FX Options Technical Business Analyst

Inside IR35
3 days on site
Initial 6 months
emagine is a high-end professional services consultancy and solutions firm specialising in providing business and technology services to the financial services sector, we power progress, solve challenges and deliver real results through tailored high-end consulting services and solutions.

We have created a culture of openness and integrity by building genuine and strong relationships and partnerships, enabling us to be uncompromising in our dedication in delivering the optimal service for our clients. Our commitment is not just towards our clients but we aim to foster a positive and equitable working environment with our consultants and colleagues which stems from our core values: Confident, Dedicated, Responsible, Genuine.

We are seeking an experienced Technical Business Analyst to join our FX Options Technology team. This role is ideal for someone with a strong background in front-office FX Options systems, particularly in pricing engine development, trader contribution tools, and electronic and voice trading workflows. You will collaborate closely with trading, quantitative, and technology teams to deliver robust, scalable, and regulatory-compliant solutions within a tier-one sell-side environment.

Key Responsibilities

• Partner with FX Options traders, quants, and developers to define and deliver enhancements across pricing, risk, and trade execution platforms.
• Lead business analysis for the build and enhancement of pricing engines, including volatility surfaces, pricing models, and calibration frameworks.
• Design and document functional requirements for trader contribution and distribution tools supporting both electronic and voice trading workflows.
• Collaborate with quant and development teams on pricing distribution architecture across downstream systems, including market-making, auto-hedging, RFQ, and eTrading.
• Manage regulatory and control-driven projects, ensuring full compliance with MiFID II, EMIR, and internal risk frameworks.
• Support system integration and implementation across front, middle, and back-office functions.
• Coordinate User Acceptance Testing (UAT) and assist in production rollouts, ensuring solutions align with business objectives and operational readiness.
• Drive continuous improvement in system performance, data quality, and workflow automation.

Required Skills & Experience

• 5+ years of experience as a Technical Business Analyst in FX Options or other derivatives within a major sell-side institution.
• Proven experience in implementation or greenfield build-outs of FX Options pricing or risk systems.
• Strong understanding of FX Options products, including vanilla and exotic options, pricing concepts (e.g., Black-Scholes, volatility surfaces, Greeks), and market conventions.
• Experience with electronic trading workflows, RFQ, and voice trading tools for price contribution and execution.
• Familiarity with regulatory frameworks impacting FX Options (MiFID II, EMIR, Volcker, etc.).
• Strong technical literacy with exposure to Python, C++/Java, SQL, and API integrations.
• Excellent analytical, documentation, and stakeholder management skills.
• Ability to translate complex business requirements into clear, actionable functional specifications and work collaboratively with developers and quants
• Experience with Murex, Calypso, or other front-office trading systems.
• Exposure to quantitative model integration and market data management.
• Understanding of microservices architectures, real-time data distribution, and cloud-based solutions.
• Background in Agile delivery methodologies and DevOps practices.

Our People
The ideal consultants will share our values and be aligned with our ways of working and as your career progresses, you can expect to work across all areas of the project lifecycle, from strategy to implementation. This will provide you with a broad base of experience from which to build an outstanding career.

The ideal consultants will share our values and be aligned with our ways of working and as your career progresses, you can expect to work across all areas of the project lifecycle.

We pride ourselves on;

• Providing our people with a supportive culture, rooted in our values and driven by our purpose.
• Promoting a culture of inclusion, collaboration, well-being, and learning and development.
• Providing increased agility and flexibility within our hybrid working model
• Investing in employees' growth through ongoing training and development
• Autonomy to take ownership of projects, making decisions and demonstrating individual expertise
• Providing an transparent performance and career management experience.

Our consultants are integral to delivering successful consulting engagements, addressing our clients' most pressing business challenges, and build lasting value in disciplines such as:

• Solve sophisticated, ambiguous business, change and technology problems, bringing structure and meticulous analysis and planning, acting, and taking decisions with little strategic direction
• Build, develop and sustain trusted senior client relationships in the C-suite by remaining highly attuned to client needs
• Drive, enable and support the business, partnering with our leaders, clients, and consultants across our practices to take the best of emagine to our clients through opportunity identification/qualification, solution development/presentation

Interested?
At emagine, we are committed to building an international and diverse team by embracing our different backgrounds.

If you are up to the challenge and would like to find out more, get in touch with us immediately, our internal recruitment team is always keen to hear from dynamic individuals that are looking to further their career and explore their full potential.

"emagine is an equal opportunity employer, and employment practices are based strictly on merit. It is the policy of the Company to give equal opportunity in employment regardless of sex, sexual orientation, marital status, race, age, disability, gender reassignment, pregnancy and maternity, religion or ethnic origin"