Head of Product - Business Lending

Mercury•Portland, OR

1d•$289,700 - $362,100

About The Position

Mercury is seeking a Head of Product to lead its business lending initiative. This role involves defining product strategy, managing a team of product managers and lending specialists, driving growth, and ultimately being responsible for the business performance and P&L. The Head of Product will collaborate with credit, sales, and finance teams to increase originations while maintaining healthy approval rates, repayment performance, and loss outcomes. Mercury is a fintech company that offers banking services through partner banks.

Requirements

10+ years in lending or credit products, with significant experience in SMB, commercial, or business lending, and experience building and running teams.
5+ years leading and managing teams of product managers, including hiring, coaching, organizational design, and performance management.
Deep command of the full lending lifecycle: eligibility, application, underwriting and decisioning, funding, servicing, repayment, and collections — and the credit, risk, and compliance considerations at each stage.
A track record of owning a lending P&L and its levers: pricing, credit policy, capital structure, loss performance, and unit economics.
Experience launching and scaling 0-1 lending or credit products, ideally in a fintech or high-growth environment.
Experience working directly with bank partners, lending partners, or capital markets to structure and fund a lending business.
Sound judgment in a regulated, risk-sensitive environment, balancing customer experience with necessary controls.
A data-driven, experimentation-oriented approach.
Exceptional cross-functional leadership across product, underwriting, finance, compliance, and partners.

Nice To Haves

Great product chops.
Commercial instinct to grow the business.
Credit discipline to grow responsibly.
Equally credible on portfolio economics with finance, credit policy with underwriting, and product strategy with engineering.

Responsibilities

Own the business lending P&L and strategy, including setting multi-year product strategy, target segments, and growth plans against economic and credit targets.
Build and scale the lending organization by recruiting, developing, and leading a high-performing PM team, establishing strong product build discipline, developing future leaders, and creating an operating cadence and culture for rapid yet rigorous business operations.
Take lending products from initial concept to scale, including launching and growing term loans, lines of credit, and future offerings, and establishing an experimentation loop for post-launch growth.
Partner with credit, underwriting, and risk teams on credit policy, underwriting models, and eligibility criteria.
Manage capital and lending partners by working with finance, capital markets, and banking/lending partners to ensure adequate capitalization and scalable structure, and owning these relationships.
Balance growth with rigor by building a customer-loved lending business that meets the credit, risk, and compliance standards of a regulated product, making necessary tradeoffs between speed, customer experience, and controls.
Align the lending ecosystem by bringing together product, engineering, underwriting, risk, credit operations, data, compliance, legal, marketing, sales, support, and external partners to execute a cohesive lending strategy and achieve strong business outcomes.