Job Overview

We are looking for an analytical FX Middle Office & Reconciliation Analyst to strengthen transaction oversight, position reconciliation, valuation checks, and operational risk monitoring across foreign exchange activities. This role serves as an important control function between trading and back-office operations, helping ensure that trading positions, transaction records, valuations, and risk information remain accurate and consistent.

Based in Estonia, the successful candidate will collaborate with traders, risk management, finance, and settlement teams to investigate discrepancies, validate transaction data, and improve the integrity of daily trading processes. The ideal professional will combine sound financial knowledge with strong analytical skills and a structured approach to resolving operational exceptions.

Key Responsibilities

• Perform daily reconciliations of FX trades, currency positions, transaction balances, and relevant trading-system records.

• Compare internal trade data with broker statements, counterparty confirmations, and external transaction reports.

• Investigate breaks involving trade amounts, exchange rates, value dates, fees, booking entries, and settlement details.

• Monitor open positions, outstanding transactions, matured contracts, and unresolved reconciliation differences.

• Conduct independent checks of selected FX valuations and investigate material discrepancies between internal prices and available market data.

• Support daily profit-and-loss validation by reviewing transaction movements, market changes, and unexplained valuation differences.

• Monitor operational indicators and identify recurring issues that may affect reporting accuracy or transaction integrity.

• Coordinate with front-office dealers to clarify trade details and resolve booking or position discrepancies.

• Work with back-office teams to address settlement-related breaks and ensure appropriate follow-up on outstanding items.

• Prepare daily and periodic reports covering reconciliation status, outstanding exceptions, position differences, and operational risk indicators.

• Maintain clear records of investigations, corrective actions, approvals, and escalations for audit purposes.

• Assist with the enhancement of reconciliation procedures, automated controls, and exception-monitoring tools.

• Support internal reviews and contribute to the consistent application of operational risk and control standards.

Qualifications and Experience

• Bachelor’s degree in Finance, Accounting, Economics, Mathematics, Banking, or a related discipline.

• Experience in middle-office operations, FX reconciliation, treasury operations, trade control, or financial reporting is advantageous.

• Good understanding of FX products, including spot, forwards, swaps, and the associated trade lifecycle.

• Knowledge of trade reconciliation, position monitoring, valuation checks, and profit-and-loss analysis.

• Strong Microsoft Excel skills, including data comparison, lookup functions, pivot tables, and reconciliation techniques.

• Familiarity with SQL, Power BI, Python, or automated reconciliation platforms is beneficial.

• Ability to investigate discrepancies, determine root causes, and document corrective actions.

• Understanding of operational risk, internal controls, audit trails, and segregation of duties.

• Strong numerical reasoning, analytical judgement, and attention to detail.

• Ability to communicate findings clearly and coordinate effectively with trading, finance, and operations teams.

Technical Environment

The role may involve FX trading platforms, treasury management systems, reconciliation applications, market-data tools, SQL databases, Excel-based control processes, and reporting dashboards. Experience with automated matching, exception management, and data-quality controls would be advantageous.

Performance Expectations

Success in this role will depend on reconciliation accuracy, timely identification and resolution of breaks, reliable valuation checks, effective escalation of material discrepancies, and consistent maintenance of audit-ready documentation. The analyst will also be expected to identify opportunities to improve controls and reduce recurring operational errors.

What We Offer

• A specialist position within FX middle-office and financial markets operations.

• Practical exposure to trade controls, position management, valuation oversight, and reconciliation processes.

• Collaboration with trading, risk, finance, and settlement professionals.

• Opportunities to develop quantitative reporting and operational control expertise.

• Competitive remuneration reflecting experience, analytical ability, and technical proficiency.

Ideal Candidate: A methodical and analytically strong professional who can connect trading activity with accurate operational records, identify discrepancies efficiently, and help maintain reliable control processes across FX operations.

Are you interested in this position?

Apply by clicking on the “Apply Now” Button below!

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