Senior Business Analyst - Capital Markets

SMBC Group is a top-tier global financial group headquartered in Tokyo with a 400-year history, offering a diverse range of financial services including banking, leasing, securities, credit cards, and consumer finance. The Group operates over 130 offices and employs 80,000 people worldwide across nearly 40 countries. In the Americas, SMBC Group serves corporate, institutional, and municipal clients with commercial and investment banking services, leveraging its extensive global network.

About the role

We are seeking a highly motivated and delivery-oriented Business Analyst to support a large-scale middle and back office transformation and migration. This role covers a variety of asset classes (FX, rates, fixed income, financing, derivatives, options, etc.) and strategically sits at the intersection of business, operations, and technology. The ideal candidate thrives in complex environments, translates business and operational needs into actionable requirements, and is passionate about improving operational workflows and platform capabilities.

Responsibilities

• Partner with Product Managers, business stakeholders, and operational SMEs to define platform capabilities, business requirements, and target operating models for middle and back office functions.
• Analyze and document functional and non-functional requirements for large-scale system migration initiatives.
• Support end-to-end migration activities including current state analysis, gap assessments, process mapping, data mapping, reconciliation planning, and business readiness.
• Work closely with Operations, Risk, Compliance, and Technology teams to understand workflows and operational dependencies.
• Translate complex business processes into user stories with clear acceptance criteria and functional specifications.
• Facilitate refinement sessions across various levels of stakeholders, both on the business and tech side.
• Support product roadmap execution by helping prioritize enhancements, operational efficiencies, and migration deliverables.
• Coordinate testing activities in an iterative fashion through the SDLC.
• Assist with data validation, reconciliation, and migration cutover planning.
• Identify risks, dependencies, and process impacts associated with platform transformation initiatives.
• Contribute to change management, training, and operational readiness activities.
• Ensure solutions align with regulatory, audit, and operational control requirements.

Requirements

• 10+ years of Business Analyst experience within Capital Markets, preferably in the institutional space.
• Knowledge of financial products including equities, fixed income, derivatives, FX, or securities financing.
• Strong understanding of middle and back office operations through the entire trade lifecycle (settlements, reconciliations, accounting, confirmations, margin management, reporting, etc.).
• Experience supporting large-scale system implementations, platform migrations, or transformation programs.
• Proven ability to work in Agile, hybrid, or enterprise delivery environments.
• Strong requirements gathering, process mapping, and documentation skills.
• Experience writing user stories, acceptance criteria, and functional specifications.
• Excellent stakeholder management and communication skills across both business and technology teams.
• Strong analytical and problem-solving capabilities.
• Comfortable with JIRA and operating in an Agile/Scrum/Sprint framework.

Preferred Qualifications

• Experience supporting vendor platform implementations or strategic modernization programs.
• Experience with post-trade vendor platforms such as Broadridge, Murex, Calypso, Aladdin, Charles River, or similar ecosystems.
• Familiarity with operational risk, controls, and regulatory reporting requirements.
• Experience working with cloud-based or distributed architecture transformation initiatives.
• Product mindset with a strong focus on user outcomes and operational efficiency.

Schedule

SMBC’s employees participate in a Hybrid workforce model, requiring employees to live within a reasonable commuting distance of their office location. Hybrid work may not be permitted for certain roles, including FINRA-registered positions that require in-office attendance for the entire workweek.