Senior Business Analyst ? Payments

Persistent Systems Limited; Pune District; Hybrid; INR 2,500,000 - 4,000,000; Full time

Benefits offered by this job

Group term life

Mediclaim hospitalization

Long Service awards

Flexible work hours

Job summary

Persistent Systems Limited in Pune seeks an experienced Senior Business Analyst with deep Payments domain expertise to drive payment modernization initiatives, including SWIFT MT to MX migration and ISO 20022 adoption. You will collaborate with business, product, and technology teams to define requirements, processes, and critical workstreams.

The role requires strong analytical skills, stakeholder management, and hands-on experience in payments modernization programs.

Qualifications

• Bachelor's degree in Finance, Banking, IT, Business Administration, Engineering, or related discipline.
• 10-15 years of experience as a Business Analyst within Banking/Financial Services.
• Strong expertise in Payments and Transaction Banking domains.
• Extensive experience with Cross-Border Payments and Correspondent Banking operations.
• Deep understanding of Payment Modernization programs and migration initiatives.
• Knowledge of ISO 20022 standards, message structures, and migration initiatives.
• Experience supporting MT to MX migration projects.
• Familiarity with real-time payments, cross-border payments, and correspondent banking models.

Responsibilities

• Gather, analyze, and document business requirements for payments and banking transformation initiatives.
• Collaborate with stakeholders, operations, product, and technology teams to define functional and non-functional requirements.
• Support payment modernization programs involving SWIFT transformation and ISO 20022 migration.
• Analyze payment workflows and recommend process improvements and optimization opportunities.
• Create BRDs, FRDs, user stories, use cases, and process flows.
• Work with SWIFT MT and SWIFT MX message formats.
• Support CBPR+ implementation and compliance initiatives.
• Lead requirement workshops, sessions, and solution discussions.
• Define business rules, validation requirements, and payment processing workflows.
• Collaborate with development and testing teams throughout SDLC.
• Support system integration testing, UAT, and business validation.
• Perform gap analyses and impact assessments for payment transformation initiatives.
• Assist MT to MX transformation and migration activities.
• Ensure alignment between business needs and delivered solutions.
• Support cross-border payment and correspondent banking solutions.
• Create process docs, SOPs, and training materials.
• Provide regular project updates and BA insights to leadership.
• Support regulatory, compliance, and operational requirements related to payments processing.

Skills

SWIFT MT/MX

ISO 20022

CBPR+

Cross-border payments

BRD/FRD documentation

Stakeholder management

UAT support

Agile/Scrum/Waterfall

Education

Bachelor's degree in Finance or related field

Job description

We are an AI-led, platform-driven Digital Engineering and Enterprise Modernization partner, combining deep technical expertise and industry experience to help our clients anticipate what's next. Our offerings and proven solutions create a unique competitive advantage for our clients by giving them the power to see beyond and rise above. We work with many industry-leading organizations across the world, including 20 Fortune 50 companies and 4 of the 5 top banks in both the US and India, and numerous innovators across the healthcare ecosystem.

We are seeking an experienced Senior Business Analyst with deep expertise in the Payments and Banking domain to support strategic payment modernization and transformation initiatives. The ideal candidate will possess strong knowledge of SWIFT messaging standards, ISO 20022, CBPR+, and cross-border payment processes. This role will be responsible for collaborating with business stakeholders, product teams, and technology teams to analyze business requirements, define future-state processes, support payment transformation programs, and ensure successful delivery of enterprise payment solutions. The successful candidate will play a key role in driving payment modernization initiatives including SWIFT MT to MX migration and ISO 20022 adoption programs.

• Role: Senior Business Analyst ? Payments
• Experience: 10 to 15 Years
• Job Type: Full-Time Employment

What You’ll Do:

• Gather, analyze, and document business requirements for payments and banking transformation initiatives.
• Collaborate with business stakeholders, operations teams, product managers, and technology teams to define functional and non-functional requirements.
• Support payment modernization programs involving SWIFT transformation and ISO 20022 migration initiatives.
• Analyze existing payment workflows and recommend process improvements and optimization opportunities.
• Develop Business Requirement Documents (BRDs), Functional Requirement Documents (FRDs), user stories, use cases, and process flows.
• Work extensively with SWIFT MT and SWIFT MX message formats.
• Support CBPR+ implementation and compliance initiatives.
• Facilitate workshops, requirement gathering sessions, stakeholder meetings, and solution discussions.
• Define business rules, validation requirements, and payment processing workflows.
• Collaborate with development and testing teams throughout the software development lifecycle.
• Support system integration testing, user acceptance testing, and business validation activities.
• Perform gap analysis and impact assessments for payment transformation initiatives.
• Assist in MT to MX message transformation and migration activities.
• Ensure alignment between business requirements and delivered solutions.
• Support implementation of cross-border payment and correspondent banking solutions.
• Create business process documentation, operating procedures, and training materials.
• Provide regular project updates and business analysis insights to leadership teams.
• Support regulatory, compliance, and operational requirements related to payments processing.

Expertise You’ll Bring:

• Bachelor's degree in Finance, Banking, Information Technology, Business Administration, Engineering, or a related discipline.
• 10-15 years of experience as a Business Analyst within Banking and Financial Services organizations.
• Strong expertise in Payments and Transaction Banking domains.
• Extensive experience supporting Cross-Border Payments and Correspondent Banking operations.
• Deep understanding of Payment Modernization programs and payment transformation initiatives.
• Strong knowledge of SWIFT MT and SWIFT MX message standards.
• Hands-on experience with CBPR+ implementation programs.
• Strong understanding of ISO 20022 standards, message structures, and migration initiatives.
• Experience supporting SWIFT transformation and global payment modernization programs.
• Strong knowledge of payment processing lifecycles and settlement processes.
• Understanding of payment message transformation and interoperability requirements.
• Experience supporting MT to MX migration projects.
• Familiarity with real-time payments, cross-border payments, and correspondent banking models.
• Strong experience in requirements gathering, process analysis, and business process modeling.
• Ability to translate complex business requirements into functional specifications.
• Experience supporting UAT, business validation, and production implementation activities.
• Strong stakeholder management and relationship-building capabilities.
• Excellent communication, presentation, and facilitation skills.
• Experience working with global banking stakeholders and distributed teams.
• Strong analytical thinking, problem-solving, and decision-making skills.
• Knowledge of Agile, Scrum, and Waterfall delivery methodologies.
• Experience working in large-scale banking transformation programs is highly preferred.
• Competitive salary and benefits package
• Culture focused on talent development with quarterly growth opportunities and company-sponsored higher education and certifications
• Opportunity to work with cutting-edge technologies
• Employee engagement initiatives such as project parties, flexible work hours, and Long Service awards
• Insurance coverage: group term life, personal accident, and Mediclaim hospitalization for self, spouse, two children, and parents

Values-Driven, People-Centric & Inclusive Work Environment:

Persistent is dedicated to fostering diversity and inclusion in the workplace. We invite applications from all qualified individuals, including those with disabilities, and regardless of gender or gender preference. We welcome diverse candidates from all backgrounds.

• We support hybrid work and flexible hours to fit diverse lifestyles.
• Our office is accessibility-friendly, with ergonomic setups and assistive technologies to support employees with physical disabilities.
• If you are a person with disabilities and have specific requirements, please inform us during the application process or at any time during your employment

?Persistent is an Equal Opportunity Employer and prohibits discrimination and harassment of any kind.?

Location:

PUNE