Clearing Risk Analyst

As a Clearing Risk Analyst at Coinbase, you join the Clearing Risk team to help build Coinbase's clearing business, including prediction markets. Your team is responsible for how the clearinghouse identifies, measures, and manages risk across clearing-member positions, margin methodologies, and settlement processes. You'll own defined risk analysis projects from investigation through recommendation, working closely with the DCO risk lead and partnering with Product, Operations, and Finance to turn analysis into practical risk decisions that shape a growing business.

What you'll do

• Analyze clearing-member positions, collateral, settlement obligations, and concentrations, investigating meaningful changes and exceptions and recommending follow-up actions.
• Contribute to margin methodology development and review by analyzing collateral coverage, stress scenarios, and backtesting results, and pressure-testing the assumptions behind them.
• Assess risks arising from new products, business changes, and market events by identifying potential failure scenarios and developing recommendations for the DCO risk lead.
• Build and refine risk reporting and recurring monitoring by validating figures against source records, defining clear metrics, distinguishing missing or stale data from genuine absence of exposure, and simplifying workflows to improve efficiency.
• Partner with Product, Operations, Finance, Legal, and Compliance to evaluate how funding, settlement, and processing failures create financial risk across the trade lifecycle, and help draft and maintain related risk procedures and control documentation.
• Prepare concise risk analyses, incident reviews, and management materials that clearly separate confirmed facts, assumptions, open questions, and recommendations.

What you bring

• 1 to 3 years of experience in market risk, counterparty risk, derivatives clearing, or trading operations at a major financial institution, exchange, or clearinghouse.
• Working knowledge of derivatives products and margin models, including how trades create positions, funding needs, and settlement obligations, and how initial and variation margin protect against counterparty exposure.
• Familiarity with clearing risk concepts such as stress and backtesting, collateral management, or settlement exception analysis.
• Demonstrated ability to take an open-ended risk question, structure a work plan, source the right data, and deliver a considered recommendation with minimal direction.
• Sound judgment on escalation: you know when an issue requires deeper investigation versus immediate action, and you communicate your limitations clearly.
• Comfortable working with spreadsheets and data: you check calculations, investigate inconsistencies, and clearly communicate conclusions traceable to evidence.
• Ability to utilise generative AI responsibly, maintaining human oversight to validate, deliver business-ready outputs, and drive measurable improvements in workflow efficiency, cost, and quality.

What we offer

• Annual base salary of $95,030-$111,800 USD, varying by location
• Equity and bonus eligibility
• Benefits including medical, dental, vision, and 401(k)
• Remote-first work model with quarterly in-person working sessions called "surges"

About Coinbase

Coinbase is building the future of finance with a mission to increase economic freedom. The company operates a remote-first environment and brings teams together quarterly for intensive in-person working sessions.