Capital Markets Lead, Structuring

The Team: 

Upstart’s Capital Markets team secures loan funding capital for our AI lending marketplace, collaborating with leading institutional investors across diverse financing solutions. Within this ecosystem, the Structuring team acts as a technical partner to the Institutional Capital and Structured Products teams. We support execution across all asset classes (Personal Loans, Auto, HELOC) and deal types, ensuring that commercial goals are translated into functional financial structures and precise deal logic.

As the Capital Markets Structuring Lead, you will work directly on the deal team to architect solutions that optimize the trade-off between structural risk and economic value. This is a flexible mandate: we are hiring for capability, not just tenure. The scope and level of the role will be calibrated to the individual’s experience.

You will handle distinct transactions where adaptability  is key — leveraging firm-wide resources to execute deals that may not have a direct precedent. You will serve as a primary builder of deal logic and a key touchpoint for cross-functional partners.

How you’ll make an impact

• • Build & Own Deal Logic: Design and manage bespoke cash flow models for diverse asset classes. You must prioritize clear spreadsheet design and logical architecture to ensure models accurately reflect complex waterfalls, triggers, and covenants.
  • Bridge Commercial & Legal Concepts: Translate business terms into functional deal logic and vice versa. You will review transaction drafts to ensure that negotiated terms (like waterfall priority or credit enhancements) are accurately captured in the model.
  • Optimize Structural Economics: Partner with the deal team to calibrate key parameters — such as protection levels, liquidity provisions, and return profiles — to solve for both investor constraints and Upstart's economics.
  • Drive Front-Line Execution: Partner with the Institutional Capital and Structured Products teams to drive deals from term sheet to closing. You will leverage Upstart’s Data Analytics and Legal resources to support the transaction lifecycle
  • Adapt & Innovate: Quickly pivot between different asset classes (e.g., switching from Auto to HELOC) and deal structures. You will approa

Minimum Qualifications 

• • Bachelor's degree.
  • 3+ years of relevant deal experience in credit or structured finance. (We welcome candidates with more experience; the role's scope will scale accordingly.
  • Advanced Modeling Logic: Effective hands-on capability in Excel. Demonstrated ability to design clean, logical, and auditable cash flow models (spreadsheet design skills are paramount).
  • Deal Mechanics: Intuitive understanding of fundamental deal concepts (waterfalls, covenants, credit enhancement).
  • Adaptability: Must be energized by working on novel structures with high ambiguity.

Preferred Qualifications

• CFA designation (or progress towards it).
• Experience reviewing and commenting on transaction term sheets or credit agreements.
• Candidates with diverse backgrounds and demonstrated success are encouraged to apply, even if they do not match every criterion perfectly.

Position location This role is available in the following locations: Remote 

Time zone requirements The team operates on the East/West coast time zones. 

Travel requirements As a digital first company, the majority of your work can be accomplished remotely. The majority of our employees can live and work anywhere in the U.S but are encouraged to to still spend high quality time in-person collaborating via regular onsites. The in-person sessions’ cadence varies depending on the team and role; most teams meet once or twice per quarter for 2-4 consecutive days at a time.

What you'll love: 

• Competitive Compensation (base + bonus & equity)
• Comprehensive medical, dental, and vision coverage with Health Savings Account contributions from Upstart 
• 401(k) with 100% company match up to $4,500 and immediate vesting and after-tax savings
• Employee Stock Purchase Plan (ESPP)
• Life and disability insurance
• Generous holiday, vacation, sick and safety leave  
• Supportive parental, family care, and military leave programs
• Annual wellness, technology & ergonomic reimbursement programs
• Social activities including team events and onsites, all-company updates, employee resource groups (ERGs), and other interest groups such as book clubs, fitness, investing, and volunteering
• Catered lunches + snacks & drinks when working in offices

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