Treasury Analyst, Regulatory Operations

Underdog; United States; Remote; USD 100,000 - 120,000; Full time

Benefits offered by this job

Unlimited PTO

16 weeks fully paid parental leave

Home office stipend

401(k) match

Health, dental, vision plan options

Job summary

Underdog, a rapidly growing sports company, seeks an experienced treasury operations professional to manage real capital movement and liquidity. This role offers direct ownership over treasury operations within a regulated Futures Commission Merchant (FCM), ensuring compliance and financial integrity.

The ideal candidate will have a strong background in cash management, regulatory operations, and experience in a high-paced environment. Attractive benefits include unlimited PTO, 16 weeks of parental leave, and a competitive salary range of $100,000 to $120,000.

Qualifications

• 5–8+ years of experience in treasury, cash management, regulatory operations.
• Direct experience with customer protection or reserve-style calculations.
• Strong understanding of liquidity management and bank reconciliations.

Responsibilities

• Manage daily customer fund segregation and compliance with CFTC regulations.
• Oversee liquidity across multiple accounts for customer withdrawals.
• Monitor liquidity exposures and recommend actions to optimize cash utilization.

Skills

Experience in treasury or cash management

Regulatory operations knowledge

Attention to detail

Liquidity management experience

Education

Bachelor's degree in Finance, Accounting, or Economics

Job description

Our thesis is simple: build the best products and we’ll build the biggest company in the space, because there’s so much more to be built for sports fans. We’re just over five years in, and we’re one of the fastest‑growing sports companies ever, most recently valued at $1.3B. And it’s still the early days.

We’ve built and scaled multiple games and products across fantasy sports, sports betting, and prediction markets, all united in one seamless, simple, easy to use, intuitive and fun app.

This role sits at the intersection of a high‑growth sports company and regulated financial markets, giving you direct ownership over treasury operations within a registered Futures Commission Merchant (FCM). You’ll manage real capital movement, liquidity, and regulatory safeguards in a fast‑moving environment where accuracy, judgment, and urgency matter every day. Your work will directly support product growth while protecting the financial foundation of the business.

What You'll Do

• Own and oversee daily customer fund segregation and secured amount calculations, ensuring compliance with CFTC regulations and internal control requirements
• Manage daily cash positioning and liquidity across multiple accounts to support customer withdrawals, exchange margin requirements, and regulatory minimums
• Review, approve, and release wire transfers in accordance with established controls, approval workflows, and treasury policies
• Lead exchange and clearinghouse margin funding activities, including variation and initial margin movements, while proactively managing funding requirements
• Monitor liquidity exposures, identify potential shortfalls or excesses, and recommend actions to optimize cash utilization and mitigate risk
• Maintain accurate records of cash movements, collateral balances, and treasury activity while ensuring timely reconciliation of bank and custody accounts
• Support and coordinate regulatory reporting, audits, examinations, and information requests related to treasury operations and customer protection requirements
• Partner closely with Accounting, Compliance, Operations, and external banking and clearing partners to ensure accurate, timely, and compliant treasury processes
• Identify opportunities to strengthen controls, improve operational efficiency, and scale treasury processes to support company growth
• Serve as a subject matter expert on treasury operations, customer fund protection requirements, and liquidity management practices

Who You Are

• You have 5–8+ years of experience in treasury, cash management, regulatory operations, or financial operations within a regulated financial institution (FCM, broker‑dealer, clearing firm, bank, or similar environment)
• You have direct experience with customer protection or reserve‑style calculations, including CFTC segregation, secured amount requirements, or SEC Rule 15c3‑3 reserve computations
• You possess a strong understanding of treasury operations, including liquidity management, cash forecasting, wire controls, and bank reconciliations
• You have experience independently owning critical treasury processes and exercising sound judgment in situations involving liquidity, funding, or operational risk
• You demonstrate exceptional attention to detail and understand the importance of accuracy in a highly regulated environment
• You thrive in a fast‑paced, deadline‑driven environment and can effectively manage competing priorities
• You have experience partnering cross‑functionally with Accounting, Compliance, Operations, and external counterparties
• You hold a Bachelor's degree in Finance, Accounting, Economics, or a related field
• You operate with a strong control mindset and understand the importance of segregation of duties

Even Better If You Have

• Direct experience preparing and reviewing daily segregation or secured amount computations within an FCM.
• Experience supporting regulatory examinations, audits, and regulatory reporting requirements.
• Familiarity with CFTC Regulations §1.20–1.32 and customer protection requirements.
• Experience with regulatory reporting platforms such as NFA WinJammer, FINRA FOCUS, or similar systems.
• CTP (Certified Treasury Professional) designation or experience working with exchanges, clearinghouses, margin funding, or collateral management

Our target starting base salary range for this position is between $100,000 and $120,000, plus target equity. The starting base salary will depend on a number of factors including the candidate’s skills and experience, among other things.

What we can offer you:

• Unlimited PTO for full‑time employees (we're extremely flexible with the exception of the first few weeks before & into the NFL season)
• 16 weeks of fully paid parental leave
• Home office stipend
• A connected virtual‑first culture with a highly engaged distributed workforce
• 5% 401(k) match, FSA, company paid health, dental, vision plan options for employees and dependents

Underdog is an equal opportunity employer and doesn't discriminate on the basis of creed, race, sexual orientation, gender, age, disability status, or any other defining characteristic.

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