Process Analyst

Process Analysts help organizations ensure their day-to-day business processes are completed efficiently, cost-effectively and with quality results. The role works across the core business and technology areas, offering a disciplined approach to identifying, designing, executing, monitoring and controlling both automated and non-automated business processes. For example, a Process Analyst might ensure that a retail bank’s process for opening a customer bank account is as efficient and effective as possible.

ROLE-AT-A-GLANCE
Binoculars
Demand Outlook
*

As financial organizations continue to look for ways to gain efficiencies and remain competitive, demand for Process Analysts will remain high.

Diploma
Education & Credentials
*

Undergraduate degree typically required.

Data chart
Quantitative Skills Required
*
Group of people
Interpersonal Skills & Relationship Management
*
Multiple devices Specialized Technology Skills
*
Desktop area Work Environment

Office

ROLE-AT-A-GLANCE
Binoculars
Demand Outlook
*

As financial organizations continue to look for ways to gain efficiencies and remain competitive, demand for Process Analysts will remain high.

Diploma
Education & Credentials
*

Undergraduate degree typically required.

Data chart
Quantitative Skills Required
*
Group of people
Interpersonal Skills & Relationship Management
*
Multiple devices Specialized Technology Skills *
Desktop area Work Environment

Office


WHAT IT IS

Key Role Dimensions

Creating Process Models: Use workflow analysis and improvement tools to create process models that can be simulated and analyzed to help business executives make informed decisions.

Designing and helping implement workflow processes: Collect system requirements, map and design workflow and assist with deployment of new systems to ensure they are implemented and used efficiently.

Forming a link between line-of-business staff and IT staff: Connect the designers of process management systems with the staff who actually perform the process work.

Focus Areas

Process Analysts use business process mapping tools to help define exactly what a business does, who is responsible for each aspect of it, what quality standards are necessary and how success can be measured. Their focuses include:

  • Identifying areas for improvement: Identify how a process works, what its problems are and opportunities for enhancements.
  • Supporting process/system implementation: Support the effective uptake, use and maintenance of the system as a new process is rolled out.
  • Communicating between stakeholders: Understand and work effectively with internal ‘clients’ and other stakeholders.

WHAT IT TAKES TO SUCCEED

Key Job Accountabilities

Process Analysts generally engage in:

Process Review Enhancement:

  • Perform continuous reviews of a process or system to align processes (e.g. models, goals, expectations) with changing business conditions and new products and service offerings.
  • Work closely with process architects (experts who create diagrams related to the detailed architecture/structure of all aspects of an organization) and other Analysts to ensure process consistency across the enterprise.

Documentation, Training Support:

  • Act as a process subject matter expert and prepare documentation, such as procedural and training manuals, for colleagues.
  • Simulate different scenarios, analyze performance metrics and use advanced optimization techniques to help show affected staff how to identify and solve process challenges.

Stakeholder Relationship Management:

  • Communicate system requirements between business areas that use a specific process or system and those who provide technology support for the system.

Knowledge, Skills & Experience

Must-haves:

  • Business Process Improvement: Knowledge of process modelling, analysis and simulation tools (e.g. flow charts, spaghetti plots, business process modelling notation, program analysis and review techniques, etc.)
  • Prototype Modelling & Design: Ability to design and create modelling diagrams to capture, depict and communicate business problems and solutions (e.g. relationship diagrams, work flow diagrams, sequence diagrams, decision tree diagrams)
  • Analytical Thinking: Problem-solving and reasoning skills
  • Proficiency in spotting trends and patterns in unrelated areas
  • Knowledge of investment products and trading of financial instruments
  • Relationship management skills

Nice-to-haves:

  • Previous experience as a Business Analyst, Process Engineer, Process Developer, Lead Analyst, Process Designer or Business Systems Analyst

Education & Credentials

Entry-level positions typically require:

  • Undergraduate university degree

 In the fields of:

  • Business
  • Computer Science
  • Management Information Systems
  • Industrial Engineering

 Employers in different segments may require candidates to possess one or more of these designations:

 Professional associations may include:

  • Association of Business Process Management Professionals (ABPMP)
  • International Society of Six Sigma Professionals (ISSSP)
  • International Institute of Business Analysts (IIBA)
  • American Society for Quality (ASQ)

WHERE IT CAN TAKE YOU

Career Pathways

There are a number of pathways open to Process Analysts through:

  • Increased Seniority: You may move into roles such as Project Manager, Operations Manager, Business Process Improvement Manager and eventually even Vice-President of Business Process Management.
  • Deeper Specialization: You may specialize in process re-engineering methodologies such as Lean or Six Sigma.
  • Move to a Related Field: You may choose to move into a role as an IT Business Analyst.

Future Trends & Impacts

There are several external factors and environmental trends that can influence the demand and qualifications for this role:

  • Business Complexity: The continued dependence of the financial services industry on technology innovation and increased systems flexibility will create ongoing demand for all roles that facilitate introduction of new technology into work processes.
  • Economic Conditions: Economic downturns place increased emphasis on organizational efficiency, creating opportunities for Process Analysts.
  • Regulation: Increased regulation and compliance requirements can drive initiatives to review and change risk management processes in the financial services sector.


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