Rakesh Jain
Summary
Experienced Business Analyst with over 12 years of expertise in payment systems and financial services. Proven track record in analyzing business processes, identifying opportunities for improvement, and implementing solutions that enhance efficiency and profitability. I specialize in cross-border payments, real-time payment systems, and ISO 20022 message formats with strong skills in gathering and translating complex business requirements into actionable technical solutions. Adept at managing end-to-end payment solutions for prominent financial institutions across South Africa and other regions.
- Engaging with external & internal clients and major stakeholders daily and sharing the progress
- Creating Business Requirement Document and specifications, documenting them as user stories.
- Gather techno-functional requirements from client and convert them into technical requirements to be used by Dev/ QA team to support the end-to-end design process.
- Creation of Task, Story, Change request, and business requirement, user stories in Jira/ Azure and burndown charts.
- Well versed with documentation using excel/ Jira for EOD reports, Daily/Weekly/Monthly status report, Defect reports and sharing them to stakeholders on interim intervals.
- Analyze current processes to identify inefficiencies and propose technological solutions for optimization.
- Assists in defining the Minimum Viable Product (MVP) and takes responsibility for delivering MVP, releases, and user stories aligned with the product delivery roadmap.
- Manages the product backlog by prioritizing items and ensuring it remains up to date. Facilitates regular meetings with the product team to review and refine the backlog.
Overview
14
14
years of professional experience
1
1
Certification
Work History
System Analyst
Capgemini
USA
07.2025 - Current
- Client: Fidelity Investments, USA
- Project: Bill Pay
- Analysis between the As IS and To Be system for Bills Pay
- Differentiate between the old API vs New API for Bills Pay
- Payee Add API, Payee List API, Payee Modify API
Business Analyst
ES Search Consultant
USA
01.2025 - 06.2025
- Project: ISO20022 Project migration
- Creating Business Requirement Document. Gather techno-functional requirements from client and convert them into technical requirements as by Dev/ QA team.
- Creation of Task, Story, Change request, and business requirement, user stories in Jira/ Azure and burndown charts.
- Engaging with key stakeholders, such as business units, banks, compliance departments to collect and document business requirements for wire/RTGS payment systems.
Business Analyst - Payments
ABSA Bank
South Africa
11.2020 - 04.2024
- Project: Makola RTGS DHV for Rest of Africa (Swift ISO 20022 Migration MT to MX message), RTGS (Wire payment) migration from old to new payment system. Compliance project by SARB (South Africa Reserve bank)
- Led requirement gathering sessions, documented Business Requirement Documents (BRD), and translated functional requirements into technical specifications.
- Handled communication with stakeholders to share project progress, reports, and issues.
- Led the Swift ISO 20022 migration project, converting payment messages from MT to MX format for cross-border payments.
- Collaborated with stakeholders to gather and document business requirements for enhanced payment processing.
- Delivered training and support to client teams, ensuring smooth migration to Swift ISO 20022 for cross-border payments.
- Managed end-to-end payment flows, ensuring 90% STP (Straight-Through Processing) for faster payment settlement.
Business Analyst / Quality Assurance – Payments
Nedbank
Johannesburg, South Africa
11.2015 - 11.2020
- Project 1: Authenticated Collections (Debi Check) – Global Pay Plus (Finastra GPP), Compliance project by SARB (South Africa Reserve bank)
- Analyzed and documented business requirements for mandate collection and payment processing systems.
- Well versed with Direct Debit Mandate flows (TT1, TT2 & TT3), Collection (Pain.008), Stop payment, recalls, return of payment (Pacs.004)
- Conducted extensive regression and integration testing across multiple South African banks (e.g., ABSA, SBSA, FNB, Capitec).
- Worked with various payment systems including PAIN and CAMT messages, ensuring compliance with local regulatory standards.
- Worked closely with cross-functional teams, ensuring smooth defect tracking and resolution through tools like Jira and Quality Centre.
- Provided client-side UAT support and training, contributing to smooth project delivery and customer satisfaction.
- Project 2: Nedbank Forex ITT/ OTT- Incoming / Outgoing Telegraphic transfer
- Analyzed and validated forex payment transactions (Incoming Telegraphic Transfer) using SWIFT MT103.
- Executed quality assurance for cross-bank integration and conducted end-to-end financial flow verification.
- Project 3: Real-Time Clearing (RTC 24by7)
- Worked on testing real-time payments systems, including fraud detection and Anti-Money Laundering (AML) filtering.
- Validated real-time gross settlement service and extended processing windows for 24/7 availability.
- Project 4: Standing Instructions (Stop Orders)
- Designed and tested systems for capturing and processing standing instructions and stop orders.
- Led the development of test cases and user guides for bulk processing and payment automation.
Quality Engineer (Localization & Internationalization)
LinguaSol (Formerly Linguanext Technologies)
03.2012 - 12.2014
- Performed UI testing for localization of Intuit QuickBooks, ensuring proper language functionality across mobile and desktop platforms.
- Worked with clients like NABARD, UCO, and Union Bank for application translation and financial report testing.
- Led testing for Finacle software localization in various Indian and global banks.
Education
Bachelor of Engineering - Information Technology
CSVTU
Skills
- Payment Systems Expertise: SWIFT, RTGS, ACH, GPPSP, ISO 20022 (PACS, PAIN, CAMT messages)
- Project Management & Collaboration: Engaged with internal and external stakeholders, leading defect triage meetings, and ensuring timely project delivery
- Requirements Analysis & Documentation: Business Requirements, Test Plans, Test Cases, Functional Documentation
- Testing & Quality Assurance: UAT, Regression Testing, Functional & Black Box, System Testing, BDD, UI Testing (Mobile & Web)
- Tools: JIRA, Azure, Confluence, SQL & SQL Queries, IBM RQC, Quality Centre, IntelliJ IDE
- Database: MySQL, Db2ever, SQL Queries
- Agile & Waterfall Methodologies: Scrum Master certified with extensive experience in managing agile projects end-to-end
- Cross-border Payments & Compliance Projects: Expertise in RTGS, Instant Payments, High value / low value payment, Direct Debit Mandates, and Payment Cancellations
Accomplishments
- Awarded for exceptional performance and delivery in payments projects for Nedbank and ABSA.
- Successfully led ISO 20022 migration projects, ensuring compliance and improving payment processing efficiency.
- Trained and mentored new team members, fostering a collaborative and high-performance environment.
Certification
Certified Scrum Master (Feb 2020)
Timeline
System Analyst
Capgemini
07.2025 - Current
Business Analyst
ES Search Consultant
01.2025 - 06.2025
Business Analyst - Payments
ABSA Bank
11.2020 - 04.2024
Business Analyst / Quality Assurance – Payments
Nedbank
11.2015 - 11.2020
Quality Engineer (Localization & Internationalization)
LinguaSol (Formerly Linguanext Technologies)
03.2012 - 12.2014
Bachelor of Engineering - Information Technology
CSVTU