Payments Business Analyst

Role Description

This role is to join the SME team within RedCompass specialized in payment implementation and change programs. The SME will support banks using his or her deep understanding of global payments processing and payment eco-systems.

As part of the role the Payments expert will fulfil following tasks:

• Provide overall payments implementation expertise;
• Identify and prioritise key stakeholders, engage and maintain good relationships;
• Understand business situation and drivers for the project and clarify the objectives and scope of the work;
• Develop and evaluate possible solution options and support business to select the solution that is most effective;
• Translate the business needs into business and or functional requirements. Prepare Impact Analysis documentation, BRD’s, Functional specifications, Solution designs, Interface designs, Use cases, Requirements traceability matrices;
• For the requirements engineering and solution design, lead and/or participate in workshops to gather business requirements, review deliverables and secure stakeholder signoffs.
• Define best practices for payment processing;
• Provide clarifications, training and support to both’ RedCompass customers and the internal RedCompass teams;
• Review and recommend test approaches and test plans.

Mandatory Requirements

Domain Knowledge:

• Profound knowledge of payments schemes (SEPA, SCTInst, UKFP, BACS, International payments) and the overall payments eco-system;
• Strong hands on experience with one or more payments processing products like Finastra’s GPP product, FIS’ OPF product, Dovetail Payments Platform, ACI’s Payment Solution;
• Understanding of various Clearing & Settlement Systems (e.g. Euro1, Step2, Target2, BACS, STET, Equens, Bundesbank);
• In-depth knowledge of API’s, SWIFT and/or ISO 20022 payment messages.

BA Skills:

• Understand and be able to utilise key business analysis techniques in BA activities (SWOT, PESTLE analysis, BPM, Use Case Modelling, Data Modelling and Sequence Modelling);
• Good communicator with excellent meeting/workshop facilitation skills;
• Be able to produce the project deliverables that are typically created as part of a payments implementation or payments transformation programme (Functional specifications, Solution designs, Interface designs, Use cases, Requirements traceability matrices);
• Proven experience of designing and / or testing large scale payments applications;
• Excellent English communication skills (written & spoken).

Optional Requirements

• International business analysis or/and project management certification;
• Knowledge of local schemes (UKFP, BACS);
• Good project experience (full system development life cycle) and understanding of at least one key Payments areas:

Digital and Omnichannel Banking – Mobile/ Online/ Open Banking

Card Payments Processing (issuing, acquiring)

Alternative Payment Methods and Payments Innovation (e.g. Bitcoin, E-Wallets, Blockchain)

Payments Regulation (e.g. PSD2 – Open Banking, AML regulations,…)

Fraud detection and prevention in Payments

Possibility to define and implement database queries and reports (SQL)

• Ability to speak other languages (French, Spanish, German,…)

Employment with RedCompass includes the following competitive benefits package:

• Up to 10% of annual earnings as a personal performance bonus
• Medical and dental insurance for you and your family
• Life Insurance
• Group Income Protection
• Private pension programme
• Wellbeing allowance
• 28 days annual holiday, 1 Company holiday day plus Public & Bank holidays
• 7 days of full-paid Sick Leave
• Training budget
• A bright and airy working environment in a brand-new WeWork office in the centre of London, with free snacks and bevereges available

RedCompass Labs is committed to promoting and supporting a diverse and inclusive workplace, ensuring fair and equitable treatment for all. This fuels innovation and enables us to work better together with each other and for our clients.