Job Description:
Job Title: Remittance Business Analyst (BA)
Location: Mumbai
Department: Payments / IT
Experience: 5-10 years
Reports To: Project Manager / Head of Remittances
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.
Required Skills and Qualifications
• Bachelor’s degree in Finance, Business, Engineering, or related field. MBA or
relevant certifications (e.g., CAMS, CBAP) preferred.
• 5 + years of experience as a Business Analyst, preferably in banking, fintech, or
payment domains.
• 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).
Preferred Qualifications
• 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.
