Product Manager, SMB Credit Platform

TitleProduct Manager, SMB Credit PlatformReports ToHead of ProductLocationNYC preferred, remote US acceptableTypeFull-TimeAbout Rail AIRail AI is a balance-sheet-as-a-service platform rebuilding how small businesses access credit. We originate 8 SMB credit products through 5 distribution channels, warehousing all receivables through a single SPV. The platform is built on a composable vendor stack with a dedicated decisioning orchestration layer, a CRM-based LOS, a third-party LMS for servicing, and a nationally chartered BIN sponsor for the card programs.Role SummaryThis role owns the entire internal technology and vendor infrastructure that powers all credit products from application intake through collections and warehouse reporting. You will work closely with the CEO, Head of Product, Head of Underwriting, Head of Technology, and capital markets leadership to translate business requirements into production infrastructure. Beyond domain-specific ownership, you will manage all vendor relationships across the platform stack, contribute to platform P&L management, own business logic implementation, and carry the standard PM responsibilities: roadmap prioritization, requirements definition, cross-functional program management, and stakeholder alignment.You will be the lead PM for decisioning orchestration, fraud and identity verification, credit policy and scorecard implementation (note: credit policy itself is owned by the Risk function; this role implements policy into production systems), merchant and borrower boarding, loan management and servicing across both amortizing and non-amortizing products, payment processing across two distinct collection architectures (direct ACH and platform-routed), card program infrastructure, collections workflow, syndication payment waterfall tracking, and warehouse lender reporting.Ownership ScopeDecisioning & OrchestrationOwn the decisioning orchestration platform end-to-end: workflow design, rule configuration, vendor node integration, version control, and production monitoringManage all vendor integrations within the decisioning layer: KYC and identity verification, synthetic fraud detection, KYB/business verification, bureau aggregation (consumer + commercial), bank statement connectivity, PDF statement parsing (fallback), device intelligence, ACH return risk scoring, MCA/RBF stacking pre-screen, and AI underwriting modelsSupport two distinct underwriting paths: merchant-as-obligor (marketplace/ISO products) and buyer-as-obligor (embedded net terms and factoring), each with different data sources, knockout filters, and scoring modelsDefine and maintain decisioning SLAs, fallback logic, and waterfall routing across all vendor nodesFraud, Identity & Compliance InfrastructureOwn FRAML and transaction monitoring integration across all products including both card programs (marketplace Card MRPA and embedded charge card)Drive BSA/AML vendor procurement and oversee implementation. The vendor must cover both lending activity and deposit account monitoringCoordinate with the outsourced compliance function on platform-level compliance requirements, CFDL disclosure generation for term loans and LOC, and audit readinessCredit Policy & Scorecard ImplementationCredit policy is owned by the Risk function. This role is responsible for implementing policy into production systems, not authoring or approving policy changes.Translate the Master Credit Policy and all subsidiary policies (pricing, early payoff, collections, charge-off, ISO management) into executable decisioning logic within the orchestration platformOwn scorecard implementation and calibration in partnership with Head of Underwriting and AI underwriting partnerImplement cross-product exposure limits and circular financing controls (e.g., combined factoring + card exposure caps, simultaneous utilization flags)Manage threshold tuning, policy exception workflows, and approval matrix configurationLOS, LMS & ServicingOwn LOS configuration for loan origination workflows, pipeline management, and reporting across all products and channelsOwn LMS for servicing, payment processing, portfolio management, and accounting across all product typesSolve the RBF/Card MRPA servicing gap: the primary LMS has no native factor rate engine. You must build or procure the external calculation layer for factor rate tracking, variable daily holdback, cumulative collection against RTR, estimated payoff date, and early payoff discount scheduleSolve the revolving draw gap: the primary LMS does not natively support revolving draw/repay/re-draw mechanics for the line of credit or factoring LOC. You must define the parent-child account architecture (line as parent, each draw as child) and build or procure the external layerSolve the two-party record structure: net terms and factoring require dual-obligor tracking where the seller is the customer but the buyer is the obligor whose payment performance is tracked. The LMS must support this without conflating the twoOwn card transaction feed ingestion from the card issuer/processor into the LMS for balance tracking, billing cycle management, interchange revenue calculation, and statement generationOwn ACH orchestration integration for all direct-debit products and buyer collections on embedded productsSyndication & Participation TrackingOwn the LMS configuration for multi-investor participation tracking: N investors per deal, each with different ownership percentages and commission structuresImplement the automated payment waterfall: management fee deduction, pro-rata investor allocation, return hurdle tracking, and profit participation split per collection eventDefine investor reporting: daily collection summaries, monthly investor statements, running IRR calculations, and read-only portal accessCard Program & Bill Pay InfrastructureOwn the technical integration with the BIN sponsor for both card programs: marketplace Card MRPA (commercial prepaid, just-in-time funding per swipe) and embedded charge card (net-30, pay in full)Own the bill pay routing waterfall: virtual card when vendor accepts Mastercard (interchange earned), ACH when vendor does not, mailed check as fallback. Integrate OCR/AP vendor for invoice processing and vendor payment preference matchingCoordinate card program infrastructure requirements with transaction monitoring and BSA/AML compliance vendorsWarehouse Reporting & ComplianceOwn the data pipeline from LMS to warehouse lender: daily outstanding receivables by product type, delinquency buckets, collection ratesGenerate monthly borrowing base certificate data: eligible vs. ineligible receivables with reason codes, concentration limit compliance across all asset types, performance covenant metrics (60+ DPD rate, net loss rate, gross excess spread, WA factor rate)Produce vintage-level cumulative loss and collection curves by origination month, product type, channel, and risk gradeOwn backup servicer integration and reporting requirementsCollections & RecoveryOwn the collections technology workflow: in-house tooling for 0-30 DPD, first-tier agency integration for 31-60 DPD, and second-tier agency handoff for 61+ DPDHandle two collection architectures: direct ACH debit (marketplace/ISO) and platform-routed collections (embedded products where the buyer pays through the platform)Define escalation triggers, automated outreach sequences, ACH re-presentment logic, and reporting across all collection tiersMerchant Boarding & OnboardingOwn the end-to-end boarding workflow from application submission through funding across all channelsDefine and optimize the automated boarding pipeline: KYB verification, UBO identification, bank account validation, document collection, UCC-1 filing, and e-signatureOwn boarding SLAs and conversion funnel metricsQualificationsRequired5+ years in product management at a fintech lender, specialty finance company, or lending infrastructure platformDirect experience owning a decisioning or underwriting platform (proprietary or third-party orchestration)Hands-on experience with at least one LMS/LOS implementation or migration in a lending contextWorking knowledge of multiple SMB credit product structures: must understand the servicing differences between amortizing loans, factor-rate products, revolving facilities, and charge cardsExperience managing vendor integrations across identity, fraud, bureau, and bank data providersComfort reading and writing API specifications; ability to work directly with engineering on integration architectureUnderstanding of credit policy translation from written policy to executable logicStrongly PreferredExperience solving non-amortizing servicing problems (RBF, MCA, factor rate products) on platforms not purpose-built for themExperience with multi-product servicing on a single LMS (not just one product type)Experience with decisioning orchestration platforms, FRAML vendors, identity/fraud providers, or lending-specific LMS platformsFamiliarity with warehouse lending compliance requirements (borrowing base certificates, concentration limits, backup servicer reporting, data tape production)Experience implementing or managing a commercial card or charge card program with a BIN sponsorExperience with syndication or loan participation tracking and investor reportingBackground in collections technology and recovery workflow automationExperience configuring a CRM-based LOS for lending workflowsFamiliarity with BSA/AML compliance tooling and SAR filing workflowsNice to HaveExperience at a platform lender or embedded lending provider (headless/API-first model)Familiarity with trade credit / factoring / invoice finance servicingFamiliarity with ABS takeout processes and rating agency data requirementsExperience with AI/ML underwriting model deployment and monitoringSQL proficiency for ad hoc portfolio and pipeline analysis