About RockawayX
RockawayX is a global digital asset investment and engineering firm, combining venture investing, systematic yield strategies, and infrastructure to power the on-chain economy. The firm manages approximately $2bn in assets across venture, yield, and infrastructure strategies, backing 100+ early-stage crypto projects and acting as an institutional liquidity provider across DeFi.
RockawayX is now expanding its risk function into credit risk for tokenized real-world assets (RWA), with a focus on building institutional-grade RWA vaults on chains such as Solana in collaboration with leading DeFi and RWA partners.
The Opportunity
The Credit Risk Analyst will build and own the credit risk layer underpinning RockawayX’s RWA strategies and multi-asset RWA allocation vaults. You will translate traditional credit and RWA methodologies into robust on-chain risk frameworks, covering tokenized credit exposures, loan pools, and structured products integrated into our yield platform.
You will work closely with the risk curation, engineering, and investment teams to define risk appetite, assess counterparties and structures, and ensure that all RWA allocations meet RockawayX’s standards for capital preservation, diversification, and institutional-grade transparency.
Key Responsibilities
Credit assessment & underwriting
Conduct credit risk assessment of tokenized RWA issuers, originators, and underlying asset pools (e.g., private credit, trade finance, real estate, asset-backed facilities)
Evaluate tokenized structures and legal wrappers, including collateralization levels, seniority, covenants, and enforcement mechanisms for on-chain and off-chain claims
Develop and adapt traditional credit models (PD, LGD, EAD, stress scenarios) and concentration metrics to tokenized instruments and on-chain data
Collaborate with legal and structuring to review transaction documentation, term sheets, security packages, and servicing arrangements for RWA deals
Allocation frameworks & risk curation
Design and maintain RWA allocation frameworks for multi-asset RWA vaults, covering limits by issuer, sector, collateral type, tenor, and jurisdiction
Contribute to risk curation by balancing yield, duration, liquidity, and credit quality to support market-neutral and conservative yield strategies
Partner with DeFi, data, and engineering teams to embed credit risk metrics into internal analytics, monitoring tools, and vault risk parameters
Monitoring & reporting
Implement ongoing monitoring: exposure dashboards, early warning indicators, covenant tracking, and periodic review of RWA partners and facilities
Prepare clear, decision-ready risk memos and recommendations for internal committees and governance processes
Support external communication where needed (LP reporting, protocol partners, RWA platforms) on risk methodology and controls
Requirements
Core competencies
Credit analysis: Financial statement analysis, cash flow modeling, collateral evaluation, covenants, and recovery analysis
Structured products: Experience with securitizations, warehouse lines, or asset-backed facilities
Risk modeling: PD, LGD, EAD frameworks, stress testing, concentration metrics adapted to tokenized instruments
Regulatory awareness: Familiarity with Basel III/IV RWA treatment, collateral haircuts, credit conversion factors
Technical skills: Proficiency in Excel; exposure to SQL or Python for data-driven risk analysis
Communication: Ability to produce concise risk memos and explain complex structures to non-specialists
Required experience
3 to 7 years of experience in credit risk, structured credit, private debt, or RWA underwriting at a bank, asset manager, credit fund, or rating agency
Strong grasp of credit risk concepts: financial statement analysis, cash flow modeling, collateral evaluation, covenants, and recovery analysis
Experience analyzing securitizations, warehouse lines, or asset-backed facilities is highly valued
Solid analytical toolkit with proficiency in Excel; exposure to SQL or Python for data-driven risk analysis is a plus
Desired qualities
Genuine interest in DeFi, tokenization, and RWA vaults, with a willingness to learn on-chain mechanics and protocol design
Familiarity with RWA and regulatory capital concepts (Basel III/IV RWA treatment, collateral haircuts, credit conversion factors)
Strong written and verbal communication skills, with the ability to produce concise risk memos and explain complex structures to non-specialists
Self-starter mindset, comfortable operating in a fast-moving, entrepreneurial, and cross-functional environment
Benefits
We offer a competitive compensation package with flexibility on location and working arrangements:
Base salary: Competitive base salary commensurate with experience and seniority
Performance bonus: Performance-linked bonus tied to the growth and success of the RWA vault business
Flexibility: Dubai based or fully remote, with flexibility on working hours and arrangements
Growth: Opportunity to shape the credit risk framework for a leading institutional player at the intersection of DeFi and RWA
Why join RockawayX
Pioneering role: Define the credit risk framework for one of the leading institutional players at the intersection of DeFi, RWA, and market-neutral yield
Ecosystem access: Direct exposure to top-tier DeFi, RWA platforms, and infrastructure protocols where RockawayX is an active investor and liquidity provider
Collaborative team: Work alongside experts in venture investing, quantitative research, engineering, and risk curation
Scale: Approximately $2bn in assets under management across venture, yield, and infrastructure strategies
Network: 100+ portfolio companies and deep relationships across the crypto ecosystem