Job description
Job Title: Business Analyst / Data Analyst (GMI Migration)
Location: London Hybrid (2-3 days in the office)
Duration: 6 months (with potential to extend)
Contract Start Date: November 2026 (screening will take 4-6 weeks from offer)
Day rate: Competitive (Inside IR35)
Deloitte
Working with the Deloitte Associate (Contractor) Programme means we can offer you the opportunity to work on a variation of industry and client related projects. Our aim is to retain the best talent and so when your project end date nears our team of Talent Community Advisors will be working with you to look at alternative projects within the firm that suit your experience should you wish to continue with Deloitte.
The Role
We're looking for a Business Analyst / Data Analyst (BA/DA) to work in the Global Markets Technology & Operations for one of our Financial Services clients. You will work on decommissioning a legacy platform (GMI) and migrating to the next-generation target architecture. We are seeking a highly analytical, hybrid Business Analyst / Data Analyst with a proven track record of delivering high-impact data migration, transformation and platform migration initiatives within Capital Markets . You will be the bridge between Clearing Operations, Technology, Front Office, and Finance dissecting legacy data structures and designing the "To-Be" data flows, business rules, and mapping for the target platform. This is a highly technical operational role requiring an expert understanding of the skills below.
Key Responsibilities
- Business Analysis & Requirements Engineering: Lead requirements gathering, process analysis, and target-state design for cleared derivatives platforms, including Futures & Options trade lifecycle processes and downstream finance impacts.
- Data Profiling, Analysis & Mapping: Perform data analysis, profiling, and source-to-target mapping to support migration activities, ensuring data quality, integrity, and alignment across legacy and target platforms.
- Migration, Testing & Parallel Runs: Drive migration readiness through test design, reconciliation frameworks, defect resolution, UAT support, and parallel run validation to ensure successful platform implementation.
- Stakeholder & Program Delivery: Collaborate and partner with business, technology, operational teams, vendors, and clearing houses to deliver complex transformation initiatives while managing risks, dependencies, and programme milestones.
Essential Skills and Experience
- An experienced BA/DA from a Tier 1 Investment Bank, Custody Bank, Clearing House (CCP), or a top-tier Management Consulting firm
- Experience of Global Markets Interface (GMI product), next-generation clearing platforms (e.g. FIS Cleared Derivatives Suite / CDS) and ION XTP (post-trade processing platform)
- Capital Markets Delivery: Proven experience delivering complex data migration, transformation, reconciliation and platform migration initiatives within capital markets or tier-1 investment banking environments
- Knowledge of OTC derivatives and Futures & Options ( F&O) Trade Lifecycle: Solid functional knowledge of the end-to-end Futures & Options trade lifecycle, including trade capture, clearing mechanics, settlement, position management, and operational exception handling
- Good understanding of Financial Accounting and General Ledger (GL) processes. Must understand how transactional business events generate downstream accounting entries and the formation of debit and credit postings
- System Knowledge: Deep, practical familiarity with clearing. Understanding of security master setup, end-of-market runs (EOM), regional processing, and core report structures
- SQL & Data Analysis: Advanced proficiency in SQL (writing complex joins, subqueries, CTEs, analytical functions) to query relational databases (Oracle, Sybase, DB2, or SQL Server)
- Data Migration Engineering: Practical experience defining/validating source-to-target mappings (STTM), designing data quality rules, writing migration test cases, and outlining business acceptance criteria
- AI-Assisted Analysis: Practical experience (or strong proficiency) in utilizing AI-assisted analysis tools, LLMs, or agentic frameworks to accelerate data profiling, break analysis, and root cause investigation
- Master of Microsoft Excel (Power Query, advanced formulas)
- Stakeholder management skills; focus on maintaining high data integrity and driving operational risk reduction.
- Outstanding communication skills, with the ability to articulate highly technical data mappings and accounting flows to business operational users
Desirable
- Familiar with automated reconciliation platforms (e.g. Intellimatch, SmartStream)
- Knowledge of Agile delivery frameworks (e.g. Jira, Confluence) and BPMN
Deliverables: Responsibilities but not limited to:
- Source-to-Target Mapping (STTM) Template: Specifying how core legacy tables map to a modern normalized target schema.
- Event-to-Postings Accounting Map (General Ledger Integration): Outlining how key clearing events (e.g., Option Exercise or Margin Settlement) translate into debit/credit entries.
- Parallel Run Reconciliation Framework: Establishing the matching rules, tolerances, and the integration of AI-assisted tools for rapid break investigation.
- Business Acceptance Criteria & Go-Live Readiness Checklist: Detailing the data quality gates and operational criteria required for a safe decommissioning sign‑off.
IR35
As a means of managing tax, commercial and reputational risks, Deloitte prohibits the use of Associates through Personal Service Companies ('PSCs'). All Associates must contract under PAYE arrangements through a Deloitte approved 'Employment Company' (aka 'umbrella company.')
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