Full-Time

Assistant Vice President

Global Testing Services

Posted on 7/29/2025

CLS Group

CLS Group

501-1,000 employees

Provides multilateral netting-based FX settlement infrastructure

Compensation Overview

$70k - $85k/yr

+ Variable Compensation

Iselin, Woodbridge Township, NJ, USA

Hybrid

Onsite 2 days per week.

Category
QA & Testing (2)
,
Required Skills
SQL
JIRA
Linux/Unix
Requirements
  • At least 10 years of experience working in the field of IT to demonstrate sufficient knowledge on SDLC, IT Security challenges, Operation/support challenges and industrial standards on project end to end execution within a finance / banking environment
  • At least 5 years of strong practical experience of leading testing initiatives, experience on producing effective Test Artifacts and monitoring of test execution
  • Experience and knowledge on Infrastructure, Networking, Hosting setup, Monitoring, Performance indicators, System Failure and Recover, Disaster Recovery, IT Security and Operational supports
  • Hands-on experience of delivering complex IT change projects in a fast-moving organization
  • Experience of managing or working with teams within an offshore service model with different time zones
  • Experience in producing various Test artefacts including Test Strategy / Plans, Test Scenarios, Test Scripts
  • Experience in Defect Management
  • Experience testing XML, DB2/SQL, Linux/Unix, IBM MQ
  • Familiarity with the ISO 20022 Universal financial industry message scheme.
Responsibilities
  • Analyze requirements and technical solution documents to write Test Strategies for planned levels / phases of testing
  • Contributing to the Project Test Plan (with re-planning where necessary)
  • Produce Test Strategy and other project specific Test documentation
  • Monitoring team's progress on allocated tasks
  • Producing (or assist in producing) Requirements Traceability Matrix, Test Scenarios and Test Scripts
  • Performing (or assisting in) Test Execution
  • Performing the Defect Manager role for assigned projects
  • Identifying and escalating Risks / Issues / Dependencies
  • Providing regular progress reports to Project and GTS Management
  • Liaising with project stakeholders (internal to CLS and third party) to address for example knowledge gaps, queries and any other such dependencies
  • Attending / arranging meetings, workshops
  • Providing training and assistance to testers to ensure they are following testing and defect reporting processes
  • Assigning and conducting day-to-day monitoring of the project test team’s assigned projects, tasks, and activities
  • Performing test execution as required; testing the application to ensure it is working as specified, including use of test cases or on an ad-hoc basis, reporting defects and other issues found during testing in the defect tracking system
  • Ensuring testing commitments are met within the project test team and monitoring for potential impacts to target dates or other Projects. Communicating potential impacts to target dates to the Project test lead
  • Managing the JIRA (defect tracking) for all testing phases (update, follow-up and escalate overdue issues)
  • Reviewing and estimating requirement change requests
  • Reviewing and validating test results and defect reports by the Test Executers
  • Contributing in daily and weekly testing status meetings with the project test team, and the overall Project team

CLS Group provides a global FX settlement infrastructure used by thousands of counterparties to settle currency trades. It runs a multilateral netting system that reduces the funding needed for settlements, lowering risk and standardizing processes across major currencies. The platform handles trillions of dollars in daily flows, and its complementary tools offer risk management, efficient processing, and market intelligence from FX data. Its goal is to make the FX market safer, cheaper, and smoother by enabling efficient settlement and providing actionable data across the full FX lifecycle.

Company Size

501-1,000

Company Stage

N/A

Total Funding

N/A

Headquarters

New York City, New York

Founded

2002

Simplify Jobs

Simplify's Take

What believers are saying

  • CCS volumes up 87% YoY with Société Générale, Barclays, BNP Paribas, Crédit Agricole adoption.
  • CLSNet reached record $739bn daily netted value March 2026; top 12 global banks committed.
  • Regulatory push for PvP mechanisms drives broader FX infrastructure adoption across OTC derivatives.

What critics are saying

  • Regulatory mandates could commoditize settlement services, compressing CLS's pricing power and margins.
  • Competing DLT solutions and alternative PvP providers threaten CLS's market share in FX netting.
  • Concentration risk: top 12 banks represent majority of CLSNet volumes; client consolidation threatens growth.

What makes CLS Group unique

  • CLS operates unique PvP settlement system handling 18 currencies with 96% netting efficiency.
  • CLSNet DLT platform processes $171bn average daily notional, up 12% YoY in 2025.
  • CCS service integrates multilateral netting reducing daily funding requirements and settlement risk.

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Benefits

Health Insurance

Dental Insurance

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Paid Holidays

Hybrid Work Options

401(k) Company Match

Private medical insurance

Wellness Program

Mental Health Support

Discounted Gym membership

Generous parental leave policies

2 paid volunteer days

Generous non-contributory pension provision for UK/Asia employees

Annual flu vaccinations

Social events that give you opportunities to meet new people and broaden your network across the organisation

Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS

Company News

FF News
Nov 27th, 2024
Société Générale Goes Live On Cls’S Cross Currency Swaps Service

CLS, a financial market infrastructure group delivering settlement, processing, and data solutions, announced today that Société Générale has gone live on its cross currency swaps (CCS) service.CCS trades have significant settlement risk exposure due to the high value of the initial and final principal exchanges. In addition, settling these trades on a gross bilateral basis results in operational inefficiencies and liquidity constraints. The CCS service can be used seamlessly in conjunction with post-trade processing platform MarkitWire to integrate CCS flows into CLSSettlement, allowing participants to benefit from multilateral netting against all FX transactions. This not only optimizes liquidity but also significantly reduces daily funding requirements.The service’s success is reflected in its exponential growth, with the values of CCS submitted to CLSSettlement up 87% year-on-year in Q3 2024.The growth in the service also supports the efforts of policy makers and regulators who promote broader adoption of payment-versus-payment (PvP) mechanisms as a means of reducing FX settlement risk and, more generally, systemic risk in the OTC derivatives market.“We are delighted that Société Générale has gone live on our CCS service,” stated Lisa Danino-Lewis, Chief Growth Officer at CLS. “Participation in the service underscores its effectiveness in enhancing operational and liquidity efficiencies for CCS trades. The growing adoption of this service as well as the growing values submitted indicate that FX market participants are actively pursuing innovative solutions to further reduce settlement risk and improve operational efficiency.”Pierre-Jean Benazech, Global Head Cross CCY Swaps trading at Société Générale commented, “We look forward to leveraging CLS’s CCS service to optimize liquidity and mitigate settlement risk

FF News
May 14th, 2024
Barclays Bank Goes Live On Cls’S Cross Currency Swaps Service - Fintech Finance

CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announced that Barclays Bank has officially gone live on its Cross Currency Swaps (CCS) service.The CCS service – an extension of CLS’s unique payment-versus-payment (PvP) settlement service, CLSSettlement – mitigates settlement risk for CCS transactions. By integrating CCS flows into CLSSettlement, the service allows for multilateral netting against all other FX transactions, providing substantial liquidity optimization benefits as well as reducing daily funding requirements for clients.As public policy efforts to mitigate settlement risk have increased, CLS’s CCS service has seen a notable rise in activity. Values of CCS submitted to CLSSettlement are up 48% year-on-year in 2023, highlighting the industry’s support for the service.Lisa Danino-Lewis, Chief Growth Officer at CLS commented, “Barclays Bank going live on our CCS service is a positive step in our continual work toward making the global FX market more resilient and efficient. The adoption of our CCS service by Barclays, one of the world’s premier banking institutions, demonstrates the value and trust placed in our risk mitigation and liquidity management solutions by the industry. The growing number of institutions, as well as growing volumes on the platform, underlines the industry’s commitment towards minimizing settlement risk in the FX market.”Michael Pollak, Head of Cross Currency Trading, Barclays Bank PLC commented, “As markets continue to navigate an uncertain period, being able to mitigate FX settlement risk via CLS’s CCS service is a vital part of our risk management practices. Through multilateral netting, we can also optimize our liquidity, reduce our funding requirements and remove friction from the market’s infrastructure

Ledger Insights
Feb 5th, 2024
Volumes on DLT-based CLSNet FX netting grow 61% to $115bn daily

In late 2018, CLS launched CLSNet, a DLT solution for foreign exchange (FX) netting calculations for 120 currencies.

FF News
Dec 1st, 2022
Mufg Bank Signs Up To Clsnet

CLS, a market infrastructure group delivering settlement, processing and data solutions, today announces that MUFG Bank is the first Japanese bank to commit to using CLSNet, CLS’s bilateral payment netting calculation service for over 120 currencies. MUFG Bank will join the expanding CLSNet community of global and regional banks, which includes eight of the top ten global banks. CLSNet has seen a substantial rise in adoption this year, with a 495% year-on-year increase in the average daily notional of net calculations in Q3 2022. The centralized platform standardizes and automates post-trade matching and netting processes across the global currency spectrum. As market participants continue to focus on the risks associated with post-trade processing and settlement in currencies outside of CLSSettlement, CLSNet offers standardization and automation through a single platform which mitigates risk, reduces operational costs and optimizes liquidity for these currency flows

Cision
May 19th, 2022
CLS hired Dan J. Mogren as CEO on Dec 1st 20'.

The CLS Board of Directors announced that Dan J. Mogren has been appointed CEO of CLS AB after having been acting CEO since December 1, 2020.

INACTIVE