Role: Business System Analyst

Location – Toronto, ON

Work mode Hybrid(4 days office per week)

Job Summary

We are seeking an experienced Business Analyst with strong knowledge of Counterparty Credit Risk (CCR), credit exposure measurement, financial products, and regulatory reporting. The BA will be responsible for understanding business requirements, defining data mapping and business logic, preparing functional requirements, and working closely with technology teams to deliver solutions for counterparty credit exposure monitoring and regulatory reporting.

The role will involve working with stakeholders across Risk, Finance, Operations, Technology, and senior management to support reporting such as Counterparty Concentration Reports, Large Exposure Framework (LEF), and Single Counterparty Credit Limit (SCCL). The candidate will also support user testing, production issues, implementation, migration, and project governance activities.

Key Responsibilities

- Analyze and understand counterparty credit exposure measurement across various financial products and transactions.
- Understand product attributes and data structures from upstream systems, including:
- Lending Products
- Credit Facilities
- Securities
- Securities Financing Transactions (SFT)
- Derivatives
- Credit Default Swaps (CDS)
- Guarantees
- Letters of Credit (LC)
- Create detailed data mapping specifications between upstream source systems and internal risk/monitoring reports.
- Develop business and mapping logic for counterparty credit exposure reporting.
- Support regulatory reporting requirements including:
- Large Exposure Framework (LEF)
- Single Counterparty Credit Limit (SCCL)




- Counterparty Concentration Reporting
- Translate business requirements into clear Business Requirements Documents (BRDs), Functional Requirements Documents (FRDs), user stories, process flows, and data mapping documents.
- Liaise with IT developers, data engineers, QA teams, and application teams to communicate requirements and clarify business logic.
- Analyze source-to-target data mappings and identify data quality, transformation, and reconciliation issues.
- Understand and quickly apply recent regulatory and risk concepts, including LEF Risk Shifting for CDS, SFTs, Derivatives, Guarantees, and LC Fronting.
- Coordinate and manage User Acceptance Testing (UAT), including test planning, test scenarios, test data, defect tracking, and business sign-off.
- Support implementation, deployment, migration, and post-production validation activities.
- Investigate production issues related to counterparty exposure and regulatory reporting and coordinate resolution with relevant technology teams.
- Perform root cause analysis for data, reporting, and calculation-related issues.
- Validate exposure calculations, reporting outputs, data transformations, and reconciliation results.
- Coordinate with business and technology stakeholders throughout the project lifecycle.
- Prepare and communicate project updates, risks,



issues, dependencies, and progress to project leadership and senior management.
- Participate in requirements workshops and stakeholder meetings and document decisions and action items.
- Ensure solutions comply with business requirements, internal risk policies, and applicable regulatory standards.

Required Skills & Experience

- 5+ years of experience as a Business Analyst in banking, financial services, risk management, or regulatory reporting.
- Strong understanding of Counterparty Credit Risk (CCR) and credit exposure concepts.
- Experience with regulatory reporting, risk reporting, or credit risk platforms.
- Strong understanding of financial products such as:
- Derivatives
- Securities Financing Transactions (SFT)
- Lending/Credit Facilities
- Securities
- CDS
- Guarantees
- Letters of Credit
- Experience creating data mapping, business rules, functional requirements, and process documentation.
- Knowledge of LEF (Large Exposure Framework) and/or SCCL (Single Counterparty Credit Limit) is highly preferred.
- Experience working with large and complex datasets and performing source-to-target analysis.
- Strong experience coordinating UAT and production implementation.
- Ability to work effectively with developers, QA teams, data teams, Risk, Operations, and senior stakeholders.
- Strong analytical, problem-solving, documentation, and communication skills.

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Key Competencies

- Counterparty Credit Risk
- Regulatory Reporting
- Business & Functional Requirements
- Data Mapping & Transformation
- Financial Products
- LEF / SCCL
- Risk Exposure Measurement

📌 Business System Analyst (Toronto)
🏢 Smart IT Frame
📍 Toronto