The word ‘credit’ is derived from the latin verb meaning, “one believes”. Underwriting is not merely a science of risk scoring and algorithms, but also an art of unearthing hidden variables, and of subtle pattern recognition; bridging the gap between that of real and perceived risk. The established lending frameworks shun the intrepid entrepreneur, deeming them too risky, and lacking certain credibility. Fortunate for them, Mercury provides banking* for these ambitious startups, and they are in need of believers. 

As a Senior Credit Underwriter, you will be joining a team of lending experts with experience spanning unsecured cards to secured commercial credit. You will help shape our Working Capital loan product designed for eCommerce, software and managed services companies with a vision to extend to all small businesses. You will work directly with prospective borrowers to assess creditworthiness and structure creative lending solutions to support their growth. You will also partner with sales and product teams to innovate the go to market process, underwriting, and portfolio management needs of the rapidly scaling loan program. 

*Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.

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As part of the journey, we would expect you to: 

• Underwrite loan application independently: Analyze quantitative and qualitative data across ecommerce, SaaS, and SMB borrowers. Structure, price, and propose loan terms that balance repayment capacity and Mercury’s risk posture.
• Own the customer-facing deal motion: Lead diligence calls with prospective borrowers, co-pilot active negotiations with AEs, provide real-time eligibility and structuring guidance, and support the sales team on complex or competitive applications from first touch through close.
• Monitor portfolio health: Support ongoing covenant monitoring, delinquency tracking, and portfolio review processes. Contribute to monthly portfolio reviews with early warning signal identification.
• Contribute to credit standards: Support drafting and refinement of underwriting guidelines, risk rating frameworks, and policy documentation.
• Work cross-functionally: Partner with Sales, Product, Engineering, and Data Science to improve the underwriting process, customer experience, and credit infrastructure.

What we are looking for:

• 5+ years of credit or underwriting experience in Fintech, SMB, or commercial lending, with meaningful customer-facing experience
• Strong credit fundamentals: financial statement analysis, risk rating, cash flow assessment, and identification of structural mitigants across diverse business models.
• Direct deal experience: has been in the room with customers during negotiations, underwriting calls, and structuring conversations — not just behind the analysis.
• Builder mindset: comfortable operating in a high-growth environment where process, tooling, and infrastructure are still being defined. 
• Cross-functional fluency: experience working alongside Sales, Legal, Product, and Engineering. Able to translate credit requirements into language that lands across teams.
• Exposure to regulated lending or institutional credit frameworks is a plus. Familiarity with credit file standards, lending policy documentation, and examination-ready governance practices is helpful as Mercury approaches bank charter, not a hard requirement.

The total rewards package at Mercury includes base salary, equity (stock options), and benefits.

Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry. New hire offers are made based on a candidate’s experience, expertise, geographic location, and internal pay equity relative to peers.

Our target new hire base salary ranges for this role are the following:

• US employees located in New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $142,900 - $160,700
• US employees located outside of New York City, Los Angeles, Seattle or the San Francisco Bay Area: $128,600 - $144,600
• Canadian employees (any location): CAD $135,000 - $151,900

Mercury values diversity & belonging and is proud to be an Equal Employment Opportunity employer. All individuals seeking employment at Mercury are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, gender identity, sexual orientation, or any other legally protected characteristic. We are committed to providing reasonable accommodations throughout the recruitment process for applicants with disabilities or special needs. If you need assistance, or an accommodation, please let your recruiter know once you are contacted about a role.

We use Covey as part of our hiring and / or promotional process for jobs in NYC and certain features may qualify it as an AEDT. As part of the evaluation process we provide Covey with job requirements and candidate submitted applications. We began using Covey Scout for Inbound on January 22, 2024.

[Please see the independent bias audit report covering our use of Covey for more information.] 

#LI-AR1

Build and scale the underwriting foundation for our new consumer charge card (0→1).

Mercury is building a banking* stack for startups. We work hard to create the easiest and safest banking* experience possible to simplify entrepreneurs' and business owners’ financial lives. 

We’re launching a premium consumer charge card and are looking for a senior credit risk leader to help build and scale the underwriting strategy from the ground up - and own its performance as the portfolio scales.

Our goal is to build a consumer charge card that delivers a premium experience while maintaining disciplined, data-driven credit risk.

This is a hands-on, senior individual contributor role. You’ll take an initial strategic direction and turn it into a scalable, data-driven underwriting program, then monitor, refine, and evolve that strategy post-launch.

You’ll play a key role in shaping how risk decisions translate into customer experience, product growth, and long-term portfolio performance.

