ForexClear Risk Analyst

London Stock Exchange Group; London; On-site; GBP 50,000 - 80,000; Full time

Job summary

LCH’s ForexClear division is seeking a Risk Analyst to support the risk management of its OTC foreign exchange clearing service in London. In this collaborative role, you will monitor risk exposures, contribute to stress testing, and assist in default management readiness, contributing to risk capabilities growth.

Benefits

Healthcare

Retirement Planning

Paid Volunteering Days

Wellbeing Initiatives

Qualifications

• Prior experience in a financial institution is preferred.
• Familiarity with FX derivatives and/or interest rate products is required.
• Solid understanding of risk concepts, stress testing, and margining principles is critical.

Responsibilities

• Monitor daily risk exposures and produce regular reports.
• Perform end-of-day exposure assessments and margin impact analysis.
• Assist with execution of default management drills.

Skills

Analytical Skills

Attention to Detail

Communication

Collaboration

Education

Degree in Quantitative or Finance-related Subject

Tools

Murex

Excel VBA

Python

Job description

Position: Risk Analyst – ForexClear Risk
Location: London
Division: LCH, ForexClear
Reporting to: Head of Default and Liquidity Management

Role Overview

LCH’s ForexClear division is looking for a Risk Analyst to support the day-to-day risk management of our OTC foreign exchange clearing service. The role focuses on monitoring exposures, supporting margin and stress-testing processes, and contributing to default management readiness. This is a technical and collaborative position that will work closely with internal teams, clearing members, and market participants.

The successful candidate will also have opportunities to lead new product risk assessments and write process improvements, contributing to the ongoing development of risk capabilities at ForexClear!

Key Responsibilities

• Monitor daily risk exposures and produce regular reports highlighting material risk drivers.
• Perform end-of-day exposure assessments, including pre-close checks and margin impact analysis.
• Validate data inputs and pricing models used in risk calculations and margin processes.
• Support the review and back-testing of risk models to ensure alignment with market behavior.
• Ensure consistent application of risk policies and contribute to periodic reviews of risk processes.

Stress Testing

• Maintain and update stress-testing scenarios to reflect relevant market risks.
• Evaluate the impact of market stress on member exposures and assess Default Fund adequacy.
• Ensure inclusion of new products and scenarios within the stress-testing framework, as appropriate.

Default Management

• Assist with the execution of default management drills and contribute to post-event analysis.
• Support interactions with clearing members involved in the Default Management Group (DMG).
• Ensure that appropriate procedures are in place to handle a member default optimally.
• Facilitate trade capture during simulation exercises and coordinate with operations teams.

Product & Process Support

• Help define risk requirements for new product initiatives and system enhancements.
• Contribute to the specification and testing of risk processes, reporting tools, and control mechanisms.
• Assist in assessing the risk implications of clearing new contracts and onboarding new members.

Candidate Requirements

• Prior experience in a financial institution, preferably within a central counterparty, investment bank, or broker.
• Familiarity with FX derivatives and/or interest rate products such as swaps, repos, and futures.
• Solid understanding of risk concepts, stress testing, and margining principles.
• Proficiency in using risk systems and data tools; experience with Murex (preferred).
• Strong analytical skills and attention to detail.
• Good communication and collaboration skills.
• Degree or equivalent experience in a quantitative or finance-related subject area (e.g., Mathematics, Economics, Finance).
• Exposure to programming or automation tools (e.g., Excel VBA, Python).
• Understanding of central clearing frameworks and risk standards.

Development and Growth

This role provides exposure to a wide range of risk activities and offers practical experience with cleared products in a regulated market infrastructure. The successful candidate will work closely with expert risk professionals and traders, gaining insight into the day-to-day risk management of a global clearing service. There will be opportunities to chip in to system improvements, new product initiatives, and operational improvements as the service evolves.

Inclusion and Accessibility

We are committed to building a diverse and inclusive workforce. LCH is proud to be an equal opportunity employer. We welcome applications from all qualified individuals regardless of background, identity, or ability.

If you require any reasonable adjustments during the recruitment process or on the job, please let us know, and we will do our best to accommodate your needs.

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership , Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone’s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs.

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About Us

LSEG (London Stock Exchange Group) is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth. Our culture of connecting, creating opportunity and delivering excellence shapes how we think, how we do things and how we help our people fulfil their potential.

Our organisation

Our Data & Analytics, Capital Markets and Post Trade divisions have a combined power that provides a comprehensive, integrated suite of trusted financial market infrastructure services to help our customers pursue their ambitions. Explore our divisions

Where we work

LSEG is headquartered in the United Kingdom, with significant operations in 70 countries across Europe, the Middle East, Africa, North America, Latin America and Asia Pacific. Find out more