Our client is seeking an experienced Contract Business Systems Analyst (BSA) with deep expertise in payments, ISO 20022, and payments modernization initiatives to support a large-scale transformation program within a financial services environment.

The successful candidate will combine strong business analysis capabilities with in-depth knowledge of payment systems, payment message standards, and payments data. This role requires the ability to bridge business, operations, technology, and data teams while supporting complex payment initiatives involving high-value payments, retail payments, and ISO 20022 migration activities.

Key Responsibilities

• Lead requirements gathering sessions with business, operations, technology, and data stakeholders.
• Develop and maintain business requirements documents (BRDs), functional specifications, user stories, acceptance criteria, and process documentation.
• Perform current-state and future-state process analysis and mapping.
• Conduct gap analysis and support solution design activities.
• Maintain end-to-end traceability of requirements throughout the project lifecycle.
• Collaborate closely with development, architecture, QA, and data teams to ensure successful solution delivery.
• Support payments transformation and modernization initiatives.
• Analyze payment workflows, message formats, integrations, and data flows.
• Participate in testing, validation, and implementation activities.

Required Experience

Business Systems Analysis

• Extensive experience as a Business Systems Analyst within financial services environments.
• Strong requirements elicitation, documentation, and stakeholder management skills.
• Experience developing:
  • Business Requirements Documents (BRDs)
  • Functional Specifications
  • User Stories
  • Acceptance Criteria
  • Process Maps
• Strong experience facilitating discussions between business stakeholders and technical teams.

High-Value Payments

Working knowledge of high-value payment systems and settlement processes, including:

• Lynx
• LVTS
• SWIFT correspondent banking payments
• Real-Time Gross Settlement (RTGS) concepts
• Payment settlement and liquidity management
• Payment message and transaction lifecycle flows

Experience with international payment systems is considered an asset, including:

• Fedwire
• CHAPS
• TARGET2

Canadian Payments

Experience with Canadian payment ecosystems including:

• Interac e-Transfer
• ACSS
• Retail payment processing
• Real-Time Rail (RTR) concepts
• Understanding of the differences between retail and high-value payment processing models

ISO 20022 Expertise (Critical Requirement)
Candidates must demonstrate strong hands-on experience with ISO 20022 payment messaging standards, including:
Message Families

• pacs (Payments Clearing & Settlement)
• pain (Customer Initiated Payments)
• camt (Cash Management & Reporting)

Data Expertise

• Structured party information
• Legal Entity Identifiers (LEIs)
• Purpose codes
• Structured remittance information
• Agent and account identification
• Data quality management
• Message enrichment and transformation
• Truncation handling
• MT-to-MX migration initiatives

Experience supporting data mapping, data lineage, and message transformation activities is highly desirable.
Payments Data Experience

• Payments data models and data structures
• Data mapping and transformation
• Validation and reconciliation processes
• Data quality controls
• Reporting and analytics on payment flows
• Integration and interface analysis

Preferred Qualifications

• Experience supporting ISO 20022 migration programs.
• Experience working with Payments Canada initiatives.
• Experience within large financial institutions.
• Exposure to payment hub implementations or modernization programs.
• Experience supporting Agile delivery teams.
• Familiarity with API-based payment architectures.

Ideal Candidate

The successful candidate will be a strong Business Systems Analyst with a deep understanding of payments and payment data. You will be comfortable discussing business requirements with stakeholders while also engaging technical teams on message formats, integrations, data mapping, and payment processing workflows.
Candidates with hands-on ISO 20022 migration experience, particularly those who have worked on MT-to-MX transformations and payments data initiatives, will be highly regarded.

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