Business Analyst – Real-Time & Faster Payments

Business Analyst – Real-Time & Faster Payments

Location: Toronto, ON (Hybrid 2-3 days onsite)

Job Type: Contract

About the Role

We are seeking an experienced Business Analyst with deep expertise in real-time and faster payments to support critical payment modernization initiatives. The successful candidate will work directly with stakeholders to define, document, and deliver payment system solutions within a Canadian financial environment.

What You Will Do

• Analyze and document business and functional requirements for real-time and faster payment solutions
• Support end-to-end delivery of payment modernization projects across domestic payment schemes
• Work closely with technology, operations, and compliance teams to translate business needs into clear system requirements
• Define and validate payment workflows, data flows, and processing rules aligned with ISO 20022 messaging standards
• Liaise with internal stakeholders and external payment scheme operators including Interac
• Identify gaps in current payment processes and recommend solutions aligned with Canadian payment regulations and standards
• Create and maintain detailed business requirements documents (BRD), process flows, use cases, and functional specifications
• Support UAT planning, test case development, and defect resolution for payment system implementations
• Contribute to payment scheme compliance reviews and regulatory change assessments

What You Must Have

Every item below is mandatory. Candidates without these will not be considered.

Payments Domain

• Proven experience as a Business Analyst in real-time payments and faster payments — this is non-negotiable
• Hands-on experience with Interac — e-Transfer, Interac Online, or Interac payment rails
• Direct experience with Canadian payments ecosystem — Canadian banks, credit unions, or payment processors
• Working knowledge of domestic payment schemes within Canada
• Experience supporting payment modernization programs or large-scale payment transformation projects

Standards & Messaging

• Solid working knowledge of ISO 20022 messaging standards — must be able to read, interpret, and document ISO 20022 message structures
• Familiarity with Canadian payment modernization initiatives — Lynx, Real-Time Rail (RTR), or Payments Canada programs

Business Analysis

• Demonstrated ability to gather, analyze, and document complex business and technical requirements
• Experience producing BRDs, functional specs, process flows, and use cases
• Strong stakeholder management and communication skills — ability to work across business and technology teams
• Experience supporting UAT and working directly with QA teams on payment system testing