Head of Treasury Markets

Job description

**About the Role** We are seeking a senior Treasury Markets leader to build and lead OpenAI's investment management, FX, interest rate risk management, and debt markets capabilities. This role will own corporate liquidity investment strategy, global currency risk, rate exposure, and the design of market-risk programs across rates, FX, liquidity, counterparty, and other Treasury exposures. The ideal candidate combines CFA-level investment discipline, hands-on derivatives and capital markets execution, strong tax and accounting fluency, and exceptional executive communication. They should be able to translate complex market, hedge, liquidity, capital structure, credit market, rating agency, tax, accounting, risk, and governance topics into crisp executive-ready recommendations, decision memos, and Board-level materials. **In this role, your responsibility will include:** ### **Investment Management** - Own investment strategy for corporate cash and liquidity portfolios, balancing capital preservation, liquidity, yield, diversification, counterparty risk, accounting, tax, and regulatory considerations. - Lead portfolio construction, investment policy governance, risk monitoring, performance reporting, manager/counterparty oversight, and compliance for corporate investment portfolios. - Maintain market intelligence on rates, credit, liquidity markets, fixed income products, external manager performance, and emerging portfolio risks. ### **FX & Cash Flow Hedging** - Design and operate FX balance sheet and cash flow hedging programs that align exposure management, hedge objectives, accounting treatment, tax considerations, controls, and business needs. - Manage FX and derivatives activity across global operations, including exposure analytics, hedge strategy, trade execution, counterparty management, effectiveness tracking, and reporting. - Partner deeply with Accounting, Tax, FP&A, Legal, and business leaders to improve exposure visibility and ensure hedge programs are operationally controlled and financially sound. ### **Interest Rate, Debt Markets & Market Risk Management** - Build interest rate risk management capabilities for corporate liquidity, financing, infrastructure, and other business exposures where rate movements can create material financial volatility. - Assess enterprise and other material market risks exposures where can create financial volatility, partnering with business owners to size risk, evaluate alternatives, and recommend Treasury's role when support is needed. - Develop risk frameworks, dashboards, scenario analysis, and decision support for interest rate exposure, capital structure alternatives, balance sheet implications, hedging, commodities exposure, and operating decisions that require Treasury input. - Evaluate capital structure alternatives and instruments across the balance sheet and credit stack, rating agency implications, risk and governance requirements, process discipline, and related fixed income or derivative instruments where relevant to rate-risk and market-risk management. ### **Cross-Company Financial Analysis** - Support priority cross-company initiatives with rigorous financial analysis, clear recommendations, and disciplined execution support. - Support other areas in Treasury as needed, especially Treasury Operations, Trade Finance, and Insurance, bringing analytical rigor and execution support without making those areas the core mandate. - Build business-case models for funding needs, liquidity impact, risk-adjusted returns, sensitivity analysis, and decision tradeoffs. - Translate complex investment, FX, rates, liquidity, tax, accounting, capital structure, credit market, rating agency, risk, governance, and capital allocation topics into concise recommendations for senior leadership and Board-level audiences. ### **AI-Driven Treasury Leadership** - Build AI-enabled workflows that improve speed, visibility, control, and auditability across investments, FX, interest rate risk management, capital structure analysis, and related financial analysis. - Use approved AI tools, within established security, confidentiality, and governance controls, to improve recurring Treasury analysis, risk identification, and executive decision support. - Partner with Finance, Engineering, Data, and Product teams to develop scalable, AI-native treasury infrastructure with appropriate review, documentation, and governance. **You might thrive in this role if you have:** - 12+ years of relevant experience across investment management, corporate treasury, capital markets, banking, asset management, interest rate risk management, complex capital structures, credit markets, or related finance roles. - Deep investment management expertise, including corporate liquidity portfolios, fixed income strategies, portfolio construction, duration, credit risk, liquidity products, external managers, and investment policy governance. - Strong FX, interest rate risk, and derivatives expertise, including exposure analytics, hedge strategy, execution, accounting considerations, tax considerations, controls, and performance reporting. - Experience designing or operating FX balance sheet and cash flow hedging programs, plus broader risk management programs in close partnership with Accounting, Tax, Legal, FP&A, and business teams. - Working knowledge of corporate financing instruments and related risk management considerations. - Exceptional executive communication skills, including the ability to frame ambiguous market-risk, capital structure, credit market, rating agency, tax, accounting, governance, and liquidity decisions for senior leadership and Board-level audiences with clear options, tradeoffs, and recommendations. - Strong modeling skills across portfolio analytics, debt capacity, business-case economics, liquidity impact, risk exposure, sensitivity analysis, and financing scenarios. - Proven ability to operate in a complex, global, high-growth environment with significant cross-functional dependencies. - Demonstrated judgment in market risk, interest rate risk, commodities exposure, counterparty risk, liquidity risk, operational risk, accounting risk, tax risk, and governance. **About OpenAI** OpenAI is an AI research and deployment company dedicated to ensuring that general-purpose artificial intelligence benefits all of humanity. We push the boundaries of the capabilities of AI systems and seek to safely deploy them to the world through our products. AI is an extremely powerful tool that must be created with safety and human needs at its core, and to achieve our mission, we must encompass and value the many different perspectives, voices, and experiences that form the full spectrum of humanity. We are an equal opportunity employer, and we do not discriminate on the basis of race, religion, color, national origin, sex, sexual orientation, age, veteran status, disability, genetic information, or other applicable legally protected characteristic. For additional information, please see [OpenAI’s Affirmative Action and Equal Employment Opportunity Policy Statement](https://cdn.openai.com/policies/eeo-policy-statement.pdf). Background checks for applicants will be administered in accordance with applicable law, and qualified applicants with arrest or conviction records will be considered for employment consistent with those laws, including the San Francisco Fair Chance Ordinance, the Los Angeles County Fair Chance Ordinance for Employers, and the California Fair Chance Act, for US-based candidates. For unincorporated Los Angeles County workers: we reasonably believe that criminal history may have a direct, adverse and negative relationship with the following job duties, potentially resulting in the withdrawal of a conditional offer of employment: protect computer hardware entrusted to you from theft, loss or damage; return all computer hardware in your possession (including the data contained therein) upon termination of employment or end of assignment; and maintain the confidentiality of proprietary, confidential, and non-public information. In addition, job duties require access to secure and protected information technology systems and related data security obligations. To notify OpenAI that you believe this job posting is non-compliant, please submit a report through [this form](https://form.asana.com/?d=57018692298241&k=5MqR40fZd7jlxVUh5J-UeA). No response will be provided to inquiries unrelated to job posting compliance. We are committed to providing reasonable accommodations to applicants with disabilities, and requests can be made via this [link](https://form.asana.com/?k=bQ7w9h3iexRlicUdWRiwvg&d=57018692298241). [OpenAI Global Applicant Privacy Policy](https://cdn.openai.com/policies/global-employee-and-contractor-privacy-policy.pdf) At OpenAI, we believe artificial intelligence has the potential to help people solve immense global challenges, and we want the upside of AI to be widely shared. Join us in shaping the future of technology.