Senior Business Analyst – Payments

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

Benefits offered by this job

Group term life insurance

Personal accident coverage

Mediclaim hospitalization

Hybrid work model

Long Service awards

Job summary

Persistent Systems is seeking a Senior Business Analyst specializing in Payments and Banking to drive modernization initiatives, including SWIFT MT to MX migration and ISO 20022 adoption. You will collaborate with diverse teams to translate complex requirements into functional specs and ensure successful delivery of enterprise payment solutions.

You will engage in workshops, document BRDs/FRDs, and guide testing phases like UAT, ensuring alignment with regulatory and operational needs.

Qualifications

• Bachelor's degree in Finance, Banking, Information Technology, Business Administration, Engineering, or related discipline.
• 10–15 years of BA experience in Banking/FS organizations.
• Strong expertise in Payments and Transaction Banking domains.
• Extensive experience in Cross-Border Payments and Correspondent Banking operations.
• Deep understanding of Payment Modernization programs and transformation initiatives.
• Strong knowledge of SWIFT MT and SWIFT MX message standards.
• Hands-on CBPR+ implementation experience.
• Knowledge of ISO 20022 standards, structures, and migration initiatives.
• Experience supporting MT to MX migration projects.
• Experience in real-time, cross-border payments and interoperable messaging.

Responsibilities

• Gather, analyze, and document business requirements for payments and banking transformation initiatives.
• Collaborate with stakeholders, 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 identify process improvements.
• Create BRDs, FRDs, user stories, use cases, and process flows.
• Work with SWIFT MT and MX formats throughout delivery.
• Support CBPR+ implementation and compliance.
• Facilitate workshops and requirement sessions with stakeholders.
• Define business rules, validation requirements, and payment processing workflows.
• Assist in system integration testing, UAT, and production validation.
• Perform gap analyses and impact assessments for transformation initiatives.
• Support MT to MX migration activities and cross-border solutions.
• Provide regular updates and BA insights to leadership.

Skills

Payments domain knowledge

SWIFT MT/MX

ISO 20022

CBPR+

Cross-border payments

Requirements gathering

BRD/FRD creation

Stakeholder management

UAT & validation

Agile/Waterfall

Education

Bachelor's degree in Finance/Banking/IT

Job description

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."