Senior Manager of FP&A Credit, Upgrade
$180-205k
+ stock options
More information about location
3 days a week in office
Offering responsible credit to mainstream consumers
Be an early applicant
Offering responsible credit to mainstream consumers
1001+ employees
Be an early applicant
$180-205k
+ stock options
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
- 6+ years in FP&A, strategic finance, banking, or credit analysis preferably within a financial institution or fintech
- 4+ years of experience specifically in loan fair valuation, credit cost and delinquency modeling
- Strong proficiency in valuation modeling, financial analysis and relevant software (e.g., Excel, VBA, SQL, or specialized valuation software)
- Understanding of secured and unsecured consumer lending and credit underwriting
- 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
- CFA or other relevant professional certification preferred
What the job involves
- We are looking for a Sr. Manager to join our FP&A team to support the valuation process and credit cost forecasting for our loan portfolio
- 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 Head of FP&A
- Oversee the fair value assessment of the loan portfolio, ensuring valuations are timely, accurate, and consistent with market standards
- Develop and refine valuation methodologies and financial models that accurately capture market risk, interest rate risk, credit risk, and other relevant factors impacting loan valuations
- Work closely with internal teams including Risk Management, Credit, Capital Markets, Accounting, Treasury, Audit, and an external valuation firm to maintain alignment on fair valuation processes and reporting
- Build and maintain models to predict future fair valuation adjustments including charge-offs for loans on the balance sheet
- Analyze and interpret financial data, market data, and economic trends to support fair valuation models and assumptions
- Identify, evaluate, and report on potential risks impacting fair valuation, making recommendations to mitigate these risks
- Prepare comprehensive reports and presentations for senior management, auditors, and regulatory bodies, explaining valuation methods, inputs, and assumptions
- Lead initiatives to improve valuation processes, leverage technology, and ensure scalability and efficiency within the fair valuation framework
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
Some 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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