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

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.

_____________________________________________________________________________________

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

About the Company

We are a renewable energy and ocean technology company committed to rapidly developing and deploying technologies that will ensure a sustainable future for Earth by unlocking the vast energy potential of its oceans. Our focus is on capturing civilizational levels of ultra-low-cost renewable energy for applications including computing and affordable renewable fuels delivered to shore.

The company is a public benefit corporation headquartered in Portland, Oregon, and backed by leading venture capitalists, philanthropic investors, university endowments, and private investment offices. We operate as an idea meritocracy in which the best ideas change the company’s direction on a regular basis.

About the Job

We are developing a core technology that will operate in the worst conditions the world’s oceans have to offer for years at a time without human maintenance or intervention. As Senior Structural Engineer, you will spearhead the structural analysis of numerous mechanical systems and help develop innovative methods and tools to select the best designs across a design space of millions of possibilities.

You will be a key part of the team responsible for the development of algorithms, pipelines, and other software to drive efficient structural analysis and cost estimation. You will also play a critical role in developing best practices and approaches for structural analysis as well as performing detailed stress and fatigue analysis of point designs. We expect you to be especially strong in structural analysis and coding, and to gravitate toward first-principles/fundamental-physics when solving problems. 

Candidates should have strong interpersonal skills and be able to thrive in a creative, scrappy, and collaborative environment in which the best ideas change the company’s direction on a regular basis. If you are an excellent engineer, regardless of your background, we want you to apply. Our staff have worked at organizations such as SpaceX, Blue Origin, Boeing, Virgin Orbit, Virgin Galactic, Google, Amazon, Microsoft, New Relic, Raytheon, Disney Imagineering, Bridgewater Associates, and the US Army and Air Force, as well as research universities, startups, and small companies across a range of industries. We are organized as a public benefit corporation and are backed by leading venture capital firms, private investors, philanthropic investors, and endowments. 

We strive to be the best engineering team on the planet and we compensate our engineers accordingly. 

Responsibilities

• Develop algorithms/software that support the structural sizing of an entire design space in an automated way, allowing millions of end points to be accurately evaluated
• Work with Nastran input and output files for FEA analyses and scripts
• Generate and evaluate load spectra from test and simulation results
• Perform stress hand-calculations and fatigue/damage tolerance analyses for various designs
• Serve as the stress analyst for core technology subsystems, which could include: device primary structure, pressure- and seawater-tolerant electronics packaging, drivetrains, deployment features, lab-based testing apparatuses, piping/cable routing and layout, and ground-support equipment
• Drive the structural design of various systems to ensure an efficient end-product that is sufficiently robust and supports an optimal manufacturing process
• Utilize Femap, NX-Simcenter, and internal FEA tools to perform linear, non-linear, and dynamic analyses of large assemblies
• Use a CAD software design package (NX) and PDM tool (Teamcenter) to facilitate design changes and stress evaluation
• Lead and participate in design reviews with the internal team and interface with external fabricators and vendors

Required qualifications:

• An undergraduate degree in Mechanical Engineering or equivalent
• Wide-ranging experience and advanced knowledge in structural analyses techniques including classical hand analyses and computer analysis tools
• Proven experience evaluating numerous parts and assemblies that have undergone structural testing and seen service
• Working knowledge of FEA codes and pre- & post-processing (Nastran preferred)
• Solid coding abilities, with experience using Python, Julia, Mathematica, or another similar programming language for data review and analysis
• Strong written and verbal communication skills
• Proven ability to work in a team environment
• Confidence working independently to drive a project forward
• A work history encompassing at least five design, build, test, and deploy cycles for different projects
• Ability to work in a fast-paced, self-starting, and demanding atmosphere

Desired qualifications:

• Advanced degree in mechanical engineering, structural engineering, aerospace engineering, naval architecture, or a related field, or 5 years additional experience in lieu of an advanced degree
• At least 5 years in a similar role
• Experience evaluating large, welded steel structures in dynamic environments
• Intimate familiarity with Nastran input decks
• Direct involvement in structural verification testing
• Excellent coding abilities
• Extensive experience with Femap
• Experience with NX/Teamcenter
• Hands-on hardware experience performing design, fabrication, assembly and testing
• Curiosity to learn and a passion for continuous improvement
• Solid understanding of technical projects from the details to the big picture
• Strong interpersonal, organizational, and presentation skills

The above qualifications are desired, not required. We encourage you to apply if you are a strong candidate with only some of the desired skills and experience listed.

Additional Requirements

• Travel to vendors and test sites as needed
• Intermittently able to work longer hours and weekends to support critical needs. While we expect a lot of each other, we also offer a high degree of autonomy and work-life balance, including unlimited PTO, and flexible working hours.

Compensation and Benefits

If hired for this full-time role, you will receive:

• Cash compensation of $150,000 - $250,000
• Equity in the company. We’re all owners and if we’re successful, this equity should be far and away the most valuable component of your compensation.
• A benefits package that helps you take care of yourself and your family, including:
• Flexible paid time off
• Health insurance (the company pays 100% of gold level PPO plan for full time employees, their partners, and dependents)
• Dental insurance (the company pays 100% for full time employees and 100% for their partners and dependents)
• Vision insurance (the company pays 100% for full time employees, their partners, and dependents)
• Disability insurance (the company pays 100% for a policy to provide long term financial support if you become disabled)
• Ability to contribute to tax-advantaged accounts, including 401(k), health FSA, and dependent care FSA
• Relocation assistance to facilitate your move to Portland (if needed).

Location

Our offices, lab, and shop are located in Portland, Oregon. We strongly prefer that candidates are willing to relocate to Portland, but at a minimum the position requires the ability to travel to Portland intermittently.