Risk Manager

Risk Manager

Cboe Clear U.
S. operates a CFTC-registered Derivatives Clearing Organization offering digital assets futures and is pending registration as an SEC Covered Clearing Agency to clear novel Binary KPI Options. We are looking for a Risk Manager to join our growing Risk Management team. This position will report directly to the Chief Risk Officer.

Required Skills & Experience

Experience Education & Foundation o Bachelor's degree in Finance, Economics, Accounting, Business, Risk Management, or a related quantitative field; advanced degree (MBA, MS in Finance/Risk) or professional certification (FRM, CFA, PRM) preferred o 7+ years of progressive experience in financial services, with direct exposure to derivatives clearing, prime brokerage, futures commission merchant (FCM) operations, or broker-dealer risk management Clearing & Market Structure Knowledge o Demonstrated experience with central counterparty (CCP) clearing operations, ideally at a CFTC-registered Designated Clearing Organization (DCO) or SEC-registered Covered Clearing Agency (CCA) o Working knowledge of futures, options, and/or securities clearing member relationships, including membership standards, financial requirements, and risk-based access criteria o Familiarity with SPAN margin methodology or comparable portfolio margining systems, and experience validating or interpreting margin model outputs o Understanding of customer segregation rules (e.g., CFTC Part 1 and Part 22, SEC Rule 15c3-3) and their impact on Clearing Member risk profiles Financial & Credit Analysis o Experience conducting financial statement analysis, credit risk assessment, and liquidity analysis of regulated financial institutions (FCMs, broker-dealers, banks) o Experience reviewing regulatory financial filings such as FOCUS Reports, Form 1-FR-FCM, Net Capital computations, or equivalent notice filings o Ability to evaluate risk management frameworks and internal controls of counterparties relative to their business activities and risk exposures Quantitative & Technical Skills o Proficiency in Python for developing, maintaining, and validating production-level codebases, particularly around margin calculation, data validation, and file generation/distribution processes o Experience working with large data sets, exposure reporting tools, or risk dashboards to monitor intraday and end-of-day positions o Comfort with SQL or similar tools for data extraction and analysis o Familiarity with statistical or quantitative risk modeling concepts (VaR, stress testing, margin backtesting) is a plus Default Management & Enterprise Risk o Experience participating in or coordinating default management simulations, tabletop exercises, or actual default events at a clearinghouse or similarly systemic financial institution o Experience with enterprise risk management (ERM) frameworks, including risk and control self-assessments (RCSAs), control testing, and risk tolerance/appetite frameworks o Familiarity with COSO ERM framework or equivalent structured risk governance methodology Governance & Regulatory Engagement o Experience preparing memos, risk assessments, or recommendations for presentation to internal risk committees, senior management, and/or Boards of Directors o Direct experience interacting with CFTC and/or SEC examiners, or supporting internal/external audit engagements, particularly around DCO Core Principles or CCA compliance standards (e.g., Regulation SCI, SEC Rule 17Ad-22 / Covered Clearing Agency Standards) o Strong written communication skills, with demonstrated ability to translate technical risk findings into clear recommendations for non-technical stakeholders Additional Competencies o Ability to manage competing priorities across onboarding, ongoing monitoring, and ad hoc regulatory requests in a fast-paced, deadline-driven environment o Sound judgment in escalating risk concerns and recommending protective measures (e.g., enhanced monitoring, additional margin, restricted trading privileges) o High degree of discretion given access to confidential futures commission merchant and/or broker/dealer financial data

Job Description

Responsibilities Clearing Member Onboarding o Oversee the financial and operational reviews of Futures Clearing Member and Broker Dealer Clearing Member applicants. o Ensure applicants' risk management policies and procedures are appropriate for the risks presented by the applicant's various business lines. o Determine post-trade thresholds specific to each Clearing Member by regulatory origin based on the entity's financial condition.o Prepare memos with recommendations based on observations from supporting documentation provided as a part of the application to internal and board-level committees. Ongoing Monitoring o Review