Portfolio Manager, Risk Capital

About Upstart

At Upstart, we’re united by a mission that matters: to radically reduce the cost and complexity of borrowing for all Americans. Every day, we bring creativity, experimentation, and advanced AI to reshape access to credit, helping millions move forward financially with clarity and confidence.

As the leading AI lending marketplace, we partner with banks and credit unions to expand access to affordable credit through technology that’s both radically intelligent and deeply human. Our platform runs over one million predictions per borrower using more than 3,000 signals, powering smarter, fairer decisions for millions of customers. But the numbers only hint at the impact. Every idea, every voice, and every contribution moves us closer to a world where credit never stands between people and their financial progress.

We’re proudly digital-first, giving most Upstarters the flexibility to do their best work from wherever they thrive, alongside teammates across 80+ cities in the US and Canada. Digital-first doesn’t mean distant. We’re intentional about in-person connection through team onsites, planning sessions, and moments that spark creativity and trust. And whether you choose to work primarily from home or collaborate in-person from one of our offices in Columbus, Austin, the Bay Area, or New York City, you’ll have the support to work in the way that works best for you.

If you’re energized by tackling meaningful problems, excited to innovate with purpose, and motivated by work that truly matters, we’d love to hear from you.

The Team:

Upstart’s Risk Capital team manages the co-investments that Upstart engages with its funding partners on a long-term commitment basis. It’s a ~$11B+ book, and the team owns how those investments perform, what they’re worth, the risks they carry, and the monthly reporting that keeps our investor partners informed. As the marketplace grows, the team is building the portfolio oversight and automation to manage it at scale.

As the Portfolio Manager, Risk Capital at Upstart, you will help manage this portfolio of investments — tracking how it performs, what it’s worth, and the risks it carries — while running the hands-on, deal-by-deal process and reporting behind it each month. Think of it as a portfolio-management role with an operational focus. You’ll also lead the automation roadmap that lets the program keep scaling, and mentor two junior analysts.

How you’ll make an impact

• Run the monthly process end-to-end with operational excellence — performance reporting and settlement for each investment.

• Calculate and stand behind the amounts owed between Upstart and each investor every month, and work with our investor-facing team to settle them.

• Monitor the portfolio’s performance, value, and risk across all investments, and surface what matters to Finance and Treasury leadership.

• Partner across Capital Markets, Accounting, Treasury, Audit, and our investor-facing team to bring on new deals and answer investors’ questions on performance and settlements.

• Lead the automation that modernizes how the team works with AI enablement.

• Mentor two junior analysts on the analysis, the modeling, and the judgment behind the numbers.

Minimum Qualifications

• Bachelor’s degree, or equivalent practical experience, in finance, economics, mathematics, engineering, or a related quantitative field.

• 5+ years of experience in investment management, portfolio management, structured finance, or capital markets.

• Demonstrated experience building and auditing cash-flow or financial models in spreadsheets.

• Experience querying and analyzing data with SQL or a comparable query language.

Preferred Qualifications

• Experience with consumer loans, asset-backed or whole-loan investments, or marketplace lending (e.g., personal, auto, or home-equity loans).

• Proficiency with Python and hands-on use of AI tools to automate analysis, modeling, or reporting.

• Familiarity with how returns are shared across different deal structures, and with monitoring investment performance and risk.

• Experience supporting investor relationships, settlements, or reporting for institutional investors.

• Ability to explain complex deals and numbers in plain language for senior leaders and investors.

• Experience leading process-improvement or automation initiatives within a finance or analytics function.

#LI-MidSenior

At Upstart, your base pay is one part of your total compensation package. The anticipated base salary for this position is expected to be within the below range. Your actual base pay will depend on your geographic location–with our “digital first” philosophy, Upstart uses compensation regions that vary depending on location. Individual pay is also determined by job-related skills, experience, and relevant education or training. Your recruiter can share more about the specific salary range for your preferred location during the hiring process.

In addition, Upstart provides employees with target bonuses, equity compensation, and generous benefits packages (including medical, dental, vision, and 401k).

United States | Remote - Anticipated Base Salary Range

$133,400—$212,300 USD

What you'll love

At Upstart, our benefits for full-time employees are designed to support your health, financial well-being, family, and personal growth. Here’s what you can expect:

• Competitive compensation, including base pay, bonus opportunities, and annual equity grants that vest quarterly

• Retirement benefits to help you plan for the future, including a 401(k) or Group Retirement Savings Plan with a company match of $2 for every $1 contributed, up to $15,000 annually (USD in the US, CAD in Canada)

• Employee Stock Purchase Plan (ESPP) with discounted stock purchase options for eligible employees (US only)

• Comprehensive health coverage designed to support you and your family, including medical, dental, vision, and wellness resources for US and supplemental health coverage for Canada.

• Health Savings Account contributions from Upstart for eligible plans (US only)

• Income protection benefits, including life insurance and disability coverage for added financial security

• Paid time off, sick leave, and company holidays, in line with local requirements

• Paid family and parental leave to support caregiving and major life moments (duration varies by country)

• Family-centered benefits to support fertility, parenthood, and caregiving needs

• Employee Assistance Program (EAP) offering mental health support and life-centered resources

• Financial wellness resources, including access to financial planning tools and a financial concierge service (US Only)

• Annual wellness allowance to support your physical and emotional well-being and personal development, based on what matters most to you

• Annual productivity allowance to invest in relevant tools and resources you need to do your best work, no matter where you work from

• Connection and community through team events, all-company updates, and employee resource groups (ERGs)

• Onsite perks, including catered lunches and fully stocked micro-kitchens when working from one of our offices in the Bay Area, Austin, Columbus, and New York City

For roles based in Canada, please note that we are not currently able to hire in Quebec.

Upstart is a proud Equal Opportunity Employer. Just as we are dedicated to improving access to affordable credit for all, we are committed to inclusive and fair hiring practices.

If you require reasonable accommodation in completing an application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please email candidate_accommodations@upstart.com

https://www.upstart.com/candidate_privacy_policy