Director, US Clearing Operations

Cboe Global Markets•Chicago, IL

2d•$187,000 - $242,000•Hybrid

About The Position

Building trusted markets — powered by our people At Cboe Global Markets, we inspire our people to solve complex challenges together because what we do matters. We provide the financial infrastructure that powers the global economy. As a leading provider of market infrastructure and tradable products, Cboe delivers cutting-edge trading, clearing and investment solutions to market participants around the world. We’re building meaningful ways to support professional and personal development while strengthening the trust we’ve earned as a global market leader. Our teams are empowered to share ideas, actively pursue them and bring on a challenge. As champions of internal mobility and access to opportunity, we encourage our people to “go for it” and equip our managers with the training to coach their teams to the next level. We strive to provide employees a safe space to network, share ideas and create opportunities. To support strong partnership and team connection, this role follows a four day in office work model. Cboe HQ is located in the historic Old Post Office district, it’s a landmark that blends classic architecture with modern amenities. The building features expansive spaces with high ceilings and large windows, offering an abundance of natural light and panoramic views of the city skyline and the Chicago River. With its prime location in the heart of downtown, the OPO Building provides easy access to major transportation hubs, including Union Station and multiple CTA lines, making it convenient for commuters. The building is home to a variety of amenities, including restaurants, a fitness center, and collaborative workspaces, creating a vibrant and dynamic work environment in one of Chicago's most iconic areas. The Director of US Clearing Operations is a senior leader with direct responsibility for all aspects of operational oversight of Cboe’s US Clearing Operations unit. This role leads a team of clearing operations professionals responsible for providing world-class customer support, production-level oversight of Cboe’s clearing systems, and end-to-end management of a trade’s post-execution life cycle — including trade break resolution, bank and settlement reconciliations, treasury and liquidity management functions, and all clearinghouse-level reconciliation processes. The Director will establish and maintain solid working relationships with key internal stakeholders in support of incident management, project management, technical writing, and broader operational initiatives — and will act as a senior escalation point for issues across these domains. They will reconcile multiple stakeholder views to drive business results, lead their teams to develop new methods, and solve complex operational and technical matters. The Director of US Clearing Operations will provide thought leadership and strategic direction for the team, and will interact regularly with senior management, executives, regulators, and major customers on matters of significance to the organization.

Requirements

Bachelor’s Degree (Master’s preferred): Business, Accounting, Finance/Financial Services, Economics, Computer Science, Information Systems, Technical Writing/Communications, Project Management, or a related discipline.
7+ years: Securities-related or technical support experience, including derivatives products, futures clearing, post-trade processing, and/or treasury and liquidity management functions.
7+ years: Leadership experience in an operations, financial services, or technical support environment.
5+ years: Futures (or other derivatives) back-office experience at a clearinghouse or clearing firm; prior futures experience is highly desirable.
5+ years: Technical writing, technical project management, and/or technical operations experience.
4+ years: Analytics experience with the ability to parse and analyze large data sets.
3+ years: Treasury management or related experience, preferably in the futures or digital asset industry.
General understanding of trade process workflows, derivatives products, and futures deliveries processes.
General understanding of CFTC regulations with an emphasis on segregation of funds.
Excellent written and verbal communication skills with the ability to write in explanatory and procedural styles for multiple audiences.
Sound judgment and professionalism in decision making and problem solving.
Ability to act calmly and communicate clearly in high-pressure situations.
Strong teamwork and knowledge sharing.
Adaptability to shifting priorities while maintaining attention to critical details.
Candidates must be legally authorized to work in the United States without the need for employer sponsorship now or in the future.

Nice To Haves

Certifications and/or Licenses (preferred): PMI CAPM, PMP, or ACP.
Preferred: UNIX / Linux Shell.
Experience in prediction market clearing, settlement, and risk management is a plus.

