Job Description - IT Business Analyst (BFSI)

Position: IT Business Analyst

Industry: Banking, Financial Services & Insurance (BFSI)

Employment Type: Full-Time

Experience: 4-8 Years (Preferred)

Location: As per Business Requirement

Job Summary

A renowned BFSI organization is seeking an experienced IT Business Analyst to bridge the gap between business and technology teams. The ideal candidate will be responsible for gathering and analyzing business requirements, supporting project implementation, conducting application testing, ensuring compliance with quality standards, and providing ongoing support to business users. The role requires strong stakeholder management, analytical thinking, and experience in banking or financial services applications.

Key Responsibilities

- Work closely with the Project Manager to understand and document business requirements across Retail and Corporate Banking verticals.

- Analyze business processes and recommend technology-driven solutions.

- Prepare detailed Business Requirement Documents (BRD), Functional Requirement Documents (FRD), user stories, and process workflows.

- Coordinate with development, QA, and business teams throughout the project lifecycle.

- Develop and execute test plans, test cases, and support User Acceptance Testing (UAT).

- Validate system enhancements and ensure solutions meet business expectations.

- Maintain documentation in accordance with organizational quality standards.

- Monitor project deliverables, response times, and customer satisfaction metrics.

- Collaborate with internal and external stakeholders to ensure timely project execution.

- Support application maintenance, issue resolution, and end-user assistance.

- Participate in application audits, compliance reviews, and risk assessments.

- Coordinate with vendors and third-party service providers for application support and enhancements.

- Develop and maintain knowledge repositories, user manuals, and process documentation.

- Ensure adherence to organizational governance, security, and regulatory compliance standards.

Required Skills & Competencies

- Strong understanding of Business Analysis methodologies and SDLC.

- Experience in Retail Banking, Corporate Banking, Insurance, NBFC, or Financial Services applications.

- Excellent requirement gathering and documentation skills.

- Hands-on experience in UAT, SIT, test planning, and defect management.

- Strong stakeholder and vendor management capabilities.

- Excellent analytical, problem-solving, and critical thinking skills.

- Ability to manage multiple priorities in a fast-paced environment.

- High attention to detail and commitment to quality.

- Strong verbal and written communication skills.

- Knowledge of Agile, Scrum, or Waterfall project methodologies.

Key Competencies

- Business Analysis

- Requirement Gathering

- Stakeholder Management

- Quality Assurance

- Application Testing

- Problem Solving

- Critical Thinking

- Documentation

- Vendor Management

- Resource Management

- Customer Focus

- Compliance & Audit

- Communication & Collaboration

This role is ideal for professionals who can effectively translate business needs into technology solutions while ensuring high-quality project delivery and seamless collaboration across business and IT teams