Vice President, Product Owner

PENNYMAC; Weston (NC); On-site; USD 110,000 - 170,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

Paid time off

Wellness programs

401k match

Tuition reimbursement

Philanthropy programs

Bonus opportunities

Job summary

Pennymac, a leading mortgage lender, seeks a VP, Product Owner to manage high‑profile initiatives across its lending platforms. You will own vision, strategy, and backlog, guiding product development from ideation through launch and iteration.

You will drive AI/ML capabilities such as document processing, underwriting support, and chatbots, collaborating with stakeholders to ensure measurable outcomes in an Agile environment.

Qualifications

• Bachelor’s degree in CS, IS, related field or equivalent work experience.
• 5+ years of experience applying Agile methodologies.
• Proven success owning and delivering complex technology products or programs, preferably in an Agile environment.
• Hands-on experience defining requirements for and delivering AI/ML/NLP-powered products.
• Deep understanding of product management best practices, business analysis, process improvement, and AI/ML lifecycles.
• Proficiency with Agile/PM tools (JIRA, Confluence) and G-Suite.
• Strong data management concepts and database tech understanding; BI tools knowledge.
• Excellent communication and presentation skills with executives.
• Strong analytical, problem-solving, and strategic decision-making abilities.
• Collaborative, proactive, and able to work independently in a fast-paced environment.
• Experience in Financial Services, mortgage industry is highly desirable.

Responsibilities

• Define and champion product vision, strategy, and roadmap for the lending experience product area.
• Own end-to-end product lifecycle from ideation to launch and iteration.
• Leverage AI/ML capabilities to optimize mortgage workflows (e.g., document processing, underwriting support, chatbots).
• Engage stakeholders across units to align priorities and ensure product success.
• Translate business needs into clear goals, user stories, acceptance criteria, and requirements.
• Own, maintain, and prioritize the product backlog within an Agile framework.
• Participate in backlog grooming, sprint planning, and retrospectives with teams.
• Coordinate cross-department efforts to ensure seamless execution of initiatives.
• Serve as domain expert for end-to-end business functions; define measurable outcomes.
• Identify operational efficiencies and new processes related to the product.
• Create and maintain product documentation and communicate progress to leadership.
• Develop risk mitigation and contingency plans for AI models and data governance.
• Assist in planning and executing testing to meet final requirements and quality standards.
• Ensure product decisions align with strategic company initiatives (revenue/cost savings).
• Perform other duties as needed and demonstrate alignment with company values.

Skills

Bachelor’s degree

Agile experience

AI/ML product

Product mgmt

Data analysis

Stakeholder management

Communication skills

Analytical thinking

Independent work

Business acumen

Financial services

Mortgage domain

Education

Bachelor's degree in CS/IS/related

Tools

JIRA

Confluence

G-Suite

Snowflake/SQL Server/.NET

Job description

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 VP, Product Owner is responsible for managing complex, high-profile projects that involve multiple integrated business systems, interfacing across departments and/or divisions to accomplish strategic projects and activities. As the VP, Product Owner, you will serve as a key collaborator and thought leader across the division, driving innovation and change through expert product ownership, including the integration and optimization of AI/ML technologies.

The VPProduct Owner will:

• Define and champion the product vision, strategy, and roadmap for your designated product area within the lending experience, aligning with overall business objectives
• Own the end-to-end product lifecycle, from ideation, requirements definition, and prioritization through development, launch, and iteration
• Identify and execute opportunities to leverage AI, machine learning, and generative AI capabilities (e.g., intelligent document processing, automated underwriting support, customer service chatbots, predictive risk scoring) to optimize the mortgage workflow
• Engage and collaborate effectively with stakeholders across business units, technology teams, data science teams, and executive leadership to gather insights, align priorities, and ensure product success
• Translate business needs and market opportunities into clear, well-defined goals, user stories, acceptance criteria, and functional requirements using methodologies like use cases, process flows, and data analysis
• Own, maintain, and prioritize the product backlog, ensuring alignment with strategic goals and maximizing value delivery within an Agile (Scrum/Kanban) framework
• Actively participate in and contribute to Agile ceremonies (e.g., backlog grooming, sprint planning, retrospectives), collaborating closely with development teams, Tech Leads, Data Scientists, and UAT
• Drive complex, high-profile product initiatives by coordinating efforts across departments, interfacing with system developers, business subject matter experts, and project managers to ensure seamless execution
• Serve as a domain expert for the end-to-end business functions related to your product. Lead analysis efforts to identify current capabilities, opportunities for improvement, and define measurable outcomes
• Identify and drive the implementation of operational efficiencies and new business processes related to the product
• Create and maintain essential product documentation (requirements, process flows, reports). Communicate product strategy, progress, and outcomes effectively to senior management and other stakeholders
• Develop strategies for risk mitigation and contingency planning related to product development, AI model performance, data governance, and product launch
• Collaborate on the planning, oversight, and execution of testing phases to ensure product changes meet finalized requirements and quality standards
• Ensure product decisions align with broader strategic initiatives, including revenue opportunities or cost-saving measures identified by product and business leadership
• Perform other related duties as required and assigned
• Demonstrate behaviors which are aligned with the organization’s desired culture and values

What You'll Bring

• Bachelor's degree in CS, IS, related field, or equivalent work experience
• 5+ years of experience applying Agile methodologies
• Proven success owning and delivering complex technology products or programs, preferably in an Agile environment
• Hands-on experience defining requirements for and delivering products powered by AI, Machine Learning, or Natural Language Processing (NLP), preferably within document automation, workflow optimization, or predictive analytics
• Deep understanding of product management best practices, business analysis, process improvement, and AI/ML product lifecycle principles (e.g., model evaluation, training data requirements, prompt engineering)
• Proficiency with Agile/PM tools (JIRA, Confluence, or similar). High proficiency in G-Suite
• Strong understanding of data management concepts and database technologies; general understanding of software systems architecture; experience with BI tools, Snowflake/SQL Server/.NET, XML/EDI, GTM/Google Analytics is a plus
• Excellent communication (interpersonal, verbal, written) and presentation skills, with experience interfacing effectively with stakeholders at all levels, including executive management
• Strong analytical, critical thinking, problem-solving, and strategic decision-making skills with sound judgment
• Exceptional organizational skills, attention to detail, and ability to deliver accurate results in a fast-paced environment
• Proven ability to collaborate effectively within and across teams, influence without authority, and work independently
• Strong business acumen and strategic thinking capabilities
• Experience in Financial Services, particularly the mortgage industry, is highly desirable

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:

• 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:

https://pennymacnews.page.link/benefits

For residents with state required benefit information, additional information can be found at: https://www.pennymac.com/additional-benefits-information

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

$110,000 - $170,000

Work Model

OFFICE