Treasury Analyst, Regulatory Operations (FCM

At Underdog, we make sports more fun. Our thesis is simple: build the best products and we’ll build the biggest company in the space, because there’s so much more to be built for sports fans. We’ve built and scaled multiple games and products across fantasy sports, sports betting, and prediction markets, all united in one seamless, simple, easy to use, intuitive and fun app.

Underdog isn’t for everyone. We value grit, passion, and performance. If that’s you, come join us.

This role sits at the intersection of a high-growth sports company and regulated financial markets. You’ll manage real capital movement, liquidity, and regulatory safeguards in a fast-moving environment where accuracy, judgment, and urgency matter every day. Your work will directly support product growth while protecting the financial foundation of the business.

• Execute and monitor daily customer fund segregation and secured amount calculations in compliance with CFTC regulations
• Manage daily cash positioning to meet customer withdrawal requests, exchange margin requirements, and regulatory minimums
• Initiate, review, and release wire transfers with strict adherence to internal controls and approval workflows
• Support exchange and clearinghouse margin funding, including variation and initial margin movements
• Monitor liquidity and identify potential shortfalls or excesses, escalating issues as needed
• Maintain accurate records of cash movements, collateral, and bank balances across multiple accounts
• Support regulatory reporting, audits, and examinations related to treasury and cash management activities
• Collaborate with Accounting, Compliance, and Operations to ensure accurate, timely, and compliant treasury processes

• You have 2-4+ years of experience in a treasury, cash management, or financial operations role, ideally within an FCM, broker-dealer, or other regulated financial institution.
• You have a strong understanding of treasury management systems (TMS), wire transfers, and daily cash reconciliation processes.
• You possess exceptional attention to detail; you understand that an error in a calculation or a wire transfer has significant financial and regulatory consequences.
• You are comfortable in a high-pressure, daily-deadline-driven environment.
• You hold a Bachelor’s degree in Finance, Accounting, or a related field.
• You are independent and understand the importance of segregation of duties, reporting directly into the finance vertical and remaining separate from the trading desk.

• Direct, hands-on experience preparing the daily customer segregation calculation.
• Direct experience with NFA's Win Jammer portal and preparing SIDR filings.
• CTP (Certified Treasury Professional) designation.
• Familiarity with CFTC regulations.
• 1.20 – 1.32.

• Unlimited PTO for full-time employees (we’re extremely flexible with the exception of the first few weeks before & into the NFL season)
• 16 weeks of fully paid parental leave
• Home office stipend
• A connected virtual-first culture with a highly engaged distributed workforce
• 5% 401k match, FSA, company paid health, dental, vision plan options for employees and dependents

We're a remote-first company and value in-person connection. That said, we expect everyone to gather 2-3 times per year for team and company offsites, trainings, and more.

This position may require sports betting licensure based on certain state regulations.

Underdog is an equal opportunity employer and doesn't discriminate on the basis of creed, race, sexual orientation, gender, age, disability status, or any other defining characteristic.

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