Product Consultant

Charlotte, NC, United States

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

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”)

Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:

1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.

2. Think about why you can do the job and make a list of your skills that are relative to the job.

3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.

4. Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume

• Do be brief. Resumes should be 1-2 pages in length.

• Do be upbeat and active in your wording.

• Do emphasize what you have done clearly and concretely.

• Do be neat and well organized.

• Do have others proofread and critique your resume. Spell check. Make it error free.

• Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.

• Don't be dishonest, always tell the truth about yourself in the most flattering light.

• Don't include salary history or requirements.

• Don't include references.

• Don't include accomplishments that do not support your professional goals.

• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)

• Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview

1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?

2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?

3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.

4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.

5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.

6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.

7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.

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