Futures Operations ManagerOffice Location: Jersey City, NJ or Dallas, TX or RemoteAbout the Team & Role:The Futures Clearing Operations Manager is responsible for overseeing all clearing and settlement activities for US futures transactions, ensuring compliance with regulatory requirements, mitigating risk, and optimizing operational efficiency. This role requires knowledge of futures clearing processes, margining, risk, reconciliation, and exchange regulations, particularly within U.S. markets.
What You'll Do:- 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 i.e. CME group and its affiliated exchanges.
- 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.
- Technology & Systems: Work with IT and vendors to onboard, maintain and improve back-office and risk management systems.
- 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.
RequirementsWhat You Bring:- 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.
Required Licenses:- FINRA Series 3 or ability to obtain within 3-6 months of hire
BenefitsWhat We Offer:- 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
Base pay for a successful applicant will depend on a variety of job-related factors, which may include education, training, experience, location, business needs, or market demands. The expected salary range for this role is
$125,000 - $155,000. This role is also eligible to participate in our discretionary bonus plan.
DisclaimerThe above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Employment with Futu Holdings Limited, including all subsidiaries, is on an at-will basis. This means that either the employee or the Company may terminate the employment relationship at any time, with or without notice and with or without cause, subject to applicable law. Nothing in this job posting or description should be construed as creating an express or implied contract of employment or guarantee of employment for any specific duration.
