Sr. Manager Capital Markets - Institutional Capital

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. We also have offices in San Mateo, California;
Columbus, Ohio; and Austin, Texas.

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 whole loan sales, securitizations and structured transactions. The Institutional Capital team drives direct whole loan partnerships and leads execution from strategy to deal close across Upstart’s lending products.

As the Senior Manager, Capital Markets - Institutional Capital at Upstart, you will play a leading role in scaling Upstart’s investor base and deal execution strategy. You will manage complex investor relationships, drive forward flow and co‑investment programs, and mentor junior talent. This role offers high visibility, strategic influence, and the opportunity to shape funding structures for Upstart’s long‑term funding success.

This role is available remotely, with a strong preference for candidates based in New York City or San Mateo for in‑office collaboration. The team operates on East/West Coast time zones.

As a digital‑first company, the majority of your work can be accomplished remotely. Employees are encouraged to spend high‑quality time in‑person collaborating via regular onsites. The in‑person cadence varies depending on the team and role; most teams meet once or twice per quarter for 2–4 consecutive days at a time. For NYC‑based teams, in‑office collaboration will be 2–3 times per week;

for San Mateo‑based teams, 1 week per month. These requirements are not mandatory but a strong preference will be given to candidates who can attend in‑person sessions regularly.

• Lead deal structuring and execution for whole loan sales and funding partnerships
• Drive investor strategy and relationship management for key institutional accounts
• Partner cross‑functionally with Legal, Analytics, Investor Services, Treasury, Accounting, and Finance to ensure seamless transaction execution and drive positive impact to Upstart’s P&L
• Review and negotiate legal docs on forward flow agreements and co‑investment programs
• Present deal structures and investor updates to internal stakeholders and senior leadership
• Serve as mentor to junior talent and help scale team capability
• Represent Upstart at investor meetings and capital markets conferences

• Minimum requirements:
  • 10+ years experience in Capital Markets, Structured Finance, or related fields
  • Proven track record of executing structured whole loan or ABS transactions and deep knowledge of unsecured personal, auto and/or HELOC lending products
  • Significant experience cultivating deep relationships with institutional investors (or other external counter parties) and negotiating business terms and/or legal agreements
  • Strong market instincts and analytical skills with high proficiency modeling cashflows and deal structures in Excel
  • Demonstrated ability to build, develop and lead high‑performing teams in a fast‑paced, high‑stakes environment
  • Exceptional communicator with the ability to distill complex concepts into clear, actionable insights and drive alignment across cross‑functional or external stakeholders
• Preferred qualifications:
  • Prior experience in (1) capital markets at a fintech, (2) investment management at…