Product Manager - Payday

About the position

The Product Manager: (P&L Management - PayDay) is responsible for ensuring the profitability and financial success of the PayDay Loan Product. This role collaborates closely with operations, data science, and state leaders to drive product performance and achieve P&L targets by taking a hypothesis or opportunity from ideation through validation, requirements drafting, and management of the initiative through fruition. Key responsibilities include optimizing product design, acquisition strategies, credit risk, and operational efficiencies to maximize contributions. A primary focus of the role is the research and development of 'PayDay Alternative' Loan products.

Responsibilities

• Lead P&L management for assigned products, ensuring alignment with financial goals and company strategy.
• Conduct competitive and market analysis to inform product pricing, loan amounts, terms, and refinance/draw frequency.
• Collaborate with state operational leaders to tailor strategies for specific markets.
• Analyze unit-level profitability and bridge findings to monthly portfolio performance.
• Identify key levers to maximize revenue and control costs, influencing acquisition, servicing, and operational efficiencies.
• Monitor product performance against budget, adjusting strategies to exceed profit margins.
• Partner with data science to refine credit risk models, cutoffs, and fraud controls.
• Work with marketing on acquisition strategies, including direct mail, branch calling, and lead generation.
• Align with collections teams to develop unique strategies based on delinquency buckets and collectability scores.
• Collaborate with Hispanic and Purpose Money teams to design cross-sell opportunities and integrated product offerings.
• Coordinate with tech scrum teams to implement product enhancements.
• Provide regular financial performance updates and insights to senior management.
• Utilize data visualization tools (e.g., Tableau) for informed, data-driven decision-making.
• Develop and present monthly, quarterly, and annual P&L reviews.

Requirements

• Bachelor's degree in finance, Economics, Business Administration, or a related field, or equivalent relevant experience.
• Demonstrated track record of a minimum of 3 years in consumer lending (preferably within the non-prime sector) or a related industry.
• Minimum of 3 years of experience in financial analysis, product management, or a related field, preferably in the consumer lending or financial services industry.
• Strong analytical skills with the ability to interpret complex financial data.
• Proficiency in financial modeling and data analysis tools.
• Excellent communication and presentation skills.
• Ability to work collaboratively across teams and with senior management.

Nice-to-haves

• A master's degree or professional certification (such as CFA or CPA) is a plus.
• Experience developing system level requirements is a plus.

Benefits

• Competitive Wages
• Health/Life Benefits
• Health Savings Account plus Employer Seed
• 401(k) Savings Plan with Company Match
• 3 Weeks of Paid Parental Leave
• 11 Company Paid Holidays
• Paid Time Off including Volunteer Time
• Vacation Carryover
• Tuition Reimbursement
• Work-Life Balance
• Business Casual Environment
• Rewards & Recognition Program
• Employee Assistance Program
• Office in downtown Greenville that offers free parking, onsite gym, free snacks/drinks (for those working onsite or hybrid)