Propelld - Senior Manager/Vice President - Product Management (5-10 yrs)
About the company:
- Propelld.com is a startup in the Education financing space backed by Stellaris Ventures, India Quotient, Indian Angel Network and Raghunandan (Taxiforsure). Founded by IIT, IIM, FMS alumni, the core team consists of strong finance and operations background from companies such as Credit Suisse, Deutsche Bank, New Silk Route, Schlumberger and Udaan. With an annual disbursal run rate of INR 500 Crores and NPAs below 1%, we are one of the best managed & quickest growing loan portfolios. With an untapped large potential of the Education market not just in terms of increasing Education spends but also wrt inefficient transactions of Education enablers, low penetration and non-existence of fin products and the opportunity of becoming the REAL first credit product for a Gen Z, Propelld is looking at building large value across the Education eco-system. Having achieved strong business fundamentals (turned EBIDTA profitable recently) we have also attracted the attention of blue-chip investors (PS: confidential until announced officially) with an eye towards listing within the next 3 years.
- Propelld's current product is a managed tech pipeline between Institutes and Lenders with many first of its kind innovations in partner sales enablement, credit journey, risk management, servicing and collections. From expanding our current offerings in larger Education markets to building exciting products around our vision of an eco-system play, at Propelld we always believe in both speed and innovation. We are looking for exceptional smart individuals to come onboard for the journey.
Role Description :
Propelld is looking for a Senior Product Manager who can OWN the Product function at Propelld.
Our current Product (credit enablement pipeline between Institutes and Lenders, 3 sub-products) along with the multiple new products in pipeline - requires a large team of Engineers to build & maintain.
This role is best suited to a Software Engineer turned Product Manager with an established track record in Product Management. Due to managerial responsibilities and the autonomy associated with this role, a junior candidate would struggle.
Resources for you to tap into:
1. 2x Product Managers who manage requirement gathering from all functions, prioritization, day-to-day execution of deliverables (can grow this team going forward)
Additional support/Indirect team:
1. CTO with 15 engineers - 2x Frontend, 8x Backend, 5x Tech-Ops and Quality (expected to grow to 2x the size in next 6 months)
2. Chief Operating Officer to provide guidance on the in's and out's of every part of the process
3. Chief Executive Officer/other co-founders for moral support
What would your day job involve:
A wise man once said "No two days are the same when you are a PM" - they are right, and we hope you are mature enough to understand this section is just a synopsis of your responsibilities.
Ownership of business outcomes:
You are expected to understand the existing product inside-out, figure gaps, pressing issues, areas for improvement, and plan out the product roadmap taking into account the short and long term business requirements.
Ownership of entire platform :
As the platform evolves over time, new products would be launched and new opportunities would emerge for existing products. You are expected to think ahead and visualize what the platform might look like in the future and direct your build accordingly. This will take a lot of imagination and extrapolation.
You would need to create hypothesis based upon data or Product instinct. You would see the hypothesis from ideation to design to engineering to production. The hypothesis must be built in collaboration with teams closest to customers.
Post production, you would be expected to run a retrospective to assess the success/failure of the experiment and document associated learnings. Projects could vary wildly given the need for experimental products for continuous innovation.
Ability to prioritize:
Infinite requirements. Finite bandwidth.
As a startup, Propelld has a limited amount of Engineering resources - where should we allocate these resources? - What does the data say? What does your Product instinct say?
You would need to balance bug fixes with new feature builds. You would need to know when to sunset some features and make that bandwidth available for others.
What frameworks do you use to assess cost to perceived benefit?
- Ability to break things down
- Small batches. Minimum Viable Product. Frequent deploys. Always.
- Examining data
Propelld collects a variety of user data.
You would be expected to take decisions on the above tasks based on data.
In the near future (~6 months out), you would be expected to recruit a Data Engineer/Data Scientist to support this build.
1. Equivalent of 5 or more years of experience in Product and/or Software Engineering at a startup (ideally having moved from a growth stage to a mature product)
2. Experience in managing a Product team (between 2 to 7 direct reports) is ideal
3. Analytical skill: The ability to form and test hypothesis using data from SQL queries, usage funnels, & other sources is a must. There will be no immediate support here.
4. Product Management skills: Experience of owning a product roadmap, prioritizing a sequence of feature builds and objectively measuring outcomes from Product decisions, having managed output from tech teams (ideally 10+ resources) is needed.
Nice to have :
1. 2+ years of experience as a Software Engineer at a Product Company
2. Any experience in financial services (lending, insurance or banking) is great but not required
Cash compensation of INR 30 - 40 LPA + Stock compensation between 10 – 30 L The above are indicative figures and can be discussed for the right candidate.
Message to the reader: This role is specifically designed for a mid-career professional who has demonstrated an ability to lead a function & own business outcomes. A candidate should ideally look at their role as a progression towards Vice President - Product
Since this role is considered within the 'management' band for Propelld - the candidate would be expected to support the CEO in management information reporting to the company's investors.