Hello All ,
Please find attached JD for two sets of requirements 1) RTP (Solutions Architect & Business System Analyst) and 2) Swift ISO2022 (Solutions Architect , Business System Analyst and Tech Lead)
Location: Florham Park, NJ(Onsite)
Please note the pointers for both requirements.
RTP: This requires real time payments experience wherein the person need to have expertise in the payments system flow of THE CLEARING HOUSE (CHIPS ), wherein the client want the solution architect to have enough understanding of the system workflow that he can independently work with on of their payment service provider to map the integration of the payment system with the clearing house.
( This requirement is immediate).
- Real Time Payments: Solutions Architect (1)
- Real Time Payments: Business System Analyst (2)
SWIFT ISO
This requirement is by the end of April max to help in the current ongoing ISO20022 format changes in SWIFT which is planned to go live in November 2025. The Solution architect should be able to work on the overall ongoing planning and execution of the ISO20022 project transition.
- Swift ISO Payments: Solutions Architect (1)
- Swift ISO Payments: Business System Analyst (2)
- Swift ISO Payments: Tech lead (1)
Job Title: Business Analyst – SWIFT ISO 20022 Changes /
Location: Florham Park, NJ 07932 (Onsite role)
Duration: 12 months
Work Mode: onsite role
About the Role:
We are seeking a skilled and experienced Business Analyst with expertise in SWIFT ISO 20022 format changes. This role will focus on mapping business requirements to the recent changes and enhancements to the ISO 20022 standard, particularly in the context of SWIFT payments. You will play a crucial role in ensuring that payment system upgrades or transitions are aligned with these changes, helping the organization stay ahead of evolving payment messaging standards.
As a Business Analyst, you will analyze, document, and translate business requirements into actionable technical specifications and solutions. This position requires deep expertise in SWIFT messaging standards, ISO 20022 updates, and their impact on global payment systems.
Key Responsibilities:
- ISO 20022 Change Management: Analyze and document the latest changes to the SWIFT ISO 20022 messaging standard, particularly the updates affecting transaction types, formats, and fields, and translate these changes into actionable requirements.
- Mapping Requirements to ISO 20022: Gather, analyze, and map business requirements related to ISO 20022 changes, ensuring that payment systems and business processes are fully aligned with the new standards and protocols.
- SWIFT Messaging Expertise: Apply in-depth knowledge of SWIFT payment messaging, including MT to MX transition, and ensure seamless integration with internal systems and third-party platforms.
- Business Process Analysis: Analyze existing payment workflows, identifying areas that require updates or enhancements due to the new ISO 20022 changes. Create and update business process flows (BPMN, UML) to align with the updated messaging formats.
- Functional Specifications: Develop detailed functional specifications and documentation for the changes, including new message structures, fields, and data elements in accordance with SWIFT ISO 20022.
- Stakeholder Collaboration: Engage with key stakeholders, including product managers, technical teams, compliance officers, and external partners, to ensure alignment on ISO 20022 changes and their impact on payment systems.
- System Integration: Work with technical teams to ensure the successful implementation of changes to payment platforms, including system integration, mapping of message fields, and validation of message processing capabilities.
- Regulatory and Compliance Impact: Understand and assess the impact of ISO 20022 changes on compliance requirements, including regulatory reporting, anti-money laundering (AML), and data privacy laws.
- Training and Documentation: Support the creation of training materials and user documentation to guide teams on the new SWIFT ISO 20022 changes and help users understand the updated processes.
- Reporting & Analytics: Provide regular updates and reports to stakeholders regarding the progress of ISO 20022 changes and their impact on business operations, highlighting any risks or issues that may arise during the transition.
Key Requirements:
- Experience:
- 5+ years of experience as a Business Analyst, with a focus on payment systems, particularly with SWIFT ISO 20022.
- Proven experience with the SWIFT messaging system, including knowledge of MT and MX messages and the transition to ISO 20022.
- ISO 20022 Expertise:
- Deep understanding of the ISO 20022 standard and its evolution, including the latest changes to the SWIFT ISO 20022 format and messaging specifications.
- Expertise in mapping business requirements to the new ISO 20022 messaging structure, including message types, fields, and transaction flows.
- SWIFT Payments Knowledge:
- Strong knowledge of SWIFT payment systems, including the MT and MX message types, and their implementation in real-time payments and financial messaging.
- Familiarity with SWIFT's ISO 20022 migration roadmap and its impact on global payments.
- Business Analysis Skills:
- Strong skills in requirements gathering, functional specification writing, and business process modeling (BPMN, UML).
- Experience in translating complex business and technical requirements into clear, actionable documentation for development and implementation.
- Compliance & Regulatory Understanding:
- Knowledge of regulatory requirements related to payments systems, including AML, KYC, GDPR, and other industry standards.
