Get to Know Rod Bolger, Chief Financial Officer, Celsius
Have you met our CFO, Rod Bolger, yet? We asked him a few questions to get to know him better.
What were you working on before you joined the Celsius team?
Prior to joining Celsius earlier this year, I spent more than 10 years at the Royal Bank of Canada, most recently as its Chief Financial Officer. Before that, I was Chief Financial Officer for four different businesses of Bank of America. I also spent several years at Citigroup and PwC.
You took your post as Chief Financial Officer on February 14. What drew you to Celsius?
Having spent my career in traditional finance, I wanted to be part of bringing new technology and the next generation of financial services together in a new marketplace — digital assets. It’s important to me that we reduce barriers for people to enter into financial service markets. As a proven leader in the space with significant backing, liquidity, and an incredibly exciting growth trajectory, I knew Celsius was the right home for me. Here, we are surrounded by many of the brightest minds shaping the industry.
What stands out to you about Celsius?
I was happy to see that Celsius was already focused on the elements I’d expect in a best-in-class financial institution. Even without the same regulatory framework yet enacted, many of those elements were already in place when I joined. The company’s strong liquidity framework, established practices around liquidity data, and modeling were elements that I was happy to find similar to other large financial institutions. This put us in a strong position to weather the recent market turbulence and ensure that clients who needed to access their digital assets could get them free and clear.
On top of that, we had one of the most significant Series B fundraising rounds in the fintech and crypto markets — Celsius has strong backing from institutional investors that provide support both financially and through their operational expertise. This sets us apart and affords us the ability to continue to invest in technology and emerging areas that meet the needs of our customers.
But what truly stands out is customer loyalty, a.k.a. the Celsius Community. Our community truly believes in crypto and in what we’re doing. We have a large user base with over $10 billion in assets on our platform. We take pride, and a lot of care, in being ahead of all others in this space.
Celsius is committed to being the company people can turn to in times of market turmoil. What enables Celsius to maintain strength amidst such extreme volatility?
Our users and our community come first. I work closely with teammates across the company, from Risk, Security, Technology, Operations, Treasury, Compliance, Finance, Regulatory and Legal; they all ensure we are making decisions based on real-time updates.
The recent events surrounding LUNA/UST were a prime example of our team prioritizing our users and the safety of the assets. As we do with any platform or protocol deployment, we carefully evaluate the risks and merits based on market conditions and the information available. As always, our customers are our top priority. Celsius’ Deployment and Risk Management teams are vigilant in reacting appropriately to changing market conditions, and once we recognized shifts in the stability of the Luna ecosystem, we moved quickly to ensure the safety of assets on our platform and to protect our customers.
Celsius identified instability in the Luna/UST peg early, and acted swiftly to protect our customers. We built a world-class risk management team for precisely this reason. Celsius’ Rodney Sunada-Wong, Chief Risk Officer, shares more here.
Our Risk Management team is seasoned and has weathered numerous storms in both TradFi and crypto. The senior members are from major financial institutions and each averages over twenty-five years of experience in their areas of expertise — Market, Credit, Liquidity, and Operational Risk. They worked hand-in-hand with the Deployment and Treasury teams to build risk management tools, make risk management decisions, and agree on limits. This teamwork enables us to handle volatile markets.
What’s ahead for Celsius?
We’re in a strong position to grow as the market recovers. We continue to build new products that meet the needs of our ever-expanding user base.
Providing ease and leading functionality for our customers is at the heart of everything we do. This is what excites me and it’s the reason I made the switch from traditional finance to Celsius.