Data Science Manager – Derivatives Products

Cboe; New York (NY); Hybrid; USD 125,000 - 156,000; Full time

Job summary

Join a forward-thinking company as a Data Science Manager, where you'll tackle complex challenges in derivatives products. You'll lead efforts in statistical modeling and predictive analytics, focusing on real-time option model fitting and enhancing derivatives risk analytics. This role offers a unique opportunity to work with a dedicated team, leveraging vast analytic data to drive innovation in the financial markets. With a commitment to professional development and a supportive work environment, this position is ideal for those looking to make a significant impact in a dynamic industry.

Benefits

Medical Coverage

Dental Coverage

Vision Coverage

Life and AD&D Insurance

Retirement Savings Plan

Employee Stock Purchase Plan (ESPP)

Paid Time Off

Prescription Drug Coverage

Additional Medical Benefit

Voluntary & Additional Benefits

Qualifications

• 5+ years of experience in financial industry with statistical modeling.
• Strong proficiency in Python, R, and SQL required.

Responsibilities

• Apply predictive analytic methods to assess model integrity.
• Collaborate with Development teams for Quality Engineering tooling.

Skills

Statistical concepts

Predictive analytics

Communication skills

Machine learning

Programming in Python

Programming in R

SQL

Java

Optimization approaches

Education

Masters degree in quantitative discipline

Job description

Job Description: Data Science Manager – Derivatives Products

Building trusted markets —powered by our people.

Company Overview

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 inclusive 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. Our Associate Resource Groups champion diversity, equity, and inclusion, giving associates a safe space to network, share ideas, and create opportunities.

The Cboe Data Vantage group seeks a Data Science Manager to join our team. Data Vantage provides derivatives valuation, risk analytics, and margin services that enable institutional clients to manage derivatives risk and enhance and support investment strategies.

This role will focus on our global real-time option model fitting processes that apply models including binomial, SABR, and MJD and use machine learning for real-time calibration. This is an opportunity to advance one’s knowledge of the derivatives markets, gain hands-on exposure to a uniquely vast amount of analytic data, and to work within a team with deep experience in financial markets and computer science who are committed to improving information in the financial markets.

Location: NYC or Chicago (flex hybrid)

Responsibilities

• Apply statistics including use of predictive analytic methods to assess the integrity, stability, and reliability of the model results over time.
• Propose and develop new metrics and data views that can help us maintain and improve the fitness of our derivatives risk analytics and supporting data processes.
• Collaborate with Development teams to help create Quality Engineering tooling and frameworks. This includes providing R&D results along with specifications and prototypes.

Qualifications

The candidate will have a strong understanding of statistical concepts and data science methods.

• Masters degree required in a quantitative discipline such as Statistics, Operations Research, Engineering, Physics, Math, or Computer Science.
• Academic and/or industry experience with statistical modeling and predictive analytics.
• 5+ years of experience, ideally in the financial industry with exposure to financial products (e.g., equities and options, fixed income) and could include experience with option pricing models such as Black Scholes, or rates curve bootstrapping and models such as Nelson Siegel.
• Strong proficiency in programming/scripting languages such as Python or R, and SQL is a requirement. Ability to write code and analyze large data sets. Familiarity with Java is a plus.
• Experience with optimization approaches is a plus.
• Communication skills to work effectively with both technical and business side team participants.

Benefits and Perks of working for Cboe Global Markets

We value the total wellbeing of our people – including health, financial, personal, and social wellness. We believe standard benefits like health insurance and fair pay are a given at any organization. Still, you should know we offer:

• Medical Coverage
• Prescription Drug Coverage
• Additional Medical Benefit
• Dental Coverage
• Vision Coverage
• Spending Accounts
• Life and AD&D Insurance
• Retirement Savings Plan
• Employee Stock Purchase Plan (ESPP)
• Voluntary & Additional Benefits
• Paid Time Off

More About Cboe Europe

We’re reimagining the future of the workplace by focusing on what matters most, our people. Our journey is an inclusive one. We’re investing deeply in leadership programs and career development initiatives that ensure everyone has an equal chance to succeed. We celebrate the diversity in our communities, inside and out, and welcome new perspectives with equity, inclusion, and belonging.

We work with purpose, solving problems with ingenuity, collaboration, and a lot of passion. We’re an engaged and excited team connecting markets across borders and embracing growth in all its forms to achieve incredible outcomes.

Learn more about life at Cboe on our website and LinkedIn.

Equal Employment Opportunity

We're proud to be an equal opportunity employer - and celebrate our associates' differences, including race, religion, sex, sexual orientation, gender identity, national origin, age, and disability.

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Our pay ranges are determined by a number of factors, including, but not limited to, role, experience, level, and location. The national new hire base pay range for this job in the United States is $125,800-$155,400. This range represents the minimum and maximum base pay the company expects to offer for new hires working in the position full time. If you live in one of the following areas or if you work in a Cboe office in the following areas, the range may be higher according to the geographic differentials listed below:

US Geographic Differentials:

• 110%: Austin TX, Chicago IL, Denver CO, San Diego CA
• 115%: Los Angeles CA, Seattle WA
• 120%: Boston MA, Washington DC
• 125%: New York City NY
• 130%: San Francisco CA

Within the range, individual pay is determined by a number of factors, including, but not limited to, work location, job-related skills, experience, and relevant education or training. In addition to base pay, our total rewards program includes an annual variable pay program and benefits including healthcare (medical, dental, and vision), 401(k) with a generous company match, life and disability insurance, paid time off, market-leading tuition assistance, and much more! Your recruiter will provide more details about the total compensation package, including variable pay and benefits, during the hiring process. For further information on our total rewards program, visit TOTAL REWARDS @CBOE.

Any communication from Cboe regarding this position will only come from a Cboe recruiter who has a @cboe.com email or via LinkedIn Recruiter. Cboe does not use any other third-party communication tools for recruiting purposes.