At Underdog, we make sports more fun.

Our thesis is simple: build the best product for sports fans and we will win the space. Founded in 2020, we're one of the fastest-growing sports companies ever, and there’s still so much left to do. We've built and scaled products across fantasy sports, sports betting, and prediction markets, all united in one app that’s seamless, intuitive, and actually fun to use.

Underdog isn’t for everyone. One of our core values is give a sh*t. The people who win here are the ones who care, push, and perform. We’re remote-first by design, but highly collaborative with regular in-person gatherings that help teams build, iterate, and move fast together.

Got that dog in you? Join us.

After all, winning as an Underdog is more fun.

What you'll do:

This role sits at the intersection of a high-growth sports company and regulated financial markets, with direct responsibility for treasury operations within a registered Futures Commission Merchant (FCM). You'll manage real capital movement, liquidity and regulatory safeguards in an environment where accuracy, judgment and urgency matter every day.

Working closely with cross functional teams, you'll run the daily customer protection computations and cash management that underpin our regulatory standing, while contributing to how treasury strategy, governance and banking relationships develop as the business scales. It suits someone comfortable being both operator and builder, who does their best work where the process is still taking shape.

Customer protection and regulatory operations:

Prepare and own the daily customer fund segregation and secured amount calculations under CFTC regulations, and strengthen the controls supporting them
Monitor monthly settlement bank concentration limits and counterparty credit condition — ratings, outlook, capital and liquidity indicators — across all depositories holding customer funds
Support regulatory reporting, audits and examinations covering treasury and cash management
Work with Accounting, Compliance and Operations to keep treasury processes accurate, timely and compliant

Cash movement and liquidity:

Manage daily cash positioning against customer withdrawals, exchange margin requirements and regulatory minimums
Initiate, review and release wire transfers under strict internal controls and approval workflows
Support exchange and clearinghouse margin funding, including initial and variation margin
Monitor liquidity, maintain accurate records of cash, collateral and bank balances, and build forecasting in partnership with Finance

Banking relationships and capital efficiency:

Build and maintain banking and payment provider relationships that meet corporate and product team needs
Take a lead role in negotiating banking, payment provider and credit facility terms, partnering closely with the Product team and Finance leadership
Help develop our approach to excess cash and yield within regulatory and policy constraints

Governance and development of the function:

Contribute to the development of treasury policy, controls and authorization frameworks as the function matures
Evaluate treasury technology needs and identify opportunities to improve systems, controls and automation
Partner with Product and Engineering, where liquidity planning ties directly to product mechanics, and with Accounting on treasury reporting and reconciliation

Who you are:

You have significant treasury, cash management or regulatory operations experience in a regulated financial institution — FCM, broker-dealer, clearing firm or bank — including operating a treasury function, not only supporting one
You have genuine prior exposure to FCM, DCM and DCO operations and to the market-maker side of a business
You are familiar with customer protection or reserve-style calculations; CFTC segregation or SEC Rule 15c3-3 experience is highly transferable
You have a strong command of cash management, wire controls and bank reconciliation
You have negotiated banking and credit facility terms, and are comfortable leading commercial discussions alongside senior stakeholders
You possess exceptional attention to detail; you understand that an error in a calculation or a wire transfer has significant financial and regulatory consequences
You are comfortable in a high-pressure, daily-deadline-driven environment where process and precedent are still developing
You are independent and understand the importance of segregation of duties, reporting directly into the finance vertical and remaining separate from the trading desk
You partner well across Accounting, Finance, Compliance, Product and Engineering, and with people at all levels
You have a general understanding of the sports betting, fantasy sports and prediction markets industry
You hold a Bachelor's degree in Finance, Accounting, or a related field

Bonus points if you have:

Direct experience preparing daily segregation or secured amount computations
Experience performing bank counterparty credit analysis or maintaining depository concentration limits
Familiarity with CFTC Regulations §1.20–1.32
Experience with regulatory reporting portals (e.g., NFA WinJammer or FINRA FOCUS systems)
CTP (Certified Treasury Professional) designation
Experience evaluating or implementing treasury management systems
Experience contributing to treasury policy and governance in a public-company environment
Background in a high-growth or lean finance team

Our target starting base salary range for this position is between $128,000 and $160,000, plus target equity. Final compensation will be determined based on a variety of factors including relevant experience, skills and expertise, interview performance, and other market considerations.

What we can offer you:

Unlimited PTO for full-time employees (we're extremely flexible with the exception of the first few weeks before and into the NFL season)
16 weeks of fully paid parental leave
Home office stipend
A virtual-first culture, but we come together a few times per year in person for offsites, trainings, hackathons, and more
Slack reactions for every occasion
401k with up to 5% employer match
Company paid health, dental, vision plan options for employees and dependents, FSA, and more
Opportunity to celebrate your favorite sports teams through local meetups and company-sponsored events
Claude and ChatGPT enterprise accounts

#LI-REMOTE