Product Analyst

Role & responsibilities

1. Payment Messaging & Standards

• Work with

  SWIFT MT (e.g., MT103, MT202, MT940)

  message formats.
• Implement and analyze

  ISO 20022 (MX) messages

  for payment and reconciliation processes.
• Perform message mapping between

  MT MX

  formats.
• Validate XML structures, tags, business rules, and schema compliance.
  

2. Payment Types / Schemes

• Understanding and analysis of major Indian payment systems:
  

• IMPS

  (Immediate Payment Service)

• NEFT

  (National Electronic Funds Transfer)

• RTGS

  (Real-Time Gross Settlement)

• UPI

  (Unified Payments Interface) work in progress
• Payment posting, settlement logic, return & reversal scenarios.
  

3. Cross-border / Foreign Remittance

• Work on

  international remittances

  , correspondent banking flows, and compliance considerations (sanctions, AML checks).
• Support SWIFT-based cross-border transfer processing and transaction enrichment.
  

4. Transaction Processing

• Analyze end-to-end transaction flow across payment initiation, processing, clearing, settlement, and reporting.
  
• Understand exception handling, failure cases, and retry logic.
  
• Perform gap analysis in current vs. target state payment workflows.
  

5. Documentation

• Prepare and maintain:
  

• BRD

  – Business Requirements Document

• FSD

  – Functional Specification Document

• FRD

  – Functional Requirement Document
• Create flow diagrams, message mapping documents, and functional walkthroughs.
  

6. Tools

• Hands-on with:
  

• Figma

  – UI/UX review, journey mapping

• draw.io / diagrams.net

  – Process flows, sequence diagrams
• Excel, JIRA, Confluence (optional)
  

Test Case Design & Validation

• Create and execute

  test scenarios

  for payment workflows.
• Validate MT/MX messages, transaction statuses, settlement cycles, and boundary cases.
  
• Support SIT and UAT testing for payment features.
  

Required Skills

• 2–4 years of experience in

  Banking Payments

  .
• Strong understanding of

  Swift MT/MX

  message structures.
• Knowledge of Indian and international payment processing.
  
• Ability to translate business requirements into detailed functional documents.
  
• Good analytical, documentation, and problem-solving skills.