Payments Business Analyst

Magnit Global; Greater London; Hybrid; GBP 125,000 - 170,000; Full time

Job summary

Magnit Global is recruiting a Payments Business Analyst for a major regulatory change programme in a global banking environment. London-based with a 3 days in the office pattern, initially a 6-month contract at £800 per day inside IR35.

The role focuses on PSD2 and UK PSR, translating regulatory requirements into robust business processes, controls and technology solutions across Operations, Technology, and Compliance.

Qualifications

• Extensive experience as a Payments BA in banking or financial services.
• Proven PSD2 and UK PSR regulatory change delivery.
• Ability to work across business, technology and compliance.
• Experience with end-to-end payments processing.
• Stakeholder engagement across Operations, Technology, Risk and Compliance.

Responsibilities

• Lead business analysis activities across a significant payments regulatory change programme, with particular focus on PSD2 and UK Payment Services Regulations.
• Assess regulatory requirements and conduct detailed impact and gap analysis across existing payment processes, systems and controls.
• Gather, analyse and document business and functional requirements, translating complex regulatory obligations into practical solutions.
• Develop detailed as-is and to-be process maps, identifying operational improvements and changes required to achieve regulatory compliance.
• Work closely with Payments Operations, Technology, Compliance and Risk teams to support the successful delivery of regulatory and technology change.
• Coordinate testing activities, including UAT, business verification and implementation readiness.
• Manage project deliverables, risks, issues and dependencies, providing regular updates to senior stakeholders.
• Act as a payments subject matter expert, supporting wider operational improvements and regulatory initiatives.
• Extensive experience operating as a Payments Business Analyst within banking or financial services is essential.
• Strong, demonstrable experience implementing PSD2 and/or UK Payment Services Regulations, ideally within a major banking institution.
• Proven track record delivering payments regulatory change projects from initial impact assessment and requirements gathering through to testing and implementation.
• Strong knowledge of end-to-end payments processing, operational workflows, controls and regulatory requirements.
• Experience producing business requirements, functional specifications, gap analysis and process documentation.
• Excellent stakeholder management skills, with the ability to engage effectively across Operations, Technology, Risk and Compliance.
• Ability to work autonomously, manage competing priorities and take ownership of complex BA deliverables.
• Experience using Jira and Confluence.
• Knowledge of UK payment schemes, including Bacs and Faster Payments.
• Experience working on RTGS, HVPS+ or ISO 20022 related initiatives.
• Exposure to corporate banking, transaction banking or wholesale payments environments.
• Experience with Alteryx and wider payments transformation programmes.

Skills

PSD2/PSR experience

Payments operations

Stakeholder management

Jira

Confluence

Alteryx

ISO 20022

RTGS/HVPS+

Tools

Jira

Confluence

Job description

Payments Business Analyst | Global Banking Organisation

London | 3 days in the office

Initial 6 month contract | £800 per day inside IR35

We are seeking an experienced Payments Business Analyst to join a leading global banking organisation, supporting a major regulatory change programme within its EMEA Payments Operations function.

The successful candidate will play a key role in delivering change relating to the Second Payment Services Directive (PSD2) and UK Payment Services Regulations (PSR), ensuring regulatory requirements are accurately translated into business processes, operational controls and technology solutions.

This role requires a strong understanding of payments operations, proven experience delivering PSD2/PSR regulatory change initiatives, and the ability to operate independently across business, technology and compliance functions.

Key Responsibilities:

• Lead business analysis activities across a significant payments regulatory change programme, with particular focus on PSD2 and UK Payment Services Regulations.
• Assess regulatory requirements and conduct detailed impact and gap analysis across existing payment processes, systems and controls.
• Gather, analyse and document business and functional requirements, translating complex regulatory obligations into practical solutions.
• Develop detailed as-is and to-be process maps, identifying operational improvements and changes required to achieve regulatory compliance.
• Work closely with Payments Operations, Technology, Compliance and Risk teams to support the successful delivery of regulatory and technology change.
• Coordinate testing activities, including UAT, business verification and implementation readiness.
• Manage project deliverables, risks, issues and dependencies, providing regular updates to senior stakeholders.
• Act as a payments subject matter expert, supporting wider operational improvements and regulatory initiatives.
• Extensive experience operating as a Payments Business Analyst within banking or financial services is essential.
• Strong, demonstrable experience implementing PSD2 and/or UK Payment Services Regulations, ideally within a major banking institution.
• Proven track record delivering payments regulatory change projects from initial impact assessment and requirements gathering through to testing and implementation.
• Strong knowledge of end-to-end payments processing, operational workflows, controls and regulatory requirements.
• Experience producing business requirements, functional specifications, gap analysis and process documentation.
• Excellent stakeholder management skills, with the ability to engage effectively across Operations, Technology, Risk and Compliance.
• Ability to work autonomously, manage competing priorities and take ownership of complex BA deliverables.
• Experience using Jira and Confluence.
• Knowledge of UK payment schemes, including Bacs and Faster Payments.
• Experience working on RTGS, HVPS+ or ISO 20022 related initiatives.
• Exposure to corporate banking, transaction banking or wholesale payments environments.
• Experience with Alteryx and wider payments transformation programmes.