Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases - like powersports vehicles, RVs, and OPE - fast, easy, and accessible.
Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.Founded in 2014, we’re a remote-first company with 550+ employees and over 30 OEM and 4,000 dealer partners.As a Vice President of Captive Lending within the newly-formed captive business unit, you will be responsible for financing and capital markets strategy across all of our captive lending programs.
You will work closely with the core finance and capital markets teams at Octane to define the captive lending structures that will help us achieve our goal of deriving 70% of pre-tax income from captive programs by 2028. Specifically, these will include novel SPV structures, participation and loss sharing arrangements, and new ABS issuance strategies. You will also be responsible for developing a P/L to manage the economics of our captive programs and support faster decision making as we scale out the business unit. Lastly, you will partner with the Senior Vice President, Captive Lending, as well as sales leadership to bring our captive offerings to market. You’ll help our dealer and OEM partners understand the value of captive lending to their business, and work with them to structure long-term partnerships that meet their needs. Captive lending is critical to our company’s growth strategy, and to our ability to raise equity in the public markets.
As such this role will offer a high level of visibility within the organization. A substantial portion of your time will be spent working directly with C-level leaders and SVPs as we pivot our existing business towards captive lending. To be successful in the role, you will need to be comfortable with a high degree of autonomy, and excited by the prospect of bringing new deal structures to life. You will need to work cross-functionally with our Credit, Finance, Legal, Strategy, and Sales teams to synthesize the component parts of our captive offerings into a workable financial plan. And critically, you must be able to communicate complex financial concepts simply to our dealers, OEMs, and internal stakeholders. This role reports to the Senior Vice President, Captive Lending.
Responsibilities
- Own financial modeling of all captive programs
- Partner with legal, finance, and account teams to structure captive arrangements with dealership groups and OEMs
- Work closely with the Senior Vice President, Captive Lending and C-level leadership to define economic goals and business strategy for captive offerings
- Coordinate with finance on all ABS structuring assumptions for captive partnerships
- Ensure captive transactions and monthly reporting are executed correctly
- Develop and maintain a P/L for the captive business unit that tracks our economic performance and key metrics across all verticals
- Partner with the finance and FP&A teams to ensure that the balance sheet implications of captive strategies are accounted for
- Support captive partners in understanding the corporate finance implications of captive programs, and the optimal way they can implement captive lending within their business
- Develop off-the-shelf models and charts that simply explain our captive programs to aid in sales conversations, monthly update presentations, and quarterly business reviews
Requirements
- Bachelor's degree
- Minimum 10+ years of experience in banking with a focus on ABS transactions
- Substantial experience engaging with clients and managing relationships
- Experience leading a team of associate and analyst level hires
- Excellent project management skills
Compensation:
The role described above offers a base salary of $200,000 to $240,000. Your offer will be based on the alignment of your qualifications with the requirements of the job, location and internal equity. In addition to the above-mentioned salary, Total Rewards include a stock option package, and benefits as outlined below.
Benefits
- Robust Health Care Plans (Medical, Dental & Vision)
- Generous Parental Leave
- Up to 5 weeks time off (self-managed)
- Retirement Plan (401k) with company match!
- Educational Assistance/Tuition Reimbursement up to $3K/year
- Life Insurance (Basic, Voluntary & AD&D)
- Short Term / Long Term Disability
- Robust Ancillary benefits including accident insurance, hospital insurance, etc.
- Wellhub (Gympass) wellness benefit
- Powersports Safety Benefit
Octane Lending is an equal opportunity employer committed to providing equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status with respect to recruitment, hiring, promotion and other terms and conditions of employment.#LI-JL1#LI-Remote