- Understanding of how ISO 20022 changes align with regulatory reporting and compliance requirements for financial institutions.
- Analytical & Problem-Solving Skills:
- Strong analytical skills to evaluate changes in the ISO 20022 standard and assess their business impact, identifying and solving issues efficiently.
- Ability to troubleshoot and resolve issues related to SWIFT message processing and formatting.
Preferred Qualifications:
- Experience in working on global payments and understanding multi-currency and cross-border payment environments.
- Familiarity with emerging trends in payment systems, such as blockchain and digital currencies, and how they may interact with ISO 20022 messaging.
Job Title: Business Analyst – Payment Systems (ISO 20022, FED/CHIPS/SWIFT)
Location: Florham Park, NJ 07932 (Onsite role)
Duration: 12 months
Work Mode: onsite role
About the Role:
We are looking for a highly experienced Business Analyst with extensive knowledge and hands-on experience in ISO 20022, FED (Federal Reserve), CHIPS (Clearing House Interbank Payments System), and payment systems. In this role, you will collaborate closely with business and technology teams to define and translate business requirements into functional specifications, helping to implement and enhance real-time payment solutions.
As a Business Analyst, you will be responsible for analyzing payment system processes, gathering requirements, and ensuring that solutions meet business needs while aligning with industry standards and regulatory guidelines.
Key Responsibilities:
- Requirements Gathering: Work closely with business stakeholders to gather and document detailed requirements for payment system solutions, particularly around FED, CHIPS, and ISO 20022 formats.
- ISO 20022 Expertise: Leverage your deep knowledge of the ISO 20022 messaging format to define, document, and ensure proper integration with payment systems like FED, CHIPS and SWIFT
- Functional Analysis: Analyze existing payment systems and recommend improvements or enhancements based on business needs and industry best practices, especially with regard to real-time payments.
- Business Process Mapping: Create process flows, business models, and workflows to ensure that payment systems are aligned with organizational objectives and regulatory standards.
- System Integration Support: Work with technical teams to translate business requirements into functional specifications, facilitating the integration of payment systems with other banking platforms, core systems, and third-party services.
- Compliance & Regulatory Analysis: Ensure that payment solutions are compliant with regulatory requirements, including those around real-time payments, anti-money laundering (AML), and data privacy laws (GDPR, PCI DSS).
- Stakeholder Communication: Serve as a bridge between business and technical teams, ensuring effective communication and understanding of requirements, issues, and solution delivery.
- Testing & Validation: Assist with UAT (User Acceptance Testing) and validate that the implemented solution meets business expectations, especially in regard to payment message formats and functionality.
- Documentation: Maintain clear and comprehensive documentation, including functional specifications, business process flows, and detailed reporting for stakeholders.
- Reporting & Analytics: Provide regular updates and reports to stakeholders on project progress, risks, and issues related to payment system enhancements or integrations.
Key Requirements:
- Experience:
- 5-8 years of experience as a Business Analyst with a focus on payment systems, particularly with hands-on experience in ISO 20022, FED, CHIPS and SWIFT.
- Demonstrated experience in defining business requirements for payment systems, including real-time payment processing.
- ISO 20022 Expertise:
- Deep functional knowledge of the ISO 20022 standard and its implementation in payment systems, including message formats, transaction flows, and integration.
- Practical experience with ISO 20022-based systems and protocols in both domestic and international payment environments.
- Payment Systems Knowledge:
- Solid understanding of real-time payment networks such as FED, CHIPS, SWIFT, and other banking payment infrastructures.
- Familiarity with payment processing regulations and standards such as ISO 8583, PCI DSS, AML, and GDPR.
- Business Analysis Skills:
- Strong skills in requirements gathering, functional specifications, and business process modeling (BPMN, UML, etc.).
- Ability to communicate complex business and technical concepts to non-technical stakeholders and senior management.
- Analytical & Problem-Solving Skills:
- Strong analytical skills to evaluate and improve payment system processes, identify bottlenecks, and suggest practical solutions to meet business objectives.
Preferred Qualifications:
- Experience with payment systems modernization, such as transitioning from legacy payment networks to ISO 20022-based platforms.
- Exposure to global payment systems and multi-currency environments.
- Knowledge of emerging payment trends, such as blockchain and digital currencies, and their potential impact on traditional payment systems.
Thanks & Regards,
Subbareddy Kandula| Lead Recruiter – Delivery
E: subba.reddy@varite.com
VARITE, INC | www.varite.com | Careers @ VARITE
1871 The Alameda, Suite 120, San Jose, CA 95126
Entrepreneur Magazine's HOT 500 | INC 5000 | Staffing Industry Analysts 100 Fastest Growing Company
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