Independent Non-Executive Director DCM Public Director / DCO Independent Director

Smarkets•Chicago, IL

2d•Remote

About The Position

Smarkets is seeking two senior independent non-executive directors to serve on the boards of both Smarkets Board of Trade Exchange LLC (a designated contract market) and Smarkets Board of Trade Clearing LLC (a derivatives clearing organisation). Each director will serve as a DCM Public Director of Smarkets Exchange and a DCO Independent Director of Smarkets Clearing. As this is a dual-board appointment, each candidate must satisfy both the DCM Public Director independence standard and the DCO Independent Director material-relationship standard; satisfying only one will not qualify a candidate for the role. The role provides non-executive oversight and constructive challenge, not day-to-day management.

Requirements

At least 10 years’ relevant senior experience (or equivalent seniority, expertise or regulatory experience)
No material relationship with Smarkets Exchange
No material relationship with Smarkets Clearing
Must not currently be, or have been within the past year, an officer or employee of Smarkets Clearing or an affiliate, or a director, officer, or employee of a Participant or Introducing Broker.
Meet applicable fitness, integrity, competence, disciplinary-history, and disqualification standards
Disclose any actual, potential, or perceived conflict
Independent judgment and sound regulatory instincts
Integrity and credibility
Willingness to challenge management constructively
Strong governance discipline and practical understanding of regulated markets
Ability to manage conflicts appropriately
Clear, balanced, public-interest-minded decision-making and communication

Nice To Haves

Experience drawn from regulated exchanges, clearinghouses, trading venues, or financial market infrastructure
Experience in derivatives, event contracts, clearing, settlement, or market operations
Experience in regulatory, compliance, surveillance, enforcement, or legal functions
Experience in financial services governance or board service
Experience in enterprise risk, cybersecurity, technology risk, or operational resilience
Experience in audit, finance, or controls oversight
Experience in public policy, regulation, or public-interest governance
Currently employed by Smarkets, an affiliate, a Participant, or an Introducing Broker (unlikely to suit)
Held within the past year, employed by Smarkets, an affiliate, a Participant, or an Introducing Broker (unlikely to suit)
Hold recent material commercial, financial, or family ties to Smarkets (unlikely to suit)
Have a disciplinary, regulatory, or disqualification issue affecting director fitness (unlikely to suit)

Responsibilities

Contribute to oversight of regulatory compliance, market integrity, risk management, operational resilience, system safeguards, settlement and financial resources, participant access, conflicts of interest, and recovery and wind-down planning — exercising judgment consistent with the public interest, Smarkets Exchange’s self-regulatory responsibilities, and Smarkets Clearing’s safety and regulatory obligations.
Board-level oversight of the exchange’s regulatory programme — surveillance, investigations, disciplinary processes, rule enforcement, regulatory budget and resources, and the performance of the Chief Regulatory Officer.
Serve on the DCM Regulatory Oversight Committee and other committees, supporting impartial decision-making and the fair, consistent application of the Rulebook.
Board-level oversight of the clearinghouse’s risk management framework, settlement, participant eligibility, collateralisation model, default management, financial resources, system safeguards, operational resilience, and recovery and wind-down planning.
Chair Smarkets Clearing’s Disciplinary Panel, Membership Committee and Appeals Committee, managing conflicts, ensuring procedural fairness, and overseeing disciplinary, membership and appeal matters in line with the Rulebook.