Sr. Derivatives, Risk & Front Office Product Manager

Clearwater Analytics; New York (NY); On-site; USD 179,000 - 243,000; Full time

Benefits offered by this job

Health/vision/dental insurance

401(k)

PTO

Parental leave

Medical leave

STD/LTD insurance benefits

Job summary

Clearwater Analytics seeks a Senior Derivatives Product Manager (Front & Middle Office) to own the product strategy for our derivatives workflows. You will define end-to-end processes connecting trading, valuation, margin, settlement, accounting, and reporting, translating client needs into actionable requirements for engineering.

You will partner with clients and internal teams to iterate on features and ensure adoption.

Qualifications

• 8+ years of product management in front or middle office derivatives technology/operations.
• Strong understanding of derivative instruments and lifecycle events.
• Experience translating business workflows into detailed product requirements.

Responsibilities

• Own the derivative front/middle office product roadmap from ideation to delivery and adoption.
• Design end-to-end derivative workflows linking trade capture, valuation, exposure, margin, settlement, accounting, and reporting.
• Translate market, regulatory, and client requirements into clear product requirements, data needs, user stories, and acceptance criteria for engineering.
• Prioritize backlog based on client impact, revenue, regulatory urgency, and feasibility.
• Represent the product in client-facing settings and partner with sales and client services to address workflow pain points.

Skills

Derivatives product management

Front & middle office

Agile product development

Stakeholder communication

Client engagement

Requirements gathering

Data requirements

Cross-functional collaboration

Education

Bachelor's degree in Finance/Economics/Engineering/CS

Advanced degree / CFA / FRM a plus

Tools

OMS/EMS systems

Risk platforms

Portfolio accounting systems

Collateral/Reconciliation tools

Job description

Clearwater Analytics is seeking a Senior Derivatives, Product Manager (Front & Middle Office) to own and evolve the product strategy for our front and middle office derivatives capabilities. This role sits at the intersection of investment operations, risk management, and technology. You will define how derivative workflows, data, and events connect across trading, valuation, exposure, margin, settlement, accounting, and reporting, and translate that operating model knowledge into product requirements that help institutional clients manage derivative portfolios with confidence. You will work closely with engineering, design, sales, and clients to design and build these workflows. This is a functional workflow and product role. It does not require building pricing models or independently calculating valuations, risk metrics, or margin. Quant and data teams own those calculations; you will own how their outputs flow through and are used in the product.

What You’ll Do:

Own the product roadmap for derivative front and middle office workflows, from ideation through delivery and adoption. Design end to end derivative workflows that connect trade capture, lifecycle events, valuation, exposure, margin and collateral, settlement, accounting and position records, reporting, and reconciliation. Translate market, regulatory, and client requirements into detailed product requirements, data requirements, process flows, user stories, and acceptance criteria for engineering teams. Define how derivative data and events move between systems, including trades, valuations, market data, cash flows, collateral, and counterparty agreement data, and how downstream functions such as accounting, general ledger, performance, risk, and regulatory reporting consume them. Partner with clients, sales, and client services to understand workflow pain points across trading, middle office, operations, risk, and portfolio management functions. Define requirements for how valuations, sensitivities, and risk outputs are consumed within workflows, partnering with data and quant teams who own the models and calculations. Prioritize the backlog based on client impact, revenue opportunity, regulatory urgency, and technical feasibility. Act as the subject matter expert on the derivatives operating model and workflows for internal stakeholders, including sales enablement and marketing. Monitor industry trends, competitor offerings, and regulatory developments (e.g., margin rules, reporting mandates) that affect derivative workflows and products. Define and track success metrics for shipped features, iterating based on client feedback and usage data. Represent the product in client-facing settings, including advisory boards, demos, and requirements-gathering sessions.

What You’ll Bring:

8+ years of experience in product management, front or middle office derivatives technology, derivatives operations, or implementation and solution design within financial services, asset management, or fintech. Strong working knowledge of derivative instruments (swaps, futures, options, forwards, structured products) and their lifecycle events, including amendments, resets, settlements, terminations, and novation’s. Understanding of the front to middle office derivative operating model: how trades, valuations, exposures, margin and collateral calls, cash flows, settlements, and accounting records connect and are reconciled. We value functional workflow and product knowledge across this chain over deep expertise in any single area. Familiarity with counterparty and agreement concepts such as ISDA agreements, CSAs, and netting sets, and how they drive downstream processing. Working understanding of how valuations, market data, sensitivities, and risk metrics (e.g., VaR, stress testing, scenario analysis) are generated and consumed by downstream processes. You do not need to build or independently calculate them. Experience working with front or middle office systems (OMS/EMS, risk platforms, portfolio accounting, collateral or reconciliation tools, or similar). Proven ability to translate business workflows into clear product requirements, data requirements, user stories, process flows, and acceptance criteria. Track record of managing a product roadmap and collaborating effectively with engineering and design teams in an agile environment. Excellent communication skills, with experience presenting to both technical and non-technical stakeholders, including clients. Bachelor's degree in Finance, Economics, Engineering, Computer Science, or related field; advanced degree, CFA, or FRM a plus. Prior experience at an asset manager, insurance company, bank, or investment technology provider is strongly preferred.

Salary Range $179,400.00 - $243,136.45 This is the pay range the Company believes it will pay for this position at the time of this posting. Consistent with applicable law, compensation will be determined based on relevant experience, other job-related qualifications/skills, and geographic location (to account for comparative cost of living). The Company reserves the right to modify this pay range at any time.

• health/vision/dental insurance
• 401(k)
• PTO
• parental leave
• medical leave
• STD/LTD insurance benefits

Clearwater Analytics is An Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status, age or any other federally protected class.

Thank you for your interest in a career with Clearwater! Clearwater Analytics (NYSE: CWAN) is transforming investment management with the industry’s most comprehensive cloud-native platform for institutional investors across global public and private markets. While legacy systems create risk, inefficiency, and data fragmentation, Clearwater’s single-instance, multi-tenant architecture delivers real-time data and AI-driven insights throughout the investment lifecycle. The platform eliminates information silos by integrating portfolio management, trading, investment accounting, reconciliation, regulatory reporting, performance, compliance, and risk analytics in one unified system. Serving leading insurers, asset managers, hedge funds, banks, corporations, and governments, Clearwater supports over $8.8 trillion in assets globally. Learn more at www.clearwateranalytics.com.

Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. We are dedicated to building a diverse, inclusive and authentic workplace, so if you’re excited about this role but your past experience doesn’t align perfectly with the job description, we encourage you to still apply! You may be just what we're looking for.