Credit Risk Analyst

This is a fully remote position, open to applicants in New York.

📋 Description

• Underwrite credit relationships for institutions and on-chain assets, while developing and managing credit models for RWA assets, including PD/LGD frameworks, vintage loss curves, advance-rate haircut schedules, and stress scenarios.

• Oversee the due diligence process for new credit and asset-issuer partnerships, conducting structured protocol assessments (solvency, oracle infrastructure, governance, security posture), analyzing historical on-chain data, reviewing counterparty financials and legal structures, and finalizing deal approvals.

• Establish guidelines for each credit product, including minimum rate floors, maximum terms, concentration limits by borrower and asset class, eligible collateral, and sizing of first-loss buffers for tranched structures.

• Collaborate with Capital Markets in structuring, providing 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 prior to closing.

• Monitor the portfolio by assessing borrower financial conditions, covenant compliance, delinquency trends, and NAV integrity; promptly identify deterioration and coordinate remediation or exit strategies with Capital Markets.

• Stress test the portfolio under high delinquency rates, funding-rate shocks, correlated defaults, and originator failures, ensuring that structural protections remain effective during extreme conditions.

• Maintain on-chain risk parameters such as supply caps, LLTV settings, exposure thresholds, and associated controls.

• Develop credit terms guidance (including what can be offered, at what rates, terms, and collateral conditions) while tracking emerging yield strategies, protocols, and issuers to provide Curation with a competitive advantage.

⛳️ Requirements

• 3–6 years of experience in credit risk, structured finance, leveraged finance, or asset-backed lending at a prominent financial institution, credit fund, or fintech lender.

• Direct experience in credit underwriting: including PD/LGD modeling, loss-curve and vintage analysis, advance-rate structuring, covenant design, and stress testing.

• Practical experience in one or more of the following areas: direct lending, warehouse facilities, ABS/CLO structuring, securitization, asset-backed finance, or structured credit.

• Strong understanding of legal and structural credit concepts such as SPV formation, bankruptcy remoteness, security-interest perfection, covenant packages, and waterfall mechanics.

• Experience in portfolio monitoring, including delinquency tracking, covenant compliance, borrower financial reviews, and early-warning systems.

• Excellent written and verbal communication skills, capable of translating complex credit analyses into clear, actionable recommendations for non-credit stakeholders.

• Experience in building or maintaining quantitative risk models using Python or R.

• Bonus points for experience with on-chain credit protocols, DeFi lending markets, or tokenized asset structures (e.g., Morpho, Aave, tokenized ABS).

• Knowledge of crypto-native credit risks, including smart-contract risk, oracle failures, depeg events, and on-chain collateral liquidity.

• Previous experience working with RWA issuers, fintech lenders, or asset originators, with an understanding of the pipeline and servicing behind the loan tape.

• Exposure to prime brokerage credit, repo, or securities financing from a risk management perspective.

🏝️ Benefits

• Remote-first policy - work from anywhere in the US & CAN!

• Regular in-person company retreats and a cross-country "office visit" benefit.

• 100% coverage for medical, dental, and vision premiums for employees.

• $1,000 work-from-home stipend.

• Monthly reimbursements for home internet, phone, and cellular data expenses.

• Unlimited vacation policy.

• 100% paid parental leave for 12 weeks.

• Fertility benefits are available.

• Opportunity for incentive compensation.