Senior Business Analyst-Payments

About RedCompass Labs:

RedCompass Labs: We Know Payments

RedCompass Labs are payments experts focused exclusively on payments modernization. The company works with banks and platform vendors around the world to deliver scheme migrations, platform builds, and large-scale modernization programs faster and with less risk than traditional consulting.

Over the last 23 years, RedCompass Labs has delivered 500+ projects across the worlds major payments schemes and platforms, including SEPA, Swift, the Real-time Payments Network, and FedNow on the scheme side, ISO 20022 migrations, and FIS Open Payments Framework (OPF), Finastra Global PAYplus (GPP), ACI Connetic, and many others on the platform side.

The company's flagship product is the Payments Expert Agent, an AI solution purpose-built for the full payments modernization software development lifecycle. From requirements analysis through development, testing, and deployment.

Its trained on the company's decades of delivery expertise and more than 30,000 curated payments documents. Certified to SOC 2 Type II, the Payments Expert Agent deploys inside the bank's environment and enables modernization teams deliver complex programs faster, at lower cost, and to a higher standard.

In parallel, RedCompass Labs helps banks detect financial crime hidden within payment flows. The RedFlag Accelerator is a global reference for detecting modern slavery, human trafficking, child sexual exploitation, elder abuse, drug trafficking, scams, and authorized push payment fraud. It combines a persona-oriented detection approach with red flags, crime models, and open-source intelligence. The Financial Crime Unit delivers practitioner-grade intelligence and scoring models that support live investigations and law enforcement action.

RedCompass Labs supports clients from offices in London, Warsaw, Brussels, Miami, Boston, Toronto, and Pune. For more information, visit www.redcompasslabs.com.

Role Description

Senior Business Analyst -Payments

Job Location: Baner, Pune

Experience: 10+ years

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 prioritize 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, BRDs, 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 Finastras GPP product, FIS OPF product, Dovetail Payments Platform, ACIs 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 utilize 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:

1. Digital and Omnichannel Banking – Mobile/ Online/ Open Banking
2. Card Payments Processing (issuing, acquiring)
3. Alternative Payment Methods and Payments Innovation (e.g. Bitcoin, E-Wallets, Blockchain)
4. Payments Regulation (e.g. PSD2 – Open Banking, AML regulations,)
5. Fraud detection and prevention in Payments
6. Possibility to define and implement database queries and reports (SQL)

RedCompass Labs India Pvt. Ltd. believes that diversity and inclusion fuel innovation and strengthen collaboration across our teams and with our clients. This commitment is reflected in our approach to equal employment opportunities for all individuals, regardless of race, caste, religion, colour, sex, age, nationality, disability, gender identity, sexual orientation, marital status, military or veteran status, genetic information, or any other characteristic protected by applicable law. All hiring decisions are made solely on the basis of merit, qualifications, and business needs.