Job Title - Senior Test Consultant – Clearing, Risk & Settlement (Exchange Technology Migration) /n /n Job Type - Hybrid /n /n Location - Dubai /n /n Experience - 8+ Years /n /n - /n We are seeking an experienced Senior Test Consultant to join an independent testing team supporting a major exchange technology transformation and migration program. /n /n The role will focus on testing the Clearing House (CCP) platform, covering positions, margining and risk, collateral, banking and settlement, delivery, default management, and regulatory reporting. /n /n The successful candidate will work closely with exchange business teams, technology teams, and third-party product vendors across UAT, mock trading, cutover rehearsals, and Go-Live. /n /n Key Responsibilities /n Analyse business requirements, functional specifications, rulebooks, and regulatory requirements and develop comprehensive test scenarios and cases. /n Maintain requirement-to-test traceability and obtain formal approval from business stakeholders. /n Design and execute detailed UAT test cases across multiple vendor releases. /n Define test data and coordinate environment readiness with business, IT, and vendor teams. /n Manage defects through the complete lifecycle, including severity/priority classification, triage, retesting, and regression. /n Prepare daily and weekly test status reports covering execution, defects, risks, blockers, and readiness. /n Prepare test summary reports and provide UAT sign-off recommendations. /n Support member/ISV conformance testing, mock trading, cutover rehearsals, Go-Live, and post-Go-Live hypercare. /n Work in accordance with exchange information-security,



confidentiality, and data-classification requirements. /n CCP / Clearing-Specific Responsibilities /n Test real-time position processing, client/house segregation, position transfers, and contract-level exhaustion. /n Validate clearing and netting models including Gross-Gross, Gross-Net, Net-Net, and TFT. /n Test initial margin, SPAN/scenario-based margining, portfolio/spread offsets, cross-margining, MTM, delivery/additional margins, and pre-trade margining. /n Validate position limits, risk-reduction mode, automatic disablement/re-enablement, close-out, portability, and intraday risk-parameter changes. /n Test margin-model governance including back-testing, stress testing, historical simulation, what-if analysis, parameter versioning, maker-checker controls, and audit evidence. /n Validate collateral management including asset eligibility, haircuts, valuation, limits, acceptance/release workflows, and cash/non-cash collateral ratios. /n Test banking and settlement interfaces, pay-in/pay-out processing, shortages, penalties, payout withholding, settlement cycles, FX processing, and reconciliation. /n Test physical delivery workflows for commodities such as gold and silver, including delivery intentions, invoices, adjustments, and vault/CSD interfaces.



/n Validate default management, default-fund ledgers, liquidity reporting, reconciliation, audit trails, and regulatory/financial reporting. /n Test maker-checker controls, batch processing, rollback/re-run functionality, alerts, interface file structures, and as-of report reproducibility. /n /n Required Experience &

Qualifications /n 8–15 years of software testing/QA experience. /n Minimum 4–5 years of hands-on experience with an Exchange, CCP, Clearing Corporation, or Depository platform. /n Experience with at least one major platform migration or new-platform UAT, preferably from test planning through Go-Live. /n Solid understanding of derivatives markets, futures, options, contract lifecycle, settlement, and exchange membership structures. /n Hands-on experience with clearing platforms such as NSE Clearing (NSCCL), ICCL, MCXCCL, NCDEX Clearing, or an international CCP. /n Strong understanding of SPAN or equivalent scenario-based margining, with the ability to independently validate margin calculations for sample portfolios. /n Practical knowledge of pay-in/pay-out cycles, bank interfaces, settlement, shortages, penalties, and commodity delivery processes. /n Strong SQL and MS Excel skills for reconciliation and data validation. /n Experience with test management/defect tools such as Jira/Xray, Azure DevOps, HP ALM, or equivalent. /n Excellent communication and stakeholder-management skills, with the ability to present test results and risks to senior stakeholders. /n Experience working with third-party vendors in

📌 Senior Test Consultant - Clearing, Risk & Settlement (Exchange Technology Migration) (Hybrid) (Dubai
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