Job Description:
Role Overview
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
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 $-$ 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.
