Senior Repo & Lending Trader - Digital Assets

Senior Repo & Lending Trader - Digital Assets at Keyrock

Since our beginnings in 2017, we've grown to be a leading change‑maker in the digital asset space, renowned for our partnerships and innovation. Today, we rock with over 220 team members around the world. Our diverse team hails from 42 nationalities, from DeFi natives to PhDs. Predominantly remote, we have hubs in London, Brussels, Singapore and Paris, and host regular online and offline hangouts to keep the crew tight.

Keyrock runs seven business verticals from market‑making, DeFi trading and options to institutional OTC trading, and the firm is looking to expand and establish itself as a full‑service financial institution through both organic innovation and inorganic growth.

We are looking for an entrepreneurial Senior Repo & Lending Trader to drive the execution of Keyrock’s bilateral and on‑chain borrowing activities. You will be responsible for the "plumbing" of our debt operations—structuring fixed and floating rate loans, optimizing collateral efficiency through rigorous scoring, and managing our institutional lending relationships. This is a role for a technical trader who understands that alpha is often found in superior collateral management and rate structuring.

• Bilateral & On‑Chain Lending:
  Execute and manage the end‑to‑end lifecycle of borrowing and lending transactions, including negotiating bilateral term sheets with institutional counter parties and managing liquidity across DeFi money markets (e.g., Aave, Morpho, Euler).
• Rate Structuring (Fixed & Float):
  Manage the firm’s interest rate profile by monitoring the spread between fixed‑term institutional loans and floating‑rate DeFi protocols, identifying when to lock in term funding versus staying floating based on market volatility and STIR trends.
• Collateral Scoring & Haircut Optimization:
  Develop and maintain a proprietary collateral scoring framework to determine appropriate haircuts for various asset classes (Fiat, Stable coins, Blue‑chip Crypto, and RWAs) based on liquidity, volatility, and smart‑contract risk.
• Contractual Execution:
  Work closely with Legal and Risk to navigate ISDA/GMRA‑like frameworks in a digital asset context, discussing rehypothecation rights, delivery‑versus‑payment (DvP), and event‑of‑default triggers.
• Technical Automation:
  Use Python to build tools that monitor real‑time "Health Factors" and LTVs, automate interest rate tracking across fragmented venues, and build dashboards that score counter party risk and collateral quality dynamically.
• Counter party Management:
  Serve as the primary point of contact for institutional lenders and liquidity providers, representing Keyrock’s desk to ensure we are the "borrower of choice" by maintaining transparent and data‑driven reporting on our collateral positions.

• The STIR/Repo Foundation: 4–7 years of experience on a Repo, Securities Lending, or STIR desk with deep understanding of secured financing mechanics, margin calls, substitution of collateral, and term structures.
• Analytical Rigor:
  Proven ability to "score" assets, explaining the quantitative reasoning behind haircuts and collateral decisions.
• Technical Proficiency:
  Strong Python skills essential for scripting monitoring tools and querying on‑chain data.
• Entrepreneurial Drive:
  Passion for the crypto markets and the ability to translate traditional repo concepts into a high‑velocity digital environment.
• Knowledge of DeFi Mechanics:
  • Required:
    
    Understanding of over‑collateralized on‑chain lending workings (utilization curves, liquidation logic).
  • Preferred:
    Familiarity with Real World Assets (RWA) and their use as collateral in the current ecosystem.

We value self‑awareness and powerful communication skills. We seek fiercely passionate people who understand themselves and their career goals, and who act with ownership to deliver solid, scalable outcomes. The perfect fit is a crypto enthusiast who is driven, collaborative, and enthusiastic about entrepreneurial innovation.

• A competitive salary package
• Autonomy in time management thanks to flexible working hours and the opportunity to work remotely
• The freedom to create your own entrepreneurial experience as part of a team that seeks excellence

As an employer we are committed to building a positive and collaborative work environment. We welcome employees of all backgrounds, and hire, reward and promote entirely based on merit and performance.

Due to the nature of our business and external requirements, we perform background checks on all potential employees, passing which is a prerequisite to join Keyrock.