Credit Analyst, Upgrade
USD $40-46/hour + Equity
3-4 days a week in office
Offering responsible credit to mainstream consumers
Posted today
Offering responsible credit to mainstream consumers
1001+ employees
Posted today
USD $40-46/hour + Equity
3-4 days a week in office
1001+ employees
Company mission
To help our customers move in the right direction with responsible financial products that put more money in their pocket.
Role
Who you are
- 5+ years of experience in financial services, credit management, auto industry or a related field
- Attention to detail when dealing with individual customer loans and credit files
- Professionalism, ownership, and the ability to work under pressure in challenging situations
- Ability to collaborate with others and work in a team environment
- Excellent verbal and written communication, as well as strong presentation skills
- Highly motivated to set and achieve challenging goals while demonstrating persistence through obstacles
What the job involves
- We are looking for new team members who get excited about designing and delivering new and better products to join a team of 1850 talented and dedicated professionals. Come work with us if you like to tackle big problems and make a meaningful difference in people's lives
- As a Credit Analyst, you will underwrite and process new auto loan applications that are submitted by our auto dealership partners.
- You will analyze applicants and loan data with a focus on credit worthiness, risk mitigation, pricing, and compliance in accordance with Upgrade Auto's lending policies. This position requires you to be available to work on weekends
- Receive and underwrite auto loans for new and used vehicles
- Price loan approvals according to market and risk
- Create relationships with auto dealer partners and negotiate with external clients
- Build strong relationships with our internal Dealer Development partners and teams, as well as various stakeholders
- Resolve dealership concerns and existing loan issues that may arise by providing alternative solutions while using reason when dealing with emotional topics
- Asses loan documents and third party data to make informed lending decisions
- Work with the Operations Team to resolve issues that may arise during the funding process
- Stay up to date with current economic trends and industry regulations
Our take
Most credit cards don't encourage the owner to pay down their debt. The longer it takes to pay off the balance, the more money lenders are set to make. Upgrade is an online lender and card issuer doing things differently. The company offers personal loans and credit cards but with a fixed instalment structure and a set number of equal payments. This ensures the balance reduces every month.
The company believes this model reduces default rates, as borrowers are forced to pay down rather than maintain their debt, and it encourages a greater commitment to repay the balance. Further, by combining the ease of a Visa card with the fixed payments and decreased rates of a personal loan, Upgrade sets itself apart from competitors.
In 2021, Upgrade launched its mobile banking and debit card as a strategy to onboard new customers and increase loyalty. The fixed-rate nature of the company's cards is expected to be of use to customers in future years in an environment of rising rates. Upgrade also plans to expand beyond the U.S. in the future, which will represent new challenges for the business as it adapts to alternative regulations.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
18% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Nov 2021
$280m
SERIES F
Aug 2021
$105m
SERIES E
Total funding: $547m
Company benefits
- Stock option plan
- 100% paid coverage of medical, dental and vision insurance
- Flexible PTO
- Opportunities for professional growth and development
- Paid parental leave
- Health & wellness initiatives
Company values
- Help: We help each other. We trust and care about each other. We welcome all team members and value the diversity of our team
- Improve: We are always learning. We are curious and ask why. We are open-minded and consider new ideas. We continually look to improve the way we operate
- Fast: We move fast. We launch products and process early, then test and iterate. We think ahead so that we are not rushing into things we are not prepared for. We work together to fix anything that breaks
- Own It: We act as owners. We enlist the help we need and follow through to the end. We acknowledge our mistakes and learn from them. We hold ourselves accountable as a team to reach our goals
Company HQ
Financial District, San Francisco, CA
Articles
Leadership
Renaud Laplanche
(Co-Founder & CEO)After an MBA at London Business School, Renaud spent 5 years as an Associate at Clearly Gottlieb Steen & Hamilton and co-founded MatchPoint. They then left Oracle after a year to co-found Lending Club in 2006 and co-founded Upgrade in August 2016.
Adelina Grozdanova
(Co-Founder & Head of Investor Group)Adelina started their career with 6 years at Morgan Stanley after a degree at Princeton. They left banking in 2012 to join Lending Club as VP, and after 3 years co-founded Upgrade, serving as Head of Investor Group since 2016.
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