US Treasuries Consulting Manager

About Cognizant Consulting

Cognizant Consulting is more than Cognizant’s consulting practice—we’re a global community of 5,000+ experts dedicated to helping clients reimagine their business. Blending our deep industry and technology advisory capability, we create innovative business solutions for Fortune 500 clients. And now, we’re looking for our next colleague who’ll join us in shaping the future of business. Could it be you?

As a Manager
- Business Analyst – US Treasuries
, you will make an impact by leading front-to-back analysis across US Treasury clearing workflows, ensuring complete alignment between business, operations, and technology stakeholders. You will be a valued member of our Capital Markets Consulting team and will collaborate with product, technology, and operations partners across the client organization. You will conduct analysis‑back analysis across US Treasury clearing workflows, ensuring complete alignment between business, operations, and technology stakeholders.

You will be a valued member of our Capital Markets Consulting team and will collaborate with product, technology, and operations partners across the client organization.

• Lead front-to-back analysis for US Treasury cash, repo, and reverse repo clearing, including trade capture, novation, netting, settlement, and margin workflows.
  
  Analysis for US Treasury cash, repo, and
  -back analysis for US Treasury cash, repo, and reverse repo-repo clearing, including trade capture, novation, netting, settlement, and margin workflows.
• Define and document detailed target operating models
  , business requirements, and end-to-end process flows for Agent Clearing and Sponsored Clearing models.
  
  End‑to‑end process flows for
• Conduct structured analysis across clearing processes, producing high quality requirements, documentation and process maps. Quality requirements documentation and process maps.
• Collaborate with Product, Capital Markets Technology, and Operations teams to ensure alignment on functional and technical design.
• Support design and working group discussions with clearing participants (e.g., FICC), internal stakeholders, and vendor partners, contributing to testing strategy, requirements traceability, and readiness activities.
  
  Group discussions with clearing participants (e.g., FICC), internal stakeholders, and vendor partners, contributing to testing strategy, requirements traceability, and readiness activities.

We strive to provide flexibility wherever possible. Based on this role’s business requirements, this is a hybrid position requiring time onsite with client stakeholders 3 days onsite per week at the client office in Chicago, IL. Regardless of your working arrangement, we are here to support a healthy work-life balance though our various wellbeing programs. The working arrangements for this role are accurate as of the date of posting and may change based on project and business needs.

• 5–10 years of Business Analysis experience in Capital Markets, specifically within US Treasuries
  .
• Strong working knowledge of:
  • FICC / DTCC clearing
  • Repo & Reverse Repo workflows (cash & collateral)
  • Agent Clearing and Sponsored Clearing models
• Demonstrated ability to deliver structured process flows
  , detailed requirements, and comprehensive front-to-back analysis
• Excellent communication skills with proven ability to partner across business, operations, and technology teams.

• Experience collaborating with clearing participants (e.g., FICC) and third‑party vendor partners.
• Familiarity with testing strategies, requirements traceability, and readiness planning.
• Ability to operate in fast paced, high‑stake environments with multiple stakeholders. Fast-paced, high‑stake environments with multiple stakeholders.
  
  Fast-paced, high‑stake‑stake environments with multiple stakeholders.

We're excited to meet people who share our mission and can make an impact in a variety of ways. Don’t hesitate to apply, even if you only meet the minimum requirements. Think about your transferable experiences and unique skills that make you stand out.

$110,000 – $158,500

o This position is eligible for Cognizant’s discretionary annual incentive program, based on performance and subject to the terms of Cognizant’s applicable plans

• Medical, dental, vision and life insurance
• 401(k) plan and contributions
• Employee stock purchase plan
• Employee assistance program
• 10 paid holidays plus PTO
• Paid parental leave and fertility assistance
• Learning and development certifications and programs

Applications will be accepted until 2/21/2026