Position Title: Business Analyst – SWIFT ISO 20022 Changes
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:
o 5+ years of experience as a Business Analyst, with a focus on payment systems,
particularly with SWIFT ISO 20022.
o Proven experience with the SWIFT messaging system, including knowledge of
MT and MX messages and the transition to ISO 20022.

 ISO 20022 Expertise:
o Deep understanding of the ISO 20022 standard and its evolution, including the
latest changes to the SWIFT ISO 20022 format and messaging specifications.
o Expertise in mapping business requirements to the new ISO 20022 messaging
structure, including message types, fields, and transaction flows.

 SWIFT Payments Knowledge:
o Strong knowledge of SWIFT payment systems, including the MT and MX
message types, and their implementation in real-time payments and financial
messaging.
o Familiarity with SWIFT's ISO 20022 migration roadmap and its impact on global
payments.
 Business Analysis Skills:
o Strong skills in requirements gathering, functional specification writing, and
business process modeling (BPMN, UML).
o Experience in translating complex business and technical requirements into
clear, actionable documentation for development and implementation.

 Compliance & Regulatory Understanding:
o Knowledge of regulatory requirements related to payments systems, including
AML, KYC, GDPR, and other industry standards.
o Understanding of how ISO 20022 changes align with regulatory reporting and
compliance requirements for financial institutions.

 Analytical & Problem-Solving Skills:
o Strong analytical skills to evaluate changes in the ISO 20022 standard and
assess their business impact, identifying and solving issues efficiently.

o 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.