Head of Credit Capital Markets

Head of Credit

Since our beginnings in 2017, we've grown to be a leading change‑maker in the digital asset space, renowned for our partnerships and innovation. Today, we rock with over 220 team members around the world. Our diverse team hails from 42 nationalities, with backgrounds ranging from DeFi natives to PhDs. Predominantly remote, we have hubs in London, Brussels, Singapore and Paris, and host regular online and offline hangouts to keep the crew tight.

Keyrock runs seven business verticals from market making, DeFi trading and options to institutional OTC trading; the firm is looking to expand and establish itself as a full service financial institution through both organic innovation and inorganic growth. At Keyrock, we’re not just envisioning the future of digital assets, we’re actively building it.

We are seeking a highly motivated Head of Credit Capital Markets to establish Keyrock’s Credit Desk. You will be the driving factor in identifying, strategising and executing Keyrock’s vision for its debt capital markets business, spanning both institutional credit and on‑chain borrow/lend.

• Strategy & management:
  Develop and execute a cohesive credit strategy that unifies the firm’s various credit activities, including on‑chain lending, off‑chain bilateral loans, structured financing and other. Lead and align cross‑functional credit teams to ensure strategic consistency, operational excellence, and measurable results across all business lines.
• Credit underwriting:
  Conduct in‑depth fundamental analysis of borrowers across Fiat, Crypto, and Stablecoin exposures. Perform detailed reviews of loan tapes, evaluate legal structures (including SPVs and bankruptcy‑remote vehicles), and assess the enforce ability and quality of collateral across diverse instruments.
• Risk:
  Design and oversee comprehensive credit risk frameworks covering counter party evaluation, collateral optimization, and capital allocation. Monitor key performance and risk indicators—including “Health Factors” and smart contract vulnerabilities—on a continuous basis. Develop internal stress‑testing models to evaluate portfolio resilience under volatile market conditions. Establish and maintain robust credit policies, exposure limits, and governance standards governing all underwriting and counter party activities.
• Research:
  Stay at the frontier of market developments across both traditional institutional credit and emerging on‑chain DeFi credit markets. Identify and evaluate new market structures, innovative financing models, client segments, and evolving risk trends to inform strategy and maintain competitive advantage.
• Cross‑function leadership and collaboration:
  Partner closely with trading, treasury, DeFi credit, risk, and legal teams to ensure optimal capital efficiency, strategic alignment, and disciplined risk management across all transactions.
• Represent the credit business externally: maintain relationships with institutions, borrowers, protocols, and liquidity providers, turning Keyrock’s credit desk into a de‑facto Credit desk for fiat, crypto and stable coins.

• The “Trad Fi” Credit Foundation
  : 6+ years of experience in Repo Trading, Prime Brokerage, Structured Finance, or Fixed Income. You must understand cost of funding, collateral haircuts, rehypothecation risks, and ISDA/credit terms.
• Management
  : A track record of senior management position/s. This role will see you control the whole Credit desk team.
• Technical Skills
  :
  The ideal candidate is proficient in Python. You will be expected to write your own scripts to query on‑chain data, automate interest rate tracking, and backtest credit strategies.
• DeFi & Smart Contract Proficiency
  :
  Preferred:
  Knowledge of DeFi lending mechanics (AMMs, utilization curves, liquidation logic). Preferred:
  Ability to read Solidity and review smart contracts to identify basic security risks or non‑standard logic before we deploy capital.
• RWA Competency
  :
  Demonstrated understanding of the current RWA landscape and the legal mechanisms used to bridge off‑chain assets to on‑chain tokens.
• Risk Management
  :
  Proven track record of managing a book of…