Operations Analyst - Listed DerivativesAbout Millennium
Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors. Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time. Discover how transformative growth accelerates impact.
Meet the Team
The Operations & Middle Office team supports the firm’s global business through controlled, efficient operational processes. The Listed Derivatives Core Operations team provides end-to-end operational coverage for listed derivatives across a multi-strategy hedge fund environment, working closely with colleagues in New York, Singapore, and Bangalore.
Based in London, the team supports the full lifecycle of futures and options—from trade support and daily reconciliation through settlement, expiry, delivery, broker administration, and account onboarding.
What You’ll Do
- Process and control daily listed derivatives activity, from trade support through settlement and reconciliation.
- Monitor global exchange expiry calendars and support delivery management, exercise decisions, assignment activity, and clearing workflows.
- Support futures rollovers, settlement, expiry, and delivery, including bond-futures delivery coordination with clearing brokers and counterparties.
- Investigate daily reconciliation breaks across clearing brokers, identify root causes, and drive timely resolution with internal and external stakeholders.
- Administer give-up agreements, commission tracking, broker billing, and accurate fee structures.
- Support account setup, documentation, and operational readiness for new fund launches and mandates.
- Coordinate with trading, risk, technology, prime brokers, clearing brokers, and exchanges to resolve trade and operational queries, and work with colleagues across London, New York, Singapore, and Bangalore for effective handovers and continuous coverage.
- Identify process improvements through automation and AI-enabled tools, including reconciliation-break analysis, reporting, operational monitoring, and data analysis.
What You Bring
- 2+ years in financial operations, middle office, trade support, or a related role.
- Sound understanding of the listed derivatives lifecycle from execution through settlement, including options exercise, assignment, expiry, and clearing, plus futures rollover, settlement, and delivery workflows.
- Familiarity with trade reconciliation, clearing and margin workflows, give-up agreements, commission structures, and broker billing beneficial.
- Experience with bond futures and physical-delivery processes, global listed derivatives markets, JIRA or similar project-tracking tools, and AI/automation platforms advantageous.
- Strong attention to detail and the ability to work accurately under time pressure, particularly during expiry cycles.
- Strong analytical and problem-solving skills to investigate discrepancies, manage data, and progress issues through to resolution, with excellent written and verbal communication, including clear, professional communication with internal stakeholders and external counterparties.
- Comfort working with data and spreadsheets, and willingness to learn reconciliation, trading, and operational systems.
- A proactive, collaborative mindset, with the ability to work effectively with globally distributed teams across time zones, and an interest in using AI tools and automation to improve processes, controls, analysis, reporting, and monitoring.
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