BofA Rewards Strategy Sr. Product Specialist

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:
Gather market information & perform product analyses on assigned products, manage product profitability & monitor financial performance. Assists with development, execution, and tracking of product campaigns by collecting, analyzing, and reporting on data. Competencies required include market analysis/research focus, in-depth knowledge of products, a Bachelor degree, & 1-3 years related experience.

This role supports the development and execution of short- and long-term program plans for BofA Rewards. Key responsibilities include conducting market research and competitive analysis, contributing to business case development, supporting strategy execution, and identifying opportunities to enhance and modernize the rewards experience. The role will partner across marketing, delivery, operations, implementation, and client service teams to help deliver a more unified and engaging offering for clients.

Reporting to the Head of BofA Rewards Strategy, this role will help develop and deliver client-centric strategies and innovative solutions that address clients’ current and emerging financial needs through rewards.

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:

• Partners with internal stakeholders to gather meaningful insights on markets, clients, and competitors, informing loyalty strategies that address client needs and drive strong adoption.
• Supports the development of short- and long-term strategies that use rewards to deepen client loyalty and deliver more comprehensive financial solutions.
• Contributes to product strategies informed by industry and market intelligence and aligned with the company’s responsible growth strategy; supports associated business cases with strategic narratives and clear measures of success.
• Analyzes client experiences and consumer behaviors across products to identify opportunities for new benefits that deepen engagement and improve retention.
• Collaborates with business partners to leverage best practices and breakthrough strategies that drive results.
• Partners closely with segment, product, and marketing teams to deliver a holistic, integrated rewards strategy centered on the client experience.
• Contributes to a collaborative, inclusive culture focused on continuous improvement and effective risk management.

Required Qualifications:

• Bachelor's Degree or minimum of one year of relevant experience
• 2+ years of business strategy or product management experience
• Strategic thinker with the ability to translate strategy into clear objectives and practical tactics that drive results; evaluate ideas; prioritize initiatives; quantify benefits; and assess performance
• Strong verbal and written communication and presentation skills, with the ability to develop clear executive-level storytelling.
• Ability to work effectively in a team environment.

Desired Qualifications:

• Experience developing and managing third-party partnerships.
• Demonstrates a strong drive for results and success, with a sense of urgency to achieve outcomes and exceed expectations.
• Commitment to continuous learning and skill development to better serve clients

Skills:

• Attention to Detail
• Collaboration
• Oral Communications
• Problem Solving
• Process Management
• Business Analytics
• Continuous Improvement
• Product Management
• Quality Assurance
• Written Communications
• Critical Thinking
• Data Governance
• Influence
• Reporting
• Strategic Thinking

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

$78,400.00 - $117,400.00 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.