Trade Operations Analyst

Trade Operations Analyst

The Trade Operations Group provides comprehensive, front-to-back operational support for the Financial Risk Management practice. Spanning middle- and back-office functions, the department is responsible for the end-to-end integrity of complex derivatives portfolios across our Hedge Outsourcing and Fund Services business lines.

We serve as the essential link between trade execution and financial reporting, ensuring that every transaction is captured, collateralized, reconciled, accurately accounted for, and communicated to all relevant internal and external stakeholders.

The Trade Operations Analyst supports the end-to-end operational integrity of our clients' portfolios. Acting as a core member of the "front-to-back" operations team, this role focuses on the daily execution of trade lifecycles, cash management, and data integrity. This is an ideal role for a high-potential professional with a strong interest in derivatives and financial technology who is eager to build a career at the intersection of trading and institutional accounting.

Your Responsibilities:

Daily Operations & Data Integrity:

• Trade Support: Execute daily trade capture and affirmation workflows, ensuring all trade economics are accurately reflected across internal and external systems.
• Reconciliation: Perform daily intraday and T+1 reconciliations of trade data, cash balances, and positions. Investigate and resolve basic breaks, escalating complex discrepancies to senior team members.
• Settlement Support: Monitor the clearing and settlement process for diverse asset classes (Futures, Options, OTC Derivatives) to ensure timely fulfillment of market obligations.

Treasury & Collateral Administration:

• Cash/Margin Monitoring: Assist in monitoring intraday account balances and margin requirements to ensure portfolios remain adequately funded.
• Settlement/margin Execution: Support the movement of cash and collateral; help prepare margin call responses and facilitate transfers between clients, custodians, and counterparties.
• Counterparty Interaction: Assist in daily communications with banks, custodians, and clients to resolve standard operational inquiries.

Reporting & Documentation:

• Client Deliverables: Generate and distribute standard reports for clients and third-party service providers.
• Agreement Maintenance: Support the administration of the firm's digital repository for ISDA/CSA, ACA, and MCA documents, assisting in the data entry of key operational terms into internal systems.
• Audit Preparation: Assist senior team members in gathering documentation for annual audits and regulatory filings.

Technical Maintenance & Optimization:

• Data Extraction: Run pre-defined SQL queries and Python scripts to extract position and transaction data for routine reporting and troubleshooting.
• Macro Maintenance: Run and perform basic troubleshooting for existing VBA macros and Python scripts used in the daily workflow.
• Process Documentation: Assist in updating standard operating procedure documentation as workflows evolve.

Job Knowledge, Experience Skills:

Job Knowledge Required:

• Education: Bachelor's degree in Finance, Economics, Accounting, or a related field.
• A strong desire to pursue, or current enrollment in, industry recognized, professional certification programs (CFA, FRM) or a post graduate degree (preferred).
• Market Exposure: Basic understanding of the lifecycle of financial instruments, with a specific interest in derivatives (swaps, futures, options) and fixed income.
• Treasury Basics: Foundational knowledge of how cash and securities move through the banking system and the general purpose of margin and collateral.
• Documentation Awareness: Familiarity with the names and purposes of industry-standard documents like the ISDA Master Agreement and CSA.

Experience and Soft Skills Required:

• Experience: 14 years of professional experience in financial services, ideally within investment operations, treasury, or fund accounting.
• Excel Proficiency: High degree of comfort with Excel.
• Technical Aptitude: Strong desire to develop SQL, Python, and/or VBA skills. Basic exposure to SQL, Python, and/or VBA (preferred).
• Exposure to institutional post-trade vendor systems (e.g., triResolve, AutoRek, DTCC ITP, Acadia, or similar) (preferred).
• Analytical Mindset: A "detective" mentalitythe ability to look at two sets of data and identify why they don't match.
• Communication: Clear and professional written and verbal communication skills for interaction with internal teams and external partners.
• Critical Thinking: Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas.

Location:

Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered.

The expected application deadline for this job is March 31, 2026.

Compensation:

The salary range for this role is $68,080 - $109,020, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

Benefits:

We offer a comprehensive benefits package designed to support employees' health, financial security, and well-being. Benefits include:

• Medical, Dental and Vision Coverage for employees, dependents, and domestic partners.
• Employee Assistance Program (EAP) Confidential support for personal and work-related challenges.
• 401(k) Plan Includes a company matching program and profit-sharing contributions.
• Discretionary Bonus Program Recognizing employee contributions.
• Flexible Spending Accounts (FSA) Pre-tax savings for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis.
• Holidays A minimum of 10 paid holidays per year.
• Family Building Benefits Includes adoption and fertility assistance.
• Paid Parental Leave Up to 12 weeks of paid leave for employees who meet eligibility criteria.
• Life Insurance & AD&D 100% of premiums covered by Milliman.
• Short-Term and Long-Term Disability Fully paid by Milliman.

Equal Opportunity:

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.