Product Manager - Personal Loan

Address: 322 Rhett Street, Greenville, South Carolina, United States - 29601   

 

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
• 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 Holiday's
• 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)

To learn more about Purpose Financial visit Purpose Financial Website.

 

Position Summary

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

Job Responsibility

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.

Job Responsibilities Cont.

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 opportuni