About This Role

6 years of experience
Skills: Regulatory BA, Trade Reporting, MiFID II, EMIR, ASIC, CFTC, Requirements Gathering, User Stories, UAT, SQL, Data Validation, Reconciliation Testing, Agile, JIRA / Confluence, Stakeholder Management, Capital Markets

About the Role
We are looking for a Regulatory Business Analyst with 6+ years of experience in trade reporting and capital markets — with solid testing knowledge — to join our regulatory technology delivery team. You will own the end-to-end business analysis lifecycle for trade reporting programmes — eliciting and documenting regulatory requirements, translating them into clear functional specifications, and supporting testing and validation activities to ensure delivered solutions meet regulatory accuracy, completeness, and audit standards.

This is a dual-skilled role — requiring strong BA capabilities combined with hands-on testing experience — making you equally effective in requirements workshops and UAT execution, data validation, and defect management.

What We're Looking For

- 6+ years of experience in business analysis with a strong focus on trade reporting and regulatory compliance in capital markets or financial services.

- Deep knowledge of trade reporting regulatory frameworks — MiFID II, EMIR, ASIC Derivative Transaction Rules, CFTC, or equivalent — including field-level reporting requirements, validation rules, and submission standards.

- Strong capital markets domain knowledge — OTC derivatives, FX, fixed income, equities, and repos — covering trade lifecycle, product characteristics, and reporting obligations.

- Solid testing skills — functional test case design, UAT coordination, data validation, and defect management — applied to regulatory trade reporting systems.

- Advanced SQL skills — writing complex queries for data validation, reconciliation, and field-level trade report verification across Oracle, SQL Server, or PostgreSQL.

- Proven requirements documentation skills — BRDs, user stories, data mapping documents, process maps, and acceptance criteria for trade reporting technology programmes.

- Experience managing regulatory change impact assessments — analysing regulatory updates and defining functional changes required across trade reporting systems.

- Strong stakeholder management skills — engaging compliance, legal, risk, operations, and technology stakeholders with confidence and regulatory credibility.

- Agile delivery experience — contributing as an embedded BA in Agile sprint teams using Jira and Confluence.

- Excellent written and verbal communication skills — producing clear, accurate, and audit-quality regulatory documentation.

Nice to Have





- Experience with trade reporting platforms — DTCC GTR, REGIS-TR, UnaVista, RADAR, or equivalent trade repositories.
- Familiarity with regulatory reporting schemas — ESMA EMIR Refit, ASIC RG 251, CFTC Part 45 — including XML / JSON field validation.
- Knowledge of LEI, UTI, and UPI — trade identifier validation and regulatory reporting implications.
- Exposure to Calypso, Murex, or equivalent capital markets platforms — understanding trade data extraction and reporting workflows.
- Understanding of BCBS 239 / RDARR principles — data quality, lineage, and traceability in regulatory reporting.
- CBAP / CCBA Business Analysis certification.
- ISTQB Foundation — Testing certification.
- Experience with Australian regulatory reporting — ASIC Derivative Transaction Rules, APRA prudential reporting.
- Familiarity with data quality frameworks — completeness, accuracy, timeliness, and consistency — applied to trade reporting validation.

Key Responsibilities

Regulatory Business Analysis

- Lead requirements elicitation and analysis for trade reporting programmes — engaging compliance, legal, risk, technology, and operations stakeholders to define clear, unambiguous functional and data requirements.
- Translate complex regulatory obligations — MiFID II, EMIR, ASIC Derivative Transaction Rules, CFTC, or equivalent — into well-structured user stories, BRDs, functional specifications, data mapping documents, and acceptance criteria.
- Conduct regulatory change impact assessments — analysing updated technical standards, schema changes, and rule amendments to define the functional and data changes required across trade reporting systems.
- Map current-state (AS-IS) trade reporting processes and design future-state (TO-BE) workflows — identifying gaps, inefficiencies, and compliance risks that delivery must address.
- Maintain requirements traceability — managing RTMs to ensure all regulatory requirements are addressed through design, configuration, testing, and sign-off activities.
- Define data mapping and transformation logic — documenting field-level mapping rules, validation logic, and derivation rules for trade report population across all reportable instrument types.




- Contribute to regulatory submission governance — supporting sign-off activities with clear requirements traceability, test evidence, and functional documentation.

Testing & Validation

- Develop and execute functional test cases — validating trade reporting system outputs against regulatory requirements, field mapping specifications, and business acceptance criteria.
- Write and execute SQL queries for data validation — verifying trade report field population, transformation logic, and submission accuracy against source system data and regulatory schemas.
- Conduct end-to-end reconciliation testing — comparing trade report outputs against golden source systems and regulatory submission records to identify breaks, data quality issues, and reporting errors.
- Support and coordinate UAT activities — engaging business users, compliance officers, and regulatory operations teams to validate trade reporting functionality and sign off on delivered solutions.
- Manage defect triage and resolution — logging, prioritising, and tracking defects in Jira, providing transparent business impact assessment and working with technology teams to drive resolution.
- Validate regulatory schema compliance — testing trade report XML / JSON outputs against ESMA, ASIC, CFTC, or equivalent regulatory validation rules and field format requirements.
- Support regression testing for regulatory change releases — maintaining and executing regression test packs that validate existing trade reporting functionality is unaffected by recent changes.

Stakeholder Management & Delivery

- Engage and manage stakeholders across compliance, legal, risk, trade operations, and technology — translating between regulatory language and technology delivery terminology with clarity and authority.
- Facilitate requirements workshops, process design sessions, and regulatory change briefings — engaging stakeholders at all levels from operational teams to senior compliance leadership.
- Collaborate with technology delivery teams — developers, QA engineers, and architects — providing functional guidance, clarifying requirements, and supporting technical design decisions.
- Contribute to Agile delivery ceremonies — sprint planning, backlog refinement, stand-ups, and retrospectives — as an embedded BA contributing regulatory domain expertise to delivery teams.
- Produce clear, audience-appropriate documentation — functional specifications, data mapping documents, test plans, defect reports, and UAT sign-off evidence for governance and audit purposes.
- Monitor the regulatory change landscape — tracking ASIC, ESMA, CFTC, and global regulatory developments to proactively identify and assess upcoming trade reporting obligations.

📌 Regulatory Business Analyst/Functional QA (Gurugram)
🏢 Bounteous
📍 Gurugram