Treasury Manager

At Underdog, we make sports more fun.

Our thesis is simple: build the best product for sports fans and we will win the space. Founded in 2020, we're one of the fastest-growing sports companies ever, and there’s still so much left to do. We've built and scaled products across fantasy sports, sports betting, and prediction markets, all united in one app that’s seamless, intuitive, and actually fun to use.

Underdog isn’t for everyone. One of our core values is give a sh
* t. The people who win here are the ones who care, push, and perform. We’re remote-first by design, but highly collaborative with regular in-person gatherings that help teams build, iterate, and move fast together.

Got that dog in you? Join us.

After all, winning as an Underdog is more fun.

This role sits at the intersection of a high-growth sports company and regulated financial markets, with direct responsibility for treasury operations within a registered Futures Commission Merchant (FCM). You'll manage real capital movement, liquidity and regulatory safeguards in an environment where accuracy, judgment and urgency matter every day.

Working closely with cross functional teams, you'll run the daily customer protection computations and cash management that underpin our regulatory standing, while contributing to how treasury strategy, governance and banking relationships develop as the business scales. It suits someone comfortable being both operator and builder, who does their best work where the process is still taking shape.

Customer protection and regulatory operations:

• Prepare and own the daily customer fund segregation and secured amount calculations under CFTC regulations, and strengthen the controls supporting them

• Monitor monthly settlement bank concentration limits and counter party credit condition — ratings, outlook, capital and liquidity indicators — across all depositories holding customer funds

• Support regulatory reporting, audits and examinations covering treasury and cash management

• Work with Accounting, Compliance and Operations to keep treasury processes accurate, timely and compliant

Cash movement and liquidity:

• Manage daily cash positioning against customer withdrawals, exchange margin requirements and regulatory minimums

• Initiate, review and release wire transfers under strict internal controls and approval workflows

• Support exchange and clearinghouse margin funding, including initial and variation margin

• Monitor liquidity, maintain accurate records of cash, collateral and bank balances, and build forecasting in partnership with Finance

Banking relationships and capital efficiency:

• Build and maintain banking and payment provider relationships that meet corporate and product team needs

• Take a lead role in negotiating banking, payment provider and credit facility terms, partnering closely with the Product team and Finance leadership

• Help develop our approach to excess cash and yield within regulatory and policy constraints

Governance and development of the function:

• Contribute to the development of treasury policy, controls and authorization frameworks as the function matures

• Evaluate treasury technology needs and identify opportunities to improve systems, controls and automation

• Partner with Product and Engineering, where liquidity planning ties directly to product mechanics, and with Accounting on treasury reporting and reconciliation

• You have significant treasury, cash management or regulatory operations experience in a regulated financial institution — FCM, broker-dealer, clearing firm or bank — including operating a treasury function, not only supporting one

• You have genuine prior exposure to FCM, DCM and DCO operations and to the market-maker side of a business

• You are familiar with customer…