Product P&L Manager

Position Summary

The Product P&L Manager plays a pivotal role in steering the financial success of the company's short-term lending portfolio. This position demands an in-depth focus on analyzing product profitability, optimizing costs, enhancing revenue streams, and conducting thorough risk assessments. Collaborating integrally with teams in product analytics, data science, marketing, and finance, the Manager ensures that our lending products not only achieve their financial goals but also resonate with the broader strategic aims of the company.
 

Job Responsibility

Financial Analysis and Reporting:

• Conduct unit-level profitability analysis for each product and bridge the unit economics of each product (by state and channel) to the vintage and monthly portfolio PnL views. 
• Develop insights into “levers” of product profitability such as gross and net yields, loan amounts, terms, and extend learnings to monitor progress to budget and optimize financial performance. 
• Determine key levers to achieve (and exceed) budgeted profit margins considering the cost structure of each product.
• Produce monthly, quarterly, and annual PnL strategy reviews for each product.
• Identify trends and analyze variances from the budget to aid in project prioritization.

Product Strategy and Development:

• Collaborate with Product Analytics and cross departmental teams to design and implement profitable lending products.
• Assess market trends and competitor strategies to inform product pricing and features.
• Provide financial insights to support product roadmap and strategic decisions.
• Develop business models and/or better insights that better forecast impacts of proposed product design changes.
• Work with the marketing team to understand customer demand and desired value to inform product design features that drive customer adoption and retention.

Cost Management:

• Analyze and manage costs associated with product development and other relevant PnL expenses.
• Collaborate with the operations teams to optimize profit margins and influence acquisition and servicing cost strategies.

Revenue Enhancement:

• Provide data and/or insights to assist in the prioritization of product design features that increase revenue, including pricing adjustments and other activities executed on by product analytics.
• Collaborate with the marketing team on marketing efforts that drive customer adoption and retention.

Risk Management:

• Assess and mitigate risks associated with the lending products.
• Ensure compliance with regulatory standards and internal financial policies.

Stakeholder Collaboration:

• Prepare Communications of financial performance and insights for senior management and stakeholders.
• Work closely with cross-functional teams to achieve product and financial objectives.

Data-Driven Decision Making:

• Utilize data visualization tools (e.g., Tableau) to inform decision-making and monitor actuals to budget.
• Monitor key performance indicators (KPIs) and adjust strategies as needed in close collaboration with product analytics and data science teams.

Job Responsibilities Cont.

Education Required

Bachelor’s degree in finance, Economics, Business Administration, or a related field. A master’s degree or professional certification (such as CFA or CPA) is a plus.

Experience Required

Demonstrated track record of a minimum of 2 years in consumer lending (preferably within the non-prime sector), accompanied by a proven 3+ years of experience in leading functions and teams.

Knowledge Required

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.

Physical Requirements

Sitting for long periods of time; standing occasionally; walking; bending; squatting; kneeling; pushing/pulling; reaching; twisting; frequent lifting of less than 10 lbs., occasional lifting of up to 20 lbs.; driving and having access during the workday to an insured and reliable transportation; typing; data entry; grasping; transferring items between hands and/or to another person or receptacle; use of office equipment to include computers; ability to travel to, be physically present at, and complete the physical requirements of the position at any assigned location.
 

Competencies

Travel

less than 10%

Attire

Business Casual

Other

Must be eligible to work in the USA and able to pass a background check.