Senior Manager, Clearing Operations

About the role

This role involves owning the entire post-trade clearing process for the Coinbase Derivatives Exchange. Responsibilities include daily clearing, settlement, margining, and position reconciliation. The Senior Manager will also manage incidents and escalations with internal teams like Engineering and Risk, as well as external counterparties, ensuring smooth operations and problem resolution.

A key part of this position is fostering relationships with external clearinghouses, clearing members, FCM counterparties, and regulators. The manager will ensure that any clearing issues are resolved promptly and that institutional partnerships remain strong. Additionally, the role drives continuous improvement in clearing procedures, controls, and risk frameworks to meet CFTC regulatory standards for various derivatives products.

Success in this role means building and leading a high-performing clearing operations team, establishing clear KPIs, SLAs, and workflows that can scale with the company's growth. The manager will also act as a subject matter expert for clearing operations, supporting regulatory filings, governance requirements, and audit responses, ensuring the company maintains compliance and operational excellence.

The base salary for this position ranges from $112,000 to $188,000 USD annually, with total compensation potentially including equity and bonus eligibility.

Skills that matter here

• clearing operations: This role requires 7+ years of direct experience in clearing operations within a CFTC-regulated environment.
• CFTC-regulated derivatives: Deep expertise in the full trade lifecycle for these products, including clearing, settlement, and margining, is essential.
• industry clearinghouses and utilities: The manager will need proven experience in managing relationships with major clearinghouses like CME Clearing or ICE Clear U.S.
• building and leading teams: A track record of building and leading teams responsible for critical operational functions is required to scale the clearing operations.
• CFTC regulations: Strong working knowledge of these regulations, DCO rulebook requirements, and FCM obligations is necessary for compliance and regulatory filings.
• generative AI: The role expects responsible utilization of generative AI to improve workflow efficiency while maintaining human oversight.

Who this role suits

• Someone with a strong background in regulated financial markets, specifically derivatives clearing.
• An individual who excels at building and maintaining relationships with external partners and regulators.
• A leader who can establish scalable processes, controls, and risk frameworks in a dynamic environment.
• A person who thrives in a fast-paced setting and is committed to operational excellence and regulatory compliance.

From the employer

• Own day-to-day clearing, settlement, margining, and position reconciliation across CDE, including incident management and escalation with Engineering, Risk, Legal, Compliance, and external counterparties.
• Lead relationships with external clearinghouses, clearing members, FCM counterparties, and regulators, ensuring timely resolution of clearing issues and strong institutional partnerships.
• Drive the development and continuous improvement of clearing procedures, controls, and risk frameworks to meet CFTC regulatory standards across listed derivatives, options, and prediction markets.
• Partner with Product and Engineering to ensure clearing infrastructure supports new product launches, including emerging prediction market structures, through operational readiness testing and mock-day exercises.
• Build and scale a high-performing clearing operations team, establishing KPIs, SLAs, workflows, and succession plans that grow with Coinbase.
• Support regulatory filings, DCO/FCM governance requirements, and audit responses as Coinbase's subject matter expert in clearing operations.

• 7+ years of experience in clearing operations at a CFTC-regulated exchange, clearinghouse, FCM, or comparable institution, with direct experience at a CFTC-registered DCO, DCM, or FCM in a clearing or post-trade capacity.
• Deep expertise in the full trade lifecycle for CFTC-regulated derivatives: clearing, settlement, margining, default management, position reconciliation, and delivery across listed futures, options on futures, and prediction markets.
• Proven experience managing relationships with industry clearinghouses and utilities (e.g., CME Clearing, ICE Clear U.S., OCC) and overseeing clearing member and FCM counterparty obligations.
• Track record of building and leading teams responsible for operationally critical functions, with demonstrated ability to establish scalable processes, controls, and risk frameworks.
• Strong working knowledge of CFTC regulations, DCO rulebook requirements, and FCM obligations, with experience contributing to regulatory filings and audit responses.
• Utilizes generative AI responsibly, maintaining human oversight to deliver business-ready outputs and drive measurable improvements in workflow efficiency, cost, and quality.

• Base salary varies by location, with an annual range of $227,630 — $267,800 USD.
• Total compensation may also include equity and bonus eligibility, and benefits (medical, dental, vision, 401(k)).
• Coinbase is committed to providing reasonable accommodations to individuals with disabilities.