Manager of Capital Markets, Upgrade
$140-160k
+ stock option plan
More information about location
3 days a week in office
Offering responsible credit to mainstream consumers
Open for applications
Offering responsible credit to mainstream consumers
1001+ employees
Open for applications
$140-160k
+ stock option plan
More information about location
3 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 capital markets experience
- Advanced in MS Suite, SQL, and Tableau
- Understanding of secured and unsecured consumer lending and credit underwriting
- Knowledge and experience of executing structured finance transactions and/or asset-backed securities (ABS) markets
- Ability to operate in a fast-paced environment to meet deal deadlines
- Superior written and verbal communication skills
- Good judgment and excellent interpersonal skills
- Highly organized, detail-oriented, and strong client service skills
What the job involves
- We are looking for a Manager to join our Capital Markets team for an exciting opportunity to establish and maintain funding capital from relationships with institutional investors across all five of Upgrade’s lending products (personal loan, card, home improvement, indirect auto, and BNPL)
- This role has high visibility in the organization and can influence the strategic execution of large transactions for the company
- This position reports into the VP of Capital Markets, and is based in our San Francisco office in a hybrid capacity (specifically on Tuesdays, Wednesdays, and Thursdays)
- Analyze various financing options (including warehouse facilities, securitizations, forward flow whole loan sales, etc.) to determine the optimal funding strategy across all lending products (personal loan, card, home improvement, indirect auto, and BNPL)
- Understand and negotiate legal agreements related to structured finance transactions
- Provide analysis on collateral performance by leveraging tools such as Excel, SQL, and Tableau
- Ensure timely circulation of reporting deliverables and monitoring of covenants across transactions and products
- Partner with internal and external counsel, lead review and negotiation of transactional terms/amendments through to execution
- Manage and support onboarding new institutional investors, warehouse facilities, and securitization deals, including operational setup, due diligence, and documentation review
- Develop and maintain strong relationships with institutional investors to deliver a best-in-class experience
- Work with operations and engineering teams to ensure data integrity of investor reporting
- Collaborate across organization to execute transactions across all-five lending product(s) and capital stack
- Liaison with all internal and external parties involved in the transaction including, internal and external legal counsel, trustees, accounting firms, underwriters/brokers (modeling / reverse engineering structures and tying out with banks and investors and negotiating/coordinating required disclosures and legal transactional document.)
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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