Manager, Derivatives Accounting

Summary

Join Gemini, a global crypto and Web3 platform, as a Manager, Derivatives Accounting. This role is crucial for the company's continued growth and involves overseeing the end-to-end accounting for all derivative instruments. You will lead month-end valuations, prepare financial statements, and design internal control frameworks. The position requires close collaboration with various teams, including trading, risk, finance, and legal. This role necessitates in-person presence twice a week in either Seattle, WA, New York City, NY, or Miami, FL. Gemini offers a competitive compensation and benefits package, including a discretionary annual bonus, long-term incentives, comprehensive health plans, 401K matching, paid parental leave, and flexible time off.

Requirements

• An undergraduate or graduate degree in accounting, finance or related field
• 5+ years of experience in financial reporting and accounting for derivatives, ideally at a global bank, exchange, hedge fund, financial institution, or crypto trading platform
• Strong knowledge of U.S. GAAP, particularly ASC 815 (Derivatives and Hedging) and ASC 820 (Fair Value)
• CPA (or equivalent license) and/or CFA
• Passion for the crypto industry with a strong interest in derivatives and accounting
• Experience with OTC derivative products, including options
• Willingness and commitment to learn and go deep
• Experience managing numerous competing deliverables
• Ability to learn quickly in a fast-paced and changing financial environment with the demonstrated capacity for excellent judgment and communication skills
• Outstanding interpersonal skills and relationship building abilities
• Objectives-driven and able to work with ambiguity and align with team members globally with the flexibility to connect at what could be off-hours locally
• Hard-working, disciplined, detail-oriented, and able to motivate teams

Responsibilities

• Serve as the go-to expert on derivative accounting within Gemini, ensuring proper scoping and application of derivatives accounting standards across the organization
• Recruit, retain, and develop a world-class team
• Liaise closely with trading, risk, finance, and legal teams to ensure clear grasp of activities and appropriate recognition
• Oversee the end-to-end accounting for all derivative instruments including options, futures, perpetual swaps, and other OTC contracts and assist in establishing scalable accounting infrastructure for these products in a fast-evolving environment
• Lead month-end valuation of derivative instruments using appropriate pricing models and market inputs, working with internal trading, risk and technical accounting teams to validate the valuation models and inputs
• Prepare and review journal entries, reconciliations, and disclosures related to derivatives
• Assist with preparation of financial statements, footnotes, and management reporting packages related to derivatives and the OTC business
• Design and maintain robust internal controls frameworks around derivative recognition, measurement, and disclosures in line with SOX requirements
• Partner with treasury, trading, risk and FP&A to understand new derivative instruments and their accounting implications
• Coordinate with external auditors and provide supporting documentation during audits
• Identify and implement process improvements to enhance the efficiency and accuracy of derivative accounting and reporting
• Collaborate with internal and external technology and operations teams to automate reporting and valuation tools
• Support regulatory reporting as needed, including any derivative-related disclosures to regulators or other relevant bodies
• Collaborate with group accounting on the preparation and review of technical accounting memos and whitepapers for significant transactions

Preferred Qualifications

• Experience with crypto derivatives (e.g., perpetual futures, exotic options, OTC contracts)
• Experience implementing or enhancing derivatives subledgers or automation tools
• Experience interacting with external auditors on matters related to OTC derivatives
• Exposure to regulatory reporting requirements related to derivatives (e.g., CFTC, NYDFS, IFRS)
• Proficiency in digital asset accounting platforms (e.g., Cryptio, Haruko, Lukka, etc.)
• Strong technical accounting research and memo-writing skills

Benefits

• Competitive starting salary
• A discretionary annual bonus
• Long-term incentive in the form of a new hire equity grant
• Comprehensive health plans
• 401K with company matching
• Paid Parental Leave
• Flexible time off