Business Analyst

Full profileYour role

Also known as Business development analyst · Business strategy analyst · Business strategy consultant · Organisational developer

and 3 more

Standardisation expert · Standardisation manager · Standardization expert

L3 salary: Not published yetSalary figures open with the salaries section.
Upcoming dated changes: 1 change aheadNext: 1 Jul 2027
Where the changes come from
Each change in the Regulatory calendar comes from an official text, linked on its page.
A change affects this role directly when it names a process that is one of the role's main tasks.
Top critical skills: Requirements gathering and documentation
Process mapping and redesign
Functional analysis between business and IT

See all levels

What the role does

A Business Analyst works between business teams and technology to define what a change must deliver. The role gathers and documents requirements, maps current and future processes, writes user stories or functional specifications, and supports testing until the change is live. Business analysts work in project and agile delivery teams across industries, including finance. Typical tools are workshops, process models, data queries in SQL (Structured Query Language) and backlog tools. Many hold certifications from the International Institute of Business Analysis (IIBA).

Read a day in the life

A day in the life

The analyst starts with the team stand-up, reporting progress on user stories for a new customer onboarding screen. The morning is spent in a workshop with operations staff, walking through how requests are handled today and where work is retyped or delayed. The analyst draws the current process, notes pain points and agrees with the team which steps the new system should automate. Late morning goes to writing acceptance criteria for three stories and checking edge cases with a developer. After lunch the analyst runs a short SQL query to see how many requests fall into each category, which helps the product owner set priorities. Mid-afternoon brings a review with the testers: two defects found in user acceptance testing need a decision on whether they block release. The analyst clarifies the expected behaviour with the business lead and updates the stories. The day ends with refining the backlog for the next sprint and sending a short summary of decisions to stakeholders.

Levels

L1 Starting out 0-2 years
L2 Independent 2-5 years
L3 Senior or specialist 5-9 years
L4 Leads a team or an area 8-14 years
L5 Leads the function 12+ years

Full level descriptions and job titles

The EFO level names are the common scale; job titles differ between employers.

Levels of Business Analyst
Level	What the work looks like	Typical years	Typical job titles
L1 Starting out	Documents requirements and processes from workshops led by others, writes simple user stories, prepares test cases and learns the business area and delivery methods under supervision.	0-2	Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer
L2 Independent	Owns the analysis for a feature or workstream end to end, runs workshops, writes specifications and acceptance criteria, coordinates testing and is the main contact for business users.	2-5	Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer
L3 Senior or specialist	Senior analyst. Handles complex or cross-team changes, shapes solution options and data flows, coaches other analysts and represents the business side in design decisions.	5-9	Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team)
L4 Leads a team or an area	Leads a team of analysts or the analysis for a large programme, sets methods and standards, manages capacity and is the escalation point for scope and requirement disputes.	8-14	Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section
L5 Leads the function	Head of business analysis or a change function. Accountable for analysis practice across a business area or region, sets standards, tools and career paths, and advises senior sponsors.	12+	Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director

Skills

The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.

Critical 4

The job cannot be done without these.

Requirements gathering and documentationWeight 14.3%Anchor skillExpected level: practitionerRelevant to you
Process mapping and redesignWeight 9.5%Expected level: practitionerRelevant to you
Functional analysis between business and ITWeight 9.5%Expected level: practitionerRelevant to you
User acceptance testing coordinationWeight 9.5%Expected level: practitionerRelevant to you

Important and supporting skills 18

Important 8

Needed in most positions.

Agile delivery (Scrum, Kanban)Weight 4.8%Expected level: practitionerRelevant to you
Querying data with SQLWeight 4.8%Expected level: practitionerRelevant to you
Process mapping tools (Visio, Lucidchart)Weight 4.8%Expected level: practitionerRelevant to you
Professional written communicationWeight 4.8%Expected level: practitionerRelevant to you
Stakeholder managementWeight 4.8%Expected level: practitionerRelevant to you
Attention to detailWeight 4.8%Expected level: practitionerRelevant to you
Structuring ambiguous problemsWeight 4.8%Expected level: practitionerRelevant to you
Project tools (Jira, Asana)Weight 4.8%Expected level: practitionerRelevant to you

Supporting 7

Help in many positions.

Project planning and dependenciesWeight 2.4%Expected level: working knowledgeRelevant to you
Data cleaning and validationWeight 2.4%Expected level: working knowledgeRelevant to you
Defining and using KPIsWeight 2.4%Expected level: working knowledgeRelevant to you
Verbal communication and presentingWeight 2.4%Expected level: working knowledgeRelevant to you
Design judgment and trade-offsWeight 2.4%Expected level: working knowledgeRelevant to you
Data migration and cutoverWeight 2.4%Expected level: working knowledgeRelevant to you
Applied generative AI in office work (prompting, evaluation, governance)Weight 2.4%Expected level: working knowledgeRelevant to you

Useful 3

Occasionally useful.

API design and integrationWeight 0.8%Expected level: working knowledgeRelevant to you
Collaboration and teamworkWeight 0.8%Expected level: working knowledgeRelevant to you
Visualisation tools (Power BI, Tableau)Weight 0.8%Expected level: working knowledgeRelevant to you

Processes

The work the role takes part in.

Change and project delivery

What each process covers

Change and project deliveryMainRunning programmes and projects: plans, budgets, requirements, testing, cutover.

Where the role concentrates

How AI is changing the role

Generative AI tools draft user stories, summarise workshop notes, generate test cases and convert process descriptions into diagrams.

Read the full assessment

Generative AI tools draft user stories, summarise workshop notes, generate test cases and convert process descriptions into diagrams. Routine documentation work is faster and needs fewer hours. Value grows in asking the right questions, resolving conflicting needs between stakeholders, judging which processes to change and checking that generated requirements are complete and correct. The World Economic Forum Future of Jobs Report 2025 lists analytical thinking, technological literacy and leadership and social influence among the skills employers expect to grow.