General Manager, Blend
Independent Mortgage Banks
+ Equity
Digital lending platform
Job no longer available
Digital lending platform
1001+ employees
Job no longer available
+ Equity
1001+ employees
Company mission
To provide better lending for everyone, streamlining the end-to-end customer journey for banking products.
Role
Who you are
- Bachelor’s degree in business, computer science, or related field (MBA preferred)
- 10+ years of experience in a senior management role including prior leadership experience as a general manager and/or head of product. Ideally within a publicly traded software or technology company
- Experience at or familiar with the banking industry, preferably with independent mortgage banks
- Proven track record of leading a business unit or division to achieve revenue and profitability targets
- Strong understanding of the software industry, including product development, go-to-market strategies, and customer engagement
- Demonstrated ability to lead cross-functional teams and manage complex projects in a fast-paced environment
- Excellent financial acumen with the ability to manage P&L and balance strategic and operational responsibilities
- Strong communication and interpersonal skills, with the ability to influence and collaborate across all levels of the organization
- Leadership: Proven ability to lead, inspire, and develop teams to achieve ambitious goals
- Strategic Thinking: Ability to think critically and make data-driven decisions to shape the future direction of the business
- Financial Acumen: Strong understanding of financial principles and P&L management
- Innovation: Ability to drive innovation within the business unit and bring new ideas to market
- Execution Excellence: Track record of delivering results and driving business growth
- Adaptability: Comfortable operating in a fast-paced, dynamic environment
What the job involves
- The General Manager (GM) will be responsible for overseeing the strategy, execution, and financial performance of the IMB business unit
- The role will encompass product, application engineering and IMB specific go-to-market teams along with other functions that are core to this role
- This individual will lead cross-functional teams, ensure alignment with the company’s overall vision, and be accountable for the unit's profitability, growth, and competitive positioning
- The GM will play a critical role in identifying market opportunities, driving innovation, and ensuring operational efficiency
- Strategic Leadership: Develop and implement the business unit’s strategy in alignment with the company’s overall goals. Lead long-term planning, market analysis, and growth initiatives
- Revenue and Profitability: Drive top-line revenue growth while managing costs to ensure profitability. Set and achieve financial targets, including revenue, margins, and cash flow
- Team Leadership: Lead, mentor, and develop a high-performing team across sales, marketing, product development, and operations. Foster a culture of collaboration, accountability, and innovation
- Product Development: Provide clear direction to R&D and product teams to guide the development and launch of new products. Ensure alignment with market needs and company strategy
- Customer Engagement: Build strong relationships with key customers and stakeholders. Ensure high levels of customer satisfaction and work to increase customer retention and lifetime value
- Operational Efficiency: Oversee day-to-day operations, ensuring smooth and efficient processes. Identify opportunities for operational improvements to drive efficiency and scale
- Risk Management: Monitor market trends, industry developments, and competitive landscape. Ensure that risks are identified, managed, and mitigated in line with company policies and procedures
- Collaboration: Work closely with corporate leadership to ensure that business unit objectives are aligned with the company’s overall goals. Act as a key liaison between the business unit and other departments (finance, HR, legal, etc.)
Our take
Recent years experienced a housing boom, with more than 13 million mortgages closing in the United States. This came despite restrictions limiting traditional ways of buying property. In short, the vast majority of housing deals were done online.
One of the companies fueling this upsurge was Blend, a digital banking platform with the aim of simplifying the mortgage process. The platform is used by major banks and financial institutions to offer mortgages and consumer loans, with Blend processing an average of $5 billion in transactions every day.
Due to the surge in demand, Blend’s revenue increased by 90% in the past few years. While we saw low-interest rates and a rise in demand for mortgage insurance, the demand for Blend’s services could wane if interest rates rise again. To counter any threats, Blend set out a "path to profitability" in 2023 that includes a 28% reduction in its employee base, a product suite enhancement sweep, and a shift in financial leadership.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 6 rounds)
Jan 2021
$300m
SERIES G
Aug 2020
$75m
SERIES F
Total funding: $665m
Company benefits
- Comprehensive health benefits
- Wellness program that covers a variety of activities, gym memberships, and more
- Partnerships to support all of life’s milestones: Origin Financial Wellness, Compsych Employee Assistance Program, RocketLawyer Legal Plan, and more
- Various leave programs including 16 weeks of paid parental leave with no tenure requirement
- Thoughtful, regular performance reviews
- Support for workshops and lectures to develop your craft
- Competitive compensation packages, meaningful equity, and 401(k) plan
- “Employee-first” environment, where most employees can work wherever they choose
- Flexible work schedule
- Open vacation policy
Company values
- Advocacy
- Authenticity
- Integrity
Company HQ
Chinatown, San Francisco, CA
Articles
Leadership
Nima Ghamsari
(Head)They studied Computer Science at Harvard before working for 4 years in Business Development and Engineering at Palantir Technologies. They left in April 2012 to co-found Blend in May.
Erin James Collard
(Board Director)Head trader at Peter Thiel's fund Clarium Capital Management, co-founded Blend and served as CFO for 6 years before stepping down.
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