Senior Business Analyst- Advice Strategy Transformation (6-12 month FTC)

The Financial Services Compensation Scheme Ltd; City Of London; On-site; GBP 45,000 - 65,000; Full time

Job summary

A financial compensation organization in London is seeking a Senior Business Analyst to lead project initiatives. The role involves bridging business requirements and agile delivery teams while managing a small team. Ideal candidates will have significant experience in business analysis and knowledge of the financial services sector. Competitive benefits package includes flexible working options and comprehensive health coverage.

Benefits

Employer pension contributions from 9% - 15%

Life assurance

Private medical and dental insurance

26 days annual leave

Enhanced maternity, paternity, and adoption leave

Qualifications

• Significant experience as a business analyst in end-to-end project lifecycles.
• Knowledge of financial services industry and regulatory frameworks.
• Ability to manage multiple initiatives in a fast-paced environment.

Responsibilities

• Lead a small team of Business Analysts.
• Build strong relationships with stakeholders to ensure project success.
• Document processes and key artifacts for project delivery.

Skills

Business analysis

Stakeholder management

Agile methodologies

Data analysis

Project management

Education

Certified in Business Analysis or equivalent

Tools

Business process modelling tools

Job description

The Vacancy

As a Senior Business Analyst- Advice Strategy Transformation at FSCS you will play a crucial role in leading the scheme to navigate change and achieve our goals. You will play a lead role in delivering business objectives through project and improvement initiatives working with all areas of FSCS and managing a small team of Business Analysts.

As a key player in the full lifecycle of delivery, you will work across several projects at the same time and assume a critical role bridging together the business and their requirements and the work of agile delivery teams.

The role holder will work closely with agile teams on the creation and refinement of requirements and user stories including scoring for prioritisation and leading on testing and quality checks. They will lead process improvement opportunities bringing the As Is and To Be state to life by visualising and presenting to key stakeholders at all levels of the business.

Key Priorities

• Leading a small team of Business Analysts, supporting their development and fostering a high-performance culture through OKR setting and continuous support.
• Building strong relations with stakeholders, acting as an influential and trusted advisor in the design and delivery of the best approach to ensure projects are successful.
• Identifying key stakeholders, understand their needs, gather requirements, analyse and refine these requirements and validate the requirements taking ownership of the full elicitation process through to sign off.
• Documenting processes and other key artifacts for project delivery across a wide variety of departments. Capturing complex elements and translating them into clear process models and supporting documentation.
• Lead on process improvements to enhance efficiency and reduce cost.
• Propose and design technical and process solutions that meet business needs and objectives.
• Analyse data to identify trends, patterns, and insights that inform business decisions
• Identify suitable processes and analysis working with Project Manager and internal teams to embed them into FSCS
• Have a deep knowledge of best practices, tools and techniques and be capable in demonstrating them.
• Drawing on the big picture and work experience of architecture and solutions to offer design options
• Champion policies, guidelines, and procedures. Act as a Subject Matter Expert (SME) for Business Process Management and process modelling.
• Champion agile ways of working ensuring business requirements are translated to delivery via agile teams.

About You

We have identified the following skills, knowledge, and experience as essential for success in this role however we understand that everyone's learning journey is different and there is no one size fits all. If you feel you have many of the below strengths but don't tick all the boxes, we'd still love to hear from you.

• Significant experience working as a business analyst with demonstrable experience in a senior/leading role in end-to-end project lifecycles.
• Certified in Business Analysis, Certified Business Analysis Professional or equivalent.
• Experience and knowledge of the financial services industry including familiarity with financial products and services.
• An understanding of regulatory frameworks (e.g., the role of the FCA, PRA) and of the nuances of working on a project within a regulated environment.
• Ability to interpret and translate regulatory requirements into business and technical solutions.
• Experience working with cross-functional teams including Operations, Compliance, Risk, Legal, and IT.
• Demonstrated ability to manage multiple concurrent initiatives in a fast-paced environment.
• Knowledge of project risk management principles.
• Ability to influence and challenge stakeholders at all levels.
• Mentoring less experienced analysts and contributing to BA practice development
• A deep knowledge of project delivery best practices, tools and methodologies including agile and waterfall.
• Expert knowledge and ability to train others on business process modelling and documentation tools along with requirement elicitation and documentation.
• Advanced data analysis and expertise including:
  • Requirements elicitation, documentation, and validation
  • Process modelling (e.g., BPMN)
  • Gap analysis and impact assessments
  • Stakeholder management and facilitation
  • Production of insightful reports and BI
• Ability to quickly develop an understanding of the scheme strategies and priorities and translate that understanding into deliverable activities.
• Strong stakeholder management skills with the ability to influence at all levels.
• Excellent communication and interpersonal skills.

