Ornn AI, Inc. Logo

Ornn AI, Inc.

Capital Markets

Reposted 3 Days Ago
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In-Office
New York, NY, USA
Junior
In-Office
New York, NY, USA
Junior
Design and iterate credit structures for pooled non-investment-grade compute offtake; build quantitative models for tranche sizing and stress testing; manage rating agency relationships and prepare offering materials; define waterfall mechanics, SPV documentation, and investor-facing reports; coordinate with founders, legal, indices, and engineering.
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About Ornn
Ornn is building the financial infrastructure for AI compute. Our price indices are live on Bloomberg Terminal. We structure and trade compute hedging instruments. And we're now building a platform that brings exchange-grade mechanics like order management, matching, scheduling, and settlement to how compute capacity gets reserved and allocated. We're a lean team in New York, backed by leading venture and strategic investors.

About the Role
Ornn Fabric bundles compute reservations from non-investment grade tenants into diversified baskets that a neocloud can underwrite as a single, more creditworthy counterparty. This role will control the structuring of those baskets: how the tranching works, how credit enhancement layers in, how the pool performs under stress, and how it all gets presented to rating agencies and institutional buyers.

You will design the credit structures that sit at the core of Fabric's value proposition, working directly with the founders to define how tenant pools are composed, how risk is allocated across tranches, and how the resulting instruments are rated and distributed. You will be the person in the room with credit ratings agencies, walking them through pool composition, default correlation assumptions, and waterfall mechanics.

The role spans origination-side structuring and distribution-side positioning. You will work closely with Ornn's index and derivatives team to connect the structured products to our broader compute pricing infrastructure, and with engineering to ensure the platform can support the data and reporting requirements that rating agencies and investors demand.


What You'll Do
  • Design and iterate on the credit structures that transform diversified pools of non-IG compute tenant offtake into rated, investable instruments.
  • Build and maintain the quantitative models that drive pool composition, tranche sizing, credit enhancement levels, and stress testing across various default and correlation scenarios.
  • Own the rating agency relationship end to end: prepare materials, lead presentations, respond to methodology questions, and manage the ongoing surveillance process.
  • Define the waterfall mechanics, subordination levels, and reserve account structures for each product variant.
  • Work with the founders and legal counsel to structure the SPV and issuer-level documentation, ensuring alignment between the financial engineering and the legal architecture.
  • Develop the investor-facing materials, including offering memoranda, pool performance reports, and credit surveillance updates, that institutional buyers expect.

What We're Looking For
Requirements

  • 2+ years of experience in structured finance, securitization, or credit structuring at an investment bank, rating agency, specialty finance company, or structured credit fund.
  • Direct experience building or analyzing cash flow waterfalls, tranche structures, and credit enhancement mechanisms for pooled asset classes (ABS, CLOs, CMBS, or similar).
  • Demonstrated proficiency working with credit rating agencies on new issuance or surveillance, including preparing rating agency presentations and responding to methodology-driven diligence.
  • Strong quantitative modeling skills.
  • Familiarity with the credit characteristics of non-investment grade corporate obligors, including how to assess creditworthiness for companies with strong revenue growth but limited credit history.
  • Clear written and verbal communication.

Nice-to-Haves

  • Experience rating or analyzing the credit of technology companies, cloud infrastructure providers, or AI/ML companies specifically.
  • Background at a rating agency with direct exposure to new asset class methodology development.
  • Interest in or exposure to securitized debt markets, including ABS, whole business securitization, or esoteric asset classes.
  • Graduate degree from a top finance program (MBA, MFE, or equivalent).
  • Familiarity with GPU compute economics, datacenter infrastructure, or cloud capacity markets.

Why This Role Matters
Ornn is creating a new asset class. The compute economy is scaling faster than the credit markets infrastructure that sits underneath it. Neoclouds need tenant diversity to derisk their revenue base, and institutional credit buyers need structures they can underwrite and rate. This role is the bridge between those two sides: you will define how compute offtake gets packaged into instruments that rating agencies bless and credit funds buy. In the near future, the structures you design will be the basis for Ornn Fabric's first rated issuance, and the methodology you develop with the agencies will set the template for how the market thinks about compute-backed credit.

Compensation and Benefits
Benefits include competitive salary, meaningful equity, health coverage, free meals, and additional benefits. This is a leadership role with significant strategic impact and equity upside.

Equal Opportunity Statement
Ornn is committed to building a diverse team. We evaluate candidates based on their ability to do the work, not on pedigree or background. We encourage applications from people of all backgrounds and experiences.

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