Borrow Operations Manager at M1

| Chicago, IL
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Who we are

M1 Finance has created a personal wealth-building platform made for the modern era, uniting personal perspective and automated ease. We seamlessly combine free investing, low cost borrowing and digital checking all in one intuitive, automated Finance Super App, and we’re driven by a mission to empower personal financial well-being. We believe that financial well-being is fundamental to overall well-being, and we strive to deliver products that are simpler, smarter, and stronger than those created by our boring, entrenched, and slow-moving competitors in the personal finance industry. 

Our clients have already trusted us with over $5 billion of assets, we’re currently helping hundreds of thousands of people grow and manage their wealth with our industry-leading automation and tools, and we’re adding thousands of new clients every day.  

We’re looking for passionate people who want to improve and build on what we’ve created and take responsibility to help others build something meaningful and sustainable for their futures.  

We mean it when we say, “M1 is yours to build.”

If this sounds interesting to you, read on!

What we’re looking for

The M1 Borrow Operations Manager will be an integral part of the team tasked with building and launching lending products at M1. Initial focus will be on the prioritization and launch of unsecured personal loans. The Borrow Operations Manager will work in partnership with members of the Product, Finance, Engineering, Marketing teams as well as the GM of Borrow. Responsibilities are outlined below though it will be expected that the Borrow Operations Manager maintains a flexible attitude as the role solidifies based on the needs of the company. 

What you’ll do

  • Lay the groundwork for a successful launch and servicing of lending products at M1.  
  • Oversight and management of the success of customer servicing capabilities including working with external partners as necessary.  
  • Determine needs then oversee the implementation of operational procedures in support of lending products. 
  • Build out and develop a Borrow Operations support team including staffing planning, hiring and people management.  
  • Evaluate and drive partnership with external partners and vendors needed.
  • Ultimately be responsible for standing up lending products from an operational perspective in partnership with the Senior Manager of Spend Operations.
  • Assist the management team with balancing of short-term constraints vs longer term servicing needs. 
  • Gain a deep understanding of the customer experience at every step of the application process.  
  • Identify opportunities to improve the experience of our customers and employees by reducing friction without compromising quality or introducing risk. 
  • Track day-to-day activities of functional areas to ensure compliance to internal policy, legal and pertinent regulations.
  • Establish, monitor and maintain internal policies and procedures. 
  • Identify, escalate issues and propose recommended solutions regarding potential issues with process, systems and operations inefficiencies as they happen. 
  • Develop a strong working relationship with our partners and be their first point of contact in addition to being a subject matter expert internally and across departments.  

Qualifications

  • 5+ years of experience in lending operations, ideally in the fintech space 
  • People management and team development experience 
  • Experience developing processes, meeting deadlines, and paying close attention to detail 
  • Experience developing processes, meeting deadlines, and paying close attention to detail 
  • Strong analytical, metrics and data-driven mindset Experience in a fast-paced, high-activity environment 
  • Strong communication skills, with the ability to work cross-functionally and communicate with leadership 
  • Proven project management skills 
  • SQL experience, a plus 
  • Finance experience, a plus 

M1's Commitment to Diversity

M1 is proud to be an equal opportunity employer. We celebrate different experiences and we're committed to diversity, equity, and inclusion (DEI) at all levels of the company. Women, minorities, veterans, members of the LGBTQIA+ community, and individuals with disabilities are strongly encouraged to apply. With our three DEI task forces (internal education, recruiting, and community involvement), M1 employees and leaders set aside company time to tackle DEI projects and achieve goals every quarter. 

Our Values

Our team embodies our eight core principles and if these principles speak to you – we’d love to talk with you.

  • Mission Driven: We will passionately apply ourselves to deliver immense value to our customers, knowing if they succeed, so too will the company
  • Extreme Ownership: We think and act like owners. Our focus is building long-term value, not scoring short-term marks. We own everything in our domain, including the outcome and everything that affects it
  • Boldness: We want to do things of consequence. Make a difference. We would rather fail at something meaningful than succeed at something trivial
  • Bias for action: The best way to make progress is to act
  • Economical: Efficiency is important, and we consider both the costs and benefits of our actions
  • Team-oriented: In working together, we maintain a low ego, make everyone feel welcome, assume good intent, trust one another, and seek out different perspectives. We empower our teammates to be at their best
  • Challenged, but not overwhelmed: We are curious people who always want to grow. Growth happens outside our comfort zone. We achieve our potential through consistent, manageable growth
  • Integrity: We do the right thing. When we make mistakes, we own and correct them. We would be proud of our actions are shared with our family, friends, and strangers. Everyone can count on us to act according to our values, beliefs, and principles we state we hold. This trust must never be broken.