As the portfolio grows, this role is expected to evolve into team leadership.

*Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.

What You’ll Own:

Build and operationalize the credit strategy

• Translate underwriting vision into formal credit policy and decision frameworks
• Define approval logic, segmentation strategy, and limit-setting methodology
• Establish portfolio guardrails aligned to loss targets and unit economics
• Design account management strategies across the customer lifecycle
• Develop early portfolio management approaches including exposure adjustments, servicing strategies, and input into collections processes as the portfolio matures
• Define portfolio monitoring frameworks and escalation triggers for emerging credit risk trends

Build the data-driven risk engine

• Implement credit policy in our underwriting platform 
• Evaluate and integrate key data sources (bureau, income, debt signals)
• Ensure decision logic is structured, testable, and scalable
• Partner with Engineering and Data to build monitoring and feedback loops

Own portfolio performance post-launch

• Define and track core KPIs (approval rate, early delinquency, loss rate, exposure, utilization, etc.)
• Monitor vintage performance and segment behavior
• Recommend and implement strategy adjustments based on observed risk trends
• Present risk performance, insights, and recommendations to senior leadership

Drive data-informed risk and growth decisions

• Use SQL to independently evaluate underwriting decisions and trade-offs
• Analyze drivers of credit performance and portfolio outcomes
• Partner with Finance on forecasting and risk-adjusted economics

Drive cross-functional execution

• Partner with Compliance to ensure the underwriting program is well-documented and built to scale
• Work with Partnerships, Procurement, and Legal on evaluating and onboarding credit data providers
• Support broader risk initiatives across our business charge card portfolio during the build phase

What We’re Looking For:

• 6+ years of experience in consumer credit risk. Ideal candidates will have 8–12 years of experience across banking, fintech, or unsecured consumer lending
• Experience launching or materially redesigning a consumer lending product
• Experience implementing credit policy within a decisioning or underwriting platform is strongly preferred
• Demonstrated experience owning risk strategy and monitoring portfolio performance
• Deep familiarity with bureau data and core credit risk metrics (approval rate, loss rate, vintage curves, etc.)
• Experience presenting risk insights and strategy recommendations to senior stakeholders
• Experience translating policy into production decision logic
• Strong SQL skills and comfort working directly with data
• Comfortable building in ambiguity and operating in a 0→1 environment

Why This Role Is Unique:

You’ll join before launch -  when foundational decisions are made - and remain accountable for how those decisions perform in-market. You won’t inherit a mature portfolio. You’ll help define how underwriting works, how risk scales, and how this product earns long-term customer trust.

As the consumer portfolio grows, this role has the potential to evolve into a leadership position responsible for building and managing a dedicated consumer credit risk team.

The total rewards package at Mercury includes base salary, equity, and benefits.

Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry. New hire offers are made based on a candidate’s experience, expertise, geographic location, and internal pay equity relative to peers.

Our target new hire base salary ranges for this role are the following:

• US employees in New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $207,800 - $259,800
• US employees outside of the New York City, Los Angeles, Seattle, or the San Francisco Bay Area: $187,00 - $233,800
• Canadian employees (any location): $196,400 - $245,500 CAD

Mercury values diversity & belonging and is proud to be an Equal Employment Opportunity employer. All individuals seeking employment at Mercury are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, gender identity, sexual orientation, or any other legally protected characteristic. We are committed to providing reasonable accommodations throughout the recruitment process for applicants with disabilities or special needs. If you need assistance, or an accommodation, please let your recruiter know once you are contacted about a role.

We use Covey as part of our hiring and / or promotional process for jobs in NYC and certain features may qualify it as an AEDT. As part of the evaluation process we provide Covey with job requirements and candidate submitted applications. We began using Covey Scout for Inbound on January 22, 2024.

[Please see the independent bias audit report covering our use of Covey for more information.] 

#LI-AR1

When Florence Nightingale arrived at the British Army hospital in Scutari in 1854, soldiers were dying at ten times the rate of battlefield casualties, not from wounds but from a total breakdown in operations. There were no reliable records, no supply controls, no sanitation standards, and no documented processes. She built all of it: independent supply chains, laundry and kitchen operations, patient tracking systems, and evidence-based documentation she later used to drive reforms before a Royal Commission. The mortality rate fell from over 40% to 2%. Her work did not just save lives at Scutari. It created modern nursing, reshaped hospital design worldwide, and proved that reliable outcomes require reliable systems. That is the kind of operator we are looking for at Mercury.