Working at the FSCS

At FSCS we are purpose driven and committed to delivering an exceptional service and results for our customers.

We have invested greatly in a flexible people offering that we're proud of, that our employees love and that supports and promotes diversity, inclusion, and overall wellbeing. Key benefits include:

• Employer pension contributions from 9% - 15% dependant on your contributions and length of service
• Life assurance, income and critical illness protection
• Private medical and dental insurance
• EAP and Virtual GP
• 26 days annual leave + bank holidays and the option to sell 5 or buy up to 9 additional days per annum to suit your lifestyle
• Enhanced Maternity, Paternity and Adoption leave - 6 months full pay
• Additional discounts and options to earn rewards to spend at your choice of retailer

About Us

For the past 21 years, FSCS has been getting customers of failed authorised financial services firms back on track.

Our strength is in our numbers. Since 2001, we have helped 6.5m customers and paid back £26bn in compensation. Over the years we have continually strived to be better, faster, and more empathetic to our customers' needs in an ever more complex financial world. Our people have worked together to make sure we can offer protection and reassurance every step of the way, even during the toughest of times over the last two years. FSCS is an organisation that makes a difference, and in which our people truly make a difference.

We have grown from modest beginnings in 2001 to helping customers during historic events such as the 2008 banking crisis and supporting vulnerable customers during the pandemic. As a result of this success, FSCS has become increasingly respected, insightful, and influential in the regulatory eco‑system. It is an exciting time in our journey as we now have an opportunity to play a bigger role in breaking the cycle of rising consumer harm and costs; by being part of a system that is about prevention rather than cure.

Our Strategy

Prepare

What we are aiming for: We shall respond to large and complex firm failures, whilst maintaining our seven-day pay‑out for savers in banks, building societies and credit unions. We will actively contribute to increasingly effective resolution when firms fail.

Why this matters: FSCS needs to contribute to public confidence and financial stability by being ready to respond when called upon across the full range of protected products.

Our approach:

• Maintain well‑tested contingency plans, backed by necessary capabilities and robust customer information.
• Collaborate with industry to improve the customer information we rely on for payouts.
• Improve our ability to respond quickly to investment and insurance failures.
• Work with industry and regulators to improve resolution arrangements.

Protect

What we are aiming for: FSCS is known and trusted for protection that puts people back on track through outstanding customer experience.

Why this matters: Customer expectations are rising. The service our customers receive must meet their expectations in terms of speed, accessibility and ease of use, in order to maintain consumer trust and confidence.

Our approach:

• Exploit digital technology to create the service our customers expect, at lower cost to our levy payers.
• Improve the speed of our service by eliminating time and process inefficiencies, particularly with third parties.
• Exploit our new strategic partnership - by drawing on our partner's expertise, scale and experience.
• Provide continuity of cover for policyholders in failed insurance companies.

Promote

What we are aiming for: We shall raise awareness of FSCS protection across all of the products and services we protect, particularly retirement savings products.

Why this matters: Awareness of FSCS protection maintains confidence in a crisis. Awareness also helps to inform people's choices by increasing their confidence in buying protected services and understanding the risks of unprotected products.

Our approach:

• Partner with the industry to raise awareness of FSCS protection across all protected products & services, focusing on retirement savings initially.
• Engage with consumers and provide information to help people understand protection and make informed decisions.
• Encourage customers of failed firms to come directly to FSCS with their claim.
• Work with our stakeholders to provide joined-up and easy to access information about FSCS protection.

Prevent

What we are aiming for: We shall collaborate with the regulators and industry to prevent future failure and to reduce future compensation costs.

Why this matters: FSCS compensation costs are rising fast - we project that compensation may rise from £405 million in 2017/18, mainly driven by escalating pensions claims. These costs put pressure on firms' finances and are passed on to consumers.

Our approach:

• Commit to joint action with the regulators and industry to identify and address the root causes of mis‑selling and other conduct issues that drive failure and compensation costs.
• Ensure consumers are alerted more quickly to vulnerabilities and risks as they emerge.
• Work with our partners to improve co‑ordination across government, industry and regulators, ensuring insights and intelligence are generated and acted on.
• Feed back lessons learnt as a creditor and from recoveries activity, including working with the insolvency and insurance markets.
• Develop FSCS' own capability to provide actionable intelligence.