S&P Global is a trusted source of credit ratings, market intelligence, and benchmarks that power decision-making for governments, financial institutions, and corporations worldwide. Through its divisions - S&P Global Ratings, S&P Global Market Intelligence, S&P Global Commodity Insights, and S&P Dow Jones Indices the company provides data, analytics, and indices that underpin risk assessment, capital allocation, and portfolio construction across markets. In fast-moving fixed income and derivatives landscapes, timely, accurate pricing and high-quality reference data are critical to clients’ trading, risk, and reporting workflows.
This comprehensive guide provides essential insights into the Operations Analyst at S&P Global, covering required skills, responsibilities, interview questions, and preparation strategies to help aspiring candidates succeed.
1. About the Operations Analyst Role
In S&P Global Market Intelligence’s Pricing business, the Operations Analyst is central to the accuracy, availability, and delivery of daily valuations across fixed income, derivatives, ETFs, and index-linked instruments. The role supports upstream and downstream product linkages, manages reference data, performs coverage checks, researches corporate actions, and scrubs documentation to ensure clean, timely updates to the SPGMI Pricing database. Analysts liaise with global dealer trading desks and handle third‑party inputs such as ratings, identifiers (e.g., CUSIPs), and clearing news to maintain data integrity and continuity for clients’ workflows.
Positioned within a client-facing, operations-driven environment, the role underpins mark‑to‑market, risk management, and investment idea generation for customers by ensuring robust processes, quality controls, and reliable distribution of price and mapping files. It demands strong Excel/VBA/SQL skills to build tooling and automate processes, rigorous root‑cause analysis to resolve inconsistencies, and effective stakeholder coordination across time zones. The impact is direct and measurable: sustained data quality, prompt query resolution, and seamless client onboarding and delivery.
2. Required Skills and Qualifications
To thrive as an Operations Analyst at S&P Global, candidates need strong financial domain knowledge (especially fixed income and derivatives), operational rigor, and hands-on data skills. Below are the key educational requirements, competencies, and technical capabilities aligned to the role.
Educational Qualifications
- MBA/PGDM in Finance (pursuing or completed), with foundational coursework in capital markets and financial instruments.
- Preferred: Demonstrated academic strength in fixed income, derivatives, and data/quantitative analysis; relevant projects or internships in market operations.
Key Competencies
- Client Service Orientation: Ability to handle client queries promptly and professionally, ensuring complete and accurate responses.
- Data Quality Mindset: Detail-focused approach to reference data management, documentation scrubs, and corporate action research.
- Process Improvement: Exposure to process analysis, documentation, and continuous improvement to enhance speed and accuracy.
- Stakeholder Collaboration: Effective communication with global trading desks, data contributors, and internal teams across time zones.
- Commercial Awareness: Strong interest in financial markets and understanding of how accurate pricing enables risk and valuation use cases.
Technical Skills
- Advanced Excel: Proficiency in formulas, data cleaning, lookups, pivots, and dashboarding to support ops workflows and reporting.
- VBA/Automation: Building macros and tools that streamline repetitive tasks and reduce operational risk.
- SQL/Data Handling: Querying, validating, and reconciling datasets across systems to diagnose issues and support root‑cause analysis.
3. Day-to-Day Responsibilities
Below are core activities you can expect to perform on a typical day or week in this role, aligned with fixed income and pricing operations, client delivery, and continuous improvement.
- Client Query Management: Triage, investigate, and resolve client questions on prices, coverage, and file deliveries within agreed SLAs.
- Reference Data Stewardship: Maintain and validate loans, CDS, and bond reference data; perform coverage checks and documentation scrubs.
- Pricing Coordination: Liaise with dealer trading desks and contributors to source accurate valuations for fixed income, derivatives, ETFs, and index instruments.
- File Distribution Oversight: Monitor price and mapping file deliveries to client endpoints; address exceptions and ensure successful dissemination.
- Data Quality & RCA: Run data checks, reconcile discrepancies, and perform root‑cause analysis to prevent recurrence; build Excel/VBA/SQL tools to optimize processes.
4. Key Competencies for Success
High performers pair market fluency with operational discipline and a service mindset. The competencies below enable consistent delivery, scalable processes, and strong client trust.
- Analytical Rigor: Ability to dissect pricing anomalies, interpret market movements, and validate inputs across multiple sources.
- Operational Excellence: Habitual use of controls, checklists, and documentation to reduce errors and ensure reliable daily production.
- Communication Across Time Zones: Clear written and verbal updates to stakeholders, with proactive risk/issue escalation.
- Automation Mindset: Using Excel/VBA/SQL to eliminate manual steps, reduce turnaround time, and standardize workflows.
- Adaptability and Shift Readiness: Comfort with changing priorities and shift schedules to meet global market coverage and client needs.
5. Common Interview Questions
This section provides a selection of common interview questions to help candidates prepare effectively for their Operations Analyst interview at S&P Global.
Focus on your finance/operations background, interest in market data, and alignment with S&P Global’s mission of powering markets with trusted intelligence.
Highlight the impact of accurate pricing on risk, valuation, and client workflows, and your motivation to drive data quality and process excellence.
Use a structured example showing task prioritization, stakeholder updates, and on-time delivery without quality compromise.
Mention checklists, peer reviews, control points, and using automation to reduce manual errors.
Explain how you clarified the ask, investigated root cause, provided a timely fix, and followed up with preventive actions.
Show flexibility, clear communication, documented handoffs, and respect for cultural differences.
Discuss re‑prioritization, impact assessment, stakeholder communication, and safeguarding critical controls.
Owning outcomes end‑to‑end, transparent updates, learning from errors, and implementing corrective controls.
