Job DescriptionJob Title - Senior Test Consultant – Clearing, Risk & Settlement (Exchange Technology Migration)

NJob Type - Hybrid

nLocation - Dubai

NExperience - 8+ Years

nJob Description -

NWe are seeking an experienced Senior Test Consultant to join an independent testing team supporting a major exchange technology transformation and migration program.

NThe 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.

NThe 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.

NKey Responsibilities

nAnalyse business requirements, functional specifications, rulebooks, and regulatory requirements and develop comprehensive test scenarios and cases.

NMaintain requirement-to-test traceability and obtain formal approval from business stakeholders.

NDesign and execute detailed UAT test cases across multiple vendor releases.

NDefine test data and coordinate environment readiness with business, IT, and vendor teams.

NManage defects through the complete lifecycle, including severity/priority classification, triage, retesting, and regression.

NPrepare daily and weekly test status reports covering execution, defects, risks, blockers, and readiness.

NPrepare test summary reports and provide UAT sign-off recommendations.

NSupport member/ISV conformance testing, mock trading, cutover rehearsals, Go-Live, and post-Go-Live hypercare.

NWork in accordance with exchange information-security,



confidentiality, and data-classification requirements.

NCCP / Clearing-Specific Responsibilities

NTest real-time position processing, client/house segregation, position transfers, and contract-level exhaustion.

NValidate clearing and netting models including Gross-Gross, Gross-Net, Net-Net, and TFT.

NTest initial margin, SPAN/scenario-based margining, portfolio/spread offsets, cross-margining, MTM, delivery/additional margins, and pre-trade margining.

NValidate position limits,risk-reduction mode, automatic disablement/re-enablement, close-out, portability, and intraday risk-parameter changes.

NTest margin-model governance including back-testing, stress testing, historical simulation, what-if analysis, parameter versioning, maker-checker controls, and audit evidence.

NValidate collateral management including asset eligibility, haircuts, valuation, limits, acceptance/release workflows, and cash/non-cash collateral ratios.

NTest banking and settlement interfaces, pay-in/pay-out processing, shortages, penalties, payout withholding, settlement cycles, FX processing, and reconciliation.

NTest physical delivery workflows for commodities such as gold and silver, including delivery intentions, invoices, adjustments,



and vault/CSD interfaces.

NValidate default management, default-fund ledgers, liquidity reporting, reconciliation, audit trails, and regulatory/financial reporting.

NTest maker-checker controls, batch processing, rollback/re-run functionality, alerts, interface file structures, and as-of report reproducibility.

NRequired Experience & Qualifications

N8–15 years of software testing/QA experience.

NMinimum 4–5 years of hands-on experience with an Exchange, CCP, Clearing Corporation, or Depository platform.

NExperience with at least one major platform migration or current-platform UAT, preferably from test planning through Go-Live.

NStrong understanding of derivatives markets, futures, options, contract lifecycle, settlement, and exchange membership structures.

NHands-on experience with clearing platforms such as NSE Clearing (NSCCL), ICCL, MCXCCL, NCDEX Clearing, or an international CCP.

NStrong understanding of SPAN or equivalent scenario-based margining, with the ability to independently validate margin calculations for sample portfolios.

NPractical knowledge of pay-in/pay-out cycles, bank interfaces, settlement, shortages, penalties, and commodity delivery processes.

NStrong SQL and MS Excel skills for reconciliation and data validation.

NExperience with test management/defect tools such as Jira/Xray, Azure DevOps, HP ALM, or equivalent.

NExcellent communication and stakeholder-management skills, with the ability to present test results and risks to senior stakeholders.

NExperience working with third-party vendors in

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