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.