Product Managers (PMs) are key players in building great products and delivering them to our customers. The role offers many opportunities for someone who is data-informed, passionate about technology, and thrives in the challenge of communicating across multifunctional teams. However, because product management is still very much a nascent discipline in Brazil, hiring new team members at Nubank can be quite challenging.
This article will delve into what it means to be an effective product manager at Nubank and why it is such an essential job in our organization.
What does a Product Manager do at Nubank?
Product Managers are in charge of building products with the team to achieve main business objectives and solve customers’ needs. In summary, they are responsible for the speed and quality of the team’s decisions to maximize impact. Product Managers are involved in every stage of a product’s life cycle.
Scope of Work
The scope of Product Managers at Nubank is split into the following main blocks:
- Problem definition: Start by asking why. Why are we building this product? What is the problem we are trying to solve? What job are customers hiring us to do? What are the customers’ pain points? Is the problem aligned with Nubank’s vision? How big is this problem? Why is this a problem? Why is it important to solve? What happens if we don’t solve this problem?
- Define the product: What is the product we want to build to solve the identified problem? Who is going to use it? What hypothesis are we validating? How do we know if it is successful? Is this product feasible and viable? Does everyone involved in the development of this product understand the problems we want to solve?
- Development planning: We want to always deliver value to our customers, and this is why development planning is so important. Which MVP can we build to test if the problem can be solved? How can we deliver value incrementally? Which are the most important features to work on first? How will launch and release communication work? Do we have a rollout plan?
- Development support: We are always thinking a couple of steps ahead of potential issues and trying to remove the obstacles from the team’s path. From providing product specification to covering missing functions, we do anything that needs to be done to deliver the product.
- Monitoring: After launching a new product, we need to make sure everything is working well. Are our services healthy? Is everybody comfortable extending the solution to more customers? What’s our rollback strategy?
- Measure results: What did we learn throughout development, launch, and monitoring? Did we solve the problem? Are customers using the product? Are they happy with our product? What are the improvements we need to make?
What is the difference between a Product Manager (PM), Product Operations (POps)?
Despite having similar titles and working closely to one another, there are a few big differences between their roles:
- Product Managers: focus on defining the problem and building a product that delivers a clear value proposition to the customer, it is technically feasible and it is economically viable;
- Product Operations: focus on the business strategy and the project management, taking care about the process and owning the relationship with third parties;
Want to know who represents the client’s voice and develop the product’s marketing strategy? Check out the Product Marketing Manager role.
What our Product Managers say:
“As Product Manager, you’re job is part execution – really working hands-on with the engineers, designers, business analysts, data analysts in the squad – and another part is strategy – meaning you’re responsible for coming up with a roadmap, a vision that makes sense based on all the data you have from the users and their feedbacks”Alyson Ahearn, Product Senior Director
“Good product managers excel in three different aspects. They are good listeners and have enough empathy to understand customers’ needs deeply. They are great communicators and can efficiently encapsulate those needs in a vision for the product while adapting their speech to different stakeholders. And finally, they bring focus to the team, which means PMs set clear goals (and link those goals to the business), keep the team’s work prioritized, and are constantly measuring products’ impact.”Gabriela Rojas, Product Director