Chief Risk Officer

About this role

Job Description: 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,   i t’ 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.  

Role Overview  

Cboe Clear US (Clearinghouse) is registered with the Commodit y Futures Trading Commission (CFTC) as a Derivatives Clearing Organization (DCO) and is registering with the Securities and Exchange Commission as a Covered Clearing Agency , currently supporting margin-eligible digital asset derivatives and binary options . Cboe Clearinghouse is hiring a Chief Risk Officer to provide strategic leadership and oversight of the financial risk 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 framework remains robust, 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 enhance market, credit, and liquidity risk management frameworks and implement in accordance with regulatory and company requirements  

• Oversee credit risk management of clearing members, settlement bank, and other counterparties including onboarding and ongoing credit due diligence , along with Watch List escalations  

• Develop the quantitative risk methodology and requirement for the Clearinghouse margin model, stress testing, and default manage ment in developing new products , ensuring risk methodologies remain sound and robust  

• Enhance model and financial resources back-testing , stress testing scenarios , and credit modelling to ensure robustness and regulatory standards are met  

• Conduct default management planning and testing in collaboration with clearing members and exchange liquidity providers; ensure the Clearinghouse maintains adequate resources to manage possible member defaults  

• 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 regulators in their exams process, responding to various inquiries on new rules or methodologies, understanding the regulatory expectations and building frameworks to meet those requirements  

• Implement and manage the Enterprise Risk Management (ERM) program for the Clearinghouse and ensure operations comply with internal 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 for identifying , 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 Clearinghouse maintains robust 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 and operating within Legal and Regulatory strategic engagement guidelines, including the ability to self-interpret regulatory rules and guidelines - specifically CFTC DCO core principles and SEC CCA requirements  

• Designed and built margin models, stress testing, liquidity, default management , and overall market and credit risk management at a CCP, FCM, bro

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