Quantitative Risk Modeling Analyst

Details

At Coinbase, our mission is to increase economic freedom in the world. The Financial Risk Quant team builds quantitative models to assess and mitigate risks associated with risk-bearing products and to measure and monitor portfolio exposures across the platform. This role is an entrepreneurial opportunity to design, develop, implement, and maintain financial risk models that form the foundation of Coinbase's risk infrastructure. You will collaborate with senior quant researchers, risk managers, product and engineering teams, and other cross-functional partners.

Responsibilities

• Develop, implement, and maintain Potential Future Exposure (PFE) models across all risk-bearing products
• Design and calibrate margin models for exchange-traded and prime brokerage products
• Enhance and support the Value-at-Risk (VaR) model to monitor and manage market risk
• Develop, implement, and maintain liquidity models
• Write production-level code for model implementation
• Conduct quantitative risk analyses to support risk-informed decision making, including limit setting, slippage analysis, and liquidation risk waterfall design
• Build and deploy quantitative tools within the firm’s risk platform
• Contribute to the development and implementation of liquidity and operational risk models as needed

Requirements

• PhD or Master's degree in a highly quantitative field (e.g., Physics, Mathematics, Statistics, Financial Engineering)
• 2+ years of experience in quantitative risk model development or quantitative research within an investment bank, asset management firm, exchange, or fintech
• Familiarity with financial products and associated risk factors: asset-backed lending, margin trading, prime brokerage services, exchange-traded products
• Strong knowledge of statistical and machine learning methodologies used in finance: time series models, Bayesian models, Gaussian copula, multi-factor models, logistic/linear regression, probit models, random forest, gradient boosting, etc.
• Good understanding of Monte Carlo simulation and Brownian motion in a financial context
• Familiarity with credit risk and market risk metrics and their modeling: Potential Future Exposure (PFE), Probability of Default (PD), Loss Given Default (LGD), Option Greeks, etc.
• Proficiency in Python and SQL for model development and production implementation
• Strong technical writing skills for model documentation
• Ability to communicate technical findings clearly to non-technical audiences and take ownership while collaborating with others

Nice to haves

• Experience with derivatives (swaps, options, futures)
• Understanding of fundamentals of crypto assets and their protocols
• Knowledge of liquidity risk models

Work model

This role is remote-first but not remote-only; in-person participation (team and company offsites) is required throughout the year. Attendance at periodic in-person events is expected and supported.

Compensation & Additional Info

• Pay Range: $152,405 — $179,300 USD (target bonus + target equity + benefits may also be included)
• Job #: P70388

Benefits

• Medical, dental, and vision plans
• Health Savings Account with company contributions
• Disability and life insurance
• 401(k) plan with company match
• Wellness stipend, mobile/internet reimbursement, connections stipend
• Volunteer time off, fertility counseling and benefits
• Generous time off/leave policy
• Option to receive pay in digital currency

Equal Opportunity & Privacy

Coinbase is an equal opportunity employer and provides reasonable accommodations for applicants with disabilities. Candidate data processing is subject to applicable privacy laws (GDPR/CCPA where relevant).