Sr. Business Analyst – DTCC Modernization & Securities Lending

Hybrid – 3 days per week on-site

Chicago, IL

About Cognizant Consulting

Cognizant Consulting is more than Cognizant’s consulting practice—we’re a global community of 5,000+ experts dedicated to helping clients reimagine their business. Blending our deep industry and technology advisory capability, we create innovative business solutions for Fortune 500 clients. And now, we’re looking for our next colleague who’ll join us in shaping the future of business. Could it be you?

About the role

As a Senior Business Analyst – DTCC Modernization & Securities Lending, you will make an impact by leading business analysis efforts for a major DTCC modernization initiative. You will be a valued member of the consulting team and work collaboratively with Operations, Trading, Technology teams, and client stakeholders to ensure readiness for DTCC-driven changes.

In this role, you will:

• Lead business analysis for DTCC Program initiatives impacting securities lending operations.

• Analyze current-state processes and define target-state workflows aligned with DTCC modernization requirements.

• Produce Business Requirements Documents (BRDs), Functional Specifications, and Change Impact Assessments.

• Facilitate discussions with Operations, Trading, and Technology teams to validate impacts and agree on implementation steps.

• Support User Acceptance Testing (UAT) by defining test scenarios, coordinating execution, and validating outcomes.

Work model

We believe hybrid work is the way forward as we strive to provide flexibility wherever possible. Based on this role’s business requirements, this is a hybrid position requiring 3 days a week in a client or Cognizant office in Chicago, IL. Regardless of your working arrangement, we are here to support a healthy work-life balance through our various wellbeing programs.

What you must have to be considered

• 10+ years as a Business Analyst in Securities Lending, Post-Trade Operations, or Change Management within a financial institution.

• Strong knowledge of DTCC settlement processes and their relevance to securities lending.

• Proven ability to produce high-quality BRDs, impact assessments, and test documentation.

• Excellent communication and stakeholder management skills.

• Experience delivering large-scale change initiatives.

These will help you succeed

• Direct experience working on DTCC initiatives.

• Knowledge of both Agile and Waterfall delivery methodologies.

• Ability to work independently and manage multiple stakeholders.

• Familiarity with collateral movements and DTCC interfaces.

We’re excited to meet people who share our mission and can make an impact in a variety of ways. Don’t hesitate to apply, even if you only meet the minimum requirements listed. Think about your transferable experiences and unique skills that make you stand out as someone who can bring new and exciting things to this role.

Compensation

The base salary range for this position is $140,000 - $170,000
Actual compensation will be based on factors such as relevant skills, experience, and work location. This position is also eligible for Cognizant’s discretionary annual incentive program, based on performance and subject to the terms of Cognizant’s applicable plans.

---

Benefits

• Medical, dental, vision, and life insurance
• 401(k) plan and contributions
• Employee stock purchase plan
• Employee assistance program
• 10 paid holidays plus PTO
• Paid parental leave and fertility assistance
• Learning and development certifications and programs

The Cognizant community:
We are a high caliber team who appreciate and support one another. Our people uphold an energetic, collaborative and inclusive workplace where everyone can thrive.

• Cognizant is a global community with more than 300,000 associates around the world.
• We don’t just dream of a better way – we make it happen.
• We take care of our people, clients, company, communities and climate by doing what’s right.
• We foster an innovative environment where you can build the career path that’s right for you.

About us:
Cognizant is one of the world's leading professional services companies, transforming clients' business, operating, and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build, and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant (a member of the NASDAQ-100 and one of Forbes World’s Best Employers 2025) is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com

Cognizant is an equal opportunity employer. Your application and candidacy will not be considered based on race, color, sex, religion, creed, sexual orientation, gender identity, national origin, disability, genetic information, pregnancy, veteran status or any other characteristic protected by federal, state or local laws.

If you have a disability that requires reasonable accommodation to search for a job opening or submit an application, please email CareersNA2@cognizant.com with your request and contact information.

Disclaimer:
Compensation information is accurate as of the date of this posting. Cognizant reserves the right to modify this information at any time, subject to applicable law.

Applicants may be required to attend interviews in person or by video conference. In addition, candidates may be required to present their current state or government issued ID during each interview.