Business Analyst

Job Requirements

Job Title: Business Analyst - Remittance

Location: Mumbai

Department: Information Technology

Experience: 5-10 years

Job Summary

We are seeking a skilled and analytical Business Analyst to support and drive remittance-related initiatives (both domestic and cross-border). The candidate will be responsible for gathering business requirements, defining payment and compliance workflows, and collaborating with internal and external stakeholders to build scalable, compliant, and customer-centric remittance solutions.

Key Responsibilities

• Work closely with product managers, compliance, operations, and technology teams to define and document business requirements for new remittance features and enhancements.
• Analyze end-to-end remittance flows: Inward and Outward Remittances, P2P, B2B, and B2C payment models.
• Support integration with correspondent banks, MTOs (Money Transfer Operators), payment aggregators, or SWIFT gateways.
• Create detailed BRDs, FRDs, Use Cases, User Journeys, and Data Flow Diagrams.
• Ensure compliance with local (RBI, FEMA) and global regulatory requirements (FATF, OFAC, AML/KYC).
• Participate in testing (UAT, SIT) and validate product features meet business requirements.
• Support reconciliation, chargeback, and settlement workflows for remittance operations.
• Monitor transaction performance, TATs, and investigate drop-offs or failures.
• Track global remittance trends, regulatory updates, and competition benchmarking.
• Strong understanding of domestic and cross-border remittance processes, SWIFT, NEFT, RTGS, IMPS, UPI, or FX payment rails.
• Familiarity with compliance topics like AML screening, KYC, transaction monitoring, and sanction checks.
• Experience documenting business processes, rules, and APIs.
• Strong communication and stakeholder management skills.
• Hands-on experience with tools such as JIRA, Confluence, Excel, Postman (for API testing), and SQL (basic).
• Experience with platforms like SWIFT, Ripple, MoneyGram, Western Union, Wise, or any remittance systems.
• Understanding of mobile/web-based remittance solutions and customer onboarding.
• Exposure to remittance use cases like NRIs sending money to India, freelancers receiving foreign income, SME FX transfers, etc.
• Knowledge of ISO 20022 and XML/MT message structures.