support: Collaborate with product and business development partners in the definition of terms for third party deals, including pricing, SLAs and other key contractual provisions.
Key responsibilities of this position include:
Ongoing Product Management
Collaborate across the full spectrum of partner functions (eg, sales, ops, servicing, legal, risk, compliance, etc.) to grow Digital Disbursement and Global Digital Disbursement revenue while maintaining full compliance, risk management, and service and operating standards.
Actively participate in committee meetings with EWS and be a strong advocate into the bank about EWS policies, changes, etc, as well as being a strong advocate for the bank’s priorities to EWS.
New Product Development
Work with business partners on the design and requirements for enhancements to existing products and creation of new products to ensure consistent client experience and seamless integration across products, while maintaining full risk and compliance management
Collaborate with business development in the negotiation of new partnership terms, inclusive of pricing and SLAs for new products.
Proactively engage with clients and sales team and survey competitive market to help define and scope development of the next generation of capabilities to ensure market differentiation.
Collaborate with key partners to prepare for risk governance review for new product launch; present findings to governance committee to obtain all necessary approvals before launch.
Manage pilot launch activities of new products in parallel to broader product roll-out; ensure feedback from pilot is incorporated into scaled launch.
Monitor launch success and adoption of new product and proactively identify creative approaches to accelerate sales and end-user adoption. Collaboarate with sales and Product Sales Specialist teams to understand sales hurdles and product challenges to inform new solutions.
Must have the ability to structure and drive conclusions from independent research and operate in ambiguity
Must have an entrepreneurial spirit and an excellent understanding of technology within a business context
Must have at least 5-10 years experience with client and industry analytics
Must have at least 5-10 years experience with corporate strategy work, competitive analysis, and financial modeling
Must be able to present to senior level executives and business partners, demonstrating good verbal and clearcommunication skills
Must be able to effectively represent the bank to a bank-owned payment consortium
Must have ability to work in a fast paced, cross-functional environment
Must have experience with data analytics and data visualization tools
Must have working knowledge of PowerPoint, Word, Excel
Must have ability to travel as needed
MBA or higher
Experience working at a major management consulting firm
Business background regarding Payment systems/intergration with banking products
New product development background
Posting Date : 05/11/2018
New York, NY, BANK OF AMERICA TOWER, ONE BRYANT PARK,
Charlotte, NC, ONE BANK OF AMERICA CENTER, 150 N COLLEGE ST,
- United States
Travel : Yes, 15% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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