Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Join our SME team to support banks with payment implementation and change programs.
- Company: RedCompass specializes in payment solutions and fosters a diverse, inclusive workplace.
- Benefits: Enjoy competitive perks like a performance bonus, medical insurance, and 28 days of holiday.
- Why this job: Be part of a dynamic team driving innovation in global payments processing.
- Qualifications: Deep knowledge of payment schemes and strong business analysis skills are essential.
- Other info: Work in a vibrant WeWork office in London with free snacks and beverages.
The predicted salary is between 36000 - 60000 £ per year.
Get AI-powered advice on this job and more exclusive features.
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 the 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 APIs, 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;
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 area:
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)
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
- 28 days annual holiday, 1 Company holiday day plus Public & Bank holidays
- 7 days of full-paid Sick Leave
- A bright and airy working environment in a brand-new WeWork office in the centre of London, with free snacks and beverages 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.
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Analyst and Consulting
#J-18808-Ljbffr
Payments Business Analyst employer: RedCompass Labs
Contact Detail:
RedCompass Labs Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Payments Business Analyst
✨Tip Number 1
Make sure to familiarize yourself with the specific payment schemes mentioned in the job description, such as SEPA and SCTInst. Understanding these will not only help you during interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Engage with professionals in the payments industry through networking events or online forums. This can provide you with insights into current trends and challenges, which you can discuss during your interview to show your proactive approach.
✨Tip Number 3
Prepare to discuss your experience with payments processing products like Finastra’s GPP or ACI’s Payment Solution. Be ready to share specific examples of how you've utilized these tools in past projects.
✨Tip Number 4
Brush up on your business analysis techniques, especially those relevant to payments implementation. Being able to articulate how you would apply SWOT or PESTLE analysis in this context can set you apart from other candidates.
We think you need these skills to ace Payments Business Analyst
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Payments Business Analyst position. Highlight the key responsibilities and required skills, and think about how your experience aligns with them.
Tailor Your CV: Customize your CV to reflect your relevant experience in payments processing and business analysis. Use specific examples that demonstrate your knowledge of payment schemes and your ability to produce project deliverables.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the payments industry and your understanding of the role. Mention any relevant certifications or experiences that make you a strong candidate for this position.
Highlight Communication Skills: Since excellent communication skills are essential for this role, ensure that your application reflects your ability to facilitate meetings and workshops. Provide examples of how you've successfully engaged stakeholders in past projects.
How to prepare for a job interview at RedCompass Labs
✨Showcase Your Payments Knowledge
Make sure to highlight your deep understanding of global payments processing and the various payment schemes. Be prepared to discuss specific experiences with products like Finastra’s GPP or FIS’ OPF, as this will demonstrate your expertise in the field.
✨Engage Stakeholders Effectively
Discuss your experience in identifying and prioritizing key stakeholders. Share examples of how you've maintained good relationships and engaged with them throughout a project, as this is crucial for the role.
✨Demonstrate Your BA Skills
Be ready to talk about your proficiency in business analysis techniques such as SWOT, PESTLE, and Use Case Modelling. Providing concrete examples of how you've applied these techniques in past projects will strengthen your candidacy.
✨Prepare for Technical Discussions
Since the role involves understanding APIs and payment messages like SWIFT and ISO 20022, brush up on these topics. Be prepared to discuss how you've utilized these technologies in previous roles or projects.
