Head of Underwriting Digital Asset Financing

Head of Underwriting Digital Asset Financing

Tether Operations Limited

📍 Munich, Germany

7h $126k - $163k

eexecutive bitcoin blockchain

About the job

We are looking for a Head of Underwriting to drive underwriting activities across Digital Asset Financing. This is a senior, hands-on role requiring strong financial and credit analysis capabilities, sound commercial judgement and a deep understanding of counterparty risk.

You will assess financing opportunities, evaluate institutional counterparties and structure transactions that balance commercial objectives with robust risk management. Working closely with internal stakeholders, you will play a key role in evaluating complex transactions and supporting informed, timely decisions in a dynamic market.

Responsibilities

• Lead the credit assessment of borrowers (funds, miners, trading firms, corporates) from initial due diligence through transaction evaluation and approval recommendations.

• Analyse counterparty financial statements, liquidity, leverage, trading strategy, business models and overall creditworthiness.

• Evaluate digital asset collateral, collateral coverage, market volatility, liquidity and liquidation risks, where applicable.

• Assess operational and custodial setup of counterparties

• Structure terms, recommending appropriate LTV, tenor, covenants and margining.

• Identify and assess counterparty, market, concentration and operational risks associated with proposed transactions.

• Prepare clear, evidence-based underwriting assessments and present recommendations to relevant decision-makers.

• Monitor existing exposures, identify emerging risks and recommend appropriate mitigation measures.

• Collaborate with internal stakeholders to facilitate efficient transaction execution while maintaining disciplined underwriting standards.

• Continuously enhance underwriting methodologies in response to evolving digital asset markets, products and risk dynamics.

Requirements

• 7+ years of relevant experience in underwriting, lending, credit risk, digital asset financing or a comparable field.

• Strong expertise in financial analysis, counterparty assessment, loan structuring (LTV, rates, thresholds) and credit risk evaluation.

• Understanding of collaterals including BTC/ETC, custody and transfers

• Margin mechanics awareness, including margin requirements, collateralisation, loan-to-value ratios, margin thresholds and liquidation processes.

• Counterparty due diligence experience, being able to effectively assess business models, ownership structures, operational capabilities and relevant risk factors.

• Skilled in ongoing risk monitoring, collateral coverage, margin calls, margin breaches and timely escalation of emerging risks.

• Understanding of digital assets, collateralised financing, cryptocurrency markets and associated liquidity and volatility risks.

• Experience evaluating complex transactions and making well-reasoned recommendations based on quantitative and qualitative analysis.

• Strong commercial acumen and the ability to balance business opportunities with prudent risk management.

• Excellent analytical, problem-solving and critical-thinking skills, with exceptional attention to detail.

• Strong communication and stakeholder management skills, including the ability to articulate complex risk considerations to senior decision-makers.

• High levels of integrity, accountability and independent judgement.

• Ability to operate effectively in a fast-paced, international environment, navigating ambiguity and making sound decisions under pressure.

Important information for candidates

Recruitment scams have become increasingly common. To protect yourself, please keep the following in mind when applying for roles:

Apply only through our official channels. We do not use third-party platforms or agencies for recruitment unless clearly stated. All open roles are listed on our official careers page: https://tether.recruitee.com/

Verify the recruiter’s identity. All our recruiters have verified LinkedIn profiles. If you’re unsure, you can confirm their identity by checking their profile or contacting us through our website.

Be cautious of unusual communication methods. We do not conduct interviews over WhatsApp, Telegram, or SMS. All communication is done through official company emails and platforms.

Double-check email addresses. All communication from us will come from emails ending in @tether.to or @tether.io

We will never request payment or financial details. If someone asks for personal financial information or payment at any point during the hiring process, it is a scam. Please report it immediately.

When in doubt, feel free to reach out through our official website.

⬇ Apply Now Join talent pool