Capital Markets Manager

About Upstart

Upstart is the leading AI lending marketplace partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart's AI marketplace, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates across races, ages, and genders, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than 80% of borrowers are approved instantly, with zero documentation to upload.

Upstart is a digital-first company, which means that most Upstarters live and work anywhere in the United States. However, we also have offices in San Mateo, California;
Columbus, Ohio;
Austin, Texas; and New York City, NY (opening Summer 2026).

Most Upstarters join us because they connect with our mission of enabling access to effortless credit based on true risk. If you are energized by the impact you can make at Upstart, we’d love to hear from you!

Upstart’s Capital Markets team plays a pivotal role in securing loan funding capital for our AI lending marketplace. We collaborate with leading institutional investors across a diverse range of financing and funding solutions, including securitizations, whole loan sales, co-investment partnerships and other structured transactions.

Within Capital Markets, the Structured Products team oversees Upstart’s securitization, pass‑through, and financing programs. Upstart has been an active issuer in the asset‑backed securities (“ABS”) markets since 2017 with over $9 billion in aggregate issuance to date. The team is the primary point of contact with major investment banks and other lenders/investors on Upstart’s capital markets offerings, while ensuring alignment across the business.

As the Capital Markets Manager – Structured Products at Upstart, you will play a critical role in securing funding sources and structures by driving optimized execution of Upstart’s securitization and warehouse programs. You have a strong track record within structured finance and are energized by building relationships across Capital Markets participants. You will leverage your technical expertise to review asset‑ and bond-level cash‑flow modeling to support structuring discussions and lead negotiations across our Structured Products offerings.

• Drive and execute strategy for Upstart’s securitization issuance and asset‑backed financing strategy
• Manage and deepen strategic partnerships with lenders, investors, and key market participants
• Partner closely with internal and external counsel to review and execute legal agreements
• Collaborate with cross‑functional stakeholders (e.g., legal, operations, data analytics, accounting) to navigate downstream implications of Upstart’s funding structures
• Present on deal terms and status to leadership, including Upstart’s management team
• Coach and mentor junior team members

• 7+ years of relevant experience in Capital Markets, Structured Finance/Products, investment banking, or related roles
• Deep knowledge of capital markets and fixed income, with hands‑on experience modeling and executing a broad range of structured finance transactions
• Proven track record of strong cross‑functional stakeholder management and influencing partners to drive outcomes
• Demonstrated experience coaching and mentoring a high‑performing team that consistently punches above their weight
• Strong market instincts with a sharp read on risk sentiment/apetite and trusted by institutional clients

• Direct experience in capital markets at a fintech
• Deep knowledge of unsecured personal loan asset class
• MBA, CFA, or BA/BS degree in business, finance, economics, or other analytical areas of study
• Skilled in deriving insights from complex data sets using Looker or similar software; knowledge of SQL a plus
• ABS or Asset Backed Securities experience

Local team members typically meet in person in the New York, NY or San Mateo, CA office once to three times weekly and work from home the rest of the time.

The team operates flexibly between East‑Coast and…