[Hiring] Head of Underwriting @Xsolla

Role Description

Xsolla is seeking a Head of Underwriting to serve as the fund's senior credit authority alongside the Chief Credit Officer. You will design the underwriting framework from a clean sheet, lead the underwriting and structuring of the fund's first facilities, and stand in front of LPs as living proof that the fund underwrites to institutional standards. This is a builder's mandate.

• Codify how this fund underwrites — the credit playbook, standards, templates, and documentation that make the process repeatable and defensible.
• Mentor junior credit hires as the team grows.
• Reports directly to Stan Rudoi, Chief Credit Officer and Head of the Xsolla Credit Fund.
• Sits on the fund's credit committee.

Responsibilities

• 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.

Qualifications

• 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.

Benefits

• 100% company-paid medical, dental, and vision plans.
• Unlimited Flexible Time Off.
• A personalized career roadmap for each employee.
• Investment in professional development through training and educational opportunities.