Senior Business/System Analyst - Capital Markets Technology (OTC Derivatives | Trade Processing)

We're hiring a Senior Business Analyst to join a high-impact, globally distributed team at a top-tier global bank — working on one of the most critical components in the entire Financial Markets technology stack.

Every single trade booked by the bank — FX, Rates, Derivatives, ETD, Credit — flows through this system. You won't be working on the periphery. You'll be at the centre of it.

The bank is executing a large-scale FM re-platforming programme, migrating away from legacy trade processing systems into a fully in-house built, strategic Front-to-Back technology stack.

This is a hybrid profile: ~60% Business Analysis, ~40% System & Technical Analysis.

You'll be expected to gather and translate business requirements — but also get into the detail of system design, data modelling, and architecture discussions. You need to be someone who can sit in a design call with developers and architects, defend a solution, push back when something won't work, and know why.

Day-to-day you will:

• Gather requirements from traders, Middle Office, and product owners globally

• Translate business needs into detailed functional and system specifications (UML, BPML, logical data models)

• Own the onboarding of new products and lifecycle events onto the platform

• Participate in sprint planning, retrospectives, and design authority meetings

• Write and review test cases; support UAT end-to-end

• Handle ad-hoc stakeholder queries — including live incident support with trading desks

• Identify and manage project risks early; communicate to programme leads

• Work within a pod setup (BA + Dev + QA) as a de facto mini product owner

What You'll Need

Domain Knowledge — Essential:

• 7+ years as a Business Analyst in trade booking or trade processing, Front Office environment

• Deep understanding of trade lifecycle events: booking, confirmation, settlement, novation, termination, compression, allocation, fixing/coupon payments

• Strong product knowledge across at least one complex asset class — Rates (IRS, XCCY, FRA, Swaptions) or FX (Spot, Forward, Swap, Options)

• Solid grasp of the full FO → MO → BO flow: trading, P&L, market risk, operations, regulatory reporting

• Experience on an FM transformation or re-platforming programme (migration from legacy systems such as Murex, Calypso, Kondor, Summit)

• Familiarity with ISDA FpML and CDM standards — in a real project context, not just on paper

Domain Knowledge — Advantageous:

• Credit derivatives (CDS), ETD, structured or exotic products

• Understanding of market risk concepts: sensitivities (Delta, Gamma, DV01, Vega), Mark-to-Market, VaR

• Exposure to electronic trading infrastructure: FIX protocol, EMS/OMS systems, MiFID II/EMIR reporting

Technical Skills:

• Ability to produce high-quality functional specifications and system design documentation

• Comfortable with logical/physical data modelling and API concepts

• Experience working directly with developers — not just handing over requirements

• UML / BPML notation (strong plus)

Soft Skills:

• Assertive and confident in cross-team design discussions

• Strong communicator in high-pressure situations (trading desk incidents, senior stakeholders)

• Proactive, independent, detail-oriented

• Fluent English — written and spoken