VP/AVP Product Manager(Lending\Fintech Exp Mandatory)

1 week ago

Bengaluru, Karnataka, India InCred Financial Services Full time

About InCred

InCred was founded by Bhupinder Singh in 2016. InCred is credit for Incredible India. We use technology and data-science to make lending quick, simple and hassle-free. We believe traditional ways of lending can exclude those most in need because of outdated, rigid and often inefficient processes. At InCred, we have simplified the lending process with a sharp focus on serving our borrowers' unique needs and circumstances – offering our customers a truly superior borrowing experience.

Since its founding InCred has raised over Rs 2,000 Cr till date in funding from marquee investors such as Dutch development finance institution FMO, US-based asset manager Moore Capital, India, and Latin America-focused PE fund Elevar, and Alpha Capital, and lent more than Rs 31,500 Crores (nearly $4 Billion) in loans to individual borrowers, institutions, small and medium businesses till date.

Our interest earning portfolio ("AUM") for FY 24 was Rs 9,000 Cr and Profits Before Tax ("PBT") was Rs 423 Cr . We are now rated AA- and our risk performance in terms of NPAs is now considered best amongst peers. For more information, see this LinkedIn post

InCred's vision:

To create a trustworthy, transparent, and highest integrity financial institution that positively advances the socio-economic well-being of lower middle class to middle-class Indian households while protecting the interests of all stakeholders

Role:

As part of this vision, InCred's objective is to establish and significantly grow its secured loan against property and supply chain financing products portfolio - distributed via Direct Sales Agents, our own feet on street sales force and via 'anchor' partners in the case of supply chain finance.

As we go on a hiring spree (with over 1000+ 'feet on street' sales to be hired in the next 12 months), we are looking to do two things:

Loan Against Property

  1. Completely revamp our workflows and build for 'Bharat' with all its unique challenges (flaky internet, multitude of mobile phones, and digitally challenged customers AND sales force.
  2. Benchmark to street and make our product best in class in terms of customer convenience and easy for our feet on street sales and DSAs to sell
  3. Protect our IP and customer data and build from the ground up with sensitive data protected and available only on a "need to know" basis
  4. Our aim is to 10X our LAP portfolio (currently tiny at sub Rs 200 Cr ) in the next 18-24 months.

Anchor based Supply Chain Financing

  1. Be customer obsessed, benchmark our 1st workflow (which launches in May'24) to the market and build world class workflow that makes us the 'rational' choice in a highly competitive market and to scale this product based on continuous improvement and market feedback
  2. Our aim is to ensure this product stays relevant in size and grows 50%+ CAGR to stay at 7-10% of our overall portfolio size.

The perfect candidate i.e. our AVP/VP Product Manager would:

  1. Establish InCred as a major player and brand in the secured Loan Against Property product space
  2. Optimise and drive continuous improvement on our Anchor backed Supply Chain Finance product workflows to make us best in class in the market and unlock growth levers to ensure we grow 50%+ YOY
  3. Manage our already world class "Partnerships" business where we play the role of the balance sheet partner for a range of FinTechs. All interactions with FinTechs are via deep integration to our API suite from sourcing, to underwriting to disbursals and reconciliation.
  4. Coach and develop a group of APMs and PMs across the above 3 product lines

Key responsibilities:

  • Vision and alignment

The Product Leader will help craft, flesh out, and drive the long-term strategy, roadmap and operating plans towards making InCred achieve its goals as outlined above.

Build a strong market value proposition and evangelise the roadmap and operating plan within the company to iteratively drive strong alignment within diverse stakeholder groups.

  • Working backwards

He/She will be responsible for understanding and researching customer pain points, their expectations and existing gaps in the industry to come up with a stream of improvements and new product features, partner with department heads and key stakeholders for aligning on UX improvements, underwriting innovations, sales experiments and more to learn what works and doesn't as well as to double down on the winning experiments/strategy to scale the product(s).

  • Execution excellence

He/She will be responsible for prioritisation of items on the roadmap and pre-aligned operating plans - tracking delivery of agreed to deliverables from a product and engineering perspective.

This individual will raise the bar in his/her team for upfront product discipline (knowing the why and the what, tight vertical/MVP slicing of scope to deliver value fast) as well as for backend product discipline (product demos, documentation, ZERO bugs, NFR requirements)

  • Go-To market strategy and execution

He/She will be expected to work closely with internal stakeholders to align on go to market strategies and then drive relentless execution against our aligned strategy.

  • Leadership and development

He/She will be responsible for building, grooming and mentoring a high performance team of Product Managers and Associate Product Managers

  • Reporting

The Product leader will be reporting to the Chief Product and Technology Officer

The ideal candidate will have:

  • BTech/BE. MBA from a top business school strongly preferred
  • Total 8+ years experience with at least 6 years in product management and 2+ years in lending or Fintech industry
  • Experience in leading and mentoring product managers
  • Experience in building a secured financial services product would be a huge plus
  • Fintech lending experience, especially in an Indian context
  • Fantastic communication skills
  • Comfort with ambiguity and fast paced environment
  • Clearly demonstrable impact in past roles
  • Intellectual curiosity/agility
  • Grit / Resilience - someone who doesn't easily give up
  • A great attitude

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