Investigator

Cboe Global Markets, Inc.; Chicago (IL); Hybrid; USD 79,000 - 103,000; Full time

Benefits offered by this job

Flexible, hybrid work environment

2:1 401(k) match

Paid Time Off

Job summary

Cboe Global Markets, Inc. is seeking a Cross Market Investigator in Regulation for a hybrid Chicago role. You will conduct surveillance and analysis of order entry and trading activity to detect rule violations, utilizing Python, SQL, and advanced Excel.

You will triage alerts end-to-end, document findings, and collaborate with the Options Investigations team to improve signal quality and explore new surveillance methodologies. Bachelor's degree required.

Qualifications

• 2+ years of experience in the securities/trading industry (derivatives experience preferred).
• Proficient in Python (pandas, numpy) and Jupyter notebooks for reproducible analysis.
• Advanced Excel skills: Power Query, pivot tables, complex formulas.
• SQL: performant queries, joins, window functions, QA data outputs.
• Exposure to SIGMA, Snowflake, and Big Data SQL environments is a plus.
• Strong analytical and research skills with ability to translate complex data into actionable findings.
• Excellent communication and documentation skills; able to present concise narratives.
• Experience with relational databases, VBA or Access for automation is a plus.
• Experience with SMARTS Trade System Surveillance software is a plus.

Responsibilities

• Conduct surveillance and analysis of order entry and trading activity to detect potential rule violations.
• Investigate alerts end-to-end: triage, validate, enrich, reconstruct timelines, and document findings.
• Analyze data into meaningful summaries and investigative narratives; maintain organized case files.
• Develop and maintain surveillance processes, data pipelines, and alert threshold tuning.
• Collaborate with cross-functional partners, especially the Options Investigations team, to improve signal quality.
• Participate in special projects like backtesting surveillance logic and data quality audits.

Skills

Python

Excel

SQL

Data analysis

Attention to detail

Communication

Jupyter

MS Office

Self-driven

Education

Bachelor’s degree

Advanced degree preferred

Tools

SIGMA

Snowflake

Big Data SQL

SMARTS

Job description

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.

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.

Role: Cross Market Investigator, Regulation

Work Location:

Hybrid role with required in-office presence Monday through Thursday each week. Office location: Chicago, IL.

Duties and Responsibilities:

• Conduct surveillance and analysis of order entry and trading activity on the Exchanges to detect potential violations of Cboe and CFE rules and policies, with heavy use of Python (pandas) and advanced Excel (Power Query, pivot tables, complex formulas).
• Leveraged AI-assisted analytics and Python (pandas, NumPy) to identify patterns in cross‑market trading activity, improving surveillance signal quality, reducing manual review time, and accelerating end‑to‑end investigations.
• Investigate alerts end‑to‑end: triage, validate, enrich with contextual data, reconstruct timelines, and document detailed findings suitable for review and potential escalation.
• Analyze and compile data into meaningful summaries and investigative narratives; maintain organized case files, update working datasets promptly, and make findings accessible to the team.
• Contribute to new surveillance processes and operational methodologies, including data pipelines, query logic, and tuning of alert thresholds to address evolving regulatory concerns.
• Conduct rule‑based investigations to ensure compliance with Exchanges rules; prepare structured memos that clearly lay out evidence, rationale, and conclusions.
• Develop and maintain deep understanding of the Exchanges’ regulatory environment, relevant rules and regulations, market microstructure, technologies and systems, and investigative/examination techniques.
• Collaborate with cross‑functional partners, particularly the Options Investigations team, to improve signal quality, share insights, and deliver effective, efficient surveillance outcomes.
• Participate in special projects (e.g., backtesting surveillance logic, data quality audits, automation of repetitive workflows, and retrospective reviews).

Skills and Experience:

• 2+ years of experience in the securities/trading industry (derivatives experience preferred), ideally in surveillance, compliance, or risk.
• Python (pandas, numpy; comfort with Jupyter notebooks and reproducible analysis).
• Excel (advanced): Power Query, pivot tables, nested formulas, data cleansing, reconciliation.
• SQL: ability to write performant queries, joins, window functions, and QA data outputs.
• Preferred data stack exposure: SIGMA, Snowflake, and Big Data SQL environments for large‑scale investigative analysis.
• Exceptional analytical and research skills, with the ability to apply both quantitative and qualitative analysis to ambiguous, detail‑heavy problems.
• Strong attention to detail and organization; comfortable with tedious, repetitive alert work and thorough documentation that stands up to scrutiny.
• Clear and effective communication skills (written and verbal) — capable of distilling complex market activity into concise, structured findings.
• Highly proficient in MS Office suite; experience with versioning of analyses and artifacts (e.g., disciplined file management, clear naming, audit trails).
• Self‑driven and dependable, able to work effectively and independently with all levels of management and staff; motivated by mission‑critical work that improves market integrity.
• Extra Credit: Experience with relational databases SQL, VBA, or Access for workflow automation.
• Extra Credit: Experience with SMARTS Trade System Surveillance software.

Education:

Bachelor’s degree required; economics, business, accounting, finance, statistics, computer science, or related fields (preferred). Advanced degree preferred (e.g., MS in Data Science/Statistics/Economics/Finance, MBA).

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:

• Fair and competitive salary and incentive compensation packages with an upside for overachievement
• Generous paid time off, including vacation, personal days, sick days and annual community service days
• Flexible, hybrid work environment
• Health, dental and vision benefits, including access to telemedicine and mental health services
• 2:1 401(k) match, up to 8% match immediately upon hire
• Discounted Employee Stock Purchase Plan
• Tax Savings Accounts for health, dependent and transportation
• Employee referral bonus program
• Volunteer opportunities to help you give back to your communities

Some of our associates’ favorite benefits and perks include:

• Complimentary lunch, snacks and coffee in any Cboe office
• Paid Tuition assistance and education opportunities
• Generous charitable giving company match
• Paid parental leave and fertility benefits
• On‑site gyms and discounts to other fitness centers
• Paid Time Off

More About Cboe Global Markets

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 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 do not discriminate against any employee or applicant for employment based on any legally protected characteristic, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, or veteran status. We are committed to fostering a workplace where all individuals are valued and respected.

This position is not eligible for visa sponsorship. Candidates must be legally authorized to work in the United States without the need for employer sponsorship now or in the future.

Salary Ranges (applicable for US locations only)

At Cboe, we are committed to providing a competitive, transparent, and market‑informed total rewards program. The anticipated base salary range for this role is $79,475-$102,850, with actual compensation determined by job‑related factors such as skills, relevant experience, education, internal alignment, and location.

This role may also be eligible for annual incentive compensation and, where applicable, participation in Cboe's long‑term equity programs.

Additional information about Cboe's total rewards program, including benefits and other compensation components, can be found here: Total Rewards at 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.