Credit Risk Analyst

What you'll do

• Underwrite institutional and on-chain credit relationships, and build/own the credit models for RWA assets — 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: 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: 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: 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: borrower financial condition, covenant compliance, delinquency trends, and NAV integrity; flag deterioration early and work remediation or exit with Capital Markets.
• Stress the book: elevated delinquency, funding-rate shocks, correlated default, and originator failure — validating that structural protections hold under tail conditions.
• Maintain on-chain risk parameters: 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.

What you bring

• 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: PD/LGD modeling, loss-curve and vintage analysis, advance-rate structuring, covenant design, and stress testing.
• Hands-on exposure to one or more of: 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 (e.g., Morpho, Aave, tokenized ABS).
• Crypto-native credit risk: smart-contract risk, oracle failure, depeg events, and on-chain collateral liquidity.
• Prior work with RWA issuers, fintech lenders, or asset originators — understanding the pipeline and servicing behind the loan tape.
• Exposure to prime-brokerage credit, repo, or securities financing from a risk perspective.

Who thrives here

• Naturally curious about digital assets, DeFi, and the evolution of institutional credit. Prior crypto experience is not required — curiosity is.
• Wants to own the full credit function, not just run models. Comfortable building frameworks from scratch, setting standards, and defending views with Capital Markets and senior leadership.
• Operates with significant autonomy in an entrepreneurial environment. Wants to build the credit infrastructure, not inherit it.
• Analytically rigorous but commercially aware — understands the credit function exists to enable deal flow, not block it, and manages that tension thoughtfully.

Benefits and Perks

• 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