Futures Operations Manager

About the role

The Futures Operations Manager oversees clearing and settlement activities for US futures transactions, ensuring compliance with regulatory requirements, mitigating risk, and optimizing operational efficiency.

Responsibilities

• Clearing & Settlement: Manage the daily clearing and settlement of futures trades, ensuring accurate and timely processing through the firm's clearing relationships and exchange systems.
• Margin & Collateral Management: Monitor margin requirements, process margin calls, and manage collateral movements as well as daily net settlements in accordance with exchange and regulatory guidelines.
• Maintain segregated balance requirements for affiliates and manage treasury related operations.
• Reconciliation/Balancing: Oversee trade, position, and cash reconciliations with exchanges and internal systems to identify and resolve discrepancies. Manage daily balancing of futures activity and positions.
• Regulatory Compliance: Ensure all clearing operations adhere to regulations set by the CFTC, NFA, and relevant exchanges (e.g., CME). Prepare regulatory reports and audits as required. Assist compliance with regulatory inquiries and requests related to relevant clearing systems/portals as well as operations procedures, functions, and processes.
• Risk Management: Identify operational risks and implement controls to mitigate potential issues related to risk management, clearing, margining, and settlement.
• Process Improvement: Develop comprehensive operating procedures and continuously evaluate and enhance clearing workflows to improve efficiency, accuracy, and automation.
• Client & Counterparty Management: Serve as the primary liaison with exchanges, management, vendors, and clients to resolve operational issues.
• Team Leadership: Lead, manage, and train clearing operations staff, providing training and guidance on best practices as well as processes/functions.
• Policies & Procedures: Responsible for creating and updating comprehensive policies and procedures for all aspects of futures trading, clearing and settlement.

Requirements

• Education: Bachelor's degree in finance, Business, Economics, or a related field.
• 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: Excellent analytical and problem-solving abilities, effective communication and leadership/management skills, proficiency 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 with NFA and CFTC regulatory frameworks.