ALM Manager

About Upstart: At Upstart, the mission is to radically reduce the cost and complexity of borrowing for all Americans by leveraging creativity, experimentation, and advanced AI to reshape access to credit. The company partners with banks and credit unions to expand access to affordable credit through technology that uses over 3,000 signals to power smarter, fairer decisions for millions of customers. Upstart operates as a digital-first company with flexibility for employees to work remotely or from offices in Columbus, Austin, the Bay Area, or New York City. The Team: Upstart Bank is a technology-enabled bank combining innovative lending with disciplined balance sheet and risk management. The Treasury team manages the Bank's funding, liquidity, capital, investment portfolio, and interest rate risk across market conditions and economic cycles. Role and Responsibilities: - Own the Bank's asset and liability management (ALM) and interest rate risk measurement framework, including net interest income simulation, economic value of equity sensitivity, repricing gap analysis, and other measures to assess earnings and capital exposure across changing rate environments. - Lead implementation, configuration, and ongoing administration of the Bank's ALM platform, including data mapping and staging, source-to-model reconciliations, model controls, change management, vendor coordination, and issue resolution. - Develop, document, and regularly evaluate behavioral and market assumptions such as deposit betas and decay, loan prepayments and curtailments, repricing characteristics, funding rollover behavior, yield curves, and product optionality. - Perform sensitivity analysis, backtesting, and outcomes analysis. - Design and evaluate parallel and non-parallel rate shocks, ramps, curve twists, and business-plan scenarios. - Identify key drivers of risk, monitor limits and early warning indicators, and explain changes in the Bank's interest rate risk profile. - Recommend balance sheet, product pricing, funding, investment, and hedging actions to manage interest rate risk within approved appetite and limits. - Partner with business leaders to assess ALM implications of new products and balance sheet strategy changes. - Prepare ALM and interest rate risk reporting for the Asset and Liability Committee, executive management, the Board, Internal Audit, and regulators. - Support policy administration, model risk management, independent validation, examinations, audits, and continuous improvement of Treasury reporting. Minimum Qualifications: - Bachelor's degree in Finance, Accounting, Economics, Business, Mathematics, Statistics, or related field, or equivalent practical experience. - 10+ years of experience in bank treasury, asset and liability management, interest rate risk management, balance sheet management, or related discipline. - Experience in a commercial bank, community bank, or bank holding company applying ALM and interest rate risk concepts in a regulated environment. - Hands-on experience operating an ALM platform and producing net interest income and economic value sensitivity analyses under multiple rate and balance sheet scenarios. - Experience developing and governing model assumptions, reconciling source data to model inputs, analyzing model results, monitoring policy limits, and preparing ALM or IRR reporting for senior management or an Asset and Liability Committee. Preferred Qualifications: - Experience presenting ALM and interest rate risk analyses to senior committees, executive management, boards, auditors, and regulators. - Knowledge of bank regulatory guidance for interest rate risk and model risk management (OCC, Federal Reserve, FDIC). - Experience with fixed-rate consumer lending, retail and wholesale deposits, investment securities, derivatives, and balance sheet dynamics of a de novo or rapidly growing bank. - Advanced spreadsheet and financial modeling skills. - Proficiency with SQL or similar data tools. - Familiarity with ALM platforms such as Empyrean, QRM, BancWare, Moody's Analytics, or similar. - Experience supporting independent model validation, assumption backtesting, model change governance, hedging analysis, or funds transfer pricing. - CFA, FRM, or other relevant professional credentials are a plus. Position Location: - Remote within the United States. - Majority of work can be accomplished remotely with occasional in-person team onsite meetings once or twice per quarter. Compensation and Benefits: - Anticipated base salary range: $159,500 to $220,700 USD per year, depending on geographic location, skills, experience, and education. - Additional compensation includes target bonuses, equity compensation, and generous benefits packages including medical, dental, vision, and 401k. - Benefits include competitive compensation, retirement plans with company match, employee stock purchase plan (US only), comprehensive health coverage, health savings account contributions (US only), income protection benefits, paid time off and holidays, paid family and parental leave, family-centered benefits, employee assistance program, financial wellness resources, wellness and productivity allowances, team events, and onsite perks at offices. Equal Opportunity: - Upstart is committed to inclusive and fair hiring practices and provides reasonable accommodations during the hiring process upon request.