Vice President of Capital Markets, Affirm
$540-620k
OTE
+ ESPP
2-3 days a week in office
POS installment loans
Be an early applicant
POS installment loans
1001+ employees
Be an early applicant
$540-620k
OTE
+ ESPP
2-3 days a week in office
1001+ employees
Company mission
To deliver honest and transparent financial products that improve users' lives.
Role
Who you are
- Strong technical, communication and interpersonal skills; desire to work closely with both internal and external stakeholders; and ability to effectively engage with senior executives are absolutely critical
- 15+ years of experience across asset management and investment banking with demonstrated product development and transaction management experience. Ideally 5+ years of experience at a consumer loan originator or other asset-backed issuer
- Executive presence with strong written and oral communication skills
- Strong technical and transaction structuring skills
- Excellent deal management and negotiation skills
- Passionate about Affirm’s mission, products and culture
- Strong leadership capabilities, and ability to effectively collaborate to build consensus across internal and external stakeholders
- Experience with SQL or Python is a plus
- Ability to think creatively and critically and thrive in a fast-paced, dynamic, and often ambiguous work environment
- Humility and a strong desire to learn and grow
What the job involves
- We’re seeking a strategic and driven leader to join our Capital Team as Vice President, Capital Markets & Bank Partnerships
- In this role, you will play a key part in shaping our capital strategy and fostering strong financial partnerships. Reporting directly to the Chief Capital Officer, you will have high visibility and impact across the organization
- At Affirm, the Capital team’s mission is to establish a robust and resilient, accretive Capital program at scale that meets the needs of Affirm through all phases of growth
- As such, the Capital team is responsible for managing all aspects of the company’s corporate and secured funding facilities as well as related operations and activities across multiple channels
- The team also develops and implements effective strategies across Loan Originating and Card Issuing Bank Partnerships, Corporate Treasury, Capital Markets, Portfolio Risk Management and Transaction Structuring
- The ideal candidate for this VP role within Capital will have a broad understanding of fixed income markets, consumer loan securitizations, and related funding structures as well as relevant financial markets industry legal and regulatory regimes and frameworks
- Develop a strong understanding of Affirm’s business and how Capital fits into broader corporate initiatives
- Manage the Capital Markets function as a partner ecosystem centered around broad but deep long-term relationships consistent with a best-in class funding function vs a transactional, opportunistic trading approach
- Manage risk across the funding ecosystem and help inform best practices to create efficiencies as the business scales. This includes identifying and managing external vendor relationships across reporting, audit and other relevant critical risk and/or reporting activities
- Manage originating and card issuing bank partner relationships in collaboration with our internal legal and compliance and product team members
- Engage in effective forecasting, planning, and periodic relevant financial and external reporting activities in partnership with the broader Finance Function (i.e., Accounting, and Strategic Finance and FP&A)
- Develop a deep understanding of the company’s financials and how to drive balanced but accretive outcomes to optimize unit economics and ultimately margins
- Build strong partnerships across Affirm to understand existing products and funding channels
- Manage the Bank Partnerships function with a keen understanding of the relevant originating and issuing bank and broader industry regulatory regimes as well as our product and overall business requirements
- Develop and maintain trusted relationships with existing and new investors and stakeholders, including but not limited to presence and robust representation at key industry and investor conferences, regular one-on-one partner meetings etc
- Identify expansion and optimization opportunities focused on public and private investment vehicles for Capital products
- Lead transaction processes including developing structures, sourcing investors, and executing transactions
- Research lending peer products, performance, and funding vehicles to guide development and strategy
- Prepare and guide development of Product Requirement Documents to enable close Product-Engineering-Capital integration for new initiatives and to streamline existing processes
- Support a broad array of internal initiatives across Credit, Risk, Revenue, Operations, Product and Engineering functions, all in service of our mission to provide honest financial services
Our take
Affirm offers point-of-sale loans to consumers, working with merchants like Shopify, KAYAK, and Walmart. Buy now, pay later transactions have grown in popularity in recent years, and this business is tapping into the market with a totally different approach to credit - by delivering the Affirm card, the first US debit card with the option to pay-over-time.
Boating over 15 million customers and 245,000+ merchants, the company offers flexible payback options, ranging from 3 to 36 months. The interest rates run between 0% and 30%, so, while they are not necessarily the cheapest option, Affirm prides itself on having no fees for late payments, no hidden charges, and total transparency about what people will pay before they take out a loan.
Affirm collects payments from the customers and pays the merchants directly, shouldering the risk itself. The company has boosted its market share, expanding its availability beyond the US to include most of Canada, and continues to launch new features and create new partnerships towards bettering its offering.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
-11% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Sep 2020
$500m
SERIES G
Apr 2019
$300m
SERIES F
Total funding: $1.1bn
Company benefits
- Spending wallets
- Supportive communities
- Remote-first workforce
- Generous time off
- Health benefits
- Mental healthcare
- Birth and non-birth parents get 18 weeks’ paid leave. Plus, a 4-week return-to-work transition program, at full base pay
- We have a simple, flexible, and transparent remote-first compensation structure so you can make the best decisions for yourself and your family
- We offer 24 company-wide paid days off—which help our teams collectively pause to recharge
- Learning & development
Company values
- People Come First
- No Fine Print
- It's On Us
- Simpler is Better
- Push the Envelope
Company HQ
Chinatown, San Francisco, CA
Articles
Leadership
Max Levchin
(CEO)Has founded/co-founded numerous companies, holding various executive positions at each, including Paypal, Slide, Glow, HVF Labs, and SciFi VC. Also worked at large brands including Google, Yelp, Yahoo, and Evernote.
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