Sr Investigator

Cboe Global Markets • Chicago, IL

2d • $98,175 - $127,050 • Onsite

About The Position

The Cboe Regulatory Division (the “Division”) is actively seeking a highly motivated, and experienced professional to join our Futures SEF Regulatory team. The Senior Investigator will conduct both pattern-based surveillance reviews and investigations to assist in determinations of potential rule violations of Cboe Futures Exchange (“CFE”) and Cboe SEF (collectively, the “Exchanges”) Rules, along with other applicable rules and regulations governing Exchange Members and Market Participants.

An individual in this role applies advanced functional and regulatory knowledge to solve non-routine investigative problems, independently leads specialized workstreams from inception to conclusion, and produces analysis and recommendations that others rely upon. The Sr. Investigator will be a recognized resource on the team; someone who brings both the technical expertise to handle complex analysis of surveillance alerts and investigations and the professional acumen to mentor less experienced colleagues and represent the Division in multi-stakeholder settings.

Requirements

• Bachelor’s degree or equivalent required; degree(s) in Finance, Law, Accounting, Economics, Business, or a related field preferred.
• Minimum 3-5 years of experience in the derivatives industry, regulatory environment, compliance, or a related legal/investigative field
• Demonstrated experience conducting surveillance analysis or managing investigations, with the ability to work independently on complex, non-routine matters.
• Experience working with or at a Self-Regulatory Organization (“SRO”), the CFTC, NFA, the SEC, FINRA, or a similar regulatory body is strongly preferred.
• Strong working knowledge of U.S. derivatives markets, market structure, and trading operations, including an understanding of the Exchanges’ rules and applicable CFTC rules and regulations.
• Proficiency in analyzing large volumes of trading data to identify patterns, anomalies, and potential violations; experience with data querying tools or trading surveillance platforms is a plus.
• Exceptional written communication skills, including the ability to draft clear, well-organized investigative reports with minimal supervision.
• Strong verbal communication skills; ability to present case findings credibly to management, the Enforcement team, and external parties including the CFTC and other SROs.
• High level of analytical ability and sound judgment in evaluating evidence, applying regulatory precedent, and recommending appropriate dispositions.
• Strong organizational skills and attention to detail, with the ability to manage surveillances reviews and multiple active investigations simultaneously under defined timelines.
• Self‑driven and dependable, able to work effectively and independently with all levels of management and staff; motivated by mission‑critical work that improves market integrity.
• Proficiency in MS Office Suite, including Excel; ability to use data analysis tools relevant to trading surveillance is a plus.
• Preferred data stack exposure: SIGMA, Snowflake, and Big Data SQL environments for large‑scale investigative analysis.
• Extra Credit: Experience with relational databases SQL, Python, VBA, or Access for workflow automation.
• Extra Credit: Experience with SMARTS Trade System Surveillance software.

Nice To Haves

• Experience working with or at a Self-Regulatory Organization (“SRO”), the CFTC, NFA, the SEC, FINRA, or a similar regulatory body is strongly preferred.
• Proficiency in analyzing large volumes of trading data to identify patterns, anomalies, and potential violations; experience with data querying tools or trading surveillance platforms is a plus.
• Preferred data stack exposure: SIGMA, Snowflake, and Big Data SQL environments for large‑scale investigative analysis.
• Extra Credit: Experience with relational databases SQL, Python, VBA, or Access for workflow automation.
• Extra Credit: Experience with SMARTS Trade System Surveillance software.

Responsibilities

• Conduct surveillance and analysis of order entry and trading activity on the Exchanges to detect potential violations of CFE and SEF rules and policies, utilizing surveillances systems along with SQL or advanced Excel (Power Query, pivot tables, complex formulas).
• Contribute to new surveillance processes and operational methodologies, including data pipelines, query logic, and tuning of alert thresholds to address evolving regulatory concerns.
• Conduct rule‑based investigations and to ensure compliance with Exchanges rules; prepare structured memos that clearly lay out evidence, rationale, and conclusions.
• Manage investigations independently from inception to conclusion, meeting expected guidelines and quality standards throughout all stages, including evidence collection, analysis, and case resolution.
• Prepare investigative reports detailing findings in a clear, cohesive, and well-supported manner. Utilize Division guidelines for style and form, and present complete work product requiring minimal revisions.
• Serve as a mentor and subject matter resource for junior staff; assist management in training and developing less experienced investigators, including reviewing work product, sharing investigative techniques, and providing guidance on regulatory interpretations.
• Collaborate cross-functionally with other relevant teams to enhance surveillances and investigative processes; create solutions that improve team effectiveness and efficiency; and support a cohesive Regulatory Program.
• Present case information to management and Enforcement teams, by articulating investigative findings, evidentiary support, and recommended outcomes clearly and persuasively.
• Actively participate in team projects, discussions, and problem solving, including contributing to the development of new investigative processes and methodologies that address emerging regulatory concerns.
• Participate in training and continuing education opportunities, industry developments, and team meetings to maintain a current and comprehensive understanding of the equities regulatory environment.
• Investigate alerts end‑to‑end: triage, validate, enrich with contextual data, reconstruct timelines, and document detailed findings suitable for review and potential escalation
• Analyze and compile data into meaningful summaries and investigative narratives; maintain organized case files, update working datasets promptly, and make findings accessible to the team.

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

What This Job Offers

• Job Type: Full-time
• Career Level: Senior