Defined Contribution Product Manager - IRC177268

Brief Description

The Defined Contribution Product Manager is responsible for designing efficient and competitive products and services and positioning them effectively in the marketplace.  The Defined Contribution Product Manager role is to actively and directly impact the business goal of maximizing profitability through product strategy formulation and product design, product pricing, development and implementation.  Responsible for planning and developing market strategies and customer service propositions to create a distinct and relevant identity for Bank of America Merrill Lynch’s Defined Contribution product offering. 

·         Developing business cases and business requirements for new functionality and leading the successful implementation of new services.  Monitor product penetration and determine necessary next action steps.

·         Responsible for developing product vision, strategies and tactical development efforts to competitively position capabilities within the marketplace managing the financial contribution of the Defined Contribution products in accordance with risk guidelines.  Articulates how products support overall business strategy. 

·         The Defined Contributions Product Manager is responsible for establishing service standards, monitors product efficiency, performance, and quality to ensure competitive offering. 

·         Supporting the client service, direct sales and financial advisor organizations in pursuit of growth objectives.

·         Developing and managing marketing strategies and communications plans including training curricula, rollout campaigns, and other product related materials.

·         Evaluating relevant industry trends, regulatory concerns and the competitive environment. Working with business partners to implement changes to policies, procedures and processes as necessary.

·         Partnering with Pricing and Underwriting to ensure a competitive, profitable product model that is positioned well for the organization.

·         Managing within appropriate regulatory and financial risk guidelines.

·         Assists team in exceeding Critical Few Objectives in accordance with the organization’s vision.

·         Bachelors Degree required Advanced Degree in a relevant discipline preferred (MBA, Economics). Minimum of 7-10 years experience in retirement industry with specific management experience within the defined contribution marketplace. Expertise in retirement services, competitive and regulatory environment

·         Fundamental knowledge of financial dynamics, investment products, recordkeeping systems and buyer needs within the defined contribution marketplace.

         Knowledge of Merrill Lynch trading platforms is helpful.

         Ability to work and influence outcomes in a team environment including marketing, operations, systems, management, finance, legal, etc. 

         Highly analytical with ability to synthesize data and research findings to make actionable recommendations.

         Ability to interface with clients and prospects in conjunction with Client Management and/or Sales, Vendors, including alliance partners when applicable, Industry experts, especially through conferences, professional associations or consulting relationships

         Marketing and/or strategy development background essential.

         Superior project management skills. 

         Proven effectiveness in fast-paced, demanding, client-driven environment.  Ideal candidate will possess both a strategic thinking expertise as well as an ability to plan and execute tactical actions to implement strategic objectives.

         Ability to communicate effectively with all levels of management within the organization.

         Have sound business judgment and decision-making skills.  Must represent a major business line for Merrill Lynch.

         Ability to understand and analyze the product balance sheet.

·         Identify and prioritize projects to ensure consistency with business objectives and strategic initiatives.

·         Effective influencing and negotiation skills. 

·         Effective presentation skills for all audiences internal and external.

·         Excellent written, verbal and managerial skills.

         Superior Interpersonal skills necessary to communicate complex information to a wide variety of personnel in a clear, concise and well-organized manner

         Knowledge of industry trends, competitive advantages, and product offerings.

Series 7 and 66. (If the are not currently held, they must be obtained within the first 6 months)