Derivative Operations Senior Analyst

Legal & General (L&G) is a leading UK financial services group and major global investor.

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Asset Management is one of Europe’s largest asset managers, providing clients and partners with complex, responsible investment solutions, across public and private markets. As a global investor, we are present where our clients most need us – from Hong Kong and Singapore, to Chicago and major European financial hubs.

Created by combining our investment management (LGIM) and asset origination (LGC) capabilities, our Asset Management division works with our Institutional Retirement and Retail divisions to benefit our clients and customers – which include individual savers, pension scheme members and global institutions – and deliver enhanced shareholder returns.

Joining us means becoming part of a market-leading team, with capabilities across the full spectrum of asset classes, with an enduring commitment to responsible investment and creating long-term, sustainable value for our clients and partners.

We’re recruiting for a Derivative Operations Senior Analyst to join our Derivative Operations function, which ensures all retained services (incl. Derivative Trade Processing and Securities Lending) and outsourced activities is effective managed and processed accordance with market deadlines and industry best practise, ensuring adherence to regulatory requirements and quality control.

In this role you will complete all retained derivative operations activities (covering Derivatives Trade Processing (ETD, OTC Bilateral & Cleared & Securities Lending)) in line with internal and external market deadlines, policies, procedures and controls in conjunction with outsourced service provider to support L&G Asset Management's global trading activities and client service delivery. 

What you’ll be doing:

• Completing daily derivative operations tasks (e.g., trade processing, securities lending) in line with market and regulatory deadlines
• Collaborating with internal stakeholders, outsourced providers, and third parties to manage asset services activities effectively
• Monitoring service delivery KPIs/KRIs and escalating issues promptly to ensure service standards are met
• Investigating and resolving operational queries and inconsistencies, while reporting issues to supervisors in a timely manner
• Identifying control weaknesses and implementing process improvements in partnership with team members and service providers
• Creating and maintaining procedures and workflows that support both retained and outsourced asset services
• Managing operational risks and ensuring compliance with policies and regulatory requirements, while communicating with senior management
• Engaging with service recipients and vendors, participating in forums, and driving continuous improvement in the outsourced service model

Who we’re looking for:

• Demonstrable asset management experience and deep knowledge of OTC derivatives, including swaps and equity options
• Completing daily securities lending tasks such as counterparty management, collateral validation, and income recovery in line with regulations
• Calculating and settling complex OTC cashflows, including resets, coupons, and trade events like unwinds, novations, porting and buy-in & buy-outs
• Implementing system and product data improvements while leveraging market systems knowledge (e.g., EMIR, MiFID, SWIFT)
• Managing outsourced service delivery and third-party relationships, while ensuring compliance with client expectations and regulatory standards
• Adapting to change, multitasking under pressure, and meeting strict deadlines and service levels
• Experience using OSTTRA and Markit systems preferrable 
• Continuing professional development and contributing to strategic improvements through collaboration and industry awareness

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday
• Competitive family leave
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only)
• There are the many discounts we offer – both for our own products and at a range of high street stores and online
• In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. 

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can. 

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.