Mercury is a financial technology company building banking products for ambitious businesses. We have grown from a startup banking* platform to a company that manages tens of billions in deposits, and now we are taking the next step: pursuing a de novo bank charter to become a full-fledged bank. As we transition from fintech to a regulated institution, we are building a full commercial lending operation from the ground up. The documentation this person writes, the controls they design, and the evidence they build will be reviewed by bank regulators as part of Mercury's formal examination process. We need an operator who understands that weight and is motivated by it. 

Our goal is to build a credit and lending operation that looks nothing like a traditional bank: efficient by design, scalable from first principles, and built to meet the standards of a fully regulated institution from day one. This is a hands-on, senior individual contributor role that is expected to evolve into a team leadership position as Mercury's lending program grows.

*Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.

What you will do

• Own loan booking, quality control, disbursements, payoffs, lien tracking, and reconciliation, establishing single-point ownership over activities currently distributed across multiple teams
• Design and implement a formal quality control function between underwriting approval and loan booking, establishing a control layer that scales with Mercury's credit products and regulatory obligations
• Build scalable, bank-grade workflows for each stage of the loan servicing lifecycle
• Design operational infrastructure for Standby Letters of Credit, including collateral controls, contingent liability tracking, and release procedures
• Translate operational requirements into system specifications, test plans, and user acceptance criteria in partnership with development teams
• Establish procedural documentation, SLAs, and control frameworks that hold up to regulatory examination
• Build and maintain loan tapes and operational reporting across the portfolio
• Contribute to standing up the broader credit program ahead of bank launch, including operational standards, procedures, controls, and exam-readiness documentation

Who you are

• Curious – you go out of your way to understand the work that surrounds you, not just your own. You learn how adjacent systems, teams, and processes work before you are forced to, because understanding the full picture is how you do your job well
• A builder – you have stood something up from scratch before and you are drawn to that kind of work, not daunted by it
• Precise – small errors in loan servicing cascade into audit findings, customer impact, and regulatory exposure. You know that, and you operate accordingly
• A systems thinker – you trace a workflow from intake to general ledger and spot where it will break before it does
• Resourceful – you use AI tools to draft, automate, and scale your output, and you treat new tools as leverage, not overhead
• Collaborative – you step into gaps and work with a team-first mentality, even when you own a function independently

What we are looking for

• Ideal candidates will have 5+ years of experience across banking, fintech, or private credit operations. An inclusive 2+ years of experience in credit operations or loan servicing is preferred.
• Comfortable building in ambiguity and operating in a 0-to-1 environment
• Strong written communication: the documentation you produce will be reviewed by bank regulators. It must be precise, defensible, and clear enough that an operator can follow it and an examiner can evaluate it
• Experience owning core servicing workflows: booking, disbursements, payoffs, collateral management, or reconciliation
• Experience translating operational requirements into system specifications or partnering with product and engineering teams on system design
• Prior experience working in full-cycle credit management (origination, portfolio management, workout, etc.) is a plus
• SQL and data skills are useful but not required

Why this role is different

Loan Operations at Mercury does not exist today. You are building it.

Mercury is actively becoming a bank. The controls you design, the procedures you write, and the evidence you build will be reviewed by regulators as part of that process. This is not process improvement at an established lender. It is foundational infrastructure for a new institution, and the commercial lending operation Mercury runs will reflect what you design.

This role is designed to grow into managing a standalone Loan Operations team as Mercury’s lending program scales.

The total rewards package at Mercury includes base salary, equity (stock options), and benefits. Our salary and equity ranges are highly competitive within the SaaS and fintech industry and are updated regularly using the most reliable compensation survey data for our industry. New hire offers are made based on a candidate's experience, expertise, geographic location, and internal pay equity relative to peers.

Our target new hire base salary ranges for this role are the following:

• US employees in New York City, Seattle, Los Angeles or San Francisco: $132,400 - $165,500
• US employees outside of New York City, Seattle, Los Angeles or San Francisco: $119,200 - $149,000

Mercury values diversity & belonging and is proud to be an Equal Employment Opportunity employer. All individuals seeking employment at Mercury are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, gender identity, sexual orientation, or any other legally protected characteristic. We are committed to providing reasonable accommodations throughout the recruitment process for applicants with disabilities or special needs. If you need assistance, or an accommodation, please let your recruiter know once you are contacted about a role.

We use Covey as part of our hiring and / or promotional process for jobs in NYC and certain features may qualify it as an AEDT. As part of the evaluation process we provide Covey with job requirements and candidate submitted applications. We began using Covey Scout for Inbound on January 22, 2024.

[Please see the independent bias audit report covering our use of Covey for more information.] 

#LI-AR1