Sr Product Mgr - Consumer Lending

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 Home Equity Product Strategy Manager is responsible for developing and executing the strategic roadmap for Home Equity products, including Home Equity Lines of Credit and related lending solutions. This role manages highly complex product initiatives across the product life cycle, with accountability for market research, competitive analysis, pricing strategy, client experience, risk management, product performance, and growth opportunities. The position requires close partnership across Digital, Sales, Marketing, Fulfillment, Servicing, Risk, Legal, Compliance, Finance, and Technology to modernize the Home Equity experience, strengthen product competitiveness, and deliver value for clients and the business.

The Home Loans Product team is responsible for the end-to-end product management of mortgage and Home Equity solutions across all channels at Bank of America.

We are seeking a strategic, results-oriented product leader with deep consumer lending expertise, strong direct-to-consumer marketing acumen, and the ability to translate market insights, client needs, and business priorities into a clear Home Equity product strategy.

This role requires strong partnership and influence skills, with the ability to build trusted relationships across Front Line Units such as Digital, Sales, Marketing, Fulfillment, Servicing, and Technology, as well as Second Line Units including Risk, Legal, and Compliance.

This role will also have accountability for the client experience, including monitoring satisfaction trends, complaint themes, operational pain points, competitive gaps, and partner resolutions for issues, risks, and escalations.

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

LOB Specific Responsibilities:

• Develops and owns the Home Equity product strategy and roadmap, aligning initiatives to business priorities, client needs, risk appetite, channel strategies, and growth objectives

• Leads product development and deployment planning for complex Home Equity initiatives, including business cases, requirements, go-to-market plans, operational readiness, and success measures

• Monitors portfolio performance, economics, pricing, margins, and product profitability to identify opportunities that improve growth, competitiveness, and financial outcomes

• Conducts market research, competitive analysis, and client behavior analysis to identify emerging trends, product gaps, and opportunities to modernize the Home Equity experience

• Partners with Sales, Marketing, Digital, Fulfillment, Servicing, Finance, Risk, Legal, Compliance, and Technology to deliver integrated product strategies across channels and client segments

• Owns client experience insights for the product, including satisfaction drivers, complaint themes, escalation trends, friction points, and opportunities to simplify or improve the customer journey

• Drives execution of strategic initiatives by influencing stakeholders, resolving issues, managing dependencies, and ensuring clear communication across leadership and partner teams

• Provides product expertise and strategic guidance to sales, marketing, and operational partners, including support for training, communications, and internal education materials

• Manages product risk through effective controls, issue identification, remediation planning, and ongoing partnership with risk and compliance stakeholders

• Builds executive-ready updates, recommendations, and decision materials that communicate product performance, strategic choices, business trade-offs, and implementation progress

• Identifies opportunities to streamline processes, improve operational excellence, and strengthen the appeal and accessibility of Home Equity solutions

Required Qualifications:

• Demonstrated strategic planning/product management skills

• Strong analytical skills with breadth of view

• Negotiation skills

• 7+ years of relevant experience

• 5+ years of product management, product strategy, or related experience within consumer lending, financial services, or a comparable regulated environment

• Experience developing product strategies, business cases, roadmaps, and cross-functional implementation plans

• Strong understanding of consumer lending products such as Home Equity, Mortgage, Credit Card, Auto, or related secured or unsecured lending solutions

• Demonstrated ability to analyze market trends, competitive dynamics, portfolio performance, and client insights to inform product decisions

• Proven ability to lead complex initiatives across multiple partners, channels, and audiences while managing priorities, dependencies, and deadlines

• Strong risk management mindset with attention to controls, issue identification, regulatory considerations, and timely mitigation

• Excellent executive communication skills, including the ability to develop clear PowerPoint materials, present recommendations, and influence decisions at multiple organizational levels

• Ability to collaborate effectively, build trusted partner relationships, and gain commitment across matrixed teams

• Strong analytical, problem-solving, and process management skills

• Strategic direct-to-consumer marketing knowledge and ability to connect product strategy to client acquisition, engagement, and retention opportunities

• Adaptable self-starter with strong judgment, ownership, and ability to operate effectively in a changing business environment

Desired Qualifications:

• Product management experience across consumer lending (e.g. Credit Card, HELOC, Mortgage, Auto)

• Experience with product pricing, portfolio economics, profitability analysis, or P&L management

• Experience improving digital, sales, fulfillment, servicing, or end-to-end client journeys

• Experience with product prequalification, eligibility, credit policy, or underwriting strategy

• Experience preparing executive-level materials, strategic recommendations, or governance updates

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

• Product Strategy

• Consumer Lending

• Client Experience

• P&L and Portfolio Management

• Stakeholder Management

• Risk Management

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.