Head of Annuity Product Management

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:
Annuities provide an opportunity to create sustainable retirement income and protect against downside risk. The Head of Annuity Product is responsible for driving responsible growth, optimizing the client experience, innovating with an operational excellence mindset, and delivering exceptional risk management. 
The ideal candidate brings proven business leadership experience with a track record of managing complexity, leading stakeholders, and delivering results.  This candidate must have a strong understanding of our enterprise values, ability to influence across lines of business, and connect within the industry.

Responsibilities:

•    Strategic development of the platform including curating and governing the product offering 
•    Financial performance including delivering against revenue targets, and managing line of business expenses (i.e. vendor and subscription costs)
•    Identifying, building business cases, securing, and executing technology projects to optimize client/advisor experience
•    Delivering exception client/advisor experience through the purchase process and lifecycle of annuity contracts
•    Engagement with 3rd party insurance companies and the annuity industry
•    Integration of annuity solutions within wealth management planning framework, and alignment with distribution partners (internal and external)
•    Marketing and brand development
•    Implementation of regulatory changes, and ongoing risk management of platform

Desired Qualifications:

•    12+ years wealth management and/or annuity experience (required)
•    Ability to think strategically about the current and future state of the annuity industry to maintain competitiveness
•    Ability to influence and communicate across lines of business, field leaders, and control units 
•    Expertise with value proposition, operational systems, supervision, order entry workflow, 3rd party partner relationships, and regulatory landscape.  
•    Bias for action to create momentum and drive speed of execution.  
•    Ability to manage financial results, operational losses, client complaints, and expenses 
•    Agility in learning to leverage emerging technology to simplify experience and lead industry
•    Ability to lead people, recruit, and develop talent
•    Exceptional communication skills – structuring presentations, written, and verbal

Required qualifications:

• Life/Health/Variable Annuity or ability to obtain within 120 days

Skills:

• Influence
• Innovative Thinking
• Oral Communications
• Product Management
• Strategy Planning and Development
• Business Development
• Executive Presence
• Relationship Building
• Strategic Thinking
• Business Analytics
• Client Experience Branding
• Collaboration
• Continuous Improvement
• Presentation Skills

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range$153,000.00 - $237,600.00 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.