Senior Business Analyst ETD & Cleared OTC Transformation

Senior Business Analyst – ETD & Cleared OTC Transformation

Role Summary

We are seeking an experienced Senior Business Analyst with over 10 years of experience delivering business and technology transformation initiatives within Investment Banking Markets. This role is ideal for an individual with strong domain expertise across Exchange Traded Derivatives (ETD) and Cleared OTC products, combined with proven experience leading business analysis activities while coordinating project delivery across multiple workstreams.

You will play a key role in a large-scale transformation programme involving migration of books and records, reconciliation frameworks, and operational workflows. The role requires extensive stakeholder engagement across Operations, Middle Office, Finance, Product Control, Treasury and Technology teams to define future-state operating models, document business requirements and ensure successful implementation. Role will focus on Business Analysis activities, Project coordination and Delivery management.

Key Responsibilities

Business Analysis

• Lead requirements gathering workshops with business and technology stakeholders.
• Analyze current-state ETD and Cleared OTC operating models and define future-state processes.
• Produce detailed Business Requirement Documents (BRDs), Functional Requirements and supporting documentation.
• Develop process maps covering front-to-back trade lifecycle and post-trade operations.
• Perform business and data analysis to support migration initiatives.
• Document data lineage and mapping between source and target platforms.
• Define business rules, functional specifications and acceptance criteria.
• Support solution design by collaborating with Architecture and Technology teams.
• Perform impact assessments for system and process changes.
• Drive business sign-off throughout the project lifecycle.

Transformation & Project Delivery

• Coordinate delivery across multiple project workstreams.
• Maintain workstream plans, milestones and dependencies.
• Manage RAID logs including Risks, Assumptions, Issues and Dependencies.
• Prepare management updates, status reports and steering committee materials.
• Coordinate delivery activities across Business, Operations and Technology teams.
• Track project deliverables and ensure adherence to agreed timelines.
• Support release planning, implementation readiness and post-implementation reviews.

ETD & Cleared OTC Subject Matter Expertise

Demonstrate strong functional understanding of:

• Exchange Traded Derivatives lifecycle
• Cleared OTC Derivatives lifecycle
• Clearing Broker operating models
• Give-Up and Give-In workflows
• ETD brokerage processes
• Exchange fee processing and controls
• Trade capture and allocation
• Position management
• Margin and settlement concepts
• Books and Records architecture
• Operational control frameworks supporting derivative processing

Reconciliation & Controls

Lead analysis and enhancement of reconciliation processes including:

• Trade Reconciliations
• Position Reconciliations
• Cash Nostro Reconciliations
• Brokerage Control Accounts
• Operational exception management
• Break investigation workflows
• Control design and optimisation
• Preventative and detective reconciliation controls
• Target control operating models
• Identify opportunities to improve automation, reduce operational risk and strengthen the overall reconciliation control framework.

Documentation

Produce high-quality project artefacts including:

• Business Requirement Documents (BRDs)
• Process Maps
• Target Operating Models
• Current vs Future State Assessments
• Gap Analyses
• Data Mapping Documents
• Test Strategy
• UAT Documentation
• Business Acceptance Criteria
• Operational Readiness Documentation

Stakeholder Management

Partner with senior stakeholders across:

• Middle Office
• Operations
• Finance
• Product Control
• Treasury
• Technology Delivery Teams
• Architecture Teams
• Programme Management Office

Facilitate workshops, resolve cross-functional issues and build consensus across business and technology teams.

Required Experience

• 10+ years experience as a Business Analyst within Investment Banking.
• Strong experience delivering large-scale transformation or migration programmes.
• Demonstrable knowledge of ETD and Cleared OTC products and operational workflows.
• Experience analysing complex post-trade processes.
• Strong understanding of reconciliation operating models and associated control frameworks.
• Experience documenting business requirements and process flows.
• Excellent stakeholder management and workshop facilitation skills.
• Proven ability to manage multiple priorities within complex programmes.

Technical Knowledge

Good to have. Experience with one or more of the following platforms:

• FIS GMI (Good to have)
• ION XTP (Good to have)
• Transaction Lifecycle Management (TLM)
• JIRA
• Confluence

Experience with data analysis, business data mapping and migration activities is essential.

Desired Competencies

• Strong analytical and problem-solving capability
• Excellent written and verbal communication
• Structured thinking with attention to detail
• Strong organizational and planning skills
• Ability to influence senior stakeholders
• Comfortable operating in fast-paced transformation environments
• Collaborative leadership style
• Ability to translate business requirements into technology solutions

Preferred Experience

Candidates with experience in one or more of the following areas will be highly regarded:

• Books and Records transformation programme
• Reconciliation platform implementations or optimization
• ETD brokerage process redesign
• Post-trade operating model transformation
• Operational risk and control enhancement initiatives
• Data migration and system replacement programme