Product P&L Manager
JOB 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 RESPONSIBILITIES
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 P&L 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 P&L 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 P&L 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.
Equivalent Education Level 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).
• Experience Analyzing &/or Managing Sub-Prime Line of Credit or Credit Card Products
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.
Travel: less than 10%
Attire: Business Casual
Other: Must be eligible to work in the USA and able to pass a background check.
Financial Services, Consumer Services, and Banking
Product Management, Finance, and Analyst
Full-time