Investment Analyst for NAM Global Trading Margin Management

Job ID: 3182

We are looking for a Margin & Collateral Optimization Investment Analyst who will participate in the development of our margin management framework across cleared and bilateral derivatives. In this role, you will bridge trading, risk, operations, and technology to strengthen our capabilities in collateral optimization, regulatory compliance, and liquidity forecasting.

A critical dimension of this role is managing collateral across a vast and highly diverse universe of legal entities, including pension funds, UCITS/AIF funds, insurance companies, sovereigns, and other institutional vehicles. You will play a central part in shaping our strategic direction—leveraging advanced analytics, external calculation engines, and partnerships to deliver operational alpha and improve fund performance.

The role is a full time position based in Copenhagen, Denmark.

About our team

The Margin Management team has been established within Global Trading as part of a strategic initiative to develop capabilities within margin management including forecasting, optimizing and developing the framework around margin optimization. The objective is to enhance measurability and predictability while minimizing margin related cost drag. You will be joining an newly established margin optimization team within NAM Global Trading which currently consists of two experienced Investment Analysts who are actively building and developing our margin optimization capabilities from the ground up.

The team is at an exciting inflection point, having successfully established the foundational processes and systems for margin management across OTC, and cleared derivatives. The current focus is on transitioning from setup to strategic development – moving beyond basic operational frameworks to build sophisticated optimization across the products we support while also develop the analytical tools that will support NAM's investment capabilities. 

Collaboration. Ownership. Passion. Courage. These are the values that guide us in how we work and how we make decisions – and that we imagine you share with us.  

What you’ll be doing

Main responsibilities in this role:

• Margin Management & Optimization
• Lead enhancement of pre and post trade margining capabilities across bilateral (IM, IA, VM) and cleared products.
• Collateral eligibility optimization across clearing brokers to minimize funding and opportunity costs. Develop tools to also optimize across brokers.
• Evaluate and integrate external calculation engines to maximize automation and efficiency.
• Optimize margin related account structures and collateral eligibility.

Regulatory & License to Operate Responsibilities:

• Oversee regulatory obligation compliance (AANA, UMR, AAR, etc.) monitoring across various jurisdictions and entity types such as Funds, Pension Schemes, and Insurance Pools, ensuring accuracy and compliance.
• Embed collateral and clearing cost analytics into best execution and investment processes.

Collateral Intelligence & Operational Alpha:

• Quantify and reduce performance drag by identifying cheapest to deliver collateral and transformation opportunities across heterogeneous portfolios and legal entity structures.
• Build a consolidated, cross entity view of collateral obligations to increase transparency and reduce operational risk.
• Lead development and governance of “cheapest to post” modelling.

Cross Functional Collaboration:

• Serve as the central contact point for Trading, PMs, Risk, Regulatory Reporting, Operations, and Back Office teams — ensuring consistent collateral practices across dozens of entity types.
• Support implementation teams with forecasting, pre-trade analysis, and execution decisions.
• Drive roadmap enhancements and vendor integrations in collaboration with Technology.

Who you are

This is the right role for you if you possess a solid understanding of clearing broker operations and bring valuable buy-side experience (asset managers, hedge funds, or institutional investors). You are familiar with the end-to-end lifecycle of cleared and bilateral derivatives, including how trades flow through clearing houses (LCH, CME, Eurex), margin calls, settlement processes, and regulatory reporting.

You are well-versed in derivative instruments across asset classes (interest rate swaps, credit default swaps, equity derivatives, FX derivatives) and can confidently navigate ISDA master agreements, Credit Support Annexes (CSAs), and collateral-related agreements. You understand the operational implications including margin requirements, eligible collateral, and dispute resolution mechanisms. You work in a structured manner with a focus on quality, have a strong interest in technical IT solutions, and can adapt quickly in a fast-changing environment where finance and technology intersect.

Your background and skills include: 

• You have a solid understanding of margining on various types of derivatives: bilateral, cleared across equity and fixed income
• You have a solid understanding of the lifecycle process for margining derivatives including: dispute, calculation, clearing houses processes, regulatory reporting
• You have some understanding of the Legal framework: ISDA, CSA, IM CSA, clearing agreement
• You have worked with the Agile framework 

It would be ideal if you also have:

• Experience within Simcorp Dimension and Buy/Sell side collateral management
• Experience working with optimization and in an agile set up

What we offer

People come here when they want to get somewhere. For some, it’s to take their career to the next level. For others, it’s to break new ground within their area of expertise – in other words, with us, you will always move forward.

A culture that fosters performance and growth in one of the largest Nordic banks, offering various opportunities to evolve, develop and learn from brilliant colleagues with diverse backgrounds in a vibrant working environment.

Hybrid working model – we believe in the value of bringing people together and at the same time we embrace the freedom of flexibility.

Diversity and inclusion are a natural part of our daily work. We know that an inclusive workplace is a sustainable one. We genuinely believe that our diverse backgrounds, experiences, characteristics and traits make us stronger together. Every day we strive to find new ways to improve diversity and inclusion within our community e.g. we have signed the European Diversity Charters in the countries where we operate to show our commitment and engage with others to continue learning and improving.

If this sounds like you, get in touch!

Next steps

Submit your application no later than 31/03/2026. For more information, you’re welcome to contact Mikael Nilsson at mikael.nilsson2@nordea.com.

We enable dreams and aspirations for a greater good.

We build relationships. We add a personal touch to everything we do – when advising our customers, collaborating with colleagues, and meeting our potential candidates.

We learn and develop. We take pride in being experts and thinking ahead. We use our expertise to meet our customers’ needs, from the simplest to the most complex. We bring a growth mindset to our work that enables us to focus on a broader perspective in our daily challenges.

We lead change. We are responsible and aware of the impact of our decisions, both for our customers and for our local and global communities. Mindful of our responsibility towards current and future generations, we have made sustainability an integrated part of our business strategy.

We are Nordea. We have a 200-year history of supporting and growing the Nordic economies and our values are deeply rooted in these open, progressive and collaborative societies. As one of the biggest employers in the Nordics, Poland and Estonia, you have excellent opportunities to evolve, develop and move forward with us.