About the role
Gauntlet — a leading on-chain asset manager serving $1.5B+ in client TVL for fintech firms, crypto protocols, and institutional allocators — is hiring a Credit Risk Analyst to own the full credit lifecycle for its vault and lending products, from underwriting and deal structuring to ongoing portfolio surveillance across both DeFi and traditional structured finance.
Responsibilities
- Underwrite institutional and on-chain credit relationships using PD/LGD frameworks, vintage loss curves, advance-rate haircut schedules, and stress scenarios
- Run due-diligence reviews for new asset-issuer and credit relationships, including protocol solvency, oracle infrastructure, governance posture, counterparty financials, and legal structure
- Set credit guardrails: rate floors, maximum terms, concentration limits, eligible collateral, and first-loss buffer sizing for tranched products
- Partner with Capital Markets on term-sheet structuring, covenant design, and advance-rate schedules for securitized facilities
- Monitor the portfolio for covenant compliance, delinquency trends, NAV integrity, and borrower financial health — flagging deterioration early
- Maintain on-chain risk parameters: supply caps, LLTV settings, and exposure thresholds
- Build and maintain quantitative credit models in Python or R
Requirements
- 3–6 years in credit risk, structured finance, leveraged finance, or asset-backed lending at a financial institution, credit fund, or fintech lender
- Hands-on credit underwriting experience: PD/LGD modeling, loss-curve analysis, advance-rate structuring, covenant design, and stress testing
- Exposure to direct lending, warehouse facilities, ABS/CLO, securitization, or structured credit
- Strong grasp of legal/structural concepts: SPV formation, bankruptcy remoteness, security-interest perfection, and waterfall mechanics
- Experience building quantitative risk models in Python or R
- Exceptional written communication — able to distill complex credit analysis into clear recommendations
What we offer
- $160,000–$195,000 base salary plus On Target Earnings and equity
- 100% paid medical, dental, and vision premiums
- $1,000 WFH stipend
- Monthly reimbursement for home internet, phone, and cellular data
- Unlimited vacation
- 100% paid parental leave (12 weeks)
- Fertility benefits
- Regular in-person company retreats
- Remote-first across US and Canada