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SwapAgent Operations, Senior Associate

London Stock Exchange Group
London, United Kingdom
Closing date
Apr 19, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
SwapAgent launched in 2017 designed to simplify the processing, margining and settlement of non-cleared derivatives. It offers simplification and standardisation of the collateralisation and settlement process as well as the elimination of unnecessary payment flows such as netting coupons and variation margin.

The scope of the role covers a range of functions including confirmations, settlement and reconciliations of SwapAgent daily movements. Onboarding, set up and testing of new SwapAgent members and accounts.

In addition to monitoring the health and integrity of the SwapAgent service, the role requires individuals to lead and oversee market-wide portfolio maintenance and life-cycle events. The role is a highly visible one, working closely with Risk, Technology support functions and the wider Business (Sales, Product, PMO, COO), and will also require working closely with external stakeholders such as members, clients and trade venues. The team is the single point of contact/first level of escalation for external stakeholders and has the ultimate responsibility of ensuring a positive experience at SwapAgent. The role requires individuals to work closely with all internal and external stakeholders to ensure queries and issues are followed through to resolution. There are significant growth opportunities for the business and as such the role would suit a highly motivated individual who is keen to work in a dynamic environment.

The successful candidate must be keen to learn and be able to communicate in a clear, concise and confident manner and must work well under pressure. The candidate will work to tight timeframes and interact with a number of teams across Change, Product and Operations. Strong organisational skills and ability to use initiative to problem solve are therefore required.


Willingness to learn intricate details and formatting of SWIFT messages and payment infrastructures. MT202, MT210, MT910, MT900

Understanding of correspondent banking networks and cover funds/cross border payments preferred

Able to work through entire payment flows from remitting bank, cash correspondent bank to recipient bank in order to resolve any issues. Training will be provided.

Able to conduct UAT for new payment methodologies as and when required be that regulatory or for a new product/offering.

Member Onboarding and Account Set Up

Speaking directly with members to guide them through the onboarding process

Providing updates to internal teams as to the status of a member's onboarding

Speaking directly to cash settlement banks and arranging testing of new CSB accounts

Managing internal set up of accounts with static data team

Pay In/Pay Out Management

To action the timely collection of payments and receipts, escalating delays, late payments and issues with cash-flow as per procedures.

Oversight and monitoring of cash flows

Investigation and escalation of delayed Pay In's or cash breaks

Investigate settlement issues and resolve through accordingly


Monitoring and sweeping of cash across internal accounts for fees

Reconciliations of member balances and nostro accounts

Investigation and escalation of failed trades or reconciliation breaks

Member/Client Queries

Ongoing Interaction with members, handling queries, resolving issues and escalating when required every day to ensure funding requirements are met

Communication via email, phone and face-to-face interaction with members

Managing queries in a timely manner

Providing new members with training surrounding their reporting during onboarding


Oversee operational processes such as trade receipt, event management, margin runs, backloading cycles and start of day batch process.

Use MS Excel to streamline processes and implement tactical solutions to enhance the control framework.

Execute post trade life cycle events such as portfolio transfers and compression activity.

Communication/Presentation Skills

Liaise with key stakeholders (both written and oral) to ensure member/ client/ trade source and exchange queries are resolved in a timely fashion.

Opportunity to host Webex demos for member/client training requests as required.

IT systems/applications

Proactively monitor the performance of the environments and work with IT to facilitate issue resolution, analyse root causes of problems and communicate with members regarding issues and system outages.

Participate in relevant Smoke Testing and quality gate exercises ahead of SwapAgent releases in preparation for support of Member Test

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership , Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone's race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs.

Please take a moment to read this privacy notice carefully, as it describes what personal information London Stock Exchange Group (LSEG) (we) may hold about you, what it's used for, and how it's obtained, your rights and how to contact us as a data subject .

If you are submitting as a Recruitment Agency Partner, it is essential and your responsibility to ensure that candidates applying to LSEG are aware of this privacy notice.

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