Senior Business Analyst- Wealth Management, Banking

Senior Business Analyst- Wealth Management, Banking & Financial Services, Cognizant Consulting Banking & Financial Services Chicago, Illinois (Hybrid) ABOUT US Cognizant is one of the world's leading professional services companies, transforming clients' business, operating, and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build, and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant, a member of the NASDAQ-100, is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients with digital at www.cognizant.com . The Role We are actively seeking a passionate, high-energy Consulting Manager to serve as a Senior Business Analyst. This position requires extensive expertise in Wealth Management, with a focus on payments, cash management, and ISO20022 standards. The ideal candidate will excel in functional design, business requirements documentation, and facilitating collaboration between business and technology teams. Proficiency in agile, waterfall, and hybrid methodologies, along with knowledge of wealth data, taxonomies, and money movement risks, is essential. Strong analytical and leadership skills are critical to driving impactful solutions in the financial sector. Succeeding in today's dynamic market demands innovation, and Cognizant has established itself as a leading force in the industry. We are driven by ambitious ideas and bold visions, distinguishing ourselves by centering our approach on human experiences. Our mission is to empower clients to engage customers by envisioning and building innovative products and services. We develop effective go-to-market strategies and pioneer entirely new business models, ensuring that every company we partner with departs with both inspiration and a concrete plan. At Cognizant, our work is defined by an unwavering passion for our clients, our communities, and our organization—a fundamental characteristic we seek in every team member. Responsibilities Conduct in-depth analysis of existing wealth management payment workflows, identifying gaps and areas for improvement, particularly concerning wire transfers and cash management. Translate complex business needs into clear, concise, and actionable requirements, user stories, and acceptance criteria for development teams, ensuring alignment with client strategies and regulatory mandates. Serve as a subject matter expert on ISO 20022 standards (e.g., pain, pacs, camt) and their impact on global payment systems, including Fedwire, SWIFT, CBPR, and CHAPS. Collaborate closely with technical teams to ensure accurate translation of business requirements into technical specifications for system integration and development, particularly for payment platforms. Contribute to the design and implementation of innovative payment solutions and strategies that enhance efficiency, transparency, and compliance for wealth management clients. Manage expectations and ensure alignment among various stakeholders, including clients (across IT, VMO, and business units), project teams, and senior leadership. Develop test plans and support testing activities (e.g., UAT, functional testing) to ensure that technical developments meet business needs and align with ISO 20022 standards. Analyze and re-engineer existing business processes within wealth management operations to improve efficiency, reduce risk, and optimize the client experience. Propose and implement best practices and methodologies (Agile, Waterfall, Hybrid) to enhance project delivery and operational excellence. Create and maintain comprehensive documentation, including business requirement documents (BRDs), functional specifications, process flows (BPMN, UML), data models, and user manuals. Qualifications · Bachelor's degree in a relevant field such as Computer Science, Finance, or Business Analytics. · 10 years of experience in Wealth management as a Senior Business Analyst in Consulting or Advisory capability · Experience with ISO20022 standards especially in the payments (Wires) and cash management · Has experience with Fedwire, SWIFT, CBPR, CHAPS transition to MX standards. · Has experience in creating functional design, writing business requirements, supporting technical implementation · Experienced in agile methodologies and comfortable with both waterfall, agile and hybrid models · Proven ability in capturing and documenting business requirements, maintaining product backlogs, developing business cases and bridging the gap between business and technology teams · Experienced in writing user stories, data mapping · Deep knowledge of wealth data and taxonomies, especially in the money movement risk areas Salary and Other Compensation: The annual salary for this position is between $98,000 USD- $150,000 USD depending on experience and other qualifications of the successful candidate. This position is also eligible for Cognizant’s discretionary annual incentive program, based on performance and subject to the terms of Cognizant’s applicable plans. Benefits: Cognizant offers the following benefits for this position, subject to applicable eligibility requirements: Medical/Dental/Vision/Life Insurance Paid holidays plus Paid Time Off 401(k) plan and contributions Long-term/Short-term Disability Paid Parental Leave Employee Stock Purchase Plan Disclaimer: The salary, other compensation, and benefits information is accurate as of the date of this posting. Cognizant reserves the right to modify this information at any time, subject to applicable law.