ForexClear Senior Risk Analyst

Role Overview

LCH’s Forex Clear division is looking for a Senior Risk Analyst to support the day‑to‑day risk management of our OTC foreign exchange clearing service. The role focuses on monitoring exposures, supporting margin and stress‑testing processes, and contributing to default management readiness.

The successful candidate will also have opportunities to support new product risk assessments and process enhancements, contributing to the ongoing development of risk capabilities at Forex Clear.

• Escalate daily risk exposures and produce regular reports highlighting material risk drivers.
• Lead end‑of‑day exposure assessments, including pre‑close checks and margin impact analysis.
• Validate data inputs and pricing models used in risk calculations and margin processes.
• Support the review and back‑testing of risk models to ensure alignment with market behaviour.
• Ensure consistent application of risk policies and contribute to periodic reviews of risk processes.

• Maintain and update stress‑testing scenarios to reflect relevant market risks.
• Evaluate the impact of market stress on member exposures and assess Default Fund adequacy.
• Ensure inclusion of new products and scenarios within the stress‑testing framework, as appropriate.

• Assist with the execution of default management drills and contribute to post‑event analysis.
• Support interactions with clearing members involved in the Default Management Group (DMG).
• Ensure that appropriate procedures are in place to handle a member default effectively.
• Facilitate trade capture during simulation exercises and coordinate with operations teams.

• Help define risk requirements for new product initiatives and system enhancements.
• Contribute to the specification and testing of risk processes, reporting tools, and control mechanisms.
• Assist in assessing the risk implications of clearing new contracts and onboarding new members.

• Prior experience in a financial institution, preferably within a central counter party, investment bank, or broker.
• Familiarity with FX derivatives and/or interest rate products such as swaps, repos, and futures.
• Working knowledge of risk concepts, stress testing, and margining principles.
• Proficiency in using risk systems and data tools; experience with Murex (preferred).
• Strong analytical skills and attention to detail.
• Good communication and collaboration skills.

• Degree or equivalent experience in a quantitative or finance‑related field (e.g., Mathematics, Economics, Finance).
• Exposure to programming or automation tools (e.g., Excel VBA, Python).
• Understanding of central clearing frameworks and risk standards.

This role provides exposure to a wide range of risk activities and offers practical experience with cleared products in a regulated market infrastructure. The successful candidate will work closely with experienced risk professionals and traders, gaining insight into the day‑to‑day risk management of a global clearing service. There will be opportunities to contribute to system enhancements, new product initiatives, and operational improvements as the service evolves.

Senior Associate

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.