PF
Product Manager - PayDay
full-time•Greenville
About this role
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
- Paid Parental Leave
- Company Paid Holidays
- Paid Time Off including Volunteer Time
- Tuition Reimbursement
- Business Casual Environment
- Rewards & Recognition Program
- Employee Assistance Program
- Office in downtown Greenville that offers free parking, onsite gym, free snacks/drinks
To learn more about Purpose Financial visit Purpose Financial Website.
Position Summary
The Product Manager, Payday Loans 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.
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, etc.
- Collaborate with state and central 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 and data science 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.
- Utilize data visualization tools (e.g., Tableau) for informed, data-driven decision-making.
- Develop and present monthly, quarterly, and annual P&L reviews.
- Accountability: Understand, adhere to, and enforce all corporate policies.
Job Responsibilities Cont.
Education Required
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.
Experience Required
Demonstrated track record of a minimum of 3 years in consumer lending within the Payday Loan sector. Experience developing system level requirements is a plus.
Knowledge Required
Excellent written and verbal communications skills; adaptability and flexibility to a changing environment; and comfortable working in a dynamic, high volume, fast-paced environment. Ability to understand and ensure compliance with policies, procedures, and laws governing our industry/business and products.
- 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
OKR
Travel
less than 10%
Attire
Business Casual
Other
Must be eligible to work in the USA and able to pass a background check.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or disability.
Requisition ID: 45943
What you'll do
- The Product Manager for Payday Loans is responsible for ensuring the profitability and financial success of the product by managing P&L, conducting market analysis, and collaborating with various teams to optimize product performance. This role involves driving product initiatives from ideation through validation and implementation.
About Purpose Financial
An innovative consumer financial services company, Purpose Financial is dedicated to helping our customers achieve financial stability — whatever that looks like for them — both in the moment and in the future.
Through our consumer brands, Advance America and Purpose Money, we provide accessible borrowing options and connect consumers with a streamlined, digital banking solution to meet the demands of modern living.
We are proud to be recognized as a Great Place To Work®. This employee-validated certification is a testament to our commitment to fostering a positive, inclusive, and supportive work environment. Our team members are at the heart of everything we do, and their vote of confidence highlights our dedication to creating a workplace where everyone can thrive.
We’re always looking for people who are passionate about helping others. Visit our website to learn more and see if you’re a good fit!
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Frequently Asked Questions
What does a Product Manager - PayDay do at Purpose Financial?
As a Product Manager - PayDay at Purpose Financial, you will: the Product Manager for Payday Loans is responsible for ensuring the profitability and financial success of the product by managing P&L, conducting market analysis, and collaborating with various teams to optimize product performance. This role involves driving product initiatives from ideation through validation and implementation..
Is the Product Manager - PayDay position at Purpose Financial remote?
The Product Manager - PayDay position at Purpose Financial is based in Greenville, South Carolina, United States. Contact the company through Clera for specific work arrangement details.
How do I apply for the Product Manager - PayDay position at Purpose Financial?
You can apply for the Product Manager - PayDay position at Purpose Financialdirectly through Clera. Click the "Apply Now" button above to start your application. Clera's AI-powered platform will help match your profile with this opportunity and guide you through the application process.