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Product Innovation Consultant

Bank of America | Newark DE 19726 USA | Full Time | Posted: 08/09/2022

Job Descriptiontop

Job Description:

Do you want to drive real innovation and long-term transformational growth for a suite of products used by over 67 million Americans AND have fun creating totally new products that will meet the emerging financial needs of tomorrow s customer?

The Product Strategy and Transformation Team is responsible for just that developing and delivering customer-centric strategies and innovative solutions that meet our customers current and emerging financial needs with the goal of driving significant increases to customer engagement and revenue.

The team is accountable for leveraging customer and competitive insights to understand the highest priority current and emerging customer needs and then developing solutions that meet those needs across the bank s Retail, Preferred, Small Business, and Wealth segments.

This Product Innovation Consultant role reports to the Head of Product Innovation and will be responsible for both creating the capability to innovate rapidly (helping to stand up an innovation process and creating the innovation playbook) as well as leading new customer-centric innovation initiatives through the phases of innovation, starting with insights and ideation and ending with a fully formed new product that has been tested in the real world and can be handed off for scaled implementation across our platform.

Areas of Responsibility

  • Partner with lines of business to develop innovative products and features, marketing approaches and digital experience enhancements for target segments
  • Lead the creation and delivery of a robust, intuitive innovation capability facilitate exploration and ideation around core product offerings and customer segments, prioritize and size opportunities, rapidly prototype and test ideas, and deliver fully formed new products for scaled implementation across our platform
  • Create a playbook and support materials to educate partners across product teams, digital organizations, and business channels and simplify engagement across teams
  • Facilitate collaboration and coordination to explore and prioritize opportunities
  • Leverage customer and competitive insights as an input to idea exploration and workshops to organize and prioritize opportunities aligned to segments and audiences
  • Measure customer demand and better understand current and emerging client needs by creating and executing tests to deliver learnings and results in various environments
  • Help deliver customer-centric innovation initiatives end to end to develop solutions that enable Bank of America to differentiate itself and dominate in the marketplace
  • Formalize ideas and service concepts into compelling, profitable and differentiated value propositions by scoping, measuring benefits and value for customers, completing competitive benchmarking, developing a go-to-market strategy, etc.)

Role Requirements

  • 3-5 years delivering results in financial services, fintech, direct to consumer marketing, or management consulting
  • Experience leading ideation and innovation processes or working sessions a plus
  • Outstanding communication and presentation skills (both verbal and written), able to concisely summarize key observations, clearly articulate considerations, and propose solutions and next steps
  • Strong ability to collaborate and engage across functions and business lines and build strong working relationships with business partners at all levels of management be someone others want to work with
  • Understanding of digital / product touch points in consumer finance with a broad knowledge of digital best practices and strategies in the industry
  • Strong passion for technology, industry awareness, and ability to think big and imagine products and features that can help consumers in their everyday digital financial lives
  • Exhibits a strong drive for results and success, demonstrates a sense of urgency to achieve outcomes, and routinely exceeds expectations

Job Band:



1st shift (United States of America)

Hours Per Week:


Weekly Schedule:

Referral Bonus Amount:


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Location Newark, DE, 19726, United States
Categories Telecommunications

Location Maptop

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Job Code 22056724

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