Job Title: Business Analyst -- RCAP \& SIC Code Reclassification
Type: [Full-Time / Contract]
Department: Regulatory Reporting / Finance Transformation / Risk \& Compliance
Job Summary:
We are seeking a detail-oriented and strategic Business Analyst to support the delivery of the Regulatory Capital Assessment Program (RCAP) and the SIC Code Reclassification initiatives. This role requires strong analytical and communication skills to drive regulatory compliance, support accurate capital calculations, and ensure consistent industry classification under regulatory standards.
You will work closely with Risk, Finance, Compliance, Data Governance, and Technology teams to analyze business requirements, assess regulatory impacts, and coordinate changes to business processes and systems.
Key Responsibilities:
- RCAP Initiative
- Gather, document, and analyze business requirements related to capital adequacy, credit risk, and market risk processes.
- Collaborate with Risk and Finance stakeholders to ensure alignment with Basel III/IV and OSFI regulatory guidelines.
- Support the mapping of regulatory rules to internal data and systems, including capital calculators and reporting engines.
- Assist with impact assessments, gap analyses, and remediation plans for RCAP compliance.
- Participate in UAT and validation of regulatory capital outputs.
- Monitor changes to RCAP frameworks and translate them into business and technical requirements.
- Lead the analysis and implementation of changes to Standard Industrial Classification (SIC) codes across client and product data.
- Engage with data stewards, business units, and compliance to ensure consistent SIC mapping across systems.
- Conduct data profiling, validation, and cleansing to support reclassification.
- Define business rules and workflows for assigning SIC codes, aligned with industry best practices and regulatory standards.
- Support change management and stakeholder training related to the new classification process.
Qualifications:
- Bachelor's degree in Finance, Business, Economics, or related field (MBA or professional certifications like CBAP, CFA, or FRM are a plus).
- 8 years of experience as a Business Analyst in financial services, with exposure to regulatory initiatives.
- Knowledge of Basel framework, capital reporting, and regulatory compliance (especially OSFI, OCC, or Fed guidelines).
- Familiarity with SIC/NAICS codes and their use in banking risk, KYC, or client segmentation.
- Strong understanding of data governance, data lineage, and metadata management concepts.
- Experience with SQL, Excel, Visio, JIRA/Confluence, and reporting tools (e.g., Tableau, Power BI) is a plus.
- Excellent communication, stakeholder management, and documentation skills.
Nice to Have:
- Experience with regulatory capital engines or data lakes.
- Exposure to enterprise data management or client data remediation programs.
- Understanding of credit exposure reporting, counterparty risk, or client onboarding processes.
Seniority level: Mid-Senior level
Employment type: Contract
Job function: Consulting, Information Technology, and Finance
Industries: IT Services and IT Consulting
