Senior Analyst, Financial Engineering, Derivatives

Closing Date: May 22, 2025

Are you passionate about derivatives and eager to apply your financial engineering skills? We are seeking a motivated Senior Analyst, Financial Engineering, Derivatives to join our team. In this role, you will develop and maintain financial models that support the daily valuations and lifecycle events of both exchange-traded and OTC derivatives. You will also assist various Investment Operations teams by creating models for FX hedging orders, collateral funding decisions, and FX spot transactions, all aimed at cost reduction and meeting daily mark-to-market obligations. If you have a strong interest in derivatives and a desire to contribute to innovative financial solutions, we encourage you to apply and become a valuable part of our dynamic team. This role is located in beautiful Victoria, BC.

The Financial Engineering team supports the Cash, Derivatives, Collateral, Business Solutions and Trade Management branches and are accountable for delivering and supporting strategic transformation for the department.  This team focuses on delivering business and derivatives models as well as driving innovation and the adoption of new technologies.

The Senior Analyst, Financial Engineering, Derivatives, reporting to the Senior Principal or a designated Manager, focuses on supporting financial models for derivatives to ensure efficient daily valuations and lifecycle events for both exchange-traded and OTC derivatives. They also provide financial modeling support to various Investment operations teams, including Cash, Derivatives, Collateral, Business Solutions, and Trade Management branches. Additionally, the Senior Analyst develops models for managing FX hedging orders, maintaining strategies within predefined ratios, handling FX spot transactions, and overseeing collateral funding decisions to meet daily mark-to-market obligations with BCI counterparties. They are skilled in managing and troubleshooting technical issues, collaborating with their manager to analyze new derivative strategies, improve data quality processes, and implement continuous improvement initiatives. The Senior Analyst communicates with stakeholders to resolve discrepancies with external counterparties and custodians for initial margin, proactively sharing information and seeking diverse ideas for developing solutions.

• 3+ years of progressive, Financial Engineering related experience (preferably with a large asset management, investment firm, or banking institution)

• Relevant degree in STEM, finance, economics, business, or related field. Equivalent experience will also be considered.

• Professional designation (e.g. CQF, CFA, CA, CPA, MBA, CAIA, FRM) or industry accreditation an asset

• Working knowledge of the use of quantitative models for pricing and hedging derivatives

• Working knowledge of the concepts required to design, build and test of solutions that are scalable and for trades, derivatives, payments and cash future anticipated needs

• Experience in development with R and/or Phyton with a focus on financial applications

• Working knowledge of Bloomberg AIM, BQuant, ICE Portfolio Analytics, TriOptima, MarkitWire, Git/Bitbucket, SQL, JS, Non-SQL Databases and C++

• Ability to manage competing priorities, meet deliverables while building relationships with stakeholders

• Effective communication and organizational skills with the ability to work efficiently and accurately within a fast-paced environment

• Ability to evaluate the potential consequences/implications of different options and gather/validate new information and concepts when solving problems

• In collaboration with the Derivatives, FX, and Collateral Management teams, supports the development and maintenance models for the valuation and P&L optimization of lifecycle events related to listed and OTC derivatives across equity, credit, FX, and fixed income

• Assists in the creation of models to support collateral funding decisions for variation and initial margin (IM) movements, aiming to reduce funding costs and enhance securities lending revenue in accordance with internal directives and frameworks

• Utilizes various tools to analyze and review derivative valuations daily and affirm positions to the exchanges and with external counterparties

• Reviews and analyzes reports for accuracy that are used to make informed investment and trade decisions, as well as decisions made by themselves and the team (e.g., collateral selection, reset management, fixings, corporate actions, triggers, etc.)

• Supports and maintains, documentation, and reporting of both external and internal transactions, as necessary

• Contributes to innovation and adoption of innovative technologies: Contributes to the Financial Engineering team's efforts to explore and implement innovative technologies and techniques that can enhance the department's capabilities

• Optimizes branch workflows through process improvement mindset and focus on focus on improving client services

• Helps to design, implementation, and maintenance of tools and models used by IO branches

• Follows Continuous Integration and Continuous Deployment (CI/CD) practices, along with automated build and testing processes

• Helps to foster enhanced collaboration with internal and external stakeholders within the BCI ecosystem, accelerating the time-to-market for innovative initiatives

Work from our downtown Victoria office. We are an in-person collaborative organization, offering flexibility to work remotely one day a week. 

BCI offers a competitive total rewards package which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan and paid time off. 

The annualized base salary range for this role is CAD $90,000 to $109,000. 

The base salary offered to the successful candidate will consider a wide array of factors including but not limited to the individual’s skill set, level of experience applicable to the role they are being offered and consideration to internal equity.  

We pay our people competitively in the markets in which we compete for talent and with consideration to internal equity and job structure. We aim for actual pay to be around the median of the market for target or expected levels of performance, and around the upper quartile of the market for excellent performance.  

Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to, experience and expertise. 

With our values as our anchor, it is our people that help shape employee-focused initiatives and who create the environment we work in each day – all of which further strengthens our culture. BCI has been recognized as one of Canada’s Top 100 Employers – for the sixth consecutive year - and has built programs and benefits to support all our employees, including;  

• Extended health and dental coverage, start on your first day of work. We have you covered!  

• Our telehealth provider Dialogue connects you and your family to virtual healthcare appointments.   

• Eligibility to the defined benefit BC Public Service Pension Plan providing you with a secure retirement income.  

• Time off includes: 20 days' vacation, 6 paid sick days, 6 paid personal days, and 2 paid days for volunteering – to support physical, mental, and community health.  

• Four days in the office, with the option to work from home once a week, promoting both a collaborative work culture and a healthy work-life balance.  

• Annual wellness allowance to support an active lifestyle as well as physical well-being when working at home.  

• On-going learning through our in-house mentoring program, professional dues support, tuition reimbursement, and online and in-house learning.  

• Invested in your learning: BCI investment professionals lead a monthly Investment Club to share industry knowledge with employees who work in other departments.  

Apply online with a copy of your resume. We encourage timely submissions of applications as candidates will be actively reviewed and the interview process may advance earlier. 

Referrals: If you intend to list a current BCI employee as a referee, please contact them first to confirm their consent. A valid BCI email address is required, and all referrals will be verified internally. 

We welcome applications from all qualified candidates who are interested in applying for this role. You will need to be legally authorized to work in the country where this job is located. If you currently do not have authorization, or if your work permit has restrictions, or is due to expire in 12 months or less, please ensure to flag this to our recruitment team if your application is shortlisted.  

At BCI, we value diversity and believe in fostering an inclusive culture where all employees can be successful.  

We are performance and client focused and value integrity; if you share these values, we want to know you.   

We recognize that some skills can be learned on the job and encourage all to apply.  

If you require an accommodation for the recruitment process (including alternate formats of materials, accessible meeting rooms or other accommodations), contact us at [email protected].  

We would like to hear from you!