Principal Product Manager, Business Money – SMB Banking

About Gusto At Gusto, we're on a mission to grow the small business economy. We handle the hard stuff — payroll, health insurance, 401(k)s, and HR — so owners can focus on their craft and their customers. With teams in Denver, San Francisco, and New York, we support more than 500,000 small businesses nationwide and are building a workplace that reflects the people we serve. All full-time employees receive competitive base pay, benefits, and equity (RSUs) — because everyone who helps build Gusto should share in its success. Offer amounts are determined by role, level, and location. Learn more about our Total Rewards philosophy. AI is a fundamental part of how work gets done at Gusto. We expect all team members to actively engage with AI tools relevant to their role and grow their fluency as the technology evolves. AI experience requirements vary by role and will be assessed during the interview process. By the Numbers: • Named #1 best software for small business of 2024 by G2 • 2,700+ employees in the United States, Canada, Mexico, and Turkiye and growing • Over $500M in annual revenue • The SMB market is large (and growing!) with huge opportunities for Gusto to make an incredible impact for SMBs • There are 6.2M employers in the US, 98% have fewer than 100 employee • 550,000 new businesses are created each year in the US What Product Management is like at Gusto: • Our Product team is lean, which means you'll have a high degree of impact and ownership. We believe in smaller, empowered teams that move quickly with less overhead. You'll move fast by pairing sharp product judgment with fluency in AI tools — automating what slows teams down and amplifying what makes them creative and high-performing. • We're boundaryless builders. Lines between roles are intentionally blurred, and our PMs do whatever it takes to deliver outcomes. You'll prototype, automate, design, and ship — using AI as your co-builder to turn problems into durable solutions that deliver customer value with urgency and care. • We're here to serve small and medium businesses. Gusto has a strong mission-driven culture, and we care deeply about lifting up these business owners — building technology for an AI-first world that gives them the superpowers to run and grow their businesses with confidence. • We're comfortable with change. Our environment moves fast, and PMs here thrive in ambiguity — blending curiosity, experimentation, and AI-native craft to shape how products (and work itself) are built at Gusto. About the Team: Gusto's Business Money team is building the financial operating system for small businesses. SMB Banking is the foundation of that platform: business checking accounts that sit at the center of how owners run payroll, pay bills, manage cash, control employee spend, and, eventually, access capital. Because Gusto runs payroll, we can offer banking that understands a business's largest recurring outflow from day one, while we can also meet businesses at the moment of formation, before they ever reach the payroll stage. This is a ground-floor role. The product is early, moving toward its first beta, and this PM will help take it from initial launch through scale. Here’s what you’ll do day-to-day: • Own and deliver core workstreams spanning small business banking - application and identity verification, account linking, funding, payments, cards, ongoing servicing, and exposing these products/capabilities on surfaces a customer wishes to engage. • Own growth and adoption end to end from acquisition through funded, active account, and then run continuous experimentation across the funnel. • Take responsibility for the business outcomes of your workstream as a true owner. • Be the fintech infrastructure and payments expert that reliably untangles complexity and ships durable systems. • Use Gusto's unique payroll ecosystem to build banking features unique to our positon in the ecosystem • Define how banking connects to the rest of the Gusto platform, making the account the default funding source for how a business operates. • Design for self-serve by anticipating where customers get stuck and resolving it in-product rather than in the support queue. • Ensure tight, daily coordination with cross-functional teams spanning Product, Engineering, Design, Data, Risk, Compliance, Legal, and Ops to ship resilient, compliant, and delightful products. • Partner with external vendors (e.g., partner banks, banking infrastructure providers, card processors) to deliver reliable, integrated experiences. • Deeply understand our customers, particularly how cash flow uncertainty and team spending dynamics impact small business owners, and use that empathy to craft effective product narratives. • Measure what matters — define and own KPIs around account opening, funding, deposit growth, and primacy, and use data to drive prioritization, learning, and iteration Here’s what we're looking for: • Has a bias toward action, comfort with ambiguity, and a strong sense of ownership. • Has 7+ years of product management experience in fintech, banking, or adjacent industries. • Brings hands-on familiarity with business banking, BaaS platforms, deposit products, or money movement rails — bonus for experience with KYB/onboarding flows, ledgering, or partner bank relationships. • Thrives in 0→1 environments and knows how to take a product from pre-beta to launch with limited resources. • Has run a real experimentation practice — hypothesis, test design, readout, decision — and knows how to learn from directional signal when a new product doesn't yet have the volume for statistical significance. • Understands the regulatory and operational complexity of banking products and can partner effectively with Risk, Legal, and Compliance teams. • Cares deeply about small businesses and wants to build the account they trust with their money. Our cash compensation amount for this role is $179,000/yr to $220,000/yr in D