Capital Market Associate

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2h ago

Capital Market Associate

New York

Growth /

Remote

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Gauntlet serves $1.5B+ in client TVL, and we're extending that expertise into on-chain borrow and origination — giving institutional borrowers efficient, competitively priced access to capital on-chain. This is a rare opportunity to build a new institutional credit business from the ground up. You'll source the relationships, evaluate them alongside our Credit Risk team, structure and close the terms, and then own and grow that book over time — staying with each relationship rather than handing it off. If shaping something new and owning it end-to-end is the kind of work you're looking for, we'd love to talk.

About Gauntlet

Gauntlet builds the financial systems of the future. While much of on-chain finance is focused on point solutions, we operate across the entire stack to offer best-in-class vault products. Today we serve over $1.5B in client TVL across some of the largest fintechs/neobanks, protocols, exchanges, and capital allocators in crypto — and, increasingly, traditional asset management. Our team brings together traditional finance and crypto-native expertise to deliver durable, sophisticated products for institutional clients moving on-chain.

The role

The Capital Markets team sources institutional borrow demand into Gauntlet's credit markets, structures terms, and operates the resulting book over time. You will originate and manage on-chain borrow products across prime brokerages, trading firms, and asset-backed lending opportunities to build Gauntlet's tokenized borrowing book. You own the full relationship lifecycle: sourcing, credit-risk evaluation alongside our Credit Risk team, structuring and closing term sheets, and ongoing commercial management. You work primarily on Era infrastructure, and on Morpho once its fixed-rate ("Midnight") lending is live. Early on you'll help operationalize our first on-chain borrow product and document the playbook so the model can scale.

What you'll do;

• Originate institutional borrow demand across collateralized lending, trading and hedging strategies, structured credit, and liquidity products — from prime brokerages, trading firms, and asset-backed lending partners.
• Build the borrower pipeline across three segments: (1) unique-market-access counterparties (e.g. RWAs); (2) committed-supply-at-scale borrowers (market makers, OTC desks, trading desks); (3) KYC-gated counterparties (regulated borrowers who cannot legally use open pools).
• Filter early with Credit Risk: work with the internal credit-risk team up front to evaluate and qualify opportunities, so you don't burn cycles on deals that won't clear.
• Structure and close term sheets — negotiate rate, term, size, and collateral; coordinate KYC, gating, and onboarding through to close.
• Own and grow the book — long-term commercial maintenance, renewal, and expansion of every relationship you originate. You keep it; it does not get handed to a separate account manager.
• Operationalize and document the first on-chain borrow products (starting with our current pilot) so the process is repeatable as deal volume grows, and manage inbound interest as we execute more deals.
• Work cross-functionally with Credit Risk, Strategy & Growth, Product, and Engineering on operational integration, and contribute to credit terms guidance (what we offer, minimum rate, maximum term) set with Credit Risk.

What success looks like;

First 30 days. Ramp on Gauntlet's infrastructure (Era, and the Morpho roadmap) and the existing partnerships. Meet stakeholders across Credit Risk, Strategy & Growth, Product, and Engineering and the live counterparties, develop a clear view of the pipeline, and identify the gaps.

First 3–6 months. Operating your own pipeline across the three segments and live on term-sheet negotiations. Concretely: drive a proof of concept on Era infrastructure and secure first logos with innovative partners — e.g. a large prime brokerage expanding into the US, and an SME-lending originator — established as the point of contact for at least one counterparty.

In 1 year. Originated and closed multiple institutional credit relationships adding meaningful book size, measured against TVL-based goals. Owning the book with a consistent maintenance / renewal / expansion cadence, recognized internally and externally as a Gauntlet voice, and contributing reusable playbooks and terms guidance that compress future deal cycles.

What you bring;

• 2–6 years in Investment Banking, Leveraged Finance, or Capital Markets at a leading sell-side institution (e.g. Morgan Stanley, Goldman Sachs, JPMorgan). A candidate with 2 strong, switched-on years counts as much as one with 6.
• Direct experience with financing transactions, debt raises, warehouse facilities, asset-backed financing, structured credit, or other capital-markets products.
• Credit / leveraged-finance grounding: comfort with collateralization, liquidity, leverage, covenants, counterparty risk, and funding costs.
• Exposure to transaction execution: financial analysis, credit assessment, due diligence, term-sheet negotiation, documentation, syndication, and deal closing.
• Experience managing institutional client relationships (corporates, financial institutions, asset managers, market makers, trading firms, funds).
• Exceptional written and verbal communication.
• Ability to own work end-to-end with minimal hand-holding.

Bonus points

• Existing relationships with funds, market makers / OTC desks, exchanges, asset managers, trading firms, and/or institutional borrowers.
• Experience with repo, securities financing, structured lending, warehouse facilities, fund financing, prime brokerage, or other institutional credit products.
• Exposure to private credit, asset-backed finance, specialty finance, or structured products.
• Prior experience with digital assets, stablecoins, or on-chain infrastructure.

Benefits and Perks;

• Remote first - work from anywhere in the US & CAN!
• Regular in-person company retreats and cross-country "office visit" perk
• 100% paid medical, dental and vision premiums for employees
• $1,000 WFH stipend
• Monthly reimbursement for home internet, phone, and cellular data
• Unlimited vacation
• 100% paid parental leave of 12 weeks
• Fertility benefits
• Opportunity for incentive compensation

Please note at this time our hiring is reserved for potential employees who are able to work within the contiguous United States and Canada. Should you need alternative accommodations, please note that in your application.

The national pay range for this role is $140,000 - $175,000 base plus additional On Target Earnings potential by level and equity in the company. Our salary ranges are based on paying competitively for a company of our size and industry, and are one part of many compensation, benefits and other reward opportunities we provide. Individual pay rate decisions are based on a number of factors, including qualifications for the role, experience level, skill set, and balancing internal equity relative to peers at the company.

#LI-Remote

We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses and identifying potential inconsistencies or verification signals in application materials based on available information. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.

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Gauntlet

Compensation: $140k - $175k

Location: New York