Job Description

Title: Senior Director of Derivatives Sales – US Sell Side

Location: NYC (flex hybrid)

This senior individual contributor will be responsible for leading the Derivatives Sales team’s effort to expand and grow the global derivatives business with sell side firms across the United States.

For this complex and critical client channel, this individual will be responsible for building and implementing the Global Derivatives Sales team’s go-to-market strategy for Cboe’s suite of proprietary derivatives products as well as multi-list options.  This role has a wide scope of products as well as client needs.  A top candidate will already have deep experience selling equity derivatives products to a wide range of customers, including listed options (index, ETF, and single stock), listed futures, OTC options, and OTC swaps.

This role will be a multi-dimensional, solutions-oriented sales role, cultivating users of Cboe’s existing products (i.e. SPX options, VIX options, VIX futures, iBoxx futures, RUT options, MSCI options, CEDX options and futures), as well as building demand for and onboarding clients to trade our next generation suite of volatility products.  The direct sales coverage responsibilities will cross a wide variety of sales, trading, structuring, clearing, and financing desks within a typical sell side firm or investment bank.  Additionally, the salesperson will develop and maintain senior relationships across the key desks/departments at each of the key clients within this channel.

A heavy amount of prospecting will be a key requirement for success in this role – developing and executing a strategy for identifying and cultivating prospective users of Cboe’s products will be a core objective, and a top candidate will have a proven track record business development / creating a sales strategy.

The primary exchange responsibilities include:

• Cboe’s European options & futures exchange (CEDX)
• Cboe’s US options exchanges (C1, C1, BZX, EDGX)
• Cboe’s US futures exchange (CFE)
• All options & futures products traded on these exchanges are en scope for the role

This role is within the Global Derivatives organization and will be reporting into the Head of Derivatives Sales – US Members. Salespeople are responsible for SalesForce reporting, pipeline management, account management, campaign management, Confluence management, cross-selling, and other sales initiatives. Salespeople are also responsible for vetting potential clients for new product initiatives, providing new product education, help with new product onboarding (including answering questions related to clearing, fees, market structure, etc.), and monitoring post-launch trading activity and client experience.  

The role will involve managing clients based across the United States, with travel to visit clients and attend conferences varying throughout the year based on the needs of the business and its clients, as to be determined by the salesperson and Head of Derivatives Sales – US Members.  Candidates should be prepared to spend a meaningful amount of time on in-person meetings in NYC, as well as engaging with colleagues and clients across the globe virtually.

The Position Will Be Responsible For:

• Delivery & implementation of a strategic sales plan for the covered client channel(s) covering the Global Derivatives exchanges; this will include mapping the critical ecosystem for our sell side clients to access our derivatives exchanges.
  • Based upon salesperson’s goals and department priorities, organize structured work weeks, which may include formal office visits, phone calls, electronic and other forms of interactions, with limited need for oversight.
  • Prospect new clients within the sell side client segment / channel.
  • ross-sell all Cboe products and services. 
  • Identify use cases for target investors.
  • Work collaboratively with internal teams and business units, e.g., Data & Access, Marketing, Communications, Options Institute, Cboe Labs/Product Innovation, FX etc.
  • Create and deliver solutions to increase volumes and expand our customer base in Cboe’s proprietary options and futures product suite, which includes iBoxx, SPX, VIX, RUT, MSCI and other new product initiatives.
• Creation & monitoring of sales goals and KPIs for the covered client channel(s).
• Regular reporting on sales & client progress to the Global Sales Head and Business Leaders.
• Build relationships with new and existing customers to support adoption of Cboe’s proprietary tradeable derivatives products.
• As a player coach, the individual will also be responsible for leading the next generation volatility product new launch go-to-market for the global team of individual sales producers.

Qualifications:

• Bachelor's Degree in in any field
• 12+ years of experience working on a Derivatives sell-side sales and trading desk for an investment bank; or a minimum of 8+ years in the previous sell-side role combined with 4+ years at a buy-side asset management firm working within trading, portfolio management, or business development.
• Evidence of success in previous sales roles is required, including management of a book of clients with sales production targets. 
• Derivatives experience ideally will include a mix of listed and OTC, vanilla and exotics products; experience can include selling, trading, or structuring QIS, OTC exotics, and structured notes, with evidence of how new indices and listed options / listed futures can be utilized within these products.
• A top candidate will have evidence of success working through the ecosystem challenges of bringing new products to market or onboarding new products within their previous firm(s).
• Senior-level relationships with investment professionals across the ecosystem of banks, market makers, and hedge funds are required; ability to further build these relationships through the role is a must
• Able to effectively lead and participate in high-level discussions with heads of trading, heads of sales, heads of prime services, heads of risk, heads of the derivatives business, etc.
• Strong teamwork skills, including the ability to work collaboratively alongside colleagues on different teams and in different regions.
• Be results driven, demonstrate outstanding project management skills; prioritize tasks and work assignments, balancing multiple tasks simultaneously with accuracy and quality; adjust to changes in priorities and situations; complete work under pressure; meet deadlines.
• Excellent communication skills (written, oral, and in video calls); organize and express ideas clearly and understandably when speaking to individuals or groups; listen to others & respond appropriately; and prepare/deliver presentations to senior executives internally and externally.
• Develop and maintain a network of business and professional contacts; leverage business relationships to support Cboe’s goals.
• Interact in a professional manner with internal and external contacts; use tact and diplomacy; maintain confidentiality; appropriately handle and communicate controversial or sensitive information.
• Evaluate, analyze, and summarize data and facts with insight and brevity; establish logical connections; form sound decisions based on analysis.
• Strong proficiency with MS-Office, including presentation software (i.e. PowerPoint), CRM, e.g. SalesForce and internal applications.
• In addition to English, fluency in a second language is not required for this US-based role.

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As required by the New York City Human Rights Law, Cboe provides a reasonable range of minimum base salary for roles that may be performed in New York City. Actual compensation is influenced by a wide array of factors including but not limited to geographic location, skill set, level of experience, etc. For New York City only, the range of starting base salary for this role is $172,000-$283,000. Additional incentive compensation and benefits may be available.

Any communication from Cboe regarding this position will only come from a Cboe recruiter who has a @cboe.com email or via LinkedIn Recruiter. Cboe does not use any other third party communication tools for recruiting purposes.