Head of Product - Business Lending

About the role

Mercury is on a mission to create a banking-grade lending platform that fosters trust among businesses. We are in search of a visionary product leader who will be responsible for shaping the strategic direction, guiding a talented team, and driving the growth of our lending division. This position entails overseeing the complete lending product lifecycle and ensuring favorable P&L outcomes.

Key facts

What you'll do

• Take ownership of the P&L and develop a multi-year strategy for business lending, which includes product innovation, market segmentation, and setting growth objectives.
• Build and expand the lending division by attracting, nurturing, and leading a team of product managers.
• Initiate and grow Mercury's lending offerings, such as term loans and lines of credit, while establishing iterative experimentation processes to drive growth.
• Collaborate closely with teams in credit, underwriting, and risk management to define policies, models, and eligibility requirements.
• Cultivate and maintain relationships with finance, capital markets, and banking partners to ensure sufficient funding and scalability of operations.
• Strike a balance between growth ambitions and adherence to regulatory and risk standards, making informed trade-offs between speed, user experience, and necessary controls.
• Coordinate with various internal and external stakeholders, including engineering, operations, data analytics, compliance, and sales, to meet lending goals.
• Analyze market trends and customer feedback to continuously refine and enhance lending products and services.
• Develop and implement metrics to track the performance of lending products, ensuring alignment with business objectives.
• Foster a culture of innovation within the team, encouraging creative problem-solving and agile methodologies.
• Prepare and present regular updates on product performance and strategic initiatives to senior leadership and stakeholders.
• Ensure that all lending products comply with applicable regulations and industry standards, while also advocating for customer needs.

Requirements

• A minimum of 10 years of experience in lending or credit products, with a strong focus on small to medium-sized businesses (SMB), commercial, or business lending.
• At least 5 years of experience in leading and managing product management teams, including responsibilities for hiring, mentoring, and organizational structure.
• Comprehensive understanding of the complete lending lifecycle, encompassing eligibility, application processes, underwriting, decision-making, funding, servicing, repayment, and collections.
• Proven experience in managing a lending P&L, with a track record of influencing key drivers such as pricing strategies, credit policies, and loss performance metrics.
• Experience in launching and scaling new lending or credit products, particularly in a fintech environment or a rapidly growing company.
• Direct experience collaborating with banking partners, lending institutions, or capital markets to design and fund lending operations.
• Capability to balance customer satisfaction with regulatory compliance and risk management in a complex environment.
• A data-driven mindset with strong cross-functional leadership skills, particularly in product development, underwriting, finance, and compliance.
• Excellent communication and interpersonal skills, with an ability to engage and influence stakeholders at all levels.

Nice to have

• Familiarity with advanced data analytics tools and methodologies to inform product decisions.
• Experience in developing and implementing customer-centric lending solutions that enhance user experience.
• Knowledge of emerging trends in fintech and the competitive landscape of business lending.
• Previous experience in a startup or high-growth environment, demonstrating adaptability and resilience.
• Understanding of regulatory frameworks affecting lending practices and financial services.

Skills & tools

• Proficiency in product management tools such as JIRA, Confluence, or similar platforms.
• Familiarity with data analysis tools like SQL, Tableau, or similar for performance tracking and insights.
• Strong understanding of financial modeling and forecasting techniques.
• Excellent project management skills, with a focus on agile methodologies.
• Ability to utilize customer feedback and market research to drive product improvements.

Practical notes

Mercury operates as a fintech company, with banking services provided through Choice Financial Group and Column N.A., both members of the FDIC. The total compensation package includes a base salary, equity options (stock options/RSUs), and a comprehensive benefits package. Compensation offers are determined based on factors such as experience, expertise, geographic location, and internal pay equity. Mercury is committed to equal employment opportunities and provides reasonable accommodations for applicants with disabilities.

About the company

Mercury is a financial technology company that provides banking services designed for startups and growing companies. Founded by Immad Akhund in 2019, Mercury offers checking and savings accounts, corporate cards, and treasury management through partner banks.