Market Data Analyst (459E6A7)

Referment; Greater London; Hybrid; GBP 55,000 - 85,000; Full time

Job summary

Referment is partnering with a London-based fintech that provides specialist credit data and analytics to major institutions. The role sits in the market data team responsible for pricing integrity and automated checks across bond and loan data.

You will review pricing feeds, identify anomalies, and build scalable validation algorithms, working closely with product and engineering while engaging with top investment firms. Hybrid, permanent, in London.

Qualifications

• Experience in evaluated pricing, IPV, fixed income valuations or trade support, or credit fund NAV pricing.
• Strong familiarity with bond and loan reference data syntax and pricing feed structures; understanding pricing conventions (clean vs dirty price, accrued interest, day count).
• Advanced Excel or Google Sheets skills, including macros or Apps Script; Python, SQL or similar coding experience.

Responsibilities

• Review pricing feeds from a third-party pricing provider against internal benchmarks, investigating anomalies.
• Sift through large bond and loan price and reference datasets to identify, prioritise and resolve outliers; trace capital structures and inter-company relationships.
• Calculate and validate bond and loan pricing data at scale from YTM, YTW, z-spread to Macaulay and modified duration and PV01.
• Build automated algorithms to reduce manual reviews and document recurring data quality issues to pricing vendor and internal stakeholders.
• Answer client questions about data and product functionality, working directly with leading investment firms.

Skills

Evaluated pricing

IPV (Independent Price Verification)

Fixed income valuations

Excel macros / Apps Script

Tools

Excel

Google Sheets

Python

SQL

Job description

Referment is working with a London-based financial technology company that supplies specialist credit data and analytics to some of the world's largest investment banks, asset managers and hedge funds. Its platform automatically structures bond and loan data across thousands of issuers in the US, Europe and emerging markets, giving credit teams auditable fundamentals on demand.

They are growing the market data team that owns the integrity of the bond and loan pricing and reference data behind their global credit product. As their new market data analyst, you will sit between the product and engineering teams, making sure the pricing data clients receive is right and building the automated checks that keep it right.

The Role

• Review pricing feeds from a third-party pricing provider against internal benchmarks, investigating anomalies rather than accepting them.
• Sift through large bond and loan price and reference datasets to identify, prioritise and resolve outliers, including tracing capital structures and inter-company relationships to keep aggregate-level data sound.
• Calculate and validate bond and loan pricing data at scale, from YTM, YTW and z-spread to Macaulay and modified duration and PV01.
• Build automated algorithms that reduce manual reviews and checks, and document or escape recurring data quality issues to the pricing vendor and internal stakeholders.
• Answer client questions about data and product functionality, working directly with leading investment firms.

What We're Looking For

• Experience in evaluated pricing, independent price verification (IPV), fixed income valuations or trade support, or credit fund NAV pricing, for example as an investment bank IPV or vendor-side pricing analyst.
• Strong familiarity with bond and loan reference data syntax and pricing feed structures, and command of pricing conventions (clean versus dirty price, accrued interest, day count) so you can sanity-check a price against its fundamentals.
• Advanced Excel or Google Sheets skills, including complex spreadsheets with macros or Apps Script; Python, SQL or similar coding experience is a plus.
• A demonstrated ability to work through large, messy datasets to find the one wrong number that everyone else's process missed.
• A strong academic track record and sharp analytical and quantitative reasoning; an understanding of simple and complex corporate capital structures is useful.

This could suit an IPV, evaluated pricing or fixed income operations analyst at a large bank or data vendor who wants more ownership, a faster pace and the chance to automate the checks they currently run by hand. The role is permanent, full time and hybrid, based in London, with remote working flexibility offered by the company.

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