Principal Program Business Analyst (Retail Banking & Lending Domain)

As a Program Business Analyst, you will play a key role in large-scale retail banking and lending transformation initiatives. Working within the Orchestration team, you will drive discovery, cross-squad dependency resolution, and program-level analysis to support the modernization of lending platforms and capabilities.

The program's core goal is to decouple retail lending products from a legacy Loan Management System (LMS) and rebuild them on a modern, event-driven lending platform, enabling product autonomy, faster change cycles, and predictable scaling.Priority retail products, including Installment Loans, Buy Now Pay Later (BNPL), and Fast Consumer Loans (FCL), are targeted for the initial phase, with subsequent phases covering secured consumer loans, agro credit, mortgages, and business loans.

Job responsibilities

• Drive discovery activities and program-level business analysis across multiple teams and workstreams

• Understand business problems and translate them into functional specifications, user stories and actionable delivery plans.

• Lead cross-squad dependency management to ensure alignment across products and delivery teams.

• Collaborate with business, product, engineering, architecture, risk and compliance stakeholders throughout the delivery lifecycle.

• Facilitate discovery workshops, backlog refinement sessions and cross-functional alignment meetings.

• Create and maintain business artefacts including process flows, BRDs, functional specifications, user stories and acceptance criteria.

• Analyse retail lending processes including origination, disbursement, servicing, repayment, restructuring, refinancing and collections.

• Support lending platform modernization, legacy system replacement and migration initiatives.

• Translate regulatory, legal and business requirements into functional capabilities and validation rules.

• Provide oversight and mentoring to squad-level Business Analysts, ensuring consistency and quality across delivery teams.

• Work closely with engineering teams to ensure functional requirements are accurately implemented and all business scenarios are covered.

• Partner with stakeholders to prioritize requirements, manage competing demands and support MVP-first delivery.

Job qualifications

Technical skills

• Strong hands-on experience in retail core banking and lending, particularly across post-origination lending management, servicing, fulfilment and restructuring processes.

• Deep