Trade Operations Analyst

Milliman • Chicago, IL

1d • $68,080 - $109,020 • Hybrid

About The Position

The Department  The Trade Operations Group provides comprehensive, front-to-back operational support for the Financial Risk Management practice. Spanning middle- and back-office functions, the department is responsible for the end-to-end integrity of complex derivatives portfolios across our Hedge Outsourcing and Fund Services business lines.   We serve as the essential link between trade execution and financial reporting, ensuring that every transaction is captured, collateralized, reconciled, accurately accounted for, and communicated to all relevant internal and external stakeholders.     The Role  The Trade Operations Analyst supports the end-to-end operational integrity of our clients' portfolios. Acting as a core member of the "front-to-back" operations team, this role focuses on the daily execution of trade lifecycles, cash management, and data integrity. This is an ideal role for a high-potential professional with a strong interest in derivatives and financial technology who is eager to build a career at the intersection of trading and institutional accounting.

Requirements

• Bachelor’s degree in Finance, Economics, Accounting, or a related field.
• Basic understanding of the lifecycle of financial instruments, with a specific interest in derivatives (swaps, futures, options) and fixed income.
• Foundational knowledge of how cash and securities move through the banking system and the general purpose of margin and collateral.
• Familiarity with the names and purposes of industry-standard documents like the ISDA Master Agreement and CSA.
• 1–4 years of professional experience in financial services, ideally within investment operations, treasury, or fund accounting.
• High degree of comfort with Excel.
• Strong desire to develop SQL, Python, and/or VBA skills.
• Clear and professional written and verbal communication skills for interaction with internal teams and external partners.
• Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas.

Nice To Haves

• A strong desire to pursue, or current enrollment in, industry recognized, professional certification programs (CFA, FRM) or a post graduate degree (preferred).
• Basic exposure to SQL, Python, and/or VBA (preferred)
• Exposure to institutional post-trade vendor systems (e.g., triResolve, AutoRek, DTCC ITP, Acadia, or similar) (preferred).
• A "detective" mentality—the ability to look at two sets of data and identify why they don't match.

Responsibilities

• Execute daily trade capture and affirmation workflows, ensuring all trade economics are accurately reflected across internal and external systems.
• Perform daily intraday and T+1 reconciliations of trade data, cash balances, and positions. Investigate and resolve basic breaks, escalating complex discrepancies to senior team members.
• Monitor the clearing and settlement process for diverse asset classes (Futures, Options, OTC Derivatives) to ensure timely fulfillment of market obligations.
• Assist in monitoring intraday account balances and margin requirements to ensure portfolios remain adequately funded.
• Support the movement of cash and collateral; help prepare margin call responses and facilitate transfers between clients, custodians, and counterparties.
• Assist in daily communications with banks, custodians, and clients to resolve standard operational inquiries.
• Generate and distribute standard reports for clients and third-party service providers.
• Support the administration of the firm’s digital repository for ISDA/CSA, ACA, and MCA documents, assisting in the data entry of key. operational terms into internal systems.
• Assist senior team members in gathering documentation for annual audits and regulatory filings.
• Run pre-defined SQL queries and Python scripts to extract position and transaction data for routine reporting and troubleshooting.
• Run and perform basic troubleshooting for existing VBA macros and Python scripts used in the daily workflow.
• Assist in updating standard operating procedure documentation as workflows evolve.

Benefits

• Medical, Dental and Vision – Coverage for employees, dependents, and domestic partners.
• Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges.
• 401(k) Plan – Includes a company matching program and profit-sharing contributions.
• Discretionary Bonus Program – Recognizing employee contributions.
• Flexible Spending Accounts (FSA) – Pre-tax savings for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) – Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis.
• Holidays – A minimum of 10 paid holidays per year.
• Family Building Benefits – Includes adoption and fertility assistance.
• Paid Parental Leave – Up to 12 weeks of paid leave for employees who meet eligibility criteria.
• Life Insurance & AD&D – 100% of premiums covered by Milliman.
• Short-Term and Long-Term Disability – Fully paid by Milliman.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level