Sr. Product Manager - Health Benefit Solutions

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

The Product Manager will support the Health Benefits Solutions product portfolio and lead development and ongoing management of the Trump Accounts Institutional Solution. The role is accountable for translating business strategy, client and participant needs, regulatory requirements, and operational considerations into a clear product operating model, roadmap, and delivery plan. The product manager will coordinate cross-functional execution from concept and requirements through testing, implementation, launch, governance, enhancement, and business-as-usual support.

Responsibilities

• Own the Trump Accounts Institutional Solution product operating model, roadmap, implementation, rollout, and ongoing product lifecycle.
• Lead product requirements, prioritization, release planning, testing strategy, defect resolution, readiness assessments, and controlled production deployment.
• Develop and maintain product procedures, decision records, governance materials, controls evidence, issue logs, risks, dependencies, and executive status reporting.
• Coordinate across HBS product, technology, operations, service, risk, legal, compliance, finance, communications, and other enterprise partners to resolve issues and drive decisions.
• Monitor product performance, service health, participant and client experience, operational outcomes, and control effectiveness; identify and manage corrective actions and enhancements.
• Support traditional HBS product responsibilities, including production support, incident and problem management, change management, vendor and platform coordination, client escalations, and product documentation.
• Assess market, client, regulatory, and competitive developments and translate relevant changes into product implications, recommendations, and roadmap priorities.
• Develop business cases, implementation plans, communications, training, and stakeholder materials for new capabilities and material product changes.
• Facilitate governance routines and working sessions, communicate decisions and trade-offs clearly, and escalate material risks or unresolved dependencies.
• Partner with business and control functions to maintain a sustainable, compliant, scalable, and well-controlled solution after launch

Required

• 5+ years of experience in product management, product support, implementation, operations, technology delivery, or a related financial-services or benefits role.
• Demonstrated experience leading complex cross-functional initiatives from requirements through implementation and ongoing support.
• Experience developing business requirements, coordinating testing, managing issues and dependencies, and supporting production releases.
• Working knowledge of risk management, controls, governance, documentation, and escalation practices in a regulated environment.
• Strong written and verbal communication skills, including the ability to prepare concise materials for senior leaders and facilitate decisions across multiple stakeholders.
• Ability to manage competing priorities, operate with incomplete information, and establish structure for a new or evolving product.

Desired

• 7+ years of relevant experience, including ownership of a benefits, savings, payments, recordkeeping, or institutional financial product.
• Experience with Health Savings Accounts, Flexible Spending Accounts, Health Reimbursement Arrangements, commuter benefits, or adjacent workplace benefits products.
• Experience launching a new product or capability with significant technology, operational, legal, regulatory, communications, and service dependencies.
• Experience working with external administrators, recordkeepers, financial institutions, government entities, or other third-party partners.
• Experience with product analytics, client feedback, service metrics, and continuous-improvement methods.
• Bachelor’s degree in business, finance, technology, healthcare administration, or a related field; advanced degree or relevant product/project credential is helpful but not required.

Skills

• Business Acumen
• Data Management
• Oral Communications
• Presentation Skills
• Written Communications
• Benefits Plan Development
• Business Analytics
• Collaboration
• Executive Presence
• Analytical Thinking
• Benchmarking
• Innovative Thinking
• Problem Solving
• Product management and product lifecycle ownership
• Health benefits or financial benefits products
• Product strategy and roadmap development
• Business requirements and process design
• Implementation and release management
• User acceptance testing and defect management
• Production support and incident management
• Risk, controls, and governance
• Cross-functional stakeholder management
• Executive communication and status reporting
• Data analysis and performance monitoring
• Client and participant experience
• Vendor and technology partner management
• Problem solving and decision facilitation
• Change management, documentation, and training

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent. Bachelor's degree preferred or equivalent work experience.

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.