Director of Counterparty Risk Management, Bitgo
$170-210k
+ Equity + an annual performance bonus
Office located in Palo Alto, CA
Digital asset financial services for instuitutions
Open for applications
Digital asset financial services for instuitutions
201-500 employees
Open for applications
$170-210k
+ Equity + an annual performance bonus
Office located in Palo Alto, CA
201-500 employees
Company mission
BitGo's mission is to deliver trust in digital assets.
Role
Who you are
- 10 years of experience in risk and credit management in the financial markets
- BitGo is looking for people who are passionate about their craft, take full ownership for their work and projects, and believe in transparent and collaborative culture with the goal of making BitGo successful
- Able to apply risk and control disciplines in an effective manner
- Must be comfortable in a fast-moving, dynamic start-up environment
- Collaborate comfortably with remotely located colleagues and counterparties
- Technical understanding of the quantitative and qualitative risks impacting lending and financing is highly desirable
- Crypto asset product knowledge including risk modeling is highly desirable
- Strong analytical skills and attention to detail
- Intellectually curious and able to execute sound judgment to appropriately characterize and represent risk issues
- Structured yet flexible approach, balanced and fair, able to make difficult decisions where necessary
What the job involves
- The Director of Risk Management will work for BitGo in our Palo Alto, CA office and is responsible for measuring and monitoring risk across the cryptocurrency trading and lending businesses, as well as performing credit review on all counterparties
- The risk manager will report to the Chief Financial Officer and work closely with the Sales, Trading and Operations teams
- Providing risk oversight for business activities and risk
- Ensuring that the risk framework and procedures are defined, implemented and followed, and
- That issues are quickly identified and resolved or escalated
- Significant involvement with strategic and development work as it relates to enhancing stress
- Testing, risk analytics and intra-day risk management tools
- Risk assessment and approval as required for new or material changes to margin financing and
- Collateral arrangements
- Running stress testing and VaR analysis of client portfolios and providing oversight of limit
- Utilizations where relevant
- Identifying, evaluating, and analyzing risk across the business platform, including counterparty,
- Country, asset, exchange, currency, concentration, and other risk components
- Developing strong relationships with key stakeholders across business functions
- Understanding changes to market structure, regulation and best practices
Our take
The digital asset industry is maturing, with asset companies looking to shore up their positions by adding secure custody capabilities. This is good news for BitGo, an independent, regulated cryptocurrency custodian company providing security, custody, and liquidity solutions.
BitGo’s flagship multi-signature wallet solution helps its clients mitigate risk and optimize capital efficiency. The company has subsequently expanded to also cover a number of areas that are critical for any holder of major crypto assets - like portfolio and tax management. In this, BitGo was smart to focus exclusively on institutional clients: there’s huge appetite among larger players to expedite the mainstreaming of crypto, and they’ll need precisely BitGo’s tools to get there.
BitGo was in talks to be acquired by PayPal, and most recently Galaxy Digital, which speaks to a strong institutional confidence in the crypto wave. In spite of a rocky year for the digital assets (which now sees BitGo suing Galaxy Digital for pulling out of the acquisition deal), BitGo has manoeuvred itself into a central position to capitalize on what, now, seems a near-inevitable period of mass adoption. Exemplifying this, the BitGo Ventures wing of the company was launched in 2024 to partner with and invest in cutting edge blockchain and fintech startups.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
-26% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Aug 2023
$100m
SERIES C
Oct 2018
$16m
SERIES B
Total funding: $170.5m
Company benefits
- Company-paid medical, dental, and vision plans
- Catered lunches, fresh snacks, and gourmet coffee
- Commuting made easy with company-paid Caltrain passes
- Competitive compensation, stock options, and 401k plan
- Top-end computer equipment to power your work
- Flexible vacation time
- Remote/hybrid friendly with physical location workspaces
Company values
- Open communication
- Craftsmanship
- Accountability
- Collaboration
- Client-first
Company HQ
Evergreen Park, Palo Alto, CA
Articles
Leadership
Mike Belshe
(CEO)Previously Director of Engineering at Good Technology, who went on to found Cookout Software - and then move to Google as a Software Engineer/Development Manager when the latter company bought out the startup. Has served as BitGo CEO for over a decade.
Ben Davenport
(Advisor)Has spent time as a Software Engineer at Microsoft, Google, and Facebook, and worked on algorithm development at Hudson River Trading. Additionally co-founded and led Beluga, a mobile group messaging solution that was ultimately bought by Facebook, and became Facebook Messenger.
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