Business Analyst - Fixed Income Middle Office

Location: Toronto, ON

Onsite Flexibility: Hybrid 3 days on-site

Contract Details

- Position Type: Contract
- Contract Duration: 8 months (extension not offered; conversion not offered)
- Pay Rate: C$55.00 C$62.00 / Hour (CAD)
- Shift / Schedule: Monday Friday, core business hours; overtime as needed
- Travel Requirements: Not required

Job Summary

The Compression and Derivative Support team (CMPIRD) is part of TD's Fixed Income Middle Office (FIMO). The team supports post-trade activity across Interest Rate Derivatives, including portfolio compressions, brokerage and fee processing, and ad hoc lifecycle events that may impact funding, risk, or P&L.; CMPIRD works closely with other FIMO teams and global stakeholders to ensure accurate processing and effective controls. FIMO is a strategic growth area for TD, offering strong development opportunities for individuals looking to build a career in Fixed Income operations.

The hiring manager has clarified the profile they are seeking: a strong operations professional with deep swap product knowledge will be preferred over someone with BA experience but limited product expertise. The manager is looking for someone who can step into a short-term maternity cover with minimal training, bringing recent, hands-on middle office derivatives experience particularly in interest rate and cross-currency swaps and strong communication skills.

Key Responsibilities

CMPIRD Daily Operations

- Support daily CMPIRD activities during Toronto business hours
- Assist with Global CCP Portfolio Compression processes and reporting
- Support reconciliation, validation, and payment of Interest Rate Derivative brokerage and fees
- Investigate and help resolve trade-level cash breaks and discrepancies
- Perform ad hoc bulk lifecycle actions and support corporate action postings
- Respond to queries relating to Risk, P&L;, and Funding differences
- Work closely with global FIMO teams to support post-trade lifecycle maintenance
- Assist with updating procedures and supporting control and audit requirements
- Participate in process improvement and change initiatives





Core Middle Office Responsibilities

- Investigating and resolving trade breaks
- Trade-level reconciliation
- Reconciling coupons and principal exchanges
- Brokerage reconciliation
- Supporting global post-trade operations
- Working with stakeholders across multiple regions

Required Experience

- 5 10 years of recent Middle Office experience (not experience from several years ago)
- Strong expertise in Interest Rate Swaps (IRS)
- Strong expertise in Cross Currency Swaps (CCS)
- Solid expertise in trade lifecycle and post-trade processing
- Candidates must be able to explain: swap structures and trade mechanics, clearing houses, roll conventions, FX risk, and trade booking and investigation of trade breaks
- Working in a middle office environment with interest rate products, brokerage, rate cards, or similar

Nice-to-Have Experience

- Compression / portfolio optimization experience (may also appear as Portfolio Compression, Portfolio Optimization, TriOptima, or Quantile) a bonus but not mandatory
- Experience gained outside Canada is fully acceptable, as swap processing and clearing house practices are largely global

Required Skills

- Middle office trade operations expertise (5 years required)
- Fixed income experience Capital Markets (5 years required)
- Interest Rate Derivatives experience (5 years required)
- Product knowledge in interest rate and cross-currency swaps is considered far more important than compression experience
- Strong communication skills: excellent verbal communication, strong written communication, and confidence interacting with global stakeholders

Preferred Skills

- Excel / VBA / formulas
- Calypso experience is a strong advantage
- Compression experience (1 year)




- AI assistant / Artificial Intelligence familiarity (1 year)

Work Environment / Physical Requirements

- Hybrid schedule 3 days on-site in Toronto
- Approximately 3 hours per week in meetings
- Interaction primarily with internal teams
- Contractor will have access to customer data
- Training period: approximately 1 month
- Team size: 5 people

Important Notes

- Business Analysis experience is NOT required. The manager is seeking a strong operations professional with deep swap product knowledge over someone with BA experience but limited product expertise.
- Interview process: 2 rounds Round 1 virtual; Round 2 in person.
- Previous candidates were not selected due to experience focused on bond settlements/fixed income (not swaps), lack of detailed knowledge of interest rate and cross-currency swaps, outdated middle office experience, and weak communication skills.

About the Client

This client is a top 10 North American bank providing comprehensive retail, commercial, and wealth management solutions, headquartered in Toronto, Ontario, and serving approximately 22 million customers across Canada, the United States, Europe, and the Asia-Pacific region. As the sixth-largest bank on the continent by branches and operating through a team of over 85,000 employees worldwide, the organization delivers a full-service financial platform spanning personal and commercial banking, wealth management, insurance, and payment solutions. Teams here include retail banking advisors, commercial lenders, wealth management professionals, risk analysts, capital markets specialists, and technology professionals who collaborate across a globally respected and inclusive organization.

About GTT

GTT is a minority-owned staffing firm and a subsidiary of Chenega Corporation, a Native American-owned company in Alaska. We highly value diverse and inclusive workplaces and support Fortune 500 organizations across banking, financial services, technology, life sciences, biotech, utilities, and retail sectors throughout the U.S. and Canada.

Job Number: 26-08437 Industry: Operations & Management

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📌 Business Analyst - Fixed Income Middle Office (Canada)
🏢 GTT
📍 Canada