LCH SA Test Analyst, CDSClear Operations

Department description

The London Clearing House is a globally recognised multi-asset clearing house, serving major international exchanges, trading platforms and a wide range of OTC markets. LCH forms part of the LSEG Post Trade division and supports global clients, including leading investment banks and broker-dealers.

CDSClear is a unique clearing service within LCH SA, established in partnership with major Credit Derivative dealers. CDSClear provides clearing services for Credit Default Swaps and supports a growing global member base.

CDSClear Operations is responsible for supporting the operational delivery of the CDSClear service, ensuring resilient clearing operations, strong risk control, effective client support and successful delivery of business and platform changes.

Role description

We are seeking a motivated and thorough Operations Test Analyst to join the CDSClear Operations team in Manila.

The role will support the preparation, execution and follow-up of Operations-led User Acceptance Testing for CDSClear. Embedded within the CDSClear Operations team, the role will support both BAU activities and change initiatives in UAT, working closely with Operations, Risk, IT and Product participants. The Test Analyst will help validate delivered changes against real operational workflows, ensuring that testing is properly completed, evidenced, documented and followed through to closure.

The role will also support member-facing UAT activities when the CDSClear test environment is opened to Clearing Members. This includes supporting member queries, helping coordinate test execution, following up on environment or data needs, and ensuring clear communication between members, Operations, Technology and project teams.

Although based in Manila, the role will operate on European business hours to ensure close alignment with CDSClear Operations in Paris and London, particularly during UAT execution, member testing windows, release preparation and Go/No-Go activities. This is an Operations role requiring accuracy, curiosity, strong documentation rigor, good communication skills and a willingness to develop a strong understanding of CDSClear processes and platform behaviour over time.

Key responsibilities

Integrity

• Implement Operations UAT scenarios in the End-User Acceptance environment in line with agreed scope, test plans and operational workflows.
• Document test results clearly, including evidence, screenshots, trade IDs, expected outcomes and actual outcomes where required.
• Log defects and issues with sufficient detail to support investigation, including reproduction steps and operational context.
• Maintain a clear audit trail of test execution, defects, retesting, evidence and closure.
• Follow established procedures, controls and governance standards throughout the testing lifecycle.
• Report testing progress, blockers, risks and outcomes in a clear and open manner.
• Raise issues, delays or unclear outcomes to the relevant Operations lead, SME or project participant.

Partnership

• Work closely with CDSClear Operations SMEs and Business Analysts to understand expected business outcomes and operational impacts.
• Collaborate with Technology teams on environment readiness, access, configuration, test data preparation and issue resolution.
• Assist members with UAT-related queries, test execution questions and environment-related issues.
• Coordinate with internal teams to support member access, test data needs, configuration requests and follow-up on issues raised during external testing.
• Participate in requirement walkthroughs, UAT preparation sessions and release readiness discussions.
• Maintain effective communication with Operations, Technology, Change, Risk and project participants during UAT and release cycles.
• Work in close alignment with European teams during agreed European business hours.

Excellence

• Prepare and input test data required for UAT execution, including trade data and supporting references where applicable.
• Implement business UAT scenarios accurately and compare observed behaviour against expected operational outcomes.
• Analyse test results and provide clear feedback on defects, issues or unexpected behaviours.
• Support defect triage by explaining operational impact, priority, supporting evidence and required follow-up.
• Contribute to regression testing by delivering key operational scenarios across releases.
• Help maintain UAT test packs, ensuring they remain aligned with operational processes and platform changes.
• Contribute to release readiness by providing clear execution status, open issue summaries and residual risk inputs.
• Build knowledge of CDSClear workflows, trade lifecycle events, clearing processes, reporting, settlement and operational controls.

Change

• Identify recurring issues in test execution, test data preparation, environment management or scenario clarity.
• Contribute to improving UAT documentation, evidence standards and execution efficiency.
• Capture member feedback and operational observations during external UAT phases where relevant.
• Support operational readiness activities, including handover notes, runbook inputs and post-release feedback.
• Contribute to improving the quality and testability of requirements by sharing structured feedback from Operations UAT.
• Demonstrate curiosity and willingness to develop functional understanding of CDSClear processes and platform behaviour over time.

Education & Experience

• Bachelor’s degree in Finance, Economics, Business, Mathematics, Technology or a related subject area.
• 5–7 years of experience in Financial Services, ideally in Operations, Middle Office, Back Office, testing or a business-facing support function.
• Experience in UAT execution, business testing or operational validation activities.
• Exposure to clearing, post-trade, derivatives, trade lifecycle or capital markets is advantageous.
• Knowledge of Credit Default Swaps, CCP services or credit events is beneficial.
• Experience working with multiple participants across locations or functions is a plus.
• Ability to work on European business hours from Manila to support CDSClear Operations delivery, member testing and release timelines.

Technical Skills

• Ability to implement test cases accurately and document outcomes clearly.
• Good understanding of UAT execution, defect lifecycle and test evidence requirements.
• Ability to read business specification, user stories or functional specifications and translate them into test scenarios.
• Working knowledge of Agile principles and methodologies.
• Professional certifications related to Agile methodologies (e.g., Certified ScrumMaster (CSM), Professional Scrum Master (PSM), SAFe Agilist, or equivalent) are advantageous.
• Familiarity with test management and defect tracking tools such as Jira, Zephyr or equivalent..
• Understanding of test environment management, including access, configuration, test data preparation and issue follow-up.
• Ability to describe issues clearly, including expected result, actual result, reproduction steps and operational impact.

Strengths You'll Need

• Strong analytical skills with the ability to investigate issues and understand operational impacts.
• Excellent attention to detail and strong rigor in documentation and evidence collection.
• Clear communication skills, with the ability to engage with internal participants and external members.
• Collaborative approach, with the ability to work effectively across Operations, Technology, Change and project teams.
• Ability to raise appropriately when test results, member issues or environment readiness require attention.

Personal Attributes

• Meticulous, reliable and focused on accuracy and quality.
• Proactive in following up issues, blockers and open actions.
• Curious and willing to learn complex clearing workflows and CDSClear platform behaviour.
• Comfortable working in a distributed team environment across Manila, Paris, London and other locations.

Success Criteria

The successful candidate will demonstrate:

• Reliable execution of Operations UAT with complete and well-structured evidence.
• Clear and timely reporting of test progress, issues, blockers and residual risks.
• Effective support to member-facing UAT activities, including query handling, coordination and follow-up.
• Strong engagement with CDSClear Operations, Technology, Change teams and external testing participants.
• Good understanding of operational workflows and ability to apply this understanding during testing.
• Proactive identification of gaps, unclear requirements, environment issues or potential operational impacts.
• Clear contribution to release readiness and Go/No-Go decision-making.
• Commitment to LSEG’s values of Integrity, Partnership, Excellence and Change.

Career Stage:

Senior Associate

London Stock Exchange Group (LSEG) Information:

Join us and be part of a team that values innovation, quality, and continuous improvement. If you're ready to take your career to the next level and make a significant impact, we'd love to hear from you.

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce.

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.

You will be part of a collaborative and creative culture where we encourage new ideas. We are committed to sustainability across our global business and we are proud to partner with our customers to help them meet their sustainability objectives. Our charity, the LSEG Foundation provides charitable grants to community groups that help people access economic opportunities and build a secure future with financial independence. Colleagues can get involved through fundraising and volunteering.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

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