Quantitative Risk Manager

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 provide the financial infrastructure that powers the global economy. As a leading provider of market infrastructure and tradable products, Cboe delivers cutting-edge trading, clearing and investment solutions to market participants around the world.      We’re building meaningful ways to support professional and personal development while strengthening the trust we’ve earned as a global market leader. Our teams are empowered to share ideas, actively pursue them and 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 to provide employees a safe space to network, share ideas and create opportunities.      To support strong partnership and team connection, this role follows a four day in office work model.    Location Overview   Cboe HQ is located in the historic Old Post Office district, it’s a landmark that blends classic architecture with modern amenities. The building features expansive spaces with high ceilings and large windows, offering an abundance of natural light and panoramic views of the city skyline 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, a fitness center, and collaborative workspaces, creating a vibrant and dynamic work environment in one of Chicago's most iconic areas.

Description 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 Quantitative Risk Manager to join our growing Risk Management team. This position will report directly to the Chief Risk Officer.

Models and Risk Framework Design Independently create derivatives valuation and portfolio margin models that will be used by the Clearinghouse for valuation of complex portfolios of exchange-traded futures and options under different market conditions; and for calculating Clearing Member margin requirements. The process of creating such models and analytics will include writing whitepapers indicating industry references, use of data and assumptions, model details and back-testing results. There is an expectation that you will be required to provide insights into model functionality, capabilities, and limitations to senior management, Risk Management Committee, auditors and regulators. Create frameworks for portfolios stress testing and analysis to capture various types of risk to the Clearinghouse and translate the findings into recommendations for financial resources planning. Create frameworks and processes for designing default management auctions as well as performing analysis of slippage incurred in the event of liquidation of Clearing Member portfolios under default scenarios taking into account volume, market depth/spread, market conditions and different hedging options. Research to support new instruments listing on participating exchanges for Clearing. Stay abreast of developments in the field of financial risk modeling particularly related to Clearinghouses. Governance Create a structure of model governance, version control and change management including change approval structure. Help develop Policies and Procedures for Model Risk Management as well as meet with or respond to requests from regulators or auditors for information. Understand regulatory requirements in relation to monitoring and calibration of risk