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.
Cboe Clear US (Clearinghouse) is registered with the Commodities Futures Trading Commission (CFTC) as a Derivatives Clearing Organization (DCO)and theSecurities and Exchange Commission as a Covered Clearing Agency, currently supporting margin-eligibledigital asset derivatives andbinary options Cboe Clearinghouse is hiring a Chief Risk Officer to provide strategic leadership and oversight of thefinancialrisk management function for the Clearinghouse. This role carries significant governance responsibility, reporting to the President,Cboe Clearing US, as well as to the Board of Directors and the Risk Management Committee of the Clearinghouse. The Chief Risk Officer will partner closely with second- and third-line functions, clearing members, and market participants to ensure the Clearinghouse's risk frameworkremainsrobust, compliant, and positioned to support future product growth.
Your Responsibilities Will Be:
Provide leadership for the growth and direction of the risk management function for the Clearinghouse while working collaboratively across teams to execute strategic initiatives
Design and enhancemarket, credit, and liquidity risk management frameworks and implementin accordance withregulatory and company requirements
Overseecredit risk management of clearing members, settlement bank, and other counterpartiesincludingonboarding and ongoingcredit due diligence, along with Watch List escalations
Developthequantitative riskmethodologyandrequirement for theClearinghouse margin model, stress testing, and defaultmanagementin developing new products, ensuring risk methodologiesremainsound and robust
Enhancemodel and financial resourcesback-testing, stress testingscenarios, and credit modelling to ensure robustness andregulatory standards are met
Conductdefault management planning and testing in collaboration with clearing members and exchange liquidity providers; ensure the Clearinghousemaintainsadequate resources to managepossible memberdefaults
Lead Credit and Margin Committees and provide regular updates to the Board of Directors, Risk Management Committee, and other governing bodies
Liaison with CFTC, SEC, FINRA, and other regulatorsin their exams process, responding to various inquiries on new rules or methodologies,understandingthe regulatoryexpectationsand buildingframeworks to meet those requirements
Implement and manage the Enterprise Risk Management (ERM) program for the Clearinghouse and ensure operationscomply withinternal policies and applicable regulations
Collaborate with second- and third-line departments - including the Chief Compliance Officer, Chief Information Security Officer, and Internal Audit - to develop and deploy ERM tools, practices, and policies foridentifying, analyzing, and reporting enterprise risks
Partner with sales and product teams to understand the product roadmap and strategic initiatives; develop strategies for the Clearinghouse to offer new products and services supported by robust risk modeling and monitoring systems
Ensure the Clearinghousemaintainsrobust business continuity and disaster recovery processes, and coordinate testing of operational resiliency across business processes
Stay abreast of emerging risks and regulations applicable to the Clearinghouse
The Ideal Candidate Has
10-15 years of experience in trading, clearing, or capital markets risk management, or risk management technology
Hands-on experience with post-trade operational workflows, FCM risk management, CCP risk management, or portfolio risk modeling for a trading business
Experience with regulatory relations andoperatingwithin Legal and Regulatory strategic engagement guidelines, including the ability to self-interpret regulatory rules and guidelines - specifically CFTC DCO core principlesand SEC CCA requirements
Designedand built margin models, stress testing,liquidity,default management, and overall market and credit risk managementat a CCP, FCM, broker-dealer, or similar entity
Experience creating and reviewing risk management policies
Experienceoperatingwithin a well-defined governance framework,including reporting to a Board or Risk Committee
Strong critical thinking skills with an interest in designing risk management governance frameworks across markets, funding, and credit
A hands-on orientation with acute attention to detail; strong SQL, Python, and GitHub skills to effectivelyleverageexisting tools
Prior experience creating or implementing ERM programs, with a strong understanding of risk appetite and tolerances, inherent and residual risks, risk controls, and risk factors such as SDLC, vendor risk management, and business continuity/disaster recovery
Results-driven and organized, with the ability to manage and lead multiple functions simultaneously and a passion for delivering high-quality service
Proven strategic agility with broad knowledge and perspective, able to accuratelyanticipatefuture consequences and trends
Ability to adapt quickly to changes in priorities and situations, work under pressure, and meet deadlines
Excellent written and oral communication skills, including the ability to organize and present ideas clearly to individuals or groups, listen actively, and prepare clear, concise written materials and presentations
Ability to communicate with colleagues, management, clients, and others in a courteous, concise, and professional manner
Havehad a leadership roledirecting other risk managements staffand can mentorto elevate themto higher levels of achievement
Bachelor's degreerequired;Master'sdegree strongly preferred
Familiarity withdigital assets, options, and prediction marketsis 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 on our websiteand LinkedIn
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-CS
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)
Our pay ranges are determined by role, level, and location. The national new hire base pay range for this job in the United States is $259,250-$320,250 per year. This range represents the minimum and maximum base pay target for new hires working in the position full time.
Within the range, individual pay is determined by actual work location and additional factors, including job-related skills, experience, and relevant education or training. In addition to base pay, our total rewards program includes an annual variable pay program and benefits including healthcare (medical, dental and vision), 401 (k) with a generous company match, life and disability insurance, paid time off, market-leading tuition assistance, and much more! Your recruiter will provide more details about the total compensation package, including variable pay and benefits, during the hiring process. For further information on our total rewards program, visit TOTAL REWARDS @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 otherthird party communication tools for recruiting purposes.
Cboe Global Markets (Cboe) is the leading exchange network for global derivatives, foreign exchange, digital asset and securities trading solutions. We’ve been building trusted, inclusive markets for over 50 years, but we’ve only just begun.
We inspire our people to solve complex challenges together because what we do matters: providing the financial infrastructure that helps power the global economy. We create the space for investors of all backgrounds to participate in our markets as well as opportunities for our people to grow while pursuing big ideas. Our solutions help people build a sustainable financial future. And our people are making that future brighter, not only through their work but in the ways they give back to their communities.
