Derivative Operations Senior Analyst

LegalAndGeneral; London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading UK financial services group is seeking a Derivative Operations Senior Analyst to ensure effective management of derivative services. This role involves working with trade processing, securities lending, and collaboration with internal and external stakeholders, contributing to global trading activities and enhancing client service delivery.

Benefits

Annual performance-related bonus

Generous pension contributions

Life assurance

Healthcare plan

25 days holiday plus public holidays

Electric car scheme

Discounts on products

Qualifications

• Experience with derivatives, swaps, and equity options.
• Experience calculating complex OTC cashflows.
• Ability to manage outsourced service delivery.

Responsibilities

• Completing daily derivative operations tasks such as trade processing.
• Monitoring service delivery KPIs and escalating issues.
• Creating and maintaining procedures for asset services.

Skills

Asset management experience

Knowledge of OTC derivatives

Ability to adapt to change

Tools

OSTTRA

Markit systems

Job description

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Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor.

We've been safeguarding people's financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world's largest asset managers and provide powerful asset origination capabilities. These underpin our retirement and protection solutions: we are an international player in pension risk transfer, UK and US life insurance, and UK workplace pensions and retirement income.

L&G Asset Management is one of Europe's largest asset managers, providing responsible investment solutions across public and private markets. As a global investor, we are present where our clients need us - from Hong Kong and Singapore to Chicago and major European financial hubs.

Created by combining our investment management (LGIM) and asset origination (LGC) capabilities, our Asset Management division works with our Institutional Retirement and Retail divisions to benefit our clients and customers—including individual savers, pension scheme members, and global institutions—and to deliver long-term shareholder value.

Joining us means becoming part of a market-leading team, with capabilities across all asset classes, committed to responsible investing and creating sustainable value for our clients and partners.

Job Description

We are recruiting for a Derivative Operations Senior Analyst to join our Derivative Operations team. This team ensures that all derivative services (including Derivative Trade Processing and Securities Lending) are managed effectively, processed in accordance with market deadlines and industry best practices, and comply with regulatory requirements and quality standards.

The role involves completing all derivative operations activities (covering Derivatives Trade Processing (ETD, OTC Bilateral & Cleared) and Securities Lending) in line with internal and external deadlines, policies, procedures, and controls, supporting L&G Asset Management's global trading activities and client service delivery.

Responsibilities include:

• Completing daily derivative operations tasks such as trade processing and securities lending in line with market and regulatory deadlines.
• Collaborating with internal stakeholders, outsourced providers, and third parties to manage asset services effectively.
• Monitoring service delivery KPIs/KRIs and escalating issues promptly.
• Investigating operational queries and resolving inconsistencies, reporting issues to supervisors.
• Identifying control weaknesses and implementing process improvements.
• Creating and maintaining procedures and workflows for asset services.
• Managing operational risks and ensuring compliance, communicating with senior management.
• Engaging with service recipients and vendors, participating in forums, and driving continuous improvement.

Qualifications

Ideal candidates will have:

• Asset management experience and deep knowledge of OTC derivatives, including swaps and equity options.
• Experience with securities lending tasks such as counterparty management, collateral validation, and income recovery.
• Experience calculating and settling complex OTC cashflows, including resets, coupons, unwinds, novations, porting, and buy-ins/buy-outs.
• Knowledge of system and product data improvements, leveraging market systems like EMIR, MiFID, SWIFT.
• Experience managing outsourced service delivery and third-party relationships, ensuring compliance.
• Ability to adapt to change, multitask under pressure, and meet deadlines.
• Experience with OSTTRA and Markit systems is preferable.
• Commitment to professional development and strategic improvement through collaboration and industry awareness.

We offer a comprehensive benefits package, including:

• Annual performance-related bonus and share schemes
• Generous pension contributions
• Life assurance
• Healthcare plan (for permanent employees)
• At least 25 days holiday plus public holidays, with options to buy or sell holiday
• Family leave policies
• Electric car scheme via salary sacrifice (for permanent employees)
• Discounts on products and at high street stores
• Modern, wellbeing-focused workspace environments

Additional Information

At L&G, we believe in generating positive returns today while building a better future for all. We foster an inclusive culture with opportunities for collaboration across diverse backgrounds. Our leaders are committed to integrity and your wellbeing. We support career development and flexible working arrangements, including part-time, term-time, and job shares, where feasible.

Don't worry if you don't meet every criterion—consider what you excel at, your potential, and how you connect to our purpose.

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