Futures Operations Manager

This is a fully remote position, open to applicants in Illinois, +3 more states.

📋 Description

• Clearing & Settlement: Oversee the daily clearing and settlement of futures transactions, ensuring precise and timely processing via the firm’s clearing partnerships and exchange systems, such as CME Group and its affiliated exchanges.

• Margin & Collateral Management: Supervise margin requirements, handle margin calls, and manage collateral transfers along with daily net settlements in compliance with exchange and regulatory standards. Ensure segregated balance requirements for affiliates and oversee treasury operations.

• Reconciliation/Balancing: Manage trade, position, and cash reconciliations with exchanges and internal systems to detect and rectify discrepancies. Oversee daily balancing of futures activities and positions.

• Regulatory Compliance: Ensure all clearing operations comply with regulations established by the CFTC, NFA, and relevant exchanges (e.g., CME). Prepare regulatory reports and audits as necessary. Assist in compliance with regulatory inquiries and requests pertaining to relevant clearing systems/portals as well as operational procedures, functions, and processes.

• Risk Management: Identify operational risks and establish controls to mitigate potential issues related to risk management, clearing, margining, and settlement.

• Process Improvement: Formulate comprehensive operating procedures and continually assess and enhance clearing workflows to boost efficiency, accuracy, and automation.

• Technology & Systems: Collaborate with IT and vendors to onboard, maintain, and enhance back-office and risk management systems.

• Client & Counterparty Management: Act as the primary point of contact with exchanges, management, vendors, and clients to resolve operational challenges.

• Team Leadership: Lead, manage, and mentor the clearing operations team, providing training and guidance on best practices as well as processes/functions.

• Policies & Procedures: Accountable for developing and updating comprehensive policies and procedures for all facets of futures trading, clearing, and settlement.

⛳️ Requirements

• Education: Bachelor’s degree in Finance, Business, Economics, or a related discipline.

• Experience: 8+ years of experience in futures clearing, trade settlement, or back-office operations at an FCM, exchange, or clearing firm.

• Knowledge:

• - Strong understanding of U.S. futures markets and clearing processes.

• - Familiarity with exchange margining methodologies and risk management principles.

• - Proficiency with clearinghouse systems (e.g., CME Clearing) and futures back-office platforms.

• Skills:

• - Exceptional analytical and problem-solving capabilities.

• - Strong communication and leadership/management skills.

• - Proficient in Microsoft Excel, clearing systems, and risk management tools.

• **Preferred Qualifications:**

• - Experience with regulatory reporting requirements for FCMs.

• - Knowledge of automated clearing and reconciliation solutions.

• - Experience working within NFA and CFTC regulatory frameworks.

• **Required Licenses:**

• - FINRA Series 3 or the ability to obtain it within 3-6 months of hire.

🏝️ Benefits

• Comprehensive Paid Medical Benefits: We prioritize your health with a robust medical benefits plan that covers you and your dependents.

• 401k Employer Contribution: We match your contributions to help you grow your retirement savings.

• Generous Paid Time Off & Paid Holidays: Take the time you need to recharge and pursue your passions with our generous paid time off policy.

• Opportunities for Professional Growth & Development: Invest in your future through hands-on learning, skill-building, and cross-functional work.

• Performance Based Bonuses: Your hard work deserves recognition! Enjoy performance-based bonuses that reward your contributions to our team's success.