Business Analyst

Job Title: Business Analyst Payments (Capital Markets)

Location:
Glasgow

Role Overview

A Business Analyst in Payments (Capital Markets) operates at the intersection of:

• Trading systems
• Settlement processes
• Banking & payment infrastructure

The role involves translating business requirements from traders, operations, and treasury teams into functional and technical solutions that enable secure and efficient cash movement linked to securities transactions.

Hybrid working:

The places that you work from day to day will vary according to your role, your needs, and those of the business; it will be a blend of Company offices, client sites, and your home; noting that you will be unable to work at home 100% of the time.

Your Role

Requirement Gathering & Analysis

• Capture requirements related to:
  • Trade settlement payments (DvP, PvP)
  • Margin payments (Initial & Variation Margin)
  • Corporate actions (dividends, coupons)
• Collaborate with:
  • Front Office Traders
  • Operations Teams
  • Treasury & Liquidity Teams

Process Mapping

• Map end-to-end lifecycle:
  • Trade Clearing Settlement Cash Movement
• Create:
  • As-Is and To-Be process flows
• Design payment workflows:
  • RTGS (Real-Time Gross Settlement)
  • Net Settlement

Functional Specifications

• Document:
  • BRDs (Business Requirement Documents)
  • FRDs (Functional Requirement Documents)
  • User Stories
• Define:
  • Payment flows
  • SWIFT messages (MT/MX)
  • Netting logic
  • Settlement instructions

System Analysis

• Work with systems such as:
  • Payment platforms (RTGS, SWIFT gateways)
  • Clearing systems (CCPs)
  • Custody/CSD platforms
• Define:
  • Data mappings
  • Trade-to-settlement payment instructions

Testing & Validation

• Support:
  • SIT (System Integration Testing)
  • UAT (User Acceptance Testing)
• Validate:
  • Payment accuracy
  • Settlement completeness
  • Reconciliation processes

Stakeholder Management

• Act as a liaison between:
  • IT Teams
  • Business Users
  • External parties (Custodians, Clearing Houses)

Your Job

Capital Markets Knowledge

• Trade lifecycle (T, T+1, T+2)
• Asset classes:
  • Equities
  • Bonds
  • Derivatives
• Clearing & Settlement:
  • CCP (Central Counter party)
  • CSD (Central Securities Depository)

Payments Knowledge

• Payment types:
  • RTGS (Real-Time Gross Settlement)
  • Net Settlement
• Messaging standards:
  • SWIFT MT (e.g., MT103, MT202)
  • ISO 20022 (MX messages)
• Key concepts:
  • Nostro / Vostro Accounts
  • Liquidity Management

C. Risk & Controls

• DvP (Delivery vs Payment)
• Settlement risks:
  • Herstatt Risk
• Reconciliation and exception handling

Key Skills

Functional Skills

• Business Analysis & Requirement Documentation
• Process Modelling (BPMN, Visio)
• Payments & Settlement Knowledge

Technical Skills (Nice to Have)

• SQL / Data Analysis
• APIs & Payment Integrations
• Understanding of:
  • SWIFT Interfaces
  • Payment Engines

We are a Disability Confident Employer:

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