Managing Director, U.S. FCM Platform Lead

BMO — New York, NY, USA

Posted 2026-11-06

Application Deadline:

12/10/2026

Address:

151 W 42nd Street

Job Family Group:

Capital Mrkts Sales & Service

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

BMO Capital Markets is a global firm that operates across North America, Europe, and Asia. To complement the strength of our existing global markets franchise, we are seeking to establish a Futures Commission Merchant (“FCM”) in the United States to complement BMO’s other U.S. financing and clearing businesses.

To this end, we are seeking an experienced futures and clearing executive to lead the development and build-out of our FCM capabilities.

This is a unique opportunity to build a new business and operating platform from the ground up. The successful candidate will serve as the senior business lead for the U.S. FCM initiative, with end-to-end responsibility for driving the platform from design and regulatory approval through technology and operational implementation, launch, and ultimately commercialization.

The role requires an individual with deep knowledge of the U.S. futures clearing industry and, ideally, direct experience building, launching, materially transforming or scaling an FCM platform. This individual must be equally comfortable setting strategic direction and working through detailed implementation issues. The successful candidate will have a demonstrated ability to roll up their sleeves, identify problems, develop pragmatic solutions, and drive decisions across a large and complex organization. Experience navigating the infrastructure required to operate an FCM is critical to be a strong candidate.

The right candidate for this role should have both the credibility and industry knowledge expected of a senior FCM executive with the practical orientation of someone who has successfully built complex businesses and infrastructure before. They should be comfortable moving between strategic questions and implementation details, whether that means discussing the target operating model with senior management, working through regulatory requirements, or sitting with Technology and Operations to resolve a workflow or systems issue.

Most importantly, this individual will take ownership. The role requires someone who does not wait for perfect information or assumes that another function will solve a problem. They will bring the appropriate stakeholders together, understand the issue, establish a path forward and drive execution through completion.

Key Responsibilities

Lead the U.S. FCM Build

  • Serve as the business owner and primary quarterback for the U.S. FCM initiative from initial design through implementation and launch.
  • Translate the strategic vision for the FCM into an executable business, operating, technology and regulatory roadmap.
  • Establish priorities, workstreams, milestones, dependencies and decision points across all aspects of the build.
  • Identify issues and gaps early, develop practical solutions and drive them to resolution.
  • Maintain accountability across workstreams and ensure that decisions made in one area are appropriately incorporated into the broader platform design.
  • Act as the central point of coordination between the Front Office and the numerous control, infrastructure and corporate functions involved in the initiative.

Drive the Regulatory Application and Readiness Process

  • Partner closely with Legal, Compliance, Regulatory Transformation, Risk and external advisers to lead the business aspects of the FCM registration and approval process.
  • Help define the target business model, products, exchanges, client segments, legal entities and clearing arrangements underlying the regulatory application.
  • Coordinate development of the policies, procedures, governance framework, controls and operating model necessary to support regulatory approval and operational readiness.
  • Participate in and help prepare the organization for interactions with relevant U.S. regulators and self-regulatory organizations.
  • Ensure regulatory requirements are translated into actionable business, operational and technology requirements.

Lead the Technology and Operational Build

  • Work closely with Technology and Operations to define the end-to-end FCM operating model and technology architecture.
  • Translate business and regulatory requirements into clear functional requirements for technology delivery.
  • Drive resolution of gaps related to trade capture, books and records, client margining, customer segregation, accounting, regulatory reporting, clearing, settlement and related workflows.
  • Partner with vendors and internal teams to determine the appropriate platform configuration and implementation path.
  • Ensure technology, operational and control capabilities are fit for purpose before launch.
  • Establish a scalable operating model that can transition effectively from the initial carrying-broker model toward greater internalization of clearing.

Build the Business and Operating Model

  • Develop client onboarding, pricing, clearing and service models appropriate to the targeted FCM offering.
  • Establish appropriate governance, management reporting and performance metrics for the platform.
  • Help recruit and develop the broader FCM team as the platform moves from build into production.
  • Over time, assume responsibility for transitioning the initiative from a build program into a sustainable operating business.

Qualifications

  • 9+ years of professional experience in futures, listed derivatives, clearing or FCM businesses, with deep knowledge of the U.S. FCM operating environment.
  • Prior experience playing a leadership role in an FCM build, launch, major platform transformation, regulatory registration or comparable clearing infrastructure initiative.
  • Strong working knowledge of the end-to-end FCM operating model, including clearing, margin, customer segregation, collateral, settlement, books and records, regulatory reporting and operational controls.
  • Demonstrated ability to manage complex, multi-year initiatives spanning Front Office, Technology, Operations, Legal, Compliance, Risk and Finance.
  • Experience translating business and regulatory requirements into technology and operational deliverables.
  • Demonstrated ability to identify problems, develop solutions and drive issues to closure rather than simply escalate them.
  • Excellent judgment with an ability to make progress in situations where requirements, ownership or solutions have not yet been fully defined.
  • Strong communication skills and the ability to work effectively with both senior executives and implementation teams.

Strongly Preferred

  • Experience standing up an FCM or material new FCM capability from the ground up.
  • Experience managing or materially contributing to an FCM regulatory application and readiness process.
  • Experience with FCM books-and-records, clearing and processing platforms, including familiarity with major industry vendor solutions.
  • Experience establishing connectivity and operating models with clearing houses, exchanges and carrying brokers.
  • Familiarity with institutional fixed income futures, Treasury futures and the interaction between futures clearing, repo and other financing businesses.
  • Experience helping transition a platform from third-party clearing toward greater self-clearing capability.

Please note the base salary for this role is $350,000 USD

Salary:

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.

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