Share a concrete example where you iterated a process/tool and measured improvement.
Explain routines for rest, handovers, and consistency that sustain performance across shifts.
Prepare two STAR stories each for client service, data accuracy, process improvement, and stakeholder collaboration.
Define each term and how movements in rates and credit risk affect them.
Discuss CUSIP/ISIN, ticker, issuer, coupon, maturity, and how they support mapping and delivery.
Covers calls, tenders, exchanges, and how terms and identifiers may change.
Outline role of credit events, tenor, and how CDS levels relate to perceived credit risk.
Explain contributor quotes, evaluated pricing methodologies, and cross‑asset signals.
Check contributors, compare to prior day, cross‑verify with market color, and run sanity thresholds.
Explain SELECT with WHERE filters and joins to reference tables to diagnose data gaps.
Describe macros for file ingestion, de‑duplication, exception flags, and summary reporting.
Row counts, schema validation, null checks on key fields, timestamp/versioning, and sample spot checks.
Discuss NAV, basket pricing, and how index rebalances and fund flows offer validation signals.
Revise core fixed income math, identifiers, and file validation controls; practice basic SQL and Excel automation patterns.
Acknowledge receipt, confirm scope and urgency, and begin triage with internal logs and delivery checks.
Check contributor sources, previous close, related instruments, and market news; escalate if needed.
Evaluate source reliability, timestamp, methodology, and corroborating signals; document the decision.
Run delivery diagnostics, verify file integrity, trigger re‑delivery, and send proactive client communications.
Implement schema validation, key field completeness checks, referential integrity tests, and alerts.
Gather requirements, configure mappings, test end‑to‑end, validate samples, and confirm acceptance criteria.
Use a structured method (5 Whys/fishbone), quantify impact, fix at source, and add preventive controls.
Prioritize critical validations, communicate risk, seek support, and ensure post‑cutoff reconciliation.
Clarify business impact, propose phased delivery, and align on timelines with transparent trade‑offs.
Outline input parsing, joins, exception logic, summary outputs, and alerts using Excel/VBA/SQL.
Use structured frameworks (triage → diagnose → resolve → prevent) and quantify impact/time saved in your examples.
State objective, dataset, tools (Excel/SQL/VBA), results, and decisions enabled.
Connect your coursework/internship to instruments covered in the role.
Explain problem, approach, logic, testing, and impact (time/error reduction).
Capture intake, investigation, resolution, and prevention steps.
Discuss data lineage, mapping logic, and integrity checks you used.
Talk about risk‑based prioritization, SLAs, and communication.
Detail the defect, RCA method, corrective action, and metrics post‑fix.
Mention data anomalies, time zone coordination, and shift readiness plans.
Reference daily market wraps, central bank updates, and credit events.
Summarize your technical skills, market knowledge, client focus, and fit with the team’s mission.
Tailor your resume examples to the JD: pricing ops, reference data, client support, and automation deliver the strongest signal.
6. Common Topics and Areas of Focus for Interview Preparation
To excel in your Operations Analyst role at S&P Global, it’s essential to focus on the following areas. These topics highlight the key responsibilities and expectations, preparing you to discuss your skills and experiences in a way that aligns with S&P Global objectives.
- Fixed Income and CDS Fundamentals: Study bond math, yields, spreads, and CDS basics; understand how market moves affect evaluated prices and risk.
- Reference Data and Identifiers: Review CUSIP/ISIN usage, issuer terms, coupon/maturity fields, and how corporate actions trigger updates to mappings.
- Data Quality Controls: Prepare to discuss validation rules, exception handling, reconciliation design, and root‑cause analysis techniques.
- Excel/VBA/SQL for Operations: Practice common queries, macros, and automation patterns for data ingestion, cleansing, and reporting.
- Client Delivery and SLAs: Understand file structures, distribution windows, success criteria, and professional communication during incidents.
7. Perks and Benefits of Working at S&P Global
S&P Global offers a comprehensive package of benefits to support the well-being, professional growth, and satisfaction of its employees. Here are some of the key perks you can expect
- Competitive Compensation: Fixed base INR 8,00,000 with annual variable pay aligned to company and individual performance.
- Shift Allowance: Additional allowance for eligible shifts as per company policy.
- Insurance and Leave Benefits: Health insurance coverage and leave programs designed to support employee well‑being.
- Retirement Benefits: Retiral deductions and contributions in line with applicable policies and statutory frameworks.
- Learning and Career Development: Access to training resources and internal opportunities that support skills growth and mobility.
8. Conclusion
This guide outlined the Operations Analyst role within S&P Global’s Market Intelligence Pricing team, emphasizing client service, data quality, and cross‑functional coordination. Success hinges on fluency in fixed income concepts, a rigorous operational mindset, and practical skill in Excel, VBA, and SQL to automate and improve processes.
By preparing targeted stories, strengthening your understanding of identifiers and corporate actions, and practicing structured problem solving, you will be ready to discuss how you can enhance pricing accuracy and delivery reliability. S&P Global offers a dynamic platform to grow at the intersection of markets, data, and technology thorough preparation will help you demonstrate the impact you can bring from day one.
Tips for Interview Success:
- Anchor to the JD: Map your examples to client support, pricing validation, reference data, and automation to show immediate relevance.
- Show your controls: Explain the checks, thresholds, and reconciliations you use to protect data quality and on‑time delivery.
- Quantify impact: Share metrics (time saved, errors reduced, SLA adherence) from tools or process changes you implemented.
- Practice core tools: Refresh Excel (lookups, pivots), VBA macros, and basic SQL queries you can discuss and whiteboard confidently.