Credit Analyst

About the Company

Grove Lab’s (a Steakhouse Financial company) mission is to build the open source credit and liquidity rails that let anyone, anywhere move, save, and lend value at internet speed. In collaboration with the Sky Ecosystem, we build transparent, efficient, and accessible financial primitives to power the next generation of capital markets on public blockchains.

We are gathering the best minds in finance, engineering, legal, data, and risk to build the future of finance.

About the Role

We’re looking for a Credit Analyst with structured finance experience as we scale our credit team to meet rapid growth in TVL and deal flow. The Credit Analyst will be focused on transaction underwriting and structuring, market research, and ongoing capital deployment efforts. You will partner with the Head of Credit, growth, and our smart contract engineers to evaluate on and offchain credit opportunities. This is an exciting opportunity for individuals interested in the convergence of traditional and decentralized finance.

What You’ll Do

• Underwrite onchain credit by performing due diligence on project operational, financial, security, and other risk factors while decomposing protocol mechanics (e.g., LTV curves, liquidation waterfalls, etc).
• Build Excel/Python cash flow models for private credit, ABS, and warehouses. Analyze borrower quality, collateral, subordination, and covenant packages.
• Prepare underwriting memos which will be presented internally and with the broader community.
• Perform cross‑surface analysis by reconciling onchain real‑time metrics (block‑level collateral marks, oracle feeds) with offchain reporting (servicer tapes, trustee data) to generate integrated risk views.
• Execute deal structuring by coordinating legal, tax, and technical processes. Draft term sheets covering eligibility criteria, triggers, and waterfalls. Quantify structural protections (OC, reserve accounts, swap hedges).
• Support the development and monitoring of key risk indicators (KRIs) and assist in periodic reviews of existing positions.
• Research and remain abreast of new product offerings, decentralized finance primitives, and market structure.

What we’re looking for

• 3-5 years of experience in structured credit, fixed income, or similar/relevant roles (banking, investment analyst, etc.).
• Proficient knowledge and ability to review and structure transaction documentation, with working knowledge of legal and financial conventions in private and/or structured credit.
• Strong command of cash‑flow modelling, stress‑testing, and covenant analysis.
• Ability to distill complex analysis into clear and informative risk assessments.
• A “collaboration-first” mindset and a desire to work within a team that values collective results.
• A proactive self-starter, who excels in a rigorous, team-oriented work environment; adept at managing competing priorities across multiple projects, transactions, and workstreams.
• Understanding of the decentralized finance ecosystem and knowledge of credit and credit-oriented protocols (Sky, Aave, Morpho, Euler, Maple, Pendle, etc).
• Excellent attention to detail; strong written and verbal communication skills.
• Proficiency in Excel (macros/VBA); Python and SQL a plus.

What we offer

• Competitive compensation including salary, future token rights, and equity.
• True impact at scale - we have partnered with some of the world’s largest financial institutions and most prominent DeFi projects to scale onchain finance.
• Remote work with a highly collaborative team full of diverse expertise, with the opportunity to travel to team events and conferences around the world.
• Regular opportunities for skill development, leadership roles, conference participation, and knowledge sharing in a supportive, fast paced environment.
• Opportunities to be ambitious, grow, and push the frontier of global digital finance.
• An environment where we work hard and have fun doing so!