Responsibilities

Lead, mentor, and provide guidance to direct reports within the US Clearing Operations team.
Cultivate trust and delegation of day-to-day and project work throughout the team.
Provide thought leadership and training for Cboe staff regarding clearing operational practices.
Actively and intentionally connect direct reports to others within their team, the department, and across the organization — with special attention to the onboarding and development of new hires.
Effectively cascade functional strategy and contribute to the development of organizational policies and mission.
Translate business strategy into functional plans and guide execution.
Participate in and represent Cboe within industry forums relevant to Clearing and Treasury Operations.
Maintain technical incident management records and monitor them through the full incident management lifecycle.
Draft internal incident management-related communications and accurately describe complex and technical clearing issues.
Support and conduct Learning Review meetings and drive root cause analysis as well as impact analysis studies.
Demonstrate knowledge and understanding of compliance obligations impacting regulated clearing platforms and work closely with Compliance staff to ensure incident triage, reporting, and remediation obligations are met.
Act as a senior escalation point for the team during high-severity production events.
Ensure all intraday and daily clearing processes are completed successfully — including confirming member statements and core production reports are generated, alerts and exceptions are monitored and escalated as necessary, member equity balances are checked, error accounts are reviewed, and applicable reports are saved.
Oversee bank reconciliation processes, verifying the recording of transactions and reviewing source documents to ensure timely posting.
Oversee monitoring and forecasting of settlement bank accounts for the Clearinghouse, including daily Fedwire settlements and compliance with CFTC segregation of customer funds regulations.
Ensure delivery tasks related to open positions nearing expiration are processed accurately and assets posted correctly to applicable member accounts.
Provide project management support for all updates applicable to the US Clearing Operations area of responsibility.
Supervise, draft, review, and promote projects in support of the business and that provide operational efficiencies and enhancements.
Liaise with business associates, customers, and software engineers to research and define new features and functions and decompose project work for assignment to Operations staff.
Support implementation of configuration updates required to effect platform change and enable new system functionality.
Test changes to systems and platform functionality prior to deployment and work with the software engineering team to resolve systemic issues.
Lead and participate in internal and industry-wide weekend testing as needed.
Provide customer support and training related to platform behavior, clearing processing behavior, order processing, and feature/functions of Cboe’s clearing systems.
Draft, email, and post customer notices relating to new features/functions, important updates, and system alerts.
Oversee the onboarding of new clients, establishment of client access to the clearing system, provisioning of new services, and API certification testing and support.
Maintain customer technical specifications and post updates to the public website.
Provide oversight of real-time monitoring of active production, disaster recovery, and certification/test environment systems — ensuring Cboe platforms and systems supporting clearing and treasury functions are operating as expected.
Ensure all daily milestone objectives are achieved and all alerts are addressed.
Support Cboe’s Incident Management process and take or direct action to resolve known issues or escalate as necessary.
Provide customers, regulators, and the business with live updates related to systems and trading issues.
Define and enhance the policies and procedures of the US Clearing Operations unit.
Update internal technical and operations procedures within the Clearing Operations team’s Confluence space, as well as formal policies and procedures within SharePoint.
Support publication of public notices, technical specifications, and system status alerts.
Identify process improvement opportunities and areas where automation may be implemented to increase operational efficiency and reduce risk.
Provide operational support for legal, regulatory, and compliance functions as required.
Maintain a general understanding of CFTC regulations with an emphasis on segregation of funds and work closely with Compliance staff to ensure team processes and controls meet all applicable regulatory obligations.
This role carries direct supervisory responsibility for Clearing Operations staff. Supervisory duties include the ability to hire and release staff, conduct performance evaluations, approve PTO, and take disciplinary action when warranted.

Benefits

Fair and competitive salary and incentive compensation packages with an upside for overachievement
Generous paid time off, including vacation, personal days, sick days and annual community service days
Health, dental and vision benefits, including access to telemedicine and mental health services
2:1 401(k) match, up to 8% match immediately upon hire
Discounted Employee Stock Purchase Plan
Tax Savings Accounts for health, dependent and transportation
Employee referral bonus program
Volunteer opportunities to help you give back to your communities
Complimentary lunch, snacks and coffee in any Cboe office
Paid Tuition assistance and education opportunities
Generous charitable giving company match
Paid parental leave and fertility benefits
On-site gyms and discounts to other fitness centers