SVP, Product Manager

PENNYMAC

Pennymac is (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.

At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.

A Typical Day

The SVP, Product Manager a high-impact individual contributor role designed for a practitioner who is equally fluent in quantitative finance and applied machine learning. The Senior AI Product Manager will own the end-to-end product lifecycle for capital markets AI initiatives—spanning discovery, roadmap definition, technical delivery, and benefits realization—while embedding deeply with trading desks, risk, portfolio management and capital markets operations. The role demands someone who can operate at the strategic altitude and engage with capital allocators and the technical depth of a machine learning engineer and or data scientist, translating complex desk workflows into production-grade AI solutions that deliver measurable impact on efficiency, risk posture, and revenue capture.

Responsibilities:

• Drive end-to-end AI product lifecycle across all capital markets workstreams—from discovery and requirements definition through development, testing, launch, and post-launch optimization.

• Manage a unified AI backlog spanning the full CM value chain; govern cross-pod dependencies, sequencing, and resource allocation with disciplined prioritization.

• Translate complex desk workflows and business problems into clear Product Requirement Documents, user stories, functional acceptance criteria, and success metrics.

• Drive build-versus-buy evaluations and manage vendor assessments for optimal delivery outcomes, including third-party AI platforms and LLM API integrations.

• Conduct structured market research and competitive intelligence to surface high-impact AI use cases across secondary markets, MSR operations, hedging, and pull-through forecasting.

• Embed with LOB stakeholders—desk heads, operations managers, and risk leads—to surface latent requirements and validate opportunity sizing before committing roadmap capacity.

• Integrate discovery findings into a sequenced, risk-adjusted roadmap aligned to organizational priorities, FHFA compliance posture, and available engineering capacity.

• Partner cross-functionally with engineering pods, data science, and the AI Accelerator team to ship automations and copilots aligned to desk workflows—daily hedge + P&L explain, exceptions triage, pull-through reforecast, and MSR valuation workflow assist.

• Drive experiment design standards, A/B testing frameworks, evaluation set construction, and benefit attribution methodology across all AI pods.

• Coordinate release trains and vendor integrations for shared infrastructure (LLM APIs, vector stores, evaluation harnesses, and MLOps tooling).

• Partner with compliance, legal, and data governance to ensure all AI solutions satisfy SR 11-7 model risk governance, explainability, and regulatory standards.

• Track and report benefits realization—hedge P&L improvement, pull-through accuracy, funding cost reduction, MSR mark accuracy—to leadership on a quarterly basis.

• Lead adoption telemetry, user training programs, and iterative improvement cycles post-launch; own the relationship between shipped products and demonstrated desk behavior change.

• Stay current on frontier AI techniques and industry trends; act as the internal subject matter authority on AI product development best practices.

What You’ll Bring

• Advanced degree in a quantitative discipline: MS in Data Science, Machine Learning, Statistics, Financial Engineering, or Computer Science from an accredited program.

• CFA charter holder or MBA from a recognized business school — the combination of rigorous quantitative training with structured financial or strategic thinking is central to this role’s remit.

• Preference given to candidates who hold both a quantitative MS and either a CFA or an MBA, reflecting fluency across the technical and capital markets dimensions of the role.

• 6+ years of combined experience in AI/ML product development and financial services — with demonstrated ability to operate across both domains, not merely adjacent to them.

• Prior background in financial services in one or more of the following: pricing analyst, quantitative PM at a mortgage fintech, MBS trader, capital markets risk analyst, or financial data scientist.

• Proven track record shipping enterprise AI solutions with measurable business impact in complex, regulated organizations at scale.

• Hands-on coding proficiency (Python preferred) sufficient to collaborate with engineering on experimental-to-production transitions, evaluate model outputs, and construct evaluation harnesses — not merely read dashboards.

• Deep understanding of LLM architectures, prompting strategies, RAG pipelines, context engineering, fine-tuning, MCP, and agentic frameworks.

• Experience with MLOps platforms, AI governance frameworks, and the full AI/ML lifecycle: development, deployment, monitoring, and enterprise integration.

• Ability to define evaluation sets, lead quantitative and qualitative iteration cycles, and distinguish signal from noise in model performance data.

• Strong mortgage industry knowledge: securitization mechanics, RMBS structure, capital markets workflow architecture, MSR valuation, hedging operations, and pull-through modeling.

• Familiarity with financial risk frameworks, model risk governance, and regulatory compliance considerations applicable to AI deployment in financial services.

• Strong PM foundation: ability to translate complex, ambiguous business needs into precise technical specifications, manage stakeholder ambiguity, and make defensible prioritization decisions under pressure.

Why You Should Join

As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do.

Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported.

Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include:

• Comprehensive Medical, Dental, and Vision

• Paid Time Off Programs including vacation, holidays, illness, and parental leave

• Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)

• Retirement benefits, life insurance, 401k match, and tuition reimbursement

• Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships

• We value the hard work and dedication of our employees. In addition to a competitive salary, positions may offer bonus opportunities.

To learn more about our benefits visit:

For residents with state required benefit information, additional information can be found at:

Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:

• Lower in range - Building skills and experience in the role

• Mid-range - Experience and skills align with proficiency in the role

• Higher in range - Experience and skills add value above typical requirements of the role

Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance.

Salary

$140,000 - $175,000

Work Model

OFFICE