Director, Product Margin and Capital Efficiency

🕒 April 14

🏢🏡 Chicago – Hybrid

💵 $187k - $242k / year

⏰ Full Time

🔴 Lead

👔 Director

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Cboe Global Markets

WebsiteLinkedInAll Job Openings

1001 - 5000 employees

Founded 1973

💸 Finance

💳 Fintech

🛍️ eCommerce

Finance • Fintech • eCommerce

Cboe Global Markets is a leading exchange operator that provides a marketplace for trading options, futures, and equities. They facilitate price discovery and risk management for investors and offer a range of innovative services designed to meet the needs of market participants. Cboe's platforms enable trading across various asset classes, making it a critical component of the global financial markets.

📋 Description

• Monitor and manage margin and risk-based haircut requirements for derivatives, securities as well as futures. • As necessary, ascertain, plan, develop, and implement margin requirements and/or risk-based haircut treatment for new products. • Continually consider improvements that would benefit all Cboe product offerings. • Engage and coordinate with Cboe Legal on margin rule filings (as necessary) and interactions with SEC and CFTC staff. • Engage with and coordinate with FINRA on a continuous basis. • Partner with the Cboe Labs, Operations, Global Sales and Derivative teams to evaluate margin and capital efficiency priorities and source client feedback. • Continually collaborate with OCC on changes to the STANS and TIMS methodology to with the goal of maximizing efficiency of customer portfolio margin and risk-based haircuts, in particular by advocating for wider use of portfolio margining with more risk offsets. • Serve as Cboe internal subject matter expert. • Conduct presentations to explain margin and capital requirements and industry conventions including educational sessions for Regulatory staff. • As needed, conduct presentations and public speaking engagements internally and at conferences and other venues. • Represent Cboe on FINRA Rule 4210 Committee and OCC Financial Risk Advisory Council. • Participate in strategic planning and systems implementations to achieve business goals and collaborate with diverse clearing entities to discuss cross-margining opportunities.

🎯 Requirements

• Minimum 12+ years’ industry experience in securities, securities derivatives and futures margin practices, including but not limited to STANS, strategy-based (Reg. T), customer portfolio, and SPAN margining • Minimum 12+ years’ experience in risk-based haircuts and the underlying SEC rule. • Demonstrated experience interacting with the CFTC, SEC and FINRA on margin and risk-based haircut interests. • Demonstrated experience with OCC’s Escrow Deposit program and Clearing Member margin requirements (STANS). • Strong knowledge of financial markets, including (but not limited to) an understanding of financial derivatives, trading, market data, exchanges, and financial technology. • Demonstrated experience with and deep knowledge of Regulation T and self-regulatory organization margin rules, especially FINRA Rule 4210. • Demonstrated experience with and deep knowledge of Options Clearing Corp. TIMS customer portfolio margin and risk-based haircuts design ad operation. • Proven leadership ability with the capacity to set and manage priorities effectively • Proven understanding of exchange/trading systems and central counterparty clearing functions. • Strong understanding of traditional and digital asset market structure. • Advanced knowledge of equities/derivatives/fixed-income order lifecycle and participants involved. • Deep understanding of pre & post trade lifecycle & collateral management for listed and OTC tradeable products. • Excellent written and verbal communication skills, with the ability to engage both technical and nontechnical audiences internally and externally. • Strong skills in Microsoft Office. • Python coding skills would be a plus.

🏖️ 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