Head of Underwriting – Credit Fund

Xsolla is seeking a Head of Underwriting for their Credit Fund to design underwriting frameworks, lead deal structuring, and build a credit team. This remote, full-time position offers a salary between $140,000 and $210,000.

Underwriting Framework and Credit Policy

• •Design the fund's underwriting framework from scratch: credit policy, underwriting standards, rating and scoring methodology, credit memo templates, and approval workflows — built for LP diligence from day one.
• •Build the data edge into the process: integrate Xsolla's payments telemetry and game-revenue data into underwriting as a durable information advantage.

Deal Underwriting and Structuring

• •Lead the underwriting of lending facilities to game studios and gaming businesses: financial analysis, revenue durability, downside cases, and recovery analysis.
• •Structure facilities: term loans, revolvers, royalty- and revenue-based structures — including covenants, collateral packages, borrowing bases, and pricing.
• •Draft and negotiate term sheets and credit documentation with borrowers alongside external counsel.

Credit Committee and Governance

• •Stand up and run the credit committee process: present transactions, document decisions, and maintain an audit trail that stands up to LP and auditor scrutiny.
• •Establish portfolio monitoring: watchlist discipline, covenant tracking, and a workout playbook as the portfolio builds.

LP Diligence and Fundraising Support

• •Be the credit face of the fund: appear in fund materials and LP meetings as the fund's credit authority; own underwriting answers in LP due diligence.
• •Support capital formation: help shape the fund's risk-return narrative, portfolio construction guidelines, and track-record presentation.

Credit Playbook and Team Building

• •Codify the credit playbook: standards, templates, and documentation that make the fund's underwriting repeatable and audit-ready.
• •Build the bench: as the fund scales, hire and mentor the junior credit team — analysts, associates, and in time a portfolio/risk officer.

• •We are passionate about fostering a supportive environment for our team, so we prioritize the physical, mental, and emotional well-being of our employees and their families through a comprehensive Benefits Program.
• •This includes 100% company-paid medical, dental, and vision plans, unlimited Flexible Time Off, and a personalized career roadmap for each employee.
• •By investing in professional development through training and educational opportunities, we ensure that our team thrives both personally and professionally.
• •Together, we’re not just building a business; we’re cultivating a community that values creativity, collaboration, and the transformative power of play.

Experience

• •7+ years in private credit, direct lending, specialty finance, or leveraged finance, with personal responsibility for underwriting and closing institutional credit transactions.
• •Experience at an early-stage or first-time credit fund — credit policy written from scratch, LPA input, first LP diligence — is strongly preferred.
• •Lending against media, IP, royalties, recurring digital revenue, or gaming businesses is a strong plus.
• •A track record you can walk LPs through: deals underwritten, structures used, and how they performed — including the ones that went wrong and what you did about it.

Skills and Competencies

• •Deep fluency in credit analysis, financial modeling, covenant design, collateral structures, and credit documentation.
• •The gravitas to sit across from LPs, investment committees, and founders — and the judgment to say no to a deal.
• •Enjoys mentoring junior team members and building a strong credit culture as the team grows.
• •Comfort operating in a lean, fast-moving team where you build the machine you then operate.

Education and Credentials

• •A bachelor's degree in finance, economics, business, or a related field; an MBA and/or a CFA charter is preferred.