What are the responsibilities and job description for the Business Analyst - Cash IBS position at Avance Consulting?
Role: Business Analyst - Cash IBS
Location: Quincy, MA - Hybrid
Job Description
The Business Analyst will play a key role in supporting the banks payments modernization and ISO 20022 migration initiatives.
The role involves gathering business requirements, analyzing payment workflows, ensuring compliance with ISO 20022 standards, and supporting integration with accounting and financial systems.
The analyst will act as a bridge between business stakeholders, technology teams, and external vendors to ensure seamless implementation and operational efficiency.
Key Responsibilities
Analyze and document current-state payment processes, message flows (SWIFT MT to MX), and accounting interfaces.
Define business and functional requirements for ISO 20022 migration across domestic and cross-border payment systems (RTGS, ACH, SWIFT).
Work closely with operations, finance, and IT teams to ensure alignment between payment messages and accounting entries in the banks general ledger or sub-ledger systems.
Conduct data mapping and gap analysis between legacy MT messages and new ISO 20022 MX formats.
Support end-to-end testing (UAT, SIT) for message transformations, reconciliations, and accounting postings.
Liaise with vendors, network providers, and regulatory bodies to ensure compliance with global and regional ISO 20022 mandates.
Develop and maintain detailed process documentation, use cases, and data flow diagrams.
Provide business support during implementation, including troubleshooting message validation and accounting integration issues.