Senior Manager, Clearing Operations

About the role

This role focuses on the daily oversight and strategic development of clearing operations for the Coinbase Derivatives Exchange. The Senior Manager will be responsible for critical functions such as clearing, settlement, margining, and position reconciliation. This includes managing incident responses and escalating issues to internal teams like Engineering, Risk, and Legal, as well as external counterparties. The goal is to maintain seamless post-trade processes and ensure operational stability.

A key aspect of this position is managing relationships with external clearinghouses, clearing members, and FCM counterparties. The Senior Manager will also engage with regulators to ensure compliance and resolve any clearing-related issues. Success in this area means fostering strong institutional partnerships and ensuring that all clearing activities adhere to CFTC regulatory standards across various financial products, including listed derivatives, options, and prediction markets.

The role also involves significant collaboration with Product and Engineering teams to integrate clearing infrastructure for new product launches. This includes conducting operational readiness testing to ensure new offerings are supported effectively. Additionally, the Senior Manager will be tasked with building and scaling a high-performing operations team, defining key performance indicators, service level agreements, and workflow processes to support Coinbase's growth.

The annual base salary for this position ranges from $227,630 to $267,800 USD, excluding potential equity and bonus.

Skills that matter here

• clearing operations: This role requires managing the full scope of clearing operations, including settlement, margining, and reconciliation for CFTC-regulated derivatives.
• CFTC-regulated derivatives: Expertise in the trade lifecycle for these financial instruments is crucial for ensuring compliance and efficient processing.
• industry clearinghouses and utilities: The role involves managing relationships with major clearing entities like CME Clearing and ICE Clear U.S.
• building and leading teams: This position requires establishing and scaling a high-performing team responsible for critical operational functions.
• CFTC regulations: A strong understanding of these regulations is necessary for compliance, governance, and audit responses.
• generative AI: The role expects responsible use of AI tools to improve workflow efficiency, cost, and quality, with human oversight.

Who this role suits

• A person with at least seven years of experience in clearing operations within a CFTC-regulated environment, such as an exchange, clearinghouse, or FCM.
• Someone who has a deep understanding of the entire trade lifecycle for derivatives, from clearing to default management.
• An individual with a proven history of managing external relationships with industry clearinghouses and regulatory bodies.
• A leader capable of building, scaling, and managing teams responsible for critical operational functions, establishing clear processes and controls.

From the employer

What you'll do:

• 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.

Required Skills and Experience:

• 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.

Pay Transparency Notice:

• Base salary varies by location (see range below). Total compensation may also include equity and bonus eligibility, and benefits (medical, dental, vision, 401(k)). Annual base salary range (excluding equity and bonus): $227,630—$267,800 USD.
• Please be advised that each candidate may submit a maximum of four applications within any 30-day period. We encourage you to carefully evaluate how your skills and interests align with Coinbase's roles before applying.

Commitment to Equal Opportunity

Coinbase is proud to be an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, creed, gender, national origin, age, disability, veteran status, sex, gender expression or identity, sexual orientation or any other basis protected by applicable law. Coinbase will also consider for employment qualified applicants with criminal histories in a manner consistent with applicable federal, state and local law.