Director, US Clearing Operations
Cboe
Chicago, Illinois
Full-Time
$187,000
OfficeDirector
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 providethe financialinfrastructure that powers the global economy. As a leading provider of market infrastructure and tradable products, Cboe deliverscutting-edgetrading, clearing and investment solutions to market participants around the world.
We’rebuilding meaningful ways to support professional and personal development while strengthening the trustwe’veearned as a global market leader. Our teams are empowered to share ideas, actively pursuethemand 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 toprovideemployeesa safe space to network, shareideasand create opportunities.
To support strong partnership and team connection, this role follows a four day in office work model.
Location Overview
Cboe HQislocated inthe historic Old Post Officedistrict,it’s a landmark that blends classic architecture with modern amenities. The building features expansive spaces withhigh ceilingsand large windows, offering an abundance of natural light and panoramic views of thecityskyline 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,afitness center, and collaborative workspaces, creating a vibrant and dynamic work environment in one of Chicago's most iconic areas.
Role Overview
The Director of US Clearing Operations is a senior leader with direct responsibility for all aspects of operational oversight ofCboe’sUSClearingOperations unit. This role leads a team of clearing operations professionals responsible for providing world-class customer support, production-level oversight ofCboe’sclearing 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 willestablishand 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.
Your responsibilities will be:
Team Leadership & Development: Lead, mentor, and provide guidance to direct reports within theUSClearing Operations team. Cultivate trust and delegation of day-to-day and project work throughout the team. Provide thought leadership and training for Cboe staffregarding clearingoperational 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 andmission. Translate business strategy into functional plans and guide execution. Participate in and represent Cboe within industry forums relevant to Clearing and Treasury Operations.
Incident Management & Escalation: Maintaintechnical incident management records andmonitorthem 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 obligationsimpactingregulated 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.
Clearing Operations Oversight: Ensure all intraday and daily clearing processes are completed successfully — including confirming member statements and core production reports are generated, alerts and exceptions aremonitoredand escalated as necessary, member equity balances are checked, error accounts are reviewed, and applicable reports are saved. Oversee bank reconciliation processes, verifying the recording oftransactionsand reviewing source documents to ensuretimelyposting. 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 nearingexpirationare processedaccuratelyand assets posted correctly to applicable member accounts.
Project Management & Platform Change: Provideproject management support for all updates applicable to the US Clearing Operations area of responsibility. Supervise, draft, review, and promote projects in support of the businessand thatprovide 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 updatesrequiredto 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 andparticipatein internal and industry-wide weekend testing as needed.
Customer Support & Training: Providecustomer support and training related to platform behavior, clearing processing behavior, order processing, and feature/functions ofCboe’sclearing 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.
System Monitoring & Platform Health: 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 areoperatingas expected. Ensure all daily milestoneobjectivesareachievedand all alerts are addressed. SupportCboe’sIncident Management process andtake ordirect action to resolve known issues orescalateas necessary. Provide customers, regulators, and the business with live updates related to systems and trading issues.
Policies, Procedures & Documentation: 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.Identifyprocess improvement opportunities and areas where automation may be implemented to increase operational efficiency and reduce risk.
Compliance & Regulatory Support: Provideoperational support for legal, regulatory, and compliance functions asrequired. 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.
Supervisory Responsibilities
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 whenwarranted.
The ideal candidate has :
Bachelor’s Degree(Master’spreferred): Business, Accounting, Finance/Financial Services, Economics, Computer Science, Information Systems, Technical Writing/Communications, Project Management, or a related discipline.
Certifications and/or Licenses(preferred): PMI CAPM, PMP, or ACP.
7+ years:Securities-related or technical support experience, includingderivativesproducts,futuresclearing, 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 thefuturesor digital asset industry.
Preferred:UNIX / Linux Shell.
Additional requirements include a 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; and experience in prediction market clearing, settlement, and risk management is a plus.
Benefits and Perksof working for Cboe Global Markets
We value the total wellbeing of our people – including health, financial,personaland social wellness. We believe standard benefits like health insurance and fair pay area givenatany organization. Still, you shouldknowwe offer:
Fair and competitive salary and incentive compensation packages with an upside for overachievement
Generous paid time off, including vacation, personal days, sickdaysand 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% matchimmediatelyupon hire
Discounted Employee Stock Purchase Plan
Tax Savings Accounts for health,dependentand transportation
Employee referral bonus program
Volunteer opportunities to help you give back to your communities
Some of our associates’ favorite benefits andperksinclude:
Complimentary lunch,snacksand coffee in any Cboe office
Paid Tuitionassistanceand education opportunities
Generous charitable giving company match
Paid parental leave and fertility benefits
On-site gyms and discounts to other fitness centers
Paid Time Off
More About CboeGlobal Markets
We’rereimagining the future of the workplace by focusing on what matters most, our people. Our journey is an inclusive one.We’reinvesting deeply in leadership programs and career development initiatives that ensure everyone has an equal chance to succeed.
We work with purpose, solving problems with ingenuity, collaboration, and a lot of passion.We’rean engaged and excited team connecting markets across borders and embracing growth in all its forms to achieve incredible outcomes.
Learn more about life at Cboe onour websiteandLinkedIn.
Equal Employment Opportunity
We'reproud to be an equal opportunity employer do not discriminate against any employee or applicant for employment based on any legally protected characteristic, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, orveteran status. We are committed to fostering a workplace where all individuals are valued and respected.
#LI-HL
This position is not eligible for visa sponsorship. Candidates must be legally authorized to work in the United States without the need for employer sponsorship now or in the future.
Salary Ranges (applicable for US locations only)
At Cboe, we are committed to providing a competitive, transparent, and market‑informed total rewards program. The anticipated base salary range for this role is $187,000-$242,000, with actual compensation determined by job‑related factors such as skills, relevant experience, education, internal alignment, and location.This role may also be eligible for annual incentive compensation and, where applicable, participation in Cboe's long-term equity programs.
Additional information about Cboe's total rewards program, including benefits and other compensation components, can be found here: Total Rewards at CBOE.
Any communication from Cboe regarding this position will only come from a Cboe recruiter who has a @cboe.com email or via LinkedIn Recruiter. Cboe does not use any other third party communication tools for recruiting purposes.