Director of Future Clearing Operations

Phaxis; Chicago (IL); On-site; USD 180,000 - 220,000; Full time

Job summary

Phaxis seeks a Director to lead its Futures Clearing team within a global financial institution. You will oversee daily operations, drive automation, and implement process improvements across 30 exchanges and 70+ balance sheets for institutional clients and brokers.

The role requires senior SME capabilities, collaboration across multiple internal teams, and a focus on scalable controls in a high-volume, regulated environment.

Qualifications

• 5-10 years of futures clearing or related derivatives operations experience.
• Deep knowledge of clearing workflows and trade lifecycle.
• Strong familiarity with regulatory requirements in futures clearing.
• Experience leading or managing operational teams.

Responsibilities

• Ensure futures and options trades are cleared, allocated, and booked to client accounts on trade date.
• Investigate and resolve trade breaks while coordinating with exchanges and brokers.
• Develop deep expertise across clearing technology (GMI, LISA, DUCO) and middleware.
• Partner with Clearing leadership on operational projects and automation initiatives.
• Identify inefficiencies and implement improvements to increase scalability and controls.
• Serve as a subject matter expert for the team on clearing issues and escalations.
• Stay current on futures industry developments, exchange requirements, and regulatory changes.
• Support responses from exchanges, regulators, auditors, and stakeholders.
• Collaborate with Operations, Front Office, Risk, Compliance, Technology, and other teams.
• Support end-of-day processing during a 12:00 PM-8:00 PM shift and participate in holiday coverage.

Skills

Leadership

Operations management

Process improvement

Automation

Regulatory knowledge

Tools

GMI

LISA

DUCO

RPA

Job description

A leading global financial institution with a significant presence across the futures and derivatives markets is seeking a Director to join its Futures Clearing team. The platform clears across approximately 30 global exchanges and manages reconciliations across 70+ balance sheets, supporting institutional clients and executing brokers across a high-volume, highly regulated environment.

This individual will serve as a senior subject matter expert within Clearing, helping oversee daily operations while driving automation, process improvements, and new business initiatives.

Responsibilities

A leading global financial institution with a significant presence across the futures and derivatives markets is seeking a Director to join its Futures Clearing team. The platform clears across approximately 30 global exchanges and manages reconciliations across 70+ balance sheets, supporting institutional clients and executing brokers across a high-volume, highly regulated environment.

This individual will serve as a senior subject matter expert within Clearing, helping oversee daily operations while driving automation, process improvements, and new business initiatives.

• Ensure futures and options trades are accurately cleared, allocated, and booked to client accounts on trade date
• Investigate and resolve trade breaks while coordinating with exchanges, carrying brokers, executing brokers, and clients
• Develop deep expertise across the firm's clearing technology, including GMI, LISA, DUCO, RPA, and related middleware
• Partner with Clearing leadership on operational projects, automation initiatives, new business implementations, and process enhancements
• Identify inefficiencies and implement improvements that increase scalability, controls, and operational capacity
• Serve as a subject matter expert for the team, providing guidance on complex clearing issues and escalations
• Stay current on futures industry developments, exchange requirements, and regulatory changes
• Support responses and requests from exchanges, regulators, auditors, and other stakeholders
• Collaborate closely with Operations, Front Office, Risk, Compliance, Technology, and other internal teams
• Support end-of-day processing through a 12:00 PM-8:00 PM shift
• Participate in rotational coverage on certain U.S. holidays

Qualifications

• 5-10 years of futures clearing or related derivatives operations experience
• Strong working knowledge of GMI, LISA, and DUCO
• Deep understanding of the futures and options trade lifecycle, including clearing, allocation, booking, reconciliation, and break resolution
• Experience leading or managing operational functions and supporting team members
• Strong understanding of exchange-facing and regulatory requirements within futures clearing
• Advanced attention to detail with the ability to operate effectively under time-sensitive deadlines