Senior Business Analyst – Counterparty Credit Risk (CCR) - Mumbai

Screening questions will verify hands-on experience with CCR exposure metrics, derivatives risk environments, and data validation in risk change programmes.

We are hiring a Business Analyst with hands-on Counterparty Credit Risk (CCR) experience to support risk transformation and regulatory initiatives within a global financial services environment.

This role sits within the Risk Change team, working across Risk Management, Technology, and Front Office stakeholders to deliver change across CCR exposure calculation platforms, risk data frameworks, and regulatory programmes.

Candidates with experience in derivatives exposure, CCR risk metrics, or Basel regulatory initiatives will be particularly relevant.

As a Business Analyst in the Risk Change team, you will support delivery of projects related to:

• Counterparty Credit Risk exposure calculations
• Risk data platforms and analytics frameworks
• Regulatory change initiatives
• Strategic risk system transformations

You will work closely with Lead Business Analysts, programme managers, risk SMEs, and technology teams to translate business requirements into system and process improvements.

• Support delivery of Counterparty Credit Risk change initiatives
• Work with risk stakeholders to capture business and functional requirements
• Contribute to risk platform and data architecture enhancements

• Produce documentation including BRDs, functional specifications, and process flows
• Create data mapping artefacts and workflow diagrams
• Ensure documentation aligns with SDLC governance standards

• Participate in requirements workshops with risk SMEs
• Translate discussions into user and functional requirements
• Collaborate with Risk, Technology, and Front Office teams

• Support test planning and test strategy development
• Write test cases and scenarios
• Coordinate User Acceptance Testing (UAT) cycles
• Track defects and support release implementation

• Perform data validation against risk models and business rules
• Support analysis related to risk exposure calculations
• Work with risk data models and exposure datasets

Candidates should have working exposure to Counterparty Credit Risk frameworks, including familiarity with:

• Potential Future Exposure (PFE)
• Expected Exposure (EE / EEPE)
• Probability of Default (PD)
• Loss Given Default (LGD)
• Exposure at Default (EAD)
• Value at Risk (VaR)
• Risk Weighted Assets (RWA)

Experience with IMM modelling approaches, derivatives exposure modelling, or stress testing frameworks is advantageous.

Exposure to regulatory frameworks such as:

• Basel III
• BCBS 239
• FRTB

is beneficial.

Strong experience in:

• Requirements elicitation and documentation
• Business Requirement Documents (BRD)
• Functional specifications
• Process flows and data mapping
• Agile or Waterfall SDLC environments
• User Acceptance Testing coordination

Ability to perform structured data analysis and validate outputs against business rules is expected.

Preferred technical exposure includes:

• SQL for data querying and validation
• Advanced Excel and PowerPoint
• Visio / process modelling tools
• Exposure to Python for data analysis or automation (advantageous)

This role is ideal for professionals who have:

✔ Experience working in Counterparty Credit Risk or derivatives risk environments
✔ Delivered risk change or regulatory programmes
✔ Worked with risk exposure calculations or risk data platforms
✔ Experience supporting UAT and data validation in banking projects

Preferred background includes:

• Degree in Finance, Engineering, Mathematics, Computer Science, or related discipline
• Certifications such as FRM, CFA, PMP, or CQF are advantageous
• MBA in Finance or Risk is a plus