Senior Associate, CDSClear-Middle Office

London Stock Exchange Group•New York City, NY

1d•Onsite

About The Position

This role provides accountable operational coverage during US market hours for CDSClear, ensuring continuity of the clearing service across time zones and supporting the follow-the-sun operating model through structured handovers with Paris. The role covers the management of key operational activities during US market hours, including daily operational trade management, member and client support, end-of-day process management, and additional clearing services support. It also involves project and testing activities when required. CDSClear is a credit derivatives clearing service within LCH SA, established through a partnership with major market participants, and has experienced significant growth with a key initiative to extend operating hours for the US market.

Requirements

Degree or equivalent qualification.
Strong experience in an operations role within financial services; exposure to clearing operations and OTC derivatives preferred.
Good understanding of Credit Derivatives markets and products (CDS indices/single names) and credit events, ideally with previous Middle-Office or Back-Office experience within a financial institution.
Knowledge of financial services industry rules and regulations; familiarity with US market practices and regulatory requirements is a plus.
Degree (or equivalent) and 3-5 years' experience in a financial services operations environment (clearing/OTC derivatives exposure is a plus).
Good understanding of Credit Derivatives products and trade lifecycle events (e.g., novation, credit events, compression) and comfort working on production and test environments.
Control mindset: ability to run controls, keep evidence/audit trails, and operate within policies and procedures.
Strong client/service orientation and clear communication skills (English required; French is a plus for Paris handover).
Ability to take ownership, work under pressure, and collaborate across teams and time zones.
Basic UAT/testing literacy (able to follow test plans, execute scenarios, and report results) is a plus.
Solid understanding of SQL.

Nice To Haves

Exposure to clearing operations and OTC derivatives preferred.
Previous Middle-Office or Back-Office experience within a financial institution.
Familiarity with US market practices and regulatory requirements is a plus.
French is a plus for Paris handover.
Basic UAT/testing literacy (able to follow test plans, execute scenarios, and report results) is a plus.

Responsibilities

Daily operational trade management: monitoring and processing of all events impacting trades (novation, credit events, succession events, compression, transfers and default-related activity where applicable); trade flow monitoring and rejected trade management; margin call monitoring and margin simulations; support for increased volumes through backloading and intraday clearing; option exercise management.
Member and client support: assist US clients with day-to-day clearing operations; manage member requests through Service Cloud; incident management including identification, critical issue and resolution during US hours.
End of Day (EOD) process management: closing checks for the clearing session; batch process triggering and monitoring; EOD reports monitoring and daily statistics publication; US credit event set-up and processing (as applicable); US cross trades monitoring; investment trades oversight (as applicable); handover coordination with Paris.
Additional clearing services support (as applicable): contribution to operational coverage on other clearing services during US market hours or extended coverage, including trade flow monitoring, handling of member and client queries, support to end‑of‑day clearing session closure and related operational checks and monitoring.
Project and testing activities (when required): contribute to operational requirements; define and implement test scenarios and test cases; support end-to-end testing of the clearing chain for new releases and enhancements.
Develop and maintain a strong operational control environment; perform daily/weekly/ad-hoc controls and ensure timely remediation of exceptions and issues.
Ensure adherence to benchmarks, agreed contracts, and internal requirements across operational activities.
Support regulatory reconciliations and compliance activities relevant to the US coverage scope (as applicable).
Maintain complete documentation of operational procedures, checklists, user guides and audit trails; preserve clear evidence of actions taken during incidents.
Contribute to Disaster Recovery and Business Continuity arrangements for Operations (readiness, runbooks and implementation activities as required).
Build and maintain strong relationships with business partners and market infrastructures (e.g., DTCC/TradeServ, Bloomberg, Tradeweb, Markit/PTTR) to support day-to-day service delivery and issue resolution.
Ensure smooth, structured handover of the production service between Paris and New York operations teams to maintain continuity of service.
Work collaboratively with Technology, Risk, PMO and other internal collaborators to resolve incidents and support operational readiness for releases.
Maintain effective communication with members and clients during US business hours, including incident communications where required.
Support operational onboarding activities when required (set-up coordination, readiness checks, and operational runbooks).
Apply expertise to resolve complex and raised operational issues accurately and in a timely manner; take ownership of production issues during US hours and raise appropriately.
Deliver daily operational trade management and processing across the trade lifecycle (novation, credit events, succession events, compression, transfers, default-related activity where applicable).
Monitor trade flows and manage rejected trades; perform margin monitoring and margin simulations; support backloading and intraday clearing; manage option exercises.
Implement US EOD processes: closing checks, batch triggering/monitoring, EOD report monitoring, daily statistics publication; support US credit event set-up/processing and other US coverage tasks as applicable.
Support implementation of new clearing releases on test and production environments; coordinate with application support, network and development teams to resolve technical issues.
Contribute to UAT/testing when required: test plans, scenarios, test cases and regression coverage; support end-to-end testing of the clearing chain.
Drive continuous improvement in operational efficiencies, controls and tools to enhance day-to-day activities and reduce operational risk.
Capture and articulate operational requirements for product/service developments; partner with internal teams to explore and implement operational configurations.
Assess feasibility, impact and operational requirements of proposals; contribute to implementation planning and post-implementation reviews.
Adapt operational procedures to changing market and regulatory requirements and ensure operational needs are captured for production monitoring.