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BMO · 2 weeks ago

Director - Pricing & Profitability

Chicago, IL, USA

Full-time

Onsite

Senior Level, Lead/Staff, Director/Executive

$137K/yr - $238K/yr

12+ years exp

BMO Bank N.A. is seeking a Director of Pricing & Profitability to collaborate with sales teams in setting and adjusting prices based on statistical models and market analysis. The role involves analyzing competitor pricing, developing pricing strategies, and presenting findings to executives to drive sales and enhance marketing efforts.

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Responsibilities

Works in collaboration with sales teams to set and adjust prices based on statistical models and customer psychology

Analyzes competitor pricing, assesses market share and margins, and tracks customer engagement to gain a complete picture of effective pricing strategies for product offerings and determine ideal target prices

Breaks down pricing structures and sales funnels of comparable competitor products and services to identify specific strategies used in developing pricing models

Presents analytical findings and recommendations to executives, marketing teams, and sales personnel to develop actionable strategies, tools, and techniques that drive sales and enhance marketing efforts

Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do

Ensures alignment between values and behaviour that fosters diversity and inclusion

Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through

Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders

Attracts, retains, and enables the career development of top talent

Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance

Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives

Develops an expert understanding of business/group challenges

Networks with industry contacts to gather competitive insights and best practices

Recommends measures to improve organizational effectiveness

May consult to or serve on various committees and task forces

Drafts strategic pricing plans and processes to improve existing product offerings

Helps determine business priorities and best sequence for execution of business/group strategy

Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals

Develops the business case by identifying needs, analysing potential options and assessing expected return on investment

Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution

Builds effective relationships with internal/external stakeholders

Ensures alignment between stakeholders

Acts as the prime contact for internal/external stakeholder relationships, which may include regulators

Defines business requirements for analytics and reporting to ensure data insights inform business decision making

Breaks down strategic problems, and analyses data and information to provide insights and recommendations

Coordinates the management of databases; ensures alignment and integration of data in adherence with data governance standards

Develops and applies the framework for databases; oversees database management in adherence with data governance standards

Monitors and tracks performance, and addresses any issues

Designs and produces regular and ad-hoc reports, and dashboards

Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives

Leads the development of the communication strategy focusing on positively influencing or changing behaviour

Collaborates across BMO to develop communications strategies and ensure consistency of messaging, in order to positively influence or change behaviour

Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution

Analyzes competitor pricing and other data to compare similar products and services

Recommends opportunities based on market trends and industry conditions

Identifies and recommends or defines ideal pricing structures and sales funnels for a portfolio of products in collaboration with sales and marketing teams

Drafts or supports the drafting of strategic pricing plans and processes to improve existing product offerings

Creates reports reflecting metrics and project status, objectives, and barriers to relevant stakeholders

Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO

Influences how teams/groups work together

Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems

Communicates abstract concepts in simple terms

Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives

Anticipates trends and responds by implementing appropriate changes

Broader work or accountabilities may be assigned as needed

Qualification

Pricing modelsAnalytical experienceStatistical analysisData driven decision makingIndustry knowledgeInfluence skillsVerbal communicationWritten communicationProblem solvingCollaboration skills

Required

Typically 12+ years of relevant experience and post-secondary degree in Business or a related field of study or an equivalent combination of education and experience

8 - 10 years of business experience or 3 - 5 years of experience after the completion of graduate business school - required

In-depth experience creating detailed pricing models - required

Verbal & written communication skills - Expert

Analytical and problem solving skills - Expert

Influence skills - Expert

Collaboration & team skills; with a focus on cross-group collaboration - Expert

Able to manage ambiguity

Data driven decision making - Expert