Financial Controller

Job Title: Financial Controller

Location: Remote eligibility (Eligible states: IL, NY, CA, CT, DC, FL, MA, NC, TX, WI)

Preferred onsite location: Chicago, IL

Company Overview:
ForecastEx (a Subsidiary of IBKR) is an innovative and fast-growing derivatives exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC). As a pioneer in the derivatives market, we offer unique and dynamic products, including forecast contracts, that are tailored to a broad range of retail traders and institutional participants. Forecast Contracts are a unique type of event derivative that allows participants to invest in a wide range of macroeconomic, climate, and political topics.

Job Summary:
We seek an experienced Financial Controller to lead finance and clearing initiatives. This leadership role involves assisting the CEO in ensuring adherence to CFTC regulations, managing operational and financial risks, interacting with CFTC regulators when necessary, and improving current and future processes via automation initiatives. The ideal candidate will combine financial and clearing expertise with a proactive approach to navigating the evolving derivatives market landscape.

Key Responsibilities:

1. Financial Operations:
• Serve as the primary point of contact for finance matters, including interactions with Banks, FCMs and related third-party vendors and partners.
• Develop, implement, and maintain comprehensive policies, procedures, and workflows to ensure adherence to all applicable laws and regulations, including client fund segregation rules.
• Oversee financial audits and examinations relating to both the Exchange and Clearing operations and ensure timely and accurate reporting submissions.
2. Policy Development and Implementation:
• Establish and enforce internal policies and procedures to mitigate financial risks.
• Stay updated on financial regulations changes and industry best practices, advising leadership on necessary adjustments.
3. Risk Assessment and Monitoring:
• Identify, assess, and manage financial risks associated with existing and new products.
• Ensure the company fully complies with all CFTC regulations and all other applicable laws and regulations across all finance and clearing-related operations and activities.
4. Banking Oversight:
• Oversee all systems interfacing with existing banking relationships.
• Grow additional Banking relationships as necessary.
• Reconciliation of all internal and external accounts, ensuring proper segregation of funds as prescribed by CFTC rules.
• Monitor relevant banking and finance systems for real-time errors.
5. Collaboration:
• Partner with cross-functional teams, including product development, legal, operations, and technology, to ensure seamless finance integration across all business areas.
6. Stakeholder Communication:
• Provide regular updates to executive leadership and the board on finance activities, risks, and strategies.
• Represent the company in industry forums and exchange-related finance discussions.

Qualifications:

• Bachelor's Degree, preferably in Finance, Economics or other Business-related discipline.
• Leadership experience with the ability to manage teams and collaborate with diverse stakeholders.
• Strong analytical and problem-solving skills, with attention to detail and a proactive approach to business challenges.
• Minimum 5 years experience, preferably in banking, clearing, or brokerage services.
• Proficiency with cash management activities:
  • Bank transfers (wire, RTP),
  • Optimizing investment returns (via Government Securities, Repos, Money Market Funds),
  • Liquidity Management
• Proficiency with financial reporting activities:
  • Maintenance of books & records,
  • Managing receivables & payables,
  • Preparation of budgets.
• Understanding of basic risk management concepts
• Basic familiarity with CFTC regulations relating to DCOs, DCMs and FCMs.
• Able to assist in drafting technical specifications for the development of clearing & financial reporting applications
• Excellent communication skills, with the ability to professionally interact with FCMs, Banking Partners, and other similar partners

What We Offer:

• Competitive salary, annual performance-based bonus and stock grant.
• Retirement plan (401K) with company match
• Excellent health benefits, including medical, dental, and vision.
• Paid time off and a generous parental leave policy
• Flexible remote work in eligible states.
• A collaborative, growth-focused environment with mentorship and professional development opportunities.
• A dynamic, collaborative team environment with significant opportunities to shape the compliance and regulatory framework of an innovative exchange.