Business Analyst - Banking Domain Job at Purple Drive in Newark

Job Title:

Business Analyst - BFSI Domain

We are seeking an experienced Business Analyst with a strong background in the Banking, Financial Services, and Insurance (BFSI) domain. The ideal candidate will bridge the gap between business needs and technology solutions, ensuring smooth project execution and delivery. You will be responsible for gathering requirements, analyzing processes, and collaborating with cross-functional teams to implement innovative and compliant solutions in the BFSI space.

Key Responsibilities

• Gather, document, and analyze business requirements from stakeholders within the BFSI domain.
• Translate business needs into functional specifications and collaborate with technical teams for implementation.
• Perform gap analysis, impact analysis, and feasibility studies to support decision-making.
• Support end-to-end project lifecycle including requirement gathering, design, testing, and deployment.
• Work with compliance, risk, and regulatory teams to ensure solutions meet industry standards (Basel, AML, KYC, GDPR, etc.).
• Conduct workshops, stakeholder meetings, and requirement elicitation sessions.
• Define and maintain use cases, workflows, process models, and documentation.
• Collaborate with QA teams to ensure requirements traceability and validate deliverables.
• Support UAT (User Acceptance Testing) and provide post-implementation support.

Required Skills & Qualifications

• Bachelor's/Master's degree in Business Administration, Finance, Information Technology, or related field.
• 5-10 years of Business Analyst experience, with at least 5 years in the BFSI domain.
• Strong understanding of banking processes, capital markets, insurance, risk, and compliance frameworks.
• Hands-on experience in requirement gathering, documentation, and stakeholder management.
• Knowledge of Agile, Scrum, and Waterfall methodologies.
• Familiarity with business process modeling tools (BPMN, Visio, Lucidchart, etc.).
• Proficiency in SQL, Excel, and data analysis for requirement validation and reporting.
• Excellent communication, presentation, and problem-solving skills.