Senior Quantitative Risk Lead — Derivatives Clearing

Cedar Cares, Inc; Chicago (IL); On-site; USD 159,000 - 206,000; Full time

Benefits offered by this job

Health insurance

401(k) match

Paid time off

Tuition assistance

On‑site gym

Job summary

Cboe Global Markets is seeking a Quantitative Risk Manager in Chicago to design derivatives valuation, portfolio margin models, and comprehensive risk analytics. You will partner with the Risk Management team to validate models, monitor performance, and ensure regulatory compliance while driving data-driven decisions.

The role requires 10+ years in financial modeling within Capital Markets, mastery of VaR and stress testing, and strong Python programming capabilities.

Qualifications

• 10+ years of financial modeling experience in Capital Markets.
• 5+ years in a senior role with model development, validation and governance.
• Strong understanding of VaR, stress testing, and portfolio risk management.
• Deep knowledge of pricing and analysis of derivative instruments.
• Advanced statistics/econometrics including Monte Carlo, Time Series, Stochastic Calculus, Linear Algebra, Optimization and Probability.
• Programming experience with Python; deploying risk models.
• Master’s degree in Physics, Mathematics, Econometrics or related field.
• Experience with securities finance, asset pricing/modeling, and risk analytics.

Responsibilities

• Independently create derivatives valuation and portfolio margin models for complex portfolios and margin requirements.
• Develop governance structures, model risk procedures, and respond to regulators or auditors.
• Identify data sources and design data ingestion pipelines and storage schemas.
• Write technical specifications for developers and oversee deployment of risk models and QA tests.
• Collaborate with Risk Management to monitor models, calibrate risk, and present dashboards to stakeholders.

Skills

Python

Modeling

VaR

Time-series analysis

Monte Carlo simulation

Regressions

Stochastic calculus

Econometrics

Portfolio risk management

Education

Master’s degree in Physics, Mathematics, Econometrics or related quantitative field

Job description

Cboe Global Markets is seeking a Quantitative Risk Manager in Chicago to design derivatives valuation, portfolio margin models, and comprehensive risk analytics. You will partner with the Risk Management team to validate models, monitor performance, and ensure regulatory compliance while driving data-driven decisions.

The role requires 10+ years in financial modeling within Capital Markets, mastery of VaR and stress testing, and strong Python programming capabilities.