Senior Associate, Risk Business Analyst

London Stock Exchange Group; City Of London; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A leading financial services organization is looking for a Senior Associate, Risk Business Analyst for their SwapClear team. This hybrid role demands strong analytical and problem-solving skills, focusing on delivering risk management solutions effectively. The ideal candidate will have expertise in risk frameworks, Agile methodologies, and data analysis, playing a key role in enhancing risk-related projects and contributing to significant process improvements.

Benefits

Tailored benefits and support

Career development opportunities

Focus on sustainability and community initiatives

Qualifications

• Solid understanding of Risk management and interest rate derivatives.
• Experience in financial functional testing is desirable.
• Ability to communicate effectively with various stakeholders.

Responsibilities

• Support risk-related change initiatives and project delivery.
• Collaborate with scrum teams on Agile methodologies.
• Promote continuous improvement in processes.

Skills

Risk management

Analytical skills

Data analysis

Agile methodologies

Strong mathematical skills

Tools

SQL

Advanced Excel

VBA

Murex

Python

Job description

Overview

Senior Associate, Risk Business Analyst - SwapClear at LCH Ltd, part of the London Stock Exchange Group. LCH Ltd is an international multi-asset class central counterparty clearing house (CCP) serving a broad range of exchanges and over-the-counter trading platforms with critical risk management services. The SwapClear & Listed Rates business is a flagship clearing service and a market leader in IRS Clearing. SwapClear clears ~9 million new trades per year and handles margin optimisations with substantial daily notional volumes.

This role is part of the SwapClear Risk Change team, delivering risk-related change initiatives. The candidate will support risk projects with domain expertise to enable end-to-end delivery of products and enhancements.

The role is hybrid with strong career development potential: three days per week in the office with flexibility on which days, except for one fixed day to support team collaboration.

Key responsibilities include supporting risk-related change delivery and providing risk domain guidance across the project lifecycle.

If you are ready to take your career to the next level and make a significant impact, we would love to hear from you.

Role Profile

This role is part of the SwapClear Risk Change team, responsible for delivering key risk-related change initiatives for the SwapClear service. The position involves supplying to risk projects and providing domain expertise to support the end-to-end delivery of products and enhancements. As a member of a dedicated scrum team, you will support the Product Owner in delivering risk-related items and be involved throughout the full project lifecycle—from functional and test design to validation and hands-on testing of deliverables.

A solid understanding of the Interest Rate Derivatives Risk framework and familiarity with the supporting technology landscape are essential. The role requires excellent analytical and problem-solving skills, with the ability to dissect complex problems, validate assumptions with evidence, and communicate findings clearly.

The ideal candidate will be proactive, solution-oriented, and focused on identifying inefficiencies and reducing manual effort through automation and process improvement. A focus on simplification, scalability, and continuous improvement is highly valued.

This position offers the opportunity to contribute to a wide range of SwapClear projects and develop deep business knowledge. Regular engagement with collaborators across Risk Management, Technology, Operations, and other teams at all levels of seniority is expected.

Keywords: collaboration, communication, and stakeholder engagement are important for success in this role.

Responsibilities & Deliverables

Requirements, Solution Design & Delivery

• Supply to Agile ceremonies (sprint planning, refinement, reviews, retrospectives) to support continuous delivery and iterative improvement.
• Design and document functional products by drafting user stories, test cases, and acceptance criteria aligned with Agile methodologies.
• Collaborate with the scrum team to design effective business and technology solutions addressing complex challenges.
• Analyze business requirements, including edge cases, risk constraints, and alignment with strategic objectives.
• Work with the Technical Lead to ensure proposed solutions are technically feasible and align with the existing architecture.
• Engage with Risk collaborators to ensure solutions adhere to current Risk framework and standards.
• Ensure solutions are resilient and incorporate appropriate risk controls.
• Evaluate risk impact of proposed changes through first-principles risk analysis.
• Promote continuous improvement by challenging the status quo and identifying multi-functional efficiencies to accelerate delivery and reduce project costs.
• Deliver timely and accurate analysis of risk analytics to support informed decision-making.

Governance

• Support the Risk team to write Risk governance when required for a given change.
• Contribute to design and governance artefacts such as Business Design Authority (BDA) and Operational Readiness Assessment (ORA) documents.

Testing & Quality Assurance

• Hands-on validation from functional and technical perspectives. Own successful functional testing and implementation.
• Design efficient testing by providing testing scenarios and risk validation prototypes when possible.
• Validate test coverage against requirements and ensure traceability.
• Provide oversight and support to QA for automated test validation and sign-off.
• Improve risk testing techniques and processes through automation where possible.
• Ensure cohesive delivery of functional and system testing; own issues and resolutions.
• Support Risk sign-off during go-live activities.

Collaborator Engagement & Communication

• Facilitate workshops, interviews, and walkthroughs to gather and validate requirements.
• Advise senior business stakeholders on approaches, implementation practicality, process improvement, and automation.
• Communicate expected Risk impacts to collaborators during design and implementation.
• Support change management activities including training and documentation.
• Communicate clearly with technology and business teams; ensure projects stay efficient and on track.
• Highlight risks and blockers to keep programmes on track.

Skills

• Functional Skills
  • Solid understanding of Risk management and interest rate derivatives:
    • Interest curve construction bootstrapping
    • Understanding of interest rate swaps, FRAs, payoff, pricing, and Risk calculations
    • Understanding of VAR calculation (desirable)
    • Strong mathematical skills
• Technical Skills
  • Data Analysis: acquire data from multiple sources to build reconciliations, create data reconciliation reports, analyze results to identify error causes, interpret trends to identify failures
  • Writing simple SQL queries to analyse Risk data
  • Advanced Excel knowledge (formulas & shortcuts); VBA knowledge desirable
  • Knowledge of vendor systems Murex and Python skills desirable
  • Awareness of programming concepts, APIs, and system integration principles
• Analytical & Problem-Solving Skills
  • Strong analytical and practical skills to evaluate complex problems; define problems and identify effective resolutions
  • Structured thinking to translate high-level product visions into detailed requirements and acceptance criteria
• Communication & Influence
  • Clear, precise communication tailored to different audiences; ability to influence outcomes
  • Experience communicating with internal and external collaborators
• Planning & Delivery
  • Plan, lead, and optimise resources to maximise results; own deliverables and timelines
• Testing & Automation
  • Manual and automated testing experience in financial functional testing
  • Design automated testing solutions leveraging in-house capabilities
  • Assess testing gaps from a business perspective
• Delivery & Methodology Skills
  • Familiarity with Agile and Scrum; writing clear user stories with detailed requirements, tests, prototypes, and acceptance criteria
  • Understanding of full project lifecycle and technology development lifecycles

Join us and be part of a team that values innovation, quality, and continuous improvement. If you're ready to take your career to the next level and make a significant impact, we'd love to hear from you.

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 values are Integrity, Partnership, Excellence, and Change. We are an equal opportunities employer and committed to sustainability and community initiatives, including the LSEG Foundation. LSEG offers a range of tailored benefits and support.

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