The main responsibilities of a functional analyst include conducting analyses, measuring various areas of performance, and developing process improvement initiatives. Functional analysts may also be required to assist in reviewing or creating documentation pertaining to technical fields.
Although much of the functional analyst's work is performed alone, communications and presentation skills are needed to train and inform other staff. The analyst also spends a great deal of time interacting with customers, gathering and providing detailed technical information. Thus, leadership skills and multitasking capabilities are necessary.
Functional analysts must be proficient in analyzing and understanding highly technical information, particularly in areas of business and project planning. Experience in TRIAD implementation, banking, and FICO tools may be required; if not, regardless, those skills are highly beneficial. A bachelor's degree in finance, business administration, technology management, or other related quantitative fields of disciplines are usually required.
Advanced knowledge of the latest banking technology is always a plus, and the ability to operate basic office software such as the Microsoft Office suite. An individual in this position must be detail oriented, self-motivated, and willing to motivate others with strong interpersonal skills.
Functional Analyst Tasks
- Coordinate and participate in feasibility studies and implementations.
- Formulate and define system scope and objectives based on user needs.
- Analyze business and user needs, document requirements and translate into proper system requirements specifications.
- Document requirements and specifications in accordance with program and enterprise level standard operating procedures.