Sr. Product Manager (Credit, Cash Advance, Lending) - Alt

📋 Description

• • Alt is at the forefront of unlocking the value within alternative assets, beginning with the burgeoning $5 billion trading card market. We provide collectors with a comprehensive platform to buy, sell, vault, and finance their cards seamlessly. Our vision is supported by prominent investors including Stripe, Coinbase, Seven Seven Six, and notable athletes like Tom Brady and Giannis Antetokounmpo. Our immediate strategic focus is on achieving real-time pricing at scale through 'Alt Value,' the engine that underpins every trade, loan, and product on our platform.
• • The cash advance and lending products at Alt are rapidly evolving into significant revenue streams. To accelerate this growth and ensure robust performance, we are seeking a Senior Product Manager to take full ownership of our end-to-end credit system. This encompasses the entire lifecycle from underwriting logic and risk thresholds to expected-loss modeling, decisioning speed, the borrowing experience, and all associated operational workflows for fund disbursement and repayment.
• • This pivotal role operates at the dynamic intersection of credit risk management, sophisticated financial modeling, intuitive product design, and efficient operational execution. You will collaborate closely with our Pricing (Alt Value), Data Science, Finance, and Customer Experience (CX) teams to architect and refine a world-class credit engine. The goal is to deliver rapid liquidity to our customers while rigorously maintaining strong portfolio performance and mitigating risk.
• • While deep quantitative expertise is not a prerequisite, a strong comfort level with underwriting fundamentals, expected-loss vs. actual-loss modeling, Loan-to-Value (LTV) logic, and risk control mechanisms is essential. Equally important is the ability to translate these complex financial concepts into clean, intuitive, and user-friendly borrower interfaces. Your responsibility will span both the sophisticated backend credit engine and the customer-facing user interface (UI) and user experience (UX) for our cash advance and lending products.
• • This is a high-impact position with direct ties to revenue generation, capital efficiency, and fostering customer trust. The existence of this role is driven by the critical need for fast, accurate underwriting and exceptionally seamless customer experiences within Alt's lending and cash advance offerings. As we expand our capabilities to accommodate larger loan sizes, a wider array of asset categories, and introduce additional financing products, a dedicated Product Manager is essential to own the credit decisioning engine and optimize both portfolio outcomes and customer liquidity.
• • Your core mandate will be to enhance the usable liquidity available to customers—manifested through a higher rate of accepted offers and completed loans—while simultaneously reducing overall losses and improving the accuracy of our underwriting models. You will be instrumental in shaping the future of credit within the alternative asset space.
• • Key areas of ownership include:
• • Credit Decisioning Engine: You will own the underwriting logic for both cash advances and loans. This involves partnering closely with Data Science to refine model thresholds, LTV caps, expected-loss calculations, and implementing effective override rules. A critical aspect will be improving the calibration between expected loss (EL) and actual portfolio performance, ensuring that our decisioning processes are not only fast and consistent but also scalable across diverse asset categories.
• • Cash Advance & Lending Product Experience: You will own the end-to-end borrower UI/UX, from initial application through offer acceptance, funding, and repayment. Your focus will be on enhancing clarity, building trust, and simplifying the borrowing journey. By reducing friction points and increasing completion rates for both cash advances and loans, you will drive greater customer engagement. Furthermore, you will develop features designed to encourage responsible and repeat borrowing behavior.
• • Portfolio Performance & Risk Management: You will continuously monitor key metrics such as loss rates, delinquency, utilization, and customer repayment behavior. Collaborating with the Finance team, you will work to maintain healthy profit margins and optimize capital efficiency. Implementing robust guardrails to mitigate adverse selection and enhance overall risk quality will be paramount. You will also be responsible for building insightful dashboards and reporting mechanisms to clearly communicate model health and portfolio performance.
• • Operational Workflows: You will oversee and optimize CX Ops workflows related to funding, repayment, manual review processes, and exception handling. The objective is to reduce operational overhead through intelligent automation and the implementation of clear, logical pathways. Ensuring these operational processes can scale effectively with increasing volume while maintaining stringent controls is crucial.
• • Roadmap & Execution: You will build and own the quarterly roadmap for cash advances and lending products. This requires aligning priorities and efforts across Engineering, Data Science, CX, Finance, Compliance, and Marketplace Operations. Clear communication of priorities and disciplined, cross-functional execution will be key to success.
• • The primary metrics you will influence include:
• • Northstar Metric: Risk-Adjusted Portfolio Performance, balancing high lending volume with model accuracy, low losses, and healthy customer repayment behavior.
• • Key Performance Indicators (KPIs): Offer Acceptance Rate (for cash advances), Lending Conversion Rate (for loans), Loss Rate vs. Expected Loss (EL) Calibration, Delinquency Rate (for loans), and overall Portfolio health and repayment behavior.
• • Success within the first six months will be defined by achieving higher offer acceptance and lending conversion rates without an increase in losses, significantly faster underwriting decisions (moving from hours to minutes), improved model calibration with reduced variance between expected and actual losses, a more intuitive borrowing experience that boosts customer trust and usage, and the establishment of clean, scalable operational workflows with minimal manual intervention, leading to predictable and stable portfolio performance directly linked to Alt Value.