Staff Product Manager, Institutional Credit

ABOUT MORPHO

Morpho is a leading Decentralized Finance (DeFi) lending protocol backed by a16z crypto, Paradigm, Ribbit Capital, Apollo, Vaneck, Coinbase Ventures, Variant and 50 others to build an open credit network giving anyone, anywhere, access to the best possible terms. Morpho is experiencing exponential adoption, with over billion in deposits on the network and used by institutional clients including Bitwise, Galaxy, and Anchorage Digital and the largest crypto exchanges, such as Coinbase, Binance, and Kraken. Now, Morpho is scaling its team of contributors to establish itself as the open credit network, not just of DeFi, but of the world.

WHY MORPHO EXISTS

Everyone has the potential to build something great for the world. But fulfilling that ambition almost always requires more: people willing to trust you with their capital. Yet access to capital still depends on where you live, who you know, and which institutions are willing to trust you. Even when capital is available, it sits fragmented across disconnected networks and hidden behind intermediaries. The result is a system that fails most of the people it should serve. Borrowers overpay. Lenders earn less than they should. Many are shut out entirely, not because they are unworthy of credit, but because today's infrastructure was never built to connect them. Morpho exists to solve this. Full article here https://morpho.org/blog/why-morpho-exists/.

LOCATION

New York preferred. Remote is possible between GMT-5 and GMT+2.

ROLE

Banks, asset managers and token issuers are bringing stocks, funds and other real-world assets onchain. Those assets become far more useful once their holders can borrow against them and lend them out. Midnight, Morpho's fixed-rate, fixed-term lending protocol, gives institutions the predictable terms they need to do that.

This role owns the products that make Morpho the credit layer for institutional assets, spanning tokenized equities and funds as collateral, loans backed by assets held with a qualified custodian, and the onchain equivalents of repo and securities lending.

Close partnership with institutions is central to this role. You will develop a detailed understanding of how they operate across trading, custody and compliance, and translate their requirements into products that scale across many partners.

RESPONSIBILITIES

• Own the vision, strategy and roadmap for institutional credit on Morpho, end to end.
• Act as Morpho's domain expert on the institutional market. Go deep with issuers, asset managers, banks, custodians and brokers on how they finance and lend assets, represent Morpho with them, and turn conflicting input into precise problem statements and requirements.
• Decide which issuers and asset types come first, which wait and which Morpho declines, and make the trade-offs explicit.
• Judge which partner-specific requests become standard capabilities many institutions can use, and make the build or partner call for each.
• Work as a peer to the protocol team on design trade-offs, bringing legal and risk in early on custody, transfer restrictions, valuation and liquidation for each asset type.
• Drive each initiative from problem definition through launch and adoption, across teams you do not manage. Define success before launch, measured in active loans.

WHAT SUCCESS LOOKS LIKE

First 30 days

You understand Morpho's lending stack and what Midnight makes possible. You have met protocol, markets, vaults, solutions, business development and legal, and joined live conversations with issuers and asset managers. You have written down where the issuer product stands and what blocks its first launch.

First 3 months

The first issuers are onboarding to a defined product with standard terms. You have a ranked view of the next two institutional loan types, backed by partner evidence, with named partners in conversation for each.

First 6 months

Issuers are live and holders of their assets are borrowing. A second institutional loan type has a working proof of concept with real counterparties. New institutions onboard through a repeatable process, not a custom project.

MUST HAVE EXPERIENCE & SKILLS

• Shipped products for institutional users in capital markets or securities finance: repo, securities lending, prime brokerage, collateral management, custody or tokenized assets.
• A track record of taking a product from zero to one, where you found the opportunity and carried it through launch.
• Working knowledge of how institutions hold, finance and lend assets, and of the regulatory and operational constraints that shape those products.
• Comfortable leading conversations with senior people at banks, asset managers and issuers, and turning them into clear requirements.
• Able to deliver through influence across teams, without a dedicated engineering team.
• Clear writing and speaking for technical and non-technical audiences.
• Creates clarity …