Senior Business/System Analyst - Capital Markets Technology (OTC Derivatives | Trade Processing)

We're hiring a Senior Business Analyst to join a high-impact, globally distributed team at a top-tier global bank — working on one of the most critical components in the entire Financial Markets technology stack. Every single trade booked by the bank — FX, Rates, Derivatives, ETD, Credit — flows through this system. You won't be working on the periphery. You'll be at the centre of it. The bank is executing a large-scale FM re-platforming programme, migrating away from legacy trade processing systems into a fully in-house built, strategic Front-to-Back technology stack. This is a hybrid profile: ~60% Business Analysis, ~40% System & Technical Analysis. You'll be expected to gather and translate business requirements — but also get into the detail of system design, data modelling, and architecture discussions. You need to be someone who can sit in a design call with developers and architects, defend a solution, push back when something won't work, and know why. Day-to-day you will: Gather requirements from traders, Middle Office, and product owners globally Translate business needs into detailed functional and system specifications (UML, BPML, logical data models) Own the onboarding of new products and lifecycle events onto the platform Participate in sprint planning, retrospectives, and design authority meetings Write and review test cases; support UAT end-to-end Handle ad-hoc stakeholder queries — including live incident support with trading desks Identify and manage project risks early; communicate to programme leads Work within a pod setup (BA + Dev + QA) as a de facto mini product owner What You'll Need Domain Knowledge — Essential: 7+ years as a Business Analyst in trade booking or trade processing , Front Office environment Deep understanding of trade lifecycle events : booking, confirmation, settlement, novation, termination, compression, allocation, fixing/coupon payments Strong product knowledge across at least one complex asset class — Rates (IRS, XCCY, FRA, Swaptions) or FX (Spot, Forward, Swap, Options) Solid grasp of the full FO → MO → BO flow : trading, P&L, market risk, operations, regulatory reporting Experience on an FM transformation or re-platforming programme (migration from legacy systems such as Murex, Calypso, Kondor, Summit) Familiarity with ISDA FpML and CDM standards — in a real project context, not just on paper Domain Knowledge — Advantageous: Credit derivatives (CDS), ETD, structured or exotic products Understanding of market risk concepts: sensitivities (Delta, Gamma, DV01, Vega), Mark-to-Market, VaR Exposure to electronic trading infrastructure: FIX protocol, EMS/OMS systems, MiFID II/EMIR reporting Technical Skills: Ability to produce high-quality functional specifications and system design documentation Comfortable with logical/physical data modelling and API concepts Experience working directly with developers — not just handing over requirements UML / BPML notation (strong plus) Soft Skills: Assertive and confident in cross-team design discussions Strong communicator in high-pressure situations (trading desk incidents, senior stakeholders) Proactive, independent, detail-oriented Fluent English — written and spoken