Markets Surveillance Compliance Analyst

Markets Surveillance Compliance – Market Abuse Risk Assessment & Surveillance Development – Analyst

Markets Surveillance Compliance (MSC) has primary responsibility for the development and execution of the firm’s trade surveillance program, focused on market manipulation, insider trading, and regional or policy-related risks.

Team Background

MSC operates across three key pillars: (i) Risk Assessment, (ii) Design & Development, and (iii) Investigate & Escalate. Together, these functions support the identification and assessment of market abuse risks, the design and enhancement of surveillance controls, and the review and escalation of surveillance alerts.

This role sits within the Risk Assessment and Design & Development pillars of MSC. The team assesses market abuse risks across the firm’s businesses and products, evaluates the associated surveillance control environment, and supports the design and enhancement of surveillance controls where opportunities for improvement are identified.

The team performs periodic Market Abuse Risk Assessments (MARA) and change management reviews arising from developments in business activity, products, markets, regulations, and surveillance controls. It also supports surveillance development and enhancement by analyzing market abuse behaviors, order and trade data, detection logic, parameters, and thresholds, and testing proposed changes.

The team works closely with Line Compliance, Surveillance Teams, Compliance Engineering, and other stakeholders across the Americas, EMEA, and APAC. This provides broad exposure to financial markets and products, market abuse typologies, data analysis, surveillance methodologies, technology, and regulatory requirements.

This role provides an opportunity to develop expertise across the full surveillance lifecycle, from assessing market abuse risk to analyzing, testing, and enhancing the controls designed to detect those risks.

Key Responsibilities

•  Support the execution and ongoing maintenance of MARA, including the analysis and documentation of Inherent Risk, Control Suite, and Residual Risk assessments and associated rationales.

•  Develop knowledge of market abuse behaviors and indicators and analyze how these risks may arise across different businesses, financial products, and trading activities.

•  Support MARA change management assessments arising from changes in business activities, products, markets, regulations, or surveillance controls, and assist in evaluating their impact on existing risk and control assessments.

•  Analyze the surveillance control environment to understand how identified market abuse risks are addressed and identify observations, potential gaps, or areas requiring further review.

•  Support the design and enhancement of surveillance controls through analysis of order and trading behaviors, surveillance logic, detection criteria, parameters, thresholds, and other relevant data.

•  Perform data analysis and testing to assess the operation and effectiveness of new or existing surveillance controls, including the review of detection results, alert volumes, and the impact of proposed changes.

• Execute defined testing for surveillance enhancements, review results, identify exceptions or unexpected outcomes, and document findings for further assessment.

•  Support the development of new or enhanced surveillance scenarios by conducting research, analyzing data, and evaluating potential approaches under the guidance of experienced team members.

•  Develop familiarity with Equities and FICC products and trading flows and build an understanding of how market abuse risks and surveillance approaches may differ across products and markets.

•  Conduct research into relevant market abuse regulations, regulatory developments, and industry practices to support risk assessment and surveillance development activities.

•  Prepare clear and concise risk assessments, analytical summaries, testing documentation, presentations, and governance materials to communicate findings and support decision-making.

•  Collaborate with Line Compliance, Surveillance Teams, Compliance Engineering, and other stakeholders to progress risk assessments, surveillance enhancements, testing, and remediation activities.

•  Support weekly, monthly, and quarterly management reporting, and maintain accurate records of risk assessments, surveillance changes, issues, and associated remediation activities.

Basic Qualifications

•  Bachelor’s degree.

•  Up to four years of relevant professional experience in financial services, compliance, risk, data analytics, technology, audit, or related field.

•  Interest in financial markets and the ability to develop an understanding of financial products and trading activities.

•  Strong analytical and problem-solving skills, with close attention to detail.

•  Strong written and verbal communication skills.

Preferred Qualifications

•  Interest in compliance laws, rules, regulations, market abuse risks, and typologies.

•  Motivation to learn and continuously improve, with the ability to develop knowledge of unfamiliar products, risks, and processes.

•  Ability to work independently on assigned analysis, form evidence-based observations, and escalate issues or seek guidance when appropriate.

•  Proactive approach, with strong analytical, interpersonal, and communication skills and the ability to work effectively with colleagues in other regional offices.

•  Strong organizational skills and the ability to manage multiple priorities effectively.

•  Academic background in a quantitative, financial, or analytical discipline such as finance, economics, mathematics, computer science, engineering, or statistics.

•  Familiarity with analytical tools or programming languages such as Excel, SQL, or Python would be beneficial but is not essential.

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