Head of Product - Business Lending

About the role

This role involves leading Mercury's Business Lending division, focusing on defining and executing a multi-year strategy for lending products and customer segments. The Head of Product will be responsible for the division's P&L, ensuring growth targets are met while maintaining financial health. This includes deciding which products to build, how to grow originations, and managing the financial outcomes.

A key aspect of this position is building and scaling the lending organization. This means recruiting and developing a high-performing product management team, establishing disciplined product development processes, and fostering a culture that balances speed with rigor. The leader will take new lending products from initial concept to full-scale growth, implementing experimentation to compound their success.

Success in this role requires balancing growth with regulatory compliance and risk management. The Head of Product will collaborate with credit, underwriting, and risk teams on policy and models, and manage relationships with capital and lending partners to ensure the business is well-capitalized. This leader must align diverse internal and external stakeholders to achieve a cohesive lending strategy and strong business outcomes.

The base salary for US employees in this role ranges from $289,700 to $362,100 USD, with Canadian employees having a separate range.

Skills that matter here

• lending lifecycle: This role requires deep understanding of the entire lending process, from eligibility and application to servicing and collections, including associated credit, risk, and compliance factors.
• P&L ownership: The Head of Product will be directly responsible for the financial performance of the business lending division, managing its levers like pricing and loss performance.
• team leadership: This position involves leading and managing product manager teams, including hiring, coaching, and organizational design, with at least five years of prior experience in this area.
• 0-1 product launch: The role requires experience in launching and scaling new lending or credit products from their initial stages, ideally within a fintech or high-growth setting.
• bank/lending partners: The leader will work directly with bank partners, lending partners, or capital markets to structure and fund the lending business.
• data-driven approach: A data-driven and experimentation-oriented mindset is necessary for making decisions and driving growth.

Who this role suits

• A leader with over 10 years of experience in lending or credit products, specifically in SMB, commercial, or business lending.
• Someone who has successfully built and scaled a business lending organization, demonstrating strong product skills and commercial instinct.
• An individual with a track record of owning a lending P&L and managing its financial levers.
• A professional who can balance customer experience with the controls required in a regulated, risk-sensitive financial environment.

From the employer

Key responsibilities

• Own the business lending P&L and strategy: Set the multi-year strategy - which products to build, which segments to serve, how to grow originations against economic and credit targets.
• Own the numbers.
• Build and scale the lending org: Recruit, develop, and lead a high-performing PM team, strong product build discipline, develop future leaders, and establish the operating cadence and culture that allow a lending business to move quickly without sacrificing rigor.
• Take products from 0-1 to scale: Launch and grow Mercury's lending products - term loans, lines of credit, and what comes next, and build the experimentation loop that compounds growth post-launch.
• Partner with credit, underwriting, and risk on credit policy, underwriting models, and eligibility.
• Manage capital and lending partners: Work with finance, capital markets, and banking/lending partners to keep the business well-capitalized and structured to scale, and own those relationships.
• Balance growth with rigor: Build a lending business that customers love while meeting the credit, risk, and compliance standards a regulated product demands— making the hard tradeoffs between speed, experience, and controls.
• Align the lending ecosystem: Bring together product, engineering, underwriting, risk, credit operations, data, compliance, legal, marketing, sales, support, and external partners to execute a cohesive lending strategy and deliver strong business outcomes.

Some things that might make you successful in a role like this:

• We're looking for a leader who has built and scaled a business lending organization, with great product chops, the commercial instinct to grow it and the credit discipline to grow it responsibly, equally credible on portfolio economics with finance, credit policy with underwriting, and product strategy with engineering.
• 10+ years in lending or credit products, including significant time in SMB, commercial, or business lending, with experience building and running teams.
• 5+ years leading and managing teams of product managers, including hiring, coaching, organizational design, and performance management.
• Deep command of the full lending lifecycle: eligibility, application, underwriting and decisioning, funding, servicing, repayment, and collections — and the credit, risk, and compliance considerations at each stage.
• A track record of owning a lending P&L and its levers: pricing, credit policy, capital structure, loss performance, and unit economics.
• Experience launching and scaling 0-1 lending or credit products, ideally in a fintech or high-growth environment.
• Experience working directly with bank partners, lending partners, or capital markets to structure and fund a lending business.
• Sound judgment in a regulated, risk-sensitive environment: you balance a delightful customer experience with the controls a credit product requires.
• A data-driven, experimentation-oriented approach, and exceptional cross-functional leadership across product, underwriting, finance, compliance, and partners.

The total rewards package at Mercury includes:

• Base salary, equity (stock options/RSUs), and benefits.
• Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry.
• New hire offers are made based on a candidate’s experience, expertise, geographic location, and internal pay equity relative to peers.
• Our target new hire base salary ranges for this role are the following:
• US employees (any location): $289,700 - $362,100 USD
• Canadian employees (any location): 273,800 - 342,200 CAD
• Mercury values diversity & belonging and is proud to be an Equal Employment Opportunity employer. All individuals seeking employment at Mercury are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, gender identity, sexual orientation, or any other legally protected characteristic.
• We are committed to providing reasonable accommodations throughout the recruitment process for applicants with disabilities or special needs. If you need assistance, or an accommodation, please let your recruiter know once you are contacted about a role.