Credit Risk Analyst

Own credit risk across institutional and on-chain lending, define underwriting standards, design risk frameworks, set redlines, and oversee asset-onboarding decisions in partnership with Capital Markets, Vault Curation, Product, Engineering, and senior leadership.

Responsibilities

• Underwrite institutional and on-chain credit relationships and build PD/LGD, vintage loss, advance-rate, and stress-testing models.
• Run due diligence on credit and asset-issuer relationships, including protocol, counterparty, legal, solvency, oracle, governance, and security reviews.
• Set credit-product guardrails covering rates, terms, concentration, collateral, and first-loss buffers.
• Partner with Capital Markets on term sheets, tranches, covenants, advance rates, and securitized facilities.
• Monitor borrower financial condition, covenant compliance, delinquency, and NAV integrity, and manage remediation or exit.
• Stress the credit book and validate structural protections under adverse scenarios.
• Maintain on-chain risk parameters including supply caps, LLTV settings, and exposure thresholds.
• Shape credit-terms guidance and track emerging yield strategies, protocols, and issuers.

Requirements

• 3–6 years of experience in credit risk, structured finance, leveraged finance, asset-backed lending, or a related field.
• Direct credit-underwriting experience with PD/LGD modeling, loss curves, vintage analysis, advance-rate structuring, covenant design, and stress testing.
• Experience with direct lending, warehouse facilities, ABS/CLO structuring, securitization, asset-backed finance, or structured credit.
• Strong understanding of SPVs, bankruptcy remoteness, security-interest perfection, covenant packages, and waterfall mechanics.
• Portfolio-monitoring experience including delinquency tracking, covenant compliance, borrower financial review, and early-warning systems.
• Exceptional written and verbal communication skills.
• Experience building or maintaining quantitative risk models in Python or R.
• Bonus experience with on-chain credit, DeFi lending, tokenized assets, crypto-native credit risk, RWA issuers, repo, or securities financing.

Benefits

• Remote first with work from anywhere in the US and Canada
• Regular in-person company retreats and cross-country office visit perk
• 100% paid medical, dental, and vision premiums
• $1,000 work-from-home 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