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Principal Product Manager

Chicago, IL | Denver, CO | Phoenix, AZ | Remote, US
About Caribou 

At Caribou, we care about giving people financial freedom so they can focus on what’s most important to them. Today, less than two percent of Americans refinance their auto loans despite drastic increases in the cost of new and used cars. We see huge potential to help folks reduce their monthly auto expenses, as well as increase the predictability of those expenses over time. We do this by building technology to pair customers with community banks and credit unions, and ushering them through the process quickly. On average, our drivers save $115/month on their car loans while protecting their investment long term. 

Caribou is led by leaders from the technology, automotive, and finance industries. We’re proud to be backed by a great team of investors, including QED Investors, Goldman Sachs, Moderne Ventures, Accomplice, Link Ventures, Motley Fool Ventures and others.

Mission

We are seeking (3) Principal Product Managers.  As we work to help consumers achieve financial freedom, these Principal Product Managers (PM) will own one of three core product domains—each aligned to Caribou’s growth flywheel:

  • Greatest Reach: Focused on marketing, partner distribution, and the consumer experience from site visit through loan application. Key operating metrics: Traffic, Traffic-to-Sent-to-Lender Conversion, and CAC. Success is driven by developing partner integrations, enabling marketing channels, and innovating the funnel experience.
  • Simplest Process: Responsible for reducing internal and customer friction from application through funding by simplifying workflows, applying agentic AI, and optimizing contact center and support systems. Key operating metrics: Conversion, Net Revenue per Loan, and Variable Cost per Loan.
  • Lowest Payment: Owns the supply side of the marketplace, developing a competitive lending ecosystem with broad lender participation, ample liquidity, and competitive offers. Also responsible for monetization via well-priced, high-attachment cross-sell products. Key operating metrics: Prequal Rate, Net Revenue per Loan, and Funding Conversion Rate.

While the areas differ, each role is mission-critical to Caribou’s three-sided marketplace of Lenders, Consumers, and Distribution Partners. The Principal PM acts with a general manager mindset—crafting vision, managing the roadmap, and leading execution. This role requires deep user empathy, strong cross-functional collaboration, and a focus on measurable impact.

This role may work remotely from a state where Caribou operates with a preference for the Chicago IL, Denver, CO, or San Francisco, CA markets.* Alternatively this role can be based out of our Caribou office in Denver, CO.

Common Outcomes for All Principal PMs

Connect Product to Company Strategy

  • Establish a clear, outcome-oriented product vision aligned to company goals.
  • Maintain a product operating rhythm with a multi-quarter roadmap balancing fast iteration with long-term value.

Deliver High-Impact Products

  • Partner closely with Research, Design, Usability, and Engineering to build user-centered, outcome-driven products.
  • Prioritize rigorously using data, experimentation, and modern product processes.
  • Drive execution excellence from vision to launch, ensuring delivery is measured, efficient, and outcome-focused.

Lead Scalable Experimentation & Optimization

  • Build and scale lean, data-visible product development workflows.
  • Cultivate a culture of high-velocity learning through rapid iteration and structured testing.
  • Improve conversion, funnel performance, and product decision quality via continuous experimentation.

Role-Specific Outcomes

Lowest Payments PM

  1. Build for Scale
    Ensure internal tools, lender integrations, and APIs scale to support 4x loan volume over 24 months—without compromising reliability, compliance, or experience.
  2. Double Submit-to-Fund Conversion
    Expand lender participation across the credit spectrum. Optimize routing, prequal logic, and decision-engine infrastructure. Partner deeply with the Lending team to maximize fund rates.
  3. Grow Revenue per Loan by 30%
    Optimize lender bounty, cross-sell pricing, and attachment. Identify backend improvements that increase revenue while maintaining a strong user experience.

Simplest Process PM

  1. Double Conversion by Reducing Friction
    Eliminate unnecessary data entry, reduce touchpoints, and streamline the experience from application to funding.
  2. Lower Variable Labor Cost per Loan by 70%
    Leverage automation, AI, and CCaaS tools to minimize manual tasks and improve workflow efficiency.
  3. 3x Contribution Profit per Loan with Sales & Ops
    Collaborate across teams to simplify human touchpoints when required. Build tools that enable scalable, low-skill, high-effectiveness support interactions.

Greatest Reach PM

  1. Scale to 4x Lead Volume
    Build a scalable platform that supports increased traffic, rapid partner integration, and channel expansion. Enable fast-deploy consumer experiences and foundational customer data infrastructure.
  2. Double Conversion through Personalization & Routing
    Improve targeting, routing, and top-of-funnel experiences. Use data to drive 3x contribution profit per loan.
  3. Increase Revenue per Loan by 30% via Cross-Sell
    Develop monetized cross-sell products with high attachment and trust. Design seamless UX with smart routing to AI or human support that boosts value and conversion.

Competencies

Caribou Values

  • Give a Damn – Deep ownership of outcomes for customers, partners, and Caribou.
  • Velocity – Prioritizes speed with direction. Acts with urgency, ships fast, iterates.
  • Make the Assist – Collaborates across teams. Removes blockers. Aligns priorities. Synthesizes complexity for ICs and execs alike. Remains calm and focused under pressure.

Role-Based Skills

  • Curiosity & Tech Exploration – Explores and adopts emerging technologies (especially AI) to improve both product development and personal workflows.
  • Technical Fluency – Interfaces deeply with engineering and data. Understands technical trade-offs and brings system-level thinking to product strategy.

Experience

  • 8+ years in product management roles, preferably in technology-driven companies.
  • Background in Computer Science, Engineering, or a related field; top-tier MBA a plus.
  • Experience in marketplace businesses and/or fintech/lending strongly preferred.
  • Demonstrated track record applying AI to prod

How we will take care of you

Everyone at Caribou is a valued team member. Our compensation and benefits package includes:

  • Competitive compensation: $173k - $217k
  • Eligible for annual performance based bonus
  • Equity options
  • 401k savings program
  • Generous paid time off including: Flexible Time Off (FTO) for all employees and 100% paid parental leave for all parents.
  • Robust wellness benefits including company-paid plans for health, dental, vision, mental health, disability and basic life insurance.
  • Optional benefits to suit your individual circumstances such as HSAs, FSAs, supplemental life and medical insurance, and pet insurance.
  • Up to $1,000 per year for eligible professional development expenses.
Our Core Values

We come from all walks of life and are joined together by our shared values, which guide our work and how we work together. 

  • Give a damn. What we’re doing matters. We show up determined to deliver results, and we love it.
  • Velocity. We’re intentional about where we’re going and we race towards it.  
  • Make the assist. We have diverse strengths. We offer and ask for help so we all win.  

Caribou is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, sexual orientation, pregnancy status, marital status, military or protected veteran status, genetics, or any other characteristic protected by law. This position is not restricted solely to the responsibilities listed above, and the scope and responsibilities are subject to change. A pre-employment background check is required as a condition of employment.

*Caribou does not currently have employee operations in AL, AK, AR, CT, DE, GA, HI, IA, ID, IN, KS, KY, ME, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, PA, RI, SC, SD, TN, UT, VT, WV, WY.

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