Our client is hiring a Product Development Analyst on a long-term contract basis.
Work Location: New York, New York
Work Model: On-Site
Summary:
This role is supporting OTC Clearing. The U.S. Securities and Exchange Commission (SEC) has adopted rules (Treasury Clearing Rules) that will require the central clearing of certain cash U.S. Treasury security transactions and U.S. Treasury repos by the end of 2026. As part of the OTC Clearing Product Development team, the purpose of the role is to deliver implementation of US Treasury clearing product offering in the bank.
Responsibilities:
- Participate in front to back product design and implementation.
- Document, track and report on the front to back product launch or release plan on a weekly basis.
- Support the Operating Model design for each functional and product release to ensure all impacted parties fully understand their role in the process.
- Ensure the front office Client Solutions operating model and process design is fully supported through training and testing.
- Support sales and client onboarding with SME knowledge.
- Support regulatory reporting change delivery.
- Work closely with front to back stakeholders (including external parties like Clearing house, as well as internal departments – finance, accounting, Risk, IT) to agree on the specification, timing and delivery of cross functional services.
- Work with front to back stakeholders to ensure there is a mutual understanding of what is required to be delivered and when.
- Ensure appropriate operating controls are put in place prior to go live, including such areas as reconciliations, etc.
- Delivery of product changes on target.
- Product changes are fully tested front to back and signed off meeting testing standards.
- Client Solutions and other functional teams fully understand and can deliver the processes from release.
- All functional process owners are aware of the role they need to play in the product delivery, have clear plans to deliver, and deliver on schedule.
- Ensure the resultant front to back stakeholders are clear on what they need to deliver and when.
- Drive consensus on build work needed.
- Work with various stakeholders both internal (Finance, Accounting, IT, Legal, Operations, Capital policy etc) and external (Clearing house, vendors) in order to implement FICC Agency clearing of US repos and treasuries product offering in OTC Client Clearing business.
- Be aware of the Operational Risk scenario associated with the role and act in a manner that takes account of operational risk considerations.
- Maintain internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy.
Required Qualifications:
- Strong business analysis and project management skills, stakeholder management.
- Demonstrable project planning and management skills through delivery examples.
- Good understanding of Risk models for banks and Risk management focusing on counterparty credit risk in clearing.
- Ability to interpret accounting and capital regulatory reporting policies and implement them in the bank.
- English – Essential strong spoken and written.
- Good understanding of CRR (Capital requirement regulation), Basel III international standards with US specific modifications, US regulatory capital requirements for the FCM/Agency clearing, IFRS, US GAAP, Liquidity requirements for the bank.
- 7-10+ years of experience.
- Prior experience delivering projects in large financial institutions related to US regulatory capital requirements, finance, accounting, risk.
- Background in US treasuries, Repo and clearing.
- Up to date on changing regulatory changes on similar projects in a different investment bank on a similar project.
- Self-starter with the ability to hit the ground running and meet regulatory deadlines.
- Experience supporting various business partners and external connections.
- Ability to work standard core hours (8am to 5pm EST, Monday – Friday) with flexibility to support earlier from home as needed.
Pay Rate: $80 – $88
Job ID: 84065