Skip to main content
David Careers

Clearing Operations Manager

Posted 3 days ago

edgeclearChicago (IL)
Financial Specialists, All OtherFinancial Transactions Processing, Reserve, and Clearinghouse Activities

SENIORITY

Senior

SALARY

$115,000 - $135,000 per year

Apply (opens in a new tab)

About the role

Position: Clearing Operations Manager
Location: Chicago, Illinois (must live in or relocate to the Chicago area)
Schedule: On site, full time, Monday to Friday at our River North office
Type: Full-Time, direct EdgeClear employee with benefits
Experience: 5+ years in futures clearing operations at an FCM, clearing firm or carrying broker About EdgeClearEdgeClear is a pending non-clearing Futures Commission Merchant (FCM). As an FCM, EdgeClear will carry customer accounts and clear through a primary and a secondary clearing firm on an omnibus basis. We combine an experienced brokerage team with proprietary trading and risk technology. We are hiring our first Clearing Operations Manager to own clearing operations for the FCM. This is a direct internal position and a founding role on our FCM operations team, reporting to the President.
The Role: You will make sure every trade, position and dollar agrees across our back office, our clearing firms and our execution feeds, every trading day, and resolve every break before the next open. You will work daily in QST Quick Back Office (QBO), clearing firm omnibus statements and execution data. Before launch, you will help build and test these processes. Training on the back-office software is provided. Our objective is simple: customers see correct positions, balances and statements every morning, with no exceptions carried forward.
Key Responsibilities:
  • Reconciliation and Break Resolution
  • Reconcile Quick Back Office (QBO) against each clearing firm against the execution feeds, at customer account level, before the next trading day
  • Investigate and resolve broken trades with the clearing firms: unmatched and out trades, price and quantity discrepancies, wrong account allocations
  • Handle busts and adjustments under exchange error trade rules
  • Reconcile bank activity to Quick Back Office (QBO) ledgers as an independent check on Treasury
  • Margin, Positions and Clearing FirmsAgree positions, open trade equity, cash and fees with each clearing firm's daily omnibus statements
  • Run the daily omnibus margin process, including the offsetting that determines margin posted at the clearing firms
  • Work under-margined accounts and margin calls with the Risk Manager
Process account transfers between clearing firms and to or from other FCMsContract Lifecycle, Regulatory Output and FeesManage contract expirations, first notice and delivery risk, and options exercise and assignment with the Trade DeskVerify customer daily and monthly statements, large trader reporting, ownership and control reporting, and special call position data Audit clearing, exchange and NFA fees and clearing firm invoices against contracted rates Pre-Launch BuildLearn QBO and take part in user acceptance testing with the vendor Support onboarding with our primary clearing firm and keep the secondary clearer tested and ready Write clearing operations procedures, break handling runbooks and escalation paths Run end-to-end rehearsals before go-live Required Skills & Qualifications
Experience: 5+ years in futures clearing operations at an FCM, clearing firm or carrying broker Reconciliation: Daily three-way reconciliation of back office records, a clearing firm and execution feeds, performed by you Break Resolution: Hands-on resolution of broken, out and error trades, including exchange error trade procedures Technology Skills: At least one back office clearing system such as GMI, Rolfe and Nolan or QBO, plus strong Excel. QBO training is provided and you will become the firm's QBO expert Regulatory Knowledge: Working knowledge of omnibus margining and CFTC customer funds rules Collaboration: Comfortable working daily with Treasury, Risk, the Trade Desk, Compliance and our technology team Problem-Solving: Traces a break to its root cause and fixes the process, not just the entry Completing the Circle: Every break closed, documented and explained before the next open Coachable: Open to feedback and quick to learn a new back office system Other Preferred SkillsNew FCM Build: Experience setting up a new FCM, a new clearing relationship or a back office migration Execution Data: Experience with T4 or Rithmic data Data Skills: SQL, Python or other scripting to automate reconciliations Licensing: Series 3Trading: Trading and/or investing experience is a plus
Additional Details:
  • QBO training and full onboarding to our clearing relationships and procedures
  • The chance to build FCM clearing operations from the ground upCareer development roadmap for all employees
  • Offices in River North, Chicago
  • Why Join EdgeClear?
  • Impact: You set the operating standard for a new FCMCareer Growth: A founding role that grows with the firm
  • Ownership: Clear scope, direct line to leadership, decisions that stick
  • Team Environment: A small, experienced brokerage team backed by in-house technology
Benefits: 401(k) match and health insurance contribution CompensationBase salary of $115,000 to $135,000, depending on experience, plus 401(k) match and health insurance contribution.
References: Please be ready to provide 2 to 3 professional references.
NOTE: ADJUST YOUR RESUME TO SHOW THE REQUIRED SKILLS. APPLICATIONS THAT DO NOT DEMONSTRATE ALIGNMENT WILL NOT ADVANCE.

Before you apply

Applying takes about a minute. These four things decide how fast it moves after that.

Your profile is current

It's what we read first. Occupations, seniority and locations matter more than a long history.

Two examples you can talk through

Not a portfolio — just two pieces of work where you can explain the decisions and what you'd change.

A number in mind

What you're on now and what would make you move. We negotiate better when we know both.

Your notice period

Employers plan around it, and it's the question that stalls offers most often.

Once you apply, someone reads it and calls you before anything reaches the employer — usually within two working days.

More like this