Business Analyst (Payment)
Summary: We are seeking a Business Analyst specializing in Payments within Capital Markets to join our team. The role involves translating business needs into functional and technical solutions, focusing on trading systems, settlement processes, and banking/payment infrastructure. The position is based in Glasgow and requires 2-3 days on-site work. The successful candidate will engage with various teams, including Front Office, Operations, and Treasury, to gather requirements, map processes, and support testing and validation. A strong understanding of capital markets, payment types, and relevant messaging standards is essential for this role.
We are a Global Recruitment specialist that provides support to the clients across EMEA, APAC, US and Canada. We have an excellent job opportunity for you.
Role Title: Business Analyst (Payment)
Location: Glasgow
Duration: 31/12/2026
Days on site: 2-3
Rate: £313 per day all inc. (PAYE through Umbrella)
Role Description:
A Business Analyst in Payments (Capital Markets) works at the intersection of:
Trading systems
Settlement processes
Banking/payment infrastructure
They translate business needs (from traders, operations, treasury) into functional and technical solutions that enable safe, efficient cash movement linked to securities transactions.
Core Responsibilities:
Requirement Gathering & Analysis
Capture requirements for:
Trade settlement payments (DvP, PvP)
Margin payments (initial & variation margin)
Corporate actions (dividends, coupons)
Engage with:
Front Office (traders)
Operations teams
Treasury/liquidity teams
Process Mapping
Map end-to-end life cycle:
Trade/Clearing/Settlement/Cash movement
Create:
Process flows (As-Is/To-Be)
Payment workflows (RTGS, net settlement)
Functional Specifications
Document:
BRDs/FRDs/User Stories
Define:
Payment flows (SWIFT MT/MX messages)
Netting logic
Settlement instructions
1. System Analysis
Work on systems like:
Payment platforms (RTGS, SWIFT gateways)
Clearing systems (CCPs)
Custody/CSD platforms
Define data mappings:
Trade settlement payment instruction
2. Testing & Validation
Support:
SIT (System Integration Testing)
UAT (User Acceptance Testing)
Validate:
Payment accuracy
Settlement completeness
Reconciliation
3. Stakeholder Management
Liaise between:
IT teams
Business users
External parties (custodians, clearing houses)
Domain Knowledge Required
Capital Markets Understanding
Trade life cycle (T, T+1, T+2)
Asset classes:
Equities, bonds, derivatives
Clearing & settlement concepts:
CCP (Central Counterparty)
CSD (Central Securities Depository)
Payments Knowledge
Payment types:
RTGS (Real Time gross settlement)
Net settlement
Messaging standards:
SWIFT MT (eg, MT103, MT202)
ISO 20022 (MX messages)
Concepts:
Nostro/Vostro accounts
Liquidity management
C. Risk & Controls
DvP (Delivery vs Payment)
Settlement risk/Herstatt risk
Reconciliation & exception handling
Key Skills
Functional Skills
Business analysis (requirements, documentation)
Process modelling (BPMN, Visio)
Payments & settlement knowledge
Technical Skills (nice to have)
SQL/data analysis
APIs & payment integrations
Understanding of:
SWIFT interface
Payment engines
If you are interested in this position and would like to learn more, please send through your CV and we will get in touch with you as soon as possible. Please note, candidates are often Shortlisted within 48 hours.
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