Our Perks 

  • Competitive Pay and Stock Options
  • Comprehensive health, dental, vision, disability, and life insurance
  • Retirement benefit with employer match
  • Unlimited PTO
  • $500 to spend on home office equipment while working from home
  • Stylish M1 swag
  • Socially distant team outings, celebrations, and events
  • Transparent and open communication with leadership
  • Office in the Loop with a Game Room and Gym
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Technology we use

  • Engineering
    • PythonLanguages
    • ScalaLanguages
    • SqlLanguages
    • SwiftLanguages
    • ReactLanguages
    • NodeJSLanguages
    • KotlinLanguages

An Insider's view of M1

What’s the vibe like in the office?

Laid back but very energetic at the same time. We're always working on the next product update, the next campaign, and while it can be a bit demanding, every team is good about providing flexibility and we celebrate all successes together.

Catalina

Art Director

How do you collaborate with other teams in the company?

Open communication and collaboration welcome at all times. We're always looking for ways to harness each other's expertise so that the whole is greater than the sum of the parts.

Patryk

Digital Marketing Specialist

What makes someone successful on your team?

We look for people who are smart, ambitious, hard-working, and friendly.

Steven

VP of Engineering

What is your vision for the company?

M1 should functionally change the way we manage our personal finances.

Steven

VP of Engineering

How do you empower your team to be more creative?

M1 has a mountain to climb, and we are always looking for more solutions. Any person on my team is empowered to come up with those solutions

Steven

VP of Engineering

What are M1 Perks + Benefits

M1 Benefits Overview

A great product is the result of a talented team and strong work culture. At M1, our philosophy is to hire unbelievably intelligent, motivated, high-integrity individuals and promote an environment that enables their best work. Our company’s culture reflects what creative, intelligent people value in their careers: meaningful and interesting work, a fun environment, and financially rewarding opportunities.

Find out more about our culture: https://m1.com/life-at-m1/

Culture
Volunteer in local community
M1 sponsors volunteer opportunities in the Chicago community each quarter, which allows us to give back, bond as a team, and spend time doing things that are important to the employees of M1.
Partners with Nonprofits
M1 partners with nonprofits such as Howard Brown Health and Junior Achievement.
Friends outside of work
Eat lunch together
Intracompany committees
M1 has groups dedicated to managing events and celebrations such as our annual holiday party.
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Pair programming
Open office floor plan
Diversity
Unconscious bias training
M1 offers unconscious bias, harassment, and interview training for all employees
Diversity manifesto
Diversity Employee Resource Groups
M1 has task forces for Internal Education, Community Involvement, and Diverse Hiring, and employee resource groups including: Mental Health at M1, Pride at M1, Black at M1, SomosM1, and Women at M1.
Hiring Practices that Promote Diversity
M1 tracks diversity on a bi-annual basis and reports on diverse hiring metrics to leadership and the M1 board
Health Insurance & Wellness Benefits
Disability Insurance
M1 covers this at 100%
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
M1 covers this at 100%
Wellness Programs
Onsite Gym
Mental Health Benefits
Retirement & Stock Options Benefits
401(K)
M1 uses a SIMPLE IRA, not a 401K, for our retirement benefit. It allows us to use the M1 platform to manage the retirement benefit
401(K) Matching
M1's 401(k) retirement plan matches 100% of your contributions up to 4%.
Company Equity
Match charitable contributions
Our CEO personally matches employee's charitable contributions
Child Care & Parental Leave Benefits
Generous Parental Leave
We provide up to 12 weeks of parental leave for the primary caretaker. M1 also provides 4 weeks of leave for the secondary caretaker.
Flexible Work Schedule
Remote Work Program
Family Medical Leave
Return-to-work program post parental leave
Vacation & Time Off Benefits
Unlimited Vacation Policy
Paid Holidays
Paid Sick Days
Perks & Discounts
Beer on Tap
Casual Dress
Commuter Benefits
Company Outings
Game Room
Stocked Kitchen
Happy Hours
Recreational Clubs
Home Office Stipend for Remote Employees
M1 allows employees to reimburse up to $500 for home office equipment for all employees.
Professional Development Benefits
Job Training & Conferences
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
M1 offers employees a learning and development stipend per calendar year to support continued learning and career growth.
Time allotted for learning
Paid industry certifications

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