Job Title - Business Analyst Role Overview The Business Analyst will play a critical role working within the Middle Office to define, document, and deliver business requirements and solutions that transform how Nomura adopts its existing processes to remain compliant.

The successful candidate will bridge business stakeholders, operations teams and technology partners to translate strategic objectives into actionable requirements and ensure delivery of high-quality solutions that meet business outcomes.

Key Responsibilities

- Requirements Definition & Documentation
- Define and document comprehensive business requirements for Middle Office.
- Create business requirements documentation
- Create detailed functional specifications and acceptance criteria
- Map and analyse end-to-end trade lifecycle to eliminate operational bottlenecks
- Develop process flows, data mapping documentation, and control frameworks
- Maintain requirements traceability matrices and change logs
- Secure stakeholder approval for all business requirement documentation

Analysis & Solution Design

- Perform gap analysis between current capabilities and proposed business requirements.
- Analyse existing As-is process, systems, workflows, controls and challenges.
- Define the target-state business process and functional solution.
- Identify dependencies, assumption, constraints, risks, and impacts associated with the requirements.
- Analyse the impact of the new change/s, regulatory requirements and system enhancements on Middle Office processes.
- Design target state solutions that improve client experience and operational efficiency
- Work with technology team to clarify requirements and address any function queries
- Map data flows, controls, and exception management workflows

Stakeholder Management

- Collaborate with Global Operations, Front Office, Sales, and Technology teams
- Facilitate workshops and requirements gathering sessions with business stakeholders
- Manage relationships across multiple regions and functional areas
- Present findings, recommendations, and progress updates to management
- Act as liaison between business users and technical delivery teams

Testing & Implementation Support

- Support test management and coordinate testing activities (UAT, SIT, regression)




- Develop test scenarios and validate that solutions meet business requirements.
- Support implementation planning and change management activities.
- Validate system outputs against business rules and expected operational results.
- Conduct impact and regression analysis to identify existing functionality that may be affected by new changes.
- Coordinate with Operations and Business users to ensure UAT readiness and obtain business sign-off.
- Support post-implementation reviews and benefits realization

Programme Delivery

- Support delivery of Middle Office transformation, process improvement and technology programs.
- Translate business objectives into deliverable requirements, functional scope, milestones and implementation activities.
- Track project dependencies across functions like Middle Office, Technology,
- Operations, Risk, Finance and downstream systems.
- Monitor progress against key milestones and communicate status to stakeholders.
- Manage changes to scope and assess impacts on requirements, timelines, processes, systems and resources.
- Ensure business requirements and functional deliverables remained aligned through the program lifecycle.
- Support stakeholder communication and provide clear updates on scope, timelines, progress, risk, issues, dependencies and next steps.
- Support governance forums with status reporting and risk/issue management

Essential Experience Skills, experience, qualifications and knowledge required:

- 5+ years of Business Analysis experience in financial services, preferably within Investment Banking, Capital Markets, Asset Management or Financial Services.
- 3+ years of direct experience with Middle Office and lifecycle maintenance
- Experience working on large-scale, complex transformation projects
- Proven track record of defining and documenting business requirements and solutions

Domain Knowledge





- Strong understanding of the end-to-end trade lifecycle, from trade capture through confirmation, settlement, reconciliation and reporting.
- Good understanding of Middle Office Operations and understanding day-to day operational processes.
- Knowledge of trade bookings, amendments, cancellations, allocations, confirmations and lifecycle events.
- Understanding of trade exceptions and break management including investigation, root-cause analysis and resolution.
- Knowledge of reconciliations, including trade, position, cash, P&L; and securities reconciliation.
- Understanding of settlement processes, settlement instructions, settlement status, fail management and exception handling.
- Knowledge of reference data, including securities, counterparties, accounts, currencies and settlement instructions.

Technical Skills

- Strong documentation skills using MS Office Suite (Word, Excel, PowerPoint)
- Experience with SDLC and knowledge management tools (Jira, Confluence)
- Proficiency in business analysis tools and techniques (process modelling, data flow diagrams, use cases)
- Experience with process modelling tools (Visio, draw.Io)
- Ability to analyse system workflows, functional specifications, data flows, interfaces, and integration points across Middle Office platforms.

Analytical & Problem-Solving Skills

- Strong analytical thinking and attention to detail
- Ability to break down complex problems into manageable components
- Data-driven approach to decision making
- Root cause analysis and issue resolution capabilities
- Ability to identify process improvement opportunities

Communication & Interpersonal Skills

- Excellent written and verbal communication skills
- Ability to communicate complex concepts to both technical and non-technical audiences
- Strong presentation and facilitation skills
- Ability to influence and negotiate with stakeholders at all levels
- Cross-cultural communication skills for global team collaboration

Personal Attributes

- Self-motivated with ability to work independently
- Solid organizational skills and ability to manage multiple priorities
- Proactive and solutions-oriented mindset
- Adaptable to changing requirements and priorities
- Team player with collaborative approach

📌 Business Analyst - Middle Office (Trade Life Cycle) (Mumbai)
🏢 Three Across
📍 Mumbai