Capital Markets Back-Office | 3–5 Years Experience | Full-Time
Own the quality of capital markets back-office software through rigorous manual testing across functional, regression, integration, and user acceptance testing phases. Work closely with Business Analysts, Developers, and Product Owners to understand requirements, design comprehensive test scenarios, and ensure that regulatory compliance features, trade lifecycle workflows, and exchange connectivity modules are defect-free before every release. Bring domain knowledge of broking back-office operations to design tests that go beyond surface-level validation and catch real business-impact defects.
Testing Type
Manual (Automation a Plus)
Domain
Capital Markets Preferred
A. Test Planning & Design
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Test Planning: Analyse BRDs, FSDs, and user stories to prepare comprehensive Test Plans covering scope, approach, entry/exit criteria, risks, and timelines for each release cycle.
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Test Case Design: Design detailed test cases and test scenarios for functional, regression, integration, boundary, and negative testing — with clear steps, test data, expected results, and traceability to requirements.
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Requirement Traceability: Maintain a Requirements Traceability Matrix (RTM) linking every test case to its corresponding BRD/FSD requirement — ensuring full coverage and audit readiness.
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Domain-Driven Test Design: Leverage capital markets domain knowledge to design test scenarios that mirror real broking operations — end-of-day batch runs, margin computation cycles, settlement obligation mismatches, exchange file ingestion failures, and regulatory report generation.
B. Test Execution
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Functional Testing: Execute manual test cases across all modules — trade booking, order management, margin management, clearing & settlement, depository operations, regulatory reporting, and brokerage computation.
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Regression Testing: Run full and targeted regression test suites after every build/patch to ensure existing functionality is not broken by new changes — particularly critical after regulatory change releases.
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Integration Testing: Validate end-to-end data flows across modules and across external integrations — exchange file ingestion (NSE/BSE/MCX), depository (NSDL/CDSL) transactions, bank feed reconciliation, and third-party API connectivity.
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Exchange File Testing: Test ingestion, parsing, and processing of exchange files — SPAN files, bhavcopy, obligation files, pay-in/pay-out data, TBT feeds — validating computed outputs against expected values.
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UAT Support: Co-ordinate and support client User Acceptance Testing — prepare UAT test packs, guide client operations teams through test execution, log observations, and track sign-off.
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EOD Batch Testing: Test end-of-day and end-of-week batch processes — EOD position computation, margin file generation, settlement batch, obligation upload, and report generation — verifying output files against expected exchange/regulator formats.
C. Defect Management
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Defect Logging: Log defects with complete reproducible steps, screenshots, log excerpts, and severity/priority classification in Jira, Azure DevOps, or equivalent tools — enabling developers to reproduce and fix without back-and-forth.
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Defect Triage: Participate in daily defect triage calls with developers and product owners — validating severity, agreeing priority, and tracking resolution within the sprint.
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Defect Retesting & Closure: Retest fixed defects in the correct build environment, confirm resolution, and formally close — ensuring no regression before marking a build as release-ready.
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Root Cause Tracking: Identify recurring defect patterns across releases and report to the product team — enabling upstream process improvements in requirements or development practices.
D. Regulatory & Compliance Testing
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Regulatory Change Testing: Test all product changes driven by SEBI circulars, NSE/BSE exchange notices, and IRDAI/RBI guidelines — validating compliance with effective dates, reporting formats, and computation rule changes.
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SEBI Report Validation: Verify regulatory reports (SEBI margin reporting, exchange MIS, client-wise position reports, UCC linkage) against regulator-prescribed formats and data accuracy requirements.
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Peak Margin Testing: Test peak margin snapshot computation, intra-day margin reporting, and upload file generation — validating against SEBI peak margin framework requirements.
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Audit Trail Validation: Ensure all regulated workflows maintain complete, tamper-proof audit trails — verifying timestamps, user actions, and system-generated entries as required by SEBI and exchange compliance frameworks.
E. Quality Assurance Process
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Test Environment Management: Coordinate with DevOps/infrastructure teams to maintain stable test environments — managing test data, environment refreshes, and configuration consistency across QA, UAT, and staging.
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Release Sign-Off: Prepare and publish Test Summary Reports at the end of each release cycle — summarising test execution metrics, defect status, open risks, and formal go/no-go recommendation.
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Agile Ceremonies: Participate in sprint planning, backlog grooming, daily stand-ups, and sprint reviews — providing QA input on effort estimates, acceptance criteria clarity, and release readiness.
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Knowledge Base: Maintain and continuously improve the test case repository — keeping test cases current with product changes and regulatory updates across every release.
Candidates with hands-on knowledge of the following areas will be able to design significantly more effective test scenarios:
Trade Lifecycle
Order entry validation, trade booking, modification & cancellation, give-up trade allocation, trade confirmation generation
Margin Management
SPAN margin computation, VaR margin, exposure margin, MTM loss, margin shortfall alerts, peak margin snapshots, margin call workflows
Clearing & Settlement
Obligation computation, pay-in/pay-out processing, T+1 settlement cycle, shortage handling, auction trade processing, DVP/non-DVP settlements
Depository Operations
NSDL/CDSL demat credit/debit, eDIS/DDPI instruction processing, pledge & margin pledge, DP account statements, holding reconciliation
Exchange File Processing
SPAN file ingestion & computation, bhavcopy import, obligation file upload, UCC/KYC file, TBT feed parsing, EOD file generation
Regulatory Reporting
SEBI margin reports, exchange MIS, client-wise position reports, peak margin upload files, audit trail logs
Brokerage & Ledger
Brokerage slab computation, ledger posting, fund transfer, bank reconciliation, client P&L statement generation
Risk Management
Pre-trade risk checks, position limit breaches, RMS block/unblock, exposure computation, square-off triggers
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3–5 years of manual testing experience in a software product company or financial technology firm
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Proficiency in writing detailed test cases, test plans, and RTMs from BRDs/FSDs and user stories
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Hands-on experience with defect management tools — Jira, Azure DevOps, Bugzilla, or equivalent
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Functional testing, regression testing, integration testing, and UAT support experience
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Basic SQL — ability to write SELECT/JOIN queries to validate database-level outputs and data integrity
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Understanding of SDLC and STLC — waterfall, Agile/Scrum, and iterative release models
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Agile testing experience — working within sprint cycles, participating in ceremonies, and writing acceptance criteria-aligned tests
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Ability to read and interpret functional specifications and translate them into executable test scenarios
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Methodical, detail-oriented approach — able to detect edge-case defects in complex computation-heavy modules
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Clear written communication — well-structured defect reports, test summary reports, and UAT packs
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Capital markets back-office domain experience — trade lifecycle, clearing & settlement, margin management, or depository operations
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Prior testing experience at capital markets product firms: TCS Financial Solutions, Comtec Systems, Secmark Consultancy, Tech Excel, or Rupeeseed
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Experience testing exchange file processing — SPAN, bhavcopy, obligation files, pay-in/pay-out, TBT feeds for NSE/BSE/MCX
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Experience testing regulatory compliance features — SEBI margin reporting, peak margin framework, T+1 settlement, or exchange MIS reports
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Familiarity with back-office platforms — Dolphin, TCS BaNCS Precision, Comtek, Rupeesoft, Tech Excel, or NSEIT systems
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Exposure to automation tools — Selenium, Postman, REST-Assured, or equivalent (not mandatory but valued)
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Knowledge of API testing — validating REST/XML integrations using Postman or curl
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NISM certification — Series VII (Securities Operations & Risk Management) or Series VIII (Equity Derivatives)
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ISTQB Foundation or Advanced Level certification
Candidates with prior testing experience at the following capital markets technology firms are strongly preferred:
Organisation
Platform / Product
Domain Focus
TCS Financial Solutions
TCS BaNCS Precision
Institutional & retail back-office, clearing
Comtec Systems
Comtek Back-Office Suite
Broking back-office, margin, settlement
Secmark Consultancy
Secmark BO Platform
Clearing, settlement, depository operations
Tech Excel
Tech Excel Back-Office
Multi-exchange broking operations
Rupeeseed
Rupeeseed Platform
Retail & sub-broker back-office, reporting
KGiSL / Dolphin
Dolphin Broker BO
Clearing, settlement, risk management
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B.E. / B.Tech / BCA / B.Sc (Computer Science or Information Technology)
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MBA (Finance) or B.Com candidates with strong technology aptitude and capital markets operations background are equally considered
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ISTQB Foundation Level certification — preferred; Advanced Level is an added advantage
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NISM Series VII or VIII certification — an advantage for candidates from capital markets background
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Detail-obsessed — naturally notices inconsistencies, edge cases, and boundary conditions that others overlook
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Domain-curious — goes beyond the test script to understand why a feature works the way it does in a broking back-office context
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Deadline-aware — manages test execution under release pressure without compromising coverage or quality
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Collaborative — works constructively with developers on defect reproduction and resolution, not adversarially
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Proactive — raises test environment issues, data gaps, and specification ambiguities early rather than discovering them mid-execution
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Ownership mindset — treats the quality of the product as a personal responsibility, not just a process to follow
Interested candidates may share their updated profiles highlighting relevant capital markets domain exposure, platforms tested, and regulatory compliance testing experience.
