General Manager, Artist Advances

Stem exists to help artists navigate the business behind their music. We do this by reducing complexity, creating clarity, and providing more opportunities to exercise full control. The artists on our platform decide for themselves how their hard-earned dollars flow–whether through splits to their collaborators or by scaling their earnings to invest in their futures with no strings attached.

Stem is looking for a General Manager, Artist Advances to own Scale, our advances offering for artists and their collaborators. This role will be at the forefront of music financing, shifting the paradigm of how artists access capital to grow by clearly showing how much they’re paying and enabling them to retain ownership of their intellectual property. 

This person will initially work closely with our analysts and head of business intelligence, taking a hands-on approach to learn our underwriting process. They will then zoom out to manage the team of analysts as they work through daily underwriting requests, and prioritize improvements to our underwriting and performance tracking processes. The General Manager, Artist Advances will also maintain a strong relationship with our capital partner(s), uphold Stem’s interests and positioning in the marketplace and look for opportunities to expand our offering by engaging new sources of capital.

This role is full-time and fully remote, with occasional in-person get-togethers in Los Angeles for which we cover travel / lodging for out-of-town employees.


Our team:

Stem Disintermedia is led by a driven & collaborative team from diverse backgrounds, including senior professionals from UTA, PeerStreet, Hired, Apple Music, and FlashFunders. Our highly-strategic group of investors and senior advisors include former COO of Venmo Michael Vaughan, Acorns board member and former Wealthfront CEO Adam Nash, Carta CEO Henry Ward, Quality Control Music (Cardi B, the Migos and Lil Yachty) co-founder and COO Kevin "Coach K" Lee, Three Six Zero CEO Mark Gillespie, two-time NBC All-Star Baron Davis and WndrCo. Our employees include musicians, parents, activists, artists, and more - what unites us are our shared values, commitment to exceptional communication, and belief in Stem’s mission.


What You'll Do:

- Lead and manage an ever expanding underwriting team that accurately and expeditiously underwrites artist advances

- Oversee the performance of Stem’s advances portfolio, applying lessons from underperforming advances to mitigate future risk

- Further optimize the existing underwriting process by experimenting with new strategies to forecast the value of future releases, and the decay of existing catalog

- Proactively report on the health of the portfolio and impact of optimizations and experimentation

-Conduct regression analysis to understand the impact of various dimensions and adjust the underwriting process accordingly

- Leverage external and internal data sources to creatively experiment with new metrics that would improve forecasting accuracy

- Coordinate with Stem’s finance team to manage repayments and our portfolio tape

- Ensure the offering functions as an effective tool to both close new distribution targets and retain the existing client base

- Deepen relationships with existing capital partners 

- Act as the liaison between the client team, underwriting team and product team to advocate for both internal process automation as well as external features for the client base

- Scout, structure and close new facilities to further round out gaps in the existing offering

- Educate the distribution team on the intricacies of underwriting process to help them better articulate the deal points and logic to prospective clients 

- Assist in the positioning of Scale in the marketplace

- Collaborate with marketing team to create an ever evolving sales and marketing collateral for the offering

- Assume the position of a thought leader in alternative financing options within the music industry


Our Ideal Candidate Has:

- Experience building proprietary models to forecast the value of complex assets

- 10+ years of experience in a finance role

- 5+ years of experience in a finance role within the music industry

- 4+ years of experience managing analysts or underwriters 

- Experience managing relationships with financial institutions

- Been a part of the deal making process with artists, managers and labels

- A proven track record of advancing on music assets

- An understanding of the distribution and label landscape, specifically through the lens of deal structure

- Built a proprietary model to forecast the value of complicated asset class 

- Led negotiations to adapt the structure of an agreement over time


It’s a bonus if you have:

- A strong network of financial lenders 


Benefits:

+ Competitive compensation package including equity for all full-time employees.

+ We maintain salary brackets for all career tracks to ensure equitable salaries across the company.

+ 100% premiums covered for employee medical, dental, and vision (60% for dependents)

+ Company 401(k) match up to 4%.

+ Unlimited paid time off

+ FSA

+ Life insurance

+ Student loan pay down program

+ Excellent parental leave policies 


**Stem is an equal opportunity employer, and more than that, actively strives to build and nurture a diverse, inclusive, and equitable team.  We celebrate differences and screen for shared values rather than culture fit.  We are committed to providing employees with a work environment free of discrimination and harassment.**

Additional Info

Job Type : Full-Time

Education Level : Bachelors Degree

Experience Level : Manager

Job Function : Analyst, Business Development, Business Management

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