Product Pricing Manager

Bank of America
Published
August 6, 2022
Location
Jacksonville, FL
Category
Job Type

Description

Product Pricing Manager

Jacksonville, Florida;Plano, Texas; Charlotte, North Carolina; Alexandria, Virginia

Job Description:

The Product Pricing Manager is responsible for conducting analysis of pricing model output, portfolio data and daily new loan volume data that identifies strategies to maximize new volume profitability, contribution margin, responsible growth and credit quality targets for Consumer Vehicle Lending (CVL) products.

The ideal candidate will have a strong analytical background and technical knowledge with executing pricing tactics and strategies.

  • Extract financial and statistical data from multiple Enterprise databases using data mining skills (SAS, SQL, Tableau) to support pricing strategy recommendations to CVL Leadership;

  • Monitor and track new loan volume trends to identify areas of pricing opportunity in various pricing segments;

  • Compare business performance to key CVL competitors, incorporating available competitive intelligence data and industry data;

  • Interact extensively with the CVL Product Team Development, Senior Pricing Managers, Credit Analytics & Strategies, CVL Leaders & partners on Pricing related projects, risk/reward analysis and performance optimization.

Enterprise Role Overview:

Responsible for reviewing and pricing products and services. Analyzes the profitability of the client and/or specific services, works up pricing recommendations, and implements and verifies pricing. Must work closely with Product managers on pricing strategies and involve Product managers on deals when necessary. Is responsible for communicating with sales officers and addressing pricing questions and/or issues from the Sales team. Must also be aware of the deal size and arrange for senior management approval calls. May act as an individual contributor or may lead a smaller team in developing and/or influencing pricing strategies and profitability. Provides comprehensive solutions to complex problems or needs. Has extensive technical or functional knowledge of pricing strategies and models.

Required Skills: Must have these skills to be minimally qualified.

  • 1-3+ years of working experience in financial modeling, analyses.

  • Ability to think strategically and tactically to drive product success.

  • Excellent oral and written communication skills with the ability to confidently present to Senior Leaders.

  • Able to work with minimum supervision in a fast-paced and challenging environment; a team-player with ability to build relationships across the firm.

  • Ability to form strong partnerships with key business partners and work with them on initiatives, holding them accountable when needed.

  • Positive attitude towards change and ability to think out of the box to solve business issues.

Desired Skills:

  • BI Platform Experience MicroStrategy, Cognos, SAS, Tableau

  • Understanding of elasticity and optimization models.

  • Experience with AI and Machine Learning

  • Knowledge of automotive and/or banking/financial services industry.

  • Understanding of how the Bank works from an Enterprise perspective

  • Bachelors degree and/or Masters degree in a quantitative discipline is preferred. Mathematics, Statistics, Economics or related field.

Job Band:

H5

Shift:

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Product Pricing Manager is responsible for conducting analysis of pricing model output, portfolio data and daily new loan volume data that identifies strategies to maximize new volume profitability, contribution margin, responsible growth and credit quality targets for Consumer Vehicle Lending (CVL) products.

The ideal candidate will have a strong analytical background and technical knowledge with executing pricing tactics and strategies.

  • Extract financial and statistical data from multiple Enterprise databases using data mining skills (SAS, SQL, Tableau) to support pricing strategy recommendations to CVL Leadership;

  • Monitor and track new loan volume trends to identify areas of pricing opportunity in various pricing segments;

  • Compare business performance to key CVL competitors, incorporating available competitive intelligence data and industry data;

  • Interact extensively with the CVL Product Team Development, Senior Pricing Managers, Credit Analytics & Strategies, CVL Leaders & partners on Pricing related projects, risk/reward analysis and performance optimization.

Enterprise Role Overview:

Responsible for reviewing and pricing products and services. Analyzes the profitability of the client and/or specific services, works up pricing recommendations, and implements and verifies pricing. Must work closely with Product managers on pricing strategies and involve Product managers on deals when necessary. Is responsible for communicating with sales officers and addressing pricing questions and/or issues from the Sales team. Must also be aware of the deal size and arrange for senior management approval calls. May act as an individual contributor or may lead a smaller team in developing and/or influencing pricing strategies and profitability. Provides comprehensive solutions to complex problems or needs. Has extensive technical or functional knowledge of pricing strategies and models.

Required Skills: Must have these skills to be minimally qualified.

  • 1-3+ years of working experience in financial modeling, analyses.

  • Ability to think strategically and tactically to drive product success.

  • Excellent oral and written communication skills with the ability to confidently present to Senior Leaders.

  • Able to work with minimum supervision in a fast-paced and challenging environment; a team-player with ability to build relationships across the firm.

  • Ability to form strong partnerships with key business partners and work with them on initiatives, holding them accountable when needed.

  • Positive attitude towards change and ability to think out of the box to solve business issues.

Desired Skills:

  • BI Platform Experience MicroStrategy, Cognos, SAS, Tableau

  • Understanding of elasticity and optimization models.

  • Experience with AI and Machine Learning

  • Knowledge of automotive and/or banking/financial services industry.

  • Understanding of how the Bank works from an Enterprise perspective

  • Bachelors degree and/or Masters degree in a quantitative discipline is preferred. Mathematics, Statistics, Economics or related field.

Shift:

1st shift (United States of America)

Hours Per Week:

40

Learn more about this role

Full time

JR-22030960

Band: H5

Manages People: No

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Jennifer Potter

Referral Bonus:

0

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .

To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .

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