Credit Risk Analyst

You will own credit risk for institutional and on-chain lending, define underwriting standards, design the frameworks, set the redlines, and act as the internal check on every asset onboarding decision, coordinating with Capital Markets, Vault Curation, and senior leadership. If you want to build the credit infrastructure for on-chain institutional finance rather than maintain someone else's, read on.

Responsibilities

• Underwrite institutional and on-chain credit relationships and build the credit models for RWA assets including PD LGD frameworks, vintage loss curves, advance-rate haircut schedules, and stress scenarios.
• Run the due-diligence gate for new credit and asset-issuer relationships including structured protocol reviews (solvency, oracle infrastructure, governance, security posture), historical on-chain data analysis, counterparty financials and legal structure, redlines, and final deal approval.
• Set the guardrails for each credit product including minimum rate floors, maximum terms, concentration limits per borrower and asset class, eligible collateral, and first-loss buffer sizing for tranched structures.
• Partner with Capital Markets on structuring including credit input on term sheets (rate, term, size, collateral, covenants, margin-call triggers); co-design trust tranches, covenants, advance-rate schedules, and facility limits for securitized products before close.
• Monitor the portfolio including borrower financial condition, covenant compliance, delinquency trends, and NAV integrity; flag deterioration early and work remediation or exit with Capital Markets.
• Stress the book including elevated delinquency, funding-rate shocks, correlated default, and originator failure — validating that structural protections hold under tail conditions.
• Maintain on-chain risk parameters including supply caps, LLTV settings, exposure thresholds, and related controls.
• Shape credit terms guidance (what we can offer, at what rate, term, and collateral conditions) and track emerging yield strategies, protocols, and issuers to give Curation a competitive edge.

Requirements

• 3–6 years in credit risk, structured finance, leveraged finance, or asset-backed lending at a leading financial institution, credit fund, or fintech lender.
• Direct credit-underwriting experience including PD/LGD modeling, loss-curve and vintage analysis, advance-rate structuring, covenant design, and stress testing.
• Hands-on exposure to direct lending, warehouse facilities, ABS/CLO structuring, securitization, asset-backed finance, or structured credit.
• Strong grasp of legal/structural credit concepts: SPV formation, bankruptcy remoteness, security-interest perfection, covenant packages, and waterfall mechanics.
• Portfolio-monitoring experience: delinquency tracking, covenant compliance, borrower financial review, and early-warning systems.
• Exceptional written and verbal communication - able to distill complex credit analysis into clear, actionable recommendations for non-credit stakeholders.
• Experience building or maintaining quantitative risk models in Python or R.
• Bonus points: on-chain credit protocols, DeFi lending markets, or tokenized-asset structures.
• Bonus points: crypto-native credit risk including smart-contract risk, oracle failure, depeg events and on-chain collateral liquidity.
• Bonus points: prior work with RWA issuers, fintech lenders, or asset originators — understanding the pipeline and servicing behind the loan tape.
• Bonus points: exposure to prime-brokerage credit, repo, or securities financing from a risk perspective.

Benefits

• Remote first - work from anywhere in the US & CAN!
• Regular in-person company retreats and cross-country office visit perk
• 100% paid medical, dental and vision premiums for employees
• $1,000 WFH stipend
• Monthly reimbursement for home internet, phone, and cellular data
• Unlimited vacation
• 100% paid parental leave of 12 weeks
• Fertility benefits
• Opportunity for incentive compensation