Associate, Credit and Market Risk at Gemini (Chicago, IL)
Empower the Individual Through Crypto
Gemini is a crypto exchange and custodian that allows customers to buy, sell, store, and earn more than 30 cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and Zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through crypto.
Crypto is about giving you greater choice, independence, and opportunity. We are here to help you on your journey. We build crypto products that are simple, elegant, and secure. Whether you are an individual or an institution, we want to help you buy, sell, and store your bitcoin and cryptocurrency. Crypto is not just a technology, it's a movement.
The Department: Risk Management
Our Risk department plays a critical role in proactively identifying, assessing, responding to, and communicating Gemini's exposure, both internally and externally. Our Risk team is building a robust second line of defense in a first-of-its kind industry; our goal: safeguard Gemini so that we can continue to empower the individual through crypto.
The Role: Credit & Market Risk Associate
Gemini is looking for a Credit & Market Risk Associate to be part of the wider risk management function. The risk management function works closely with various teams across Gemini including products, trading, operations, engineering, compliance and audit to manage inherent risks in processes of the Company. We are looking for someone who can bring a mix of credit & counterparty risk as well as market risk management expertise while at the same time a critical, quantitative and hands-on approach to help manage the credit & market risk faced by Gemini. The role will require the individual to implement risk solutions for counterparty and market risk monitoring and recommend potential risk mitigation actions. The role provides an exciting opportunity to understand and help build risk infrastructure of an evolving asset class and products. The role will provide an opportunity to challenge the most fundamental risk management principles and implement solutions which suit the new and evolving asset class with a beginner's mindset. To excel in this role, the individual will need to be proactive and use his/her experience, analytical skills and technical ability to add value to the organization.
This role is either full time in office or hybrid office/remote and can be based in New York City, Seattle, or San Francisco.
- Conduct thorough analysis of financial statements and assessment of credit requests, including new requests, changed requests etc.
- Lead analysis of derivative and financing transactions including credit risk considerations and views of collateral, including analysis of credit protections and covenants
- Identify and monitor market risk across various existing and new products and derivatives including futures, options and structured products.
- Monitor intraday and overnight market and counterparty risk exposure at portfolio and single-product levels and highlight key risks as needed.
- Follow developments in the cryptocurrency markets and help build, revise and enhance risk limits, methodologies and processes.
- Present analysis, findings, and recommendations to managers and senior leaders, especially findings that involve a counterparties ability to repay and/or meet their margin collateral obligations
- Develop and prepare models to support analysis of new and existing credit applications from counterparties
- Help to design and improve policy based risk management and governance framework in the organization.
- Develop and manage relationships with internal business stakeholders
- Partner with products, data, engineering and operations team to implement risk related monitoring/reporting infrastructure and risk mitigation processes.
Qualifications & Skills:
- Bachelor's degree with specialization in mathematics, statistics, engineering or any other quantitative discipline. Master's degree preferred.
- 2-3 years of relevant experience in the financial risk and/or credit and counterparty risk management field with a strong quantitative and technical background.
- Ability to effectively manage competing deadlines for projects in a fast paced, high-pressure work environment, with varying degrees of supervision
- Strong attention to detail and ability to notice discrepancies in data
- Impeccable understanding of financial statements, ratios, and concepts
- Knowledge of traded assets and derivatives including futures, options, structured products and their risk characteristics.
- Programming skills in SQL, VBA, Python will be beneficial
- Cryptocurrency experience is a plus
Preferred Professional Qualifications:
CFA, FRM, PRM designations.
It Pays to Work Here
We take a holistic approach to compensation at Gemini, which includes:
- Competitive Compensation and Profit-Sharing Equity
- Flexible vacation policy
- Retirement Plan Matching
- Generous Parental leave
- Comprehensive health plans
- Training and professional development
Salary Range: In compliance with Colorado's Equal Pay for Equal Work Act and the New York City Pay Transparency Law, the base salary range for this role is between $86,000 - $107,000 in Colorado and $95,000 - $133,000 in New York City. This range is not inclusive of our discretionary bonus or equity package. When determining a candidate's compensation, we consider a number of factors including skillset, experience, job scope, and current market data.
At Gemini, we strive to build diverse teams that reflect the people we want to empower through our products, and we are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or Veteran status. Equal Opportunity is the Law, and Gemini is proud to be an equal opportunity workplace. If you have a specific need that requires accommodation, please let a member of the People Team know.