The Middle Office Analyst is a critical control and oversight function within the Bank Operations Division, sitting between the revenue-generating Front Office and the settlement and accounting functions of the Back Office. The role provides independent validation, control assurance, trade lifecycle oversight, and operational risk support across the Banks activities.
Operating within a UK-regulated bank, the Middle Office Analyst supports the integrity of the Banks control environment, ensures adherence to PRA, FCA, and Bank of England regulatory requirements, and provides the operational infrastructure that enables the Front Office to function within approved risk parameters.
The jobholder acts as a key control point in the Bank’s Three Lines of Defence model, operating primarily within the First Line with responsibilities that directly support Second Line oversight. The role demands a high degree of accuracy, operational discipline, and awareness of the regulatory environment governing UK wholesale banking.
Key responsibilities
Control Assurance and Risk Management
- Perform monthly Control Assurance Testing (CAT) across all assigned business areas, ensuring 100% completion within agreed timelines and to the standard required by Internal Audit and the Risk function.
- Produce detailed, evidenced CAT reports that provide senior management with a clear assessment of each team’s control performance, including identification of control weaknesses, root cause analysis, and recommended remediation actions.
Trade Processing and Lifecycle Management
- Track, validate, and process all non-Straight-Through Processing (non-STP) trades booked by the Front Office across all asset classes (FX, fixed income, money markets, term loans).
- Bond, Coupon, and Principal Settlements
- FX Rate Maintenance
- Term Loan Processing and Monitoring
- Static Data and System Access Management
- Intercompany and Regulatory Reporting
- Process Improvement and Governance
Key Skills
- Knowledge and experience of the operational risk function.
- Knowledge and understanding of core banking activities and processes.
- Understanding of Regulatory rules and legislation – PRA, FCA and Bank of England.
- General experience and background experience for successful execution of the role.
- Banking experience, particularly in a UK-based, foreign-owned institution.
- Emerging markets experience (desirable, not essential).
- Ability to anticipate operational risk issues, identify solutions quickly and provide clear guidance to mitigate the risks.
- Analytical skills to assess data and interpret the potential impact of operational risks
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