Manager, Strategic Pricing

Address:

Management of the pricing process:

• Scope and specify the organizational information required for effective pricing
• Maintain pricing framework and process, support admin rate changes, address technical inquiries and support sales channel
• Synthesize analysis and present recommendations to senior management in an effective way to aid executives in making investment decisions
• Identify and oversee the design and execution of ongoing pricing programs designed to enhance pricing margin, leveraging competitive and systems capabilities insights, that are directed toward both new and existing customers to support the achievement of short- and long-term business objectives
• Accumulate pricing knowledge over time to drive increasingly valuable business insights
• Guide the setting and management of broker pricing policy for the product suite, including rate buy-down, discretion and exception management, in order to manage spreads and optimize growth and profitability in both the short and long term

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 behaviors in all that they do.
• Ensures alignment between values and behavior 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.
• Help drive the strategic thinking for the pricing of Home Financing products and assist with the advancement of customer-level pricing, risk/reward optimization strategies and the development of key capabilities that will optimize the profitability of BMO home financing products, delivering the desired customer experience and brand alignment
• Managing the pricing process for the most complex and important pricing initiatives and developing strategic pricing recommendations to be presented to senior leadership
• Manage pricing and profitability related data pulling, analytics and reporting to support decision making, P&L optimization and risk management
• Anticipate and respond with pricing strategies and tactics appropriate for changing market conditions, customer expectations, and regulatory requirements
• Achieve operational excellence through the design and execution of strategic and tactical pricing plans that are aligned with the business objectives and by ensuring all significant risks have been identified, assessed and appropriately managed or mitigated

• Qualifications:

• Typically between 6 - 8 years of relevant experience and post-secondary degree in Business or a related field of study or an equivalent combination of education and experience.
• 2 - 3 years of business experience - required.
• Strong analytical experience in management consulting, risk management, marketing analytics, or financial analysis - preferred.
• Strong experience creating detailed pricing models - required.
• Write queries using SQL, Power BI report building, working knowledge of other data management and report presentation tools -- preferred
• Advanced knowledge of MS Excel and PowerPoint - required
• Deep knowledge and technical proficiency gained through extensive education and business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.
• Data driven decision making - In-depth.

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.