Senior Business Analyst

Senior Market Risk Business Analyst – Major Australian Bank Location: Sydney or Melbourne Engagement: Permanent Role - $200,000 + Super Industry: Market Risk / Treasury / Financial Markets TechnologyWe are partnering with a leading consultancy on a Australian bank project to uplift and modernise its Market Risk technology platform as part of a critical multi-year transformation. We’re seeking an experienced Senior Market Risk Business Analyst who can drive enhancements, lead functional validations, and work closely with Risk, Treasury Front Office, and Technology teams.You will play a key role in improving Market Risk methodologies, ensuring data integrity, strengthening FRTB readiness, and supporting complex risk calculations across a wide range of financial products.What You’ll Be DoingLead enhancements and optimisation across the bank’s Market Risk platform and FIS risk engine.Drive functional testing, parallel runs, and MTM comparison analysis between Front Office and Risk systems.Validate and analyse market and reference data across Bonds, IR Futures, Commodities, Caps/Floors, Swaptions and more.Maintain and uplift the risk database, ensuring strong controls over data lineage and quality.Troubleshoot pricing, configuration, sensitivities, and market data issues for production trades.Produce high-quality documentation on configurations, risk measures, and reporting.Engage directly with business stakeholders to gather, clarify, and refine requirements.Configure Market Risk measures including VaR, PV01, CR01, Stress Testing, Backtesting, and PnL vectors.Analyse and explain risk measure differences (e.g., Murex vs FIS VaR).Collaborate with cross-functional teams and mentor junior analysts.Contribute to automation, process efficiency, and continuous improvement of release cycles.What You’ll Need to SucceedEssential8+ years as a Market Risk BA or similar role within a bank or trading environment.Strong expertise in Market Risk models, FRTB, and asset classes (MM, FI, FX, IRD).Deep understanding of derivatives pricing, option products, curves, and market data setup.Proven ability to configure & optimise Market Risk calculations independently.Hands-on experience with risk computations (reval runs, normalized runs) and validation of key metrics.Extensive exposure to VaR, PV01, CR01, PnL vectors, Stress Testing, Backtesting.Strong SQL skills and solid RDBMS experience (Oracle/SQL Server).Excellent communication skills and stakeholder engagement capability.Nice to HaveExposure to Murex, Calypso, FIS or similar OTC trading platforms.Experience with Linux/Unix and scripting (Shell, Python).Familiarity with GIT, CI/CD, and modern DevOps practices.Understanding of regulatory frameworks (FRTB, Basel).Why Join This Program?Work on one of the most significant Market Risk transformation initiatives in Australia.Engage directly with senior Risk and Treasury stakeholders.Shape methodologies, controls, and platform capabilities across the bank.High-impact role where expertise is valued and autonomy is encouraged.