Product Manager - Line of Credit

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Purpose Financial, Inc. is an innovative consumer financial services company that offers a diverse suite of credit products, promoting financial inclusion and meeting consumers wherever they are. Through its brands, the company is committed to helping customers achieve their version of financial stability in the moment and in the future. Since 1997, Purpose Financial has been a pioneer in the consumer credit and financial services market offering money solutions in over 800 storefronts locations and online lending.

Providing services in over 23 states, Purpose Financial employs over 2,500 team members.

At Purpose Financial we are always on the lookout for motivated individuals who share in our values of mutual respect to join our team of outstanding professionals.

We offer:

• Competitive Wages
• 401(k) Savings Plan with Company Match
• Company Paid Holidays
• Tuition Reimbursement
• Business Casual Environment
• Rewards & Recognition Program
• Employee Assistance Program
• Office in downtown Greenville that offers free parking, onsite gym, free snacks/drinks

The Product Manager: (P&L Management - Line of Credit) is responsible for ensuring the profitability and financial success of the Line of Credit 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. The focus of the role is on the performance of the existing Line of Credit Product as well as identifying and analyzing Line of Credit opportunities in other markets.

Financial & Product Strategy:

• 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.

Revenue & Cost Optimization:

• 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.

Cross-Functional Collaboration:

• 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..

Reporting & Data-Driven Decision Making:

• Provide regular financial performance updates and insights to senior management.
• Develop and present monthly, quarterly, and annual P&L reviews.

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

Demonstrated track record of a minimum of 3 years in consumer lending (preferably within the non-prime sector) or a related industry. Experience developing system level requirements is a plus.

• 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.

Sitting for long periods…