Senior Loan Originator

About the role

This role focuses on expanding Ethena Labs' loan portfolio by originating new loans and cultivating relationships with key partners. The Senior Loan Originator will be responsible for identifying and engaging new counterparties, ensuring that loan origination efforts align with the protocol's strategic objectives and contribute to the growth of the overall loan book. This involves acting as a primary contact for secured lending relationships and advising capital allocators.

A core part of the work involves developing innovative secured loan structures tailored to Ethena's partners, which include exchanges, custodians, brokerages, and trading firms. The goal is to create unique product outcomes that fit the protocol's risk profile. The role also requires advocating within the trading team for increasing the allocation of secured lending within the backing assets of USDe.

Success in this position means consistently meeting strategic goals for loan book growth and effectively managing a diverse set of institutional counterparties. The ideal candidate will demonstrate a deep understanding of digital asset secured lending, strong analytical capabilities to assess collateral and portfolio risks, and the ability to negotiate and close complex deals efficiently.

The annual salary for this role is between $98,000 and $115,000 USD.

Skills that matter here

• credit risk: This role requires experience in assessing the likelihood of borrowers defaulting on their obligations.
• counterparty risk: The ability to evaluate the risk posed by the other party in a financial transaction is essential for this position.
• financial markets risk analysis: Understanding and analyzing various risks within financial markets is necessary for this role.
• secured lending background: Direct experience in issuing or originating loans backed by collateral, particularly within digital assets, is a key requirement.
• negotiate lending agreement terms: This role demands a proven ability to discuss and finalize the conditions and stipulations of loan agreements.
• financial and quantitative analytical skills: The position requires strong abilities to evaluate collateral frameworks and portfolio exposures using data.

Who this role suits

• You have a seasoned background in credit and counterparty risk within financial markets.
• You possess recent experience in secured lending, specifically originating loans with crypto-native firms or in prime brokerage.
• You are adept at negotiating and closing complex deals rapidly with various institutional partners.
• You thrive in an environment that values independent creativity and asynchronous communication within a flat hierarchy.

From the employer

What You’ll Do

• Lead the effort to originate loans with new counterparties, meeting strategic goals to scale the total loan book that positively impacts and complements the needs of the Ethena protocol.
• Serve as the primary owner for Ethena’s secured lending relationships, acting as a trusted advisor to capital allocators and institutional counterparties.
• Champion within the trading team the potential to grow the secured lending allocation of the backing assets of USDe.
• Create new & exciting secured loan structures with Ethena’s many partners, from exchanges, to custodians, to brokerages, to trading firms, that fit the risk profile of the protocol to create unique product outcomes.

What We’re Looking For

• Seasoned experience in credit risk, counterparty risk, or financial markets risk analysis.
• Secured lending background, most recently in digital assets issuing/originating loans with market makers/crypto-native trading firms, prime brokerage, securities financing, or leveraged institutional clients.
• A strong understanding of the secured lending market in the digital asset space at the institutional, CeFi, and DeFi levels.
• Proven ability to negotiate lending agreement terms and close complex deals in rapid succession with diverse counterparties.
• Strong financial and quantitative analytical skills to evaluate collateral frameworks and portfolio exposures to communicate credit views, and progress updates clearly to risk teams, investment teams, and high-net-worth stakeholders.
• Comfort working in a high-trust, flat hierarchy that values asynchronous communication and independent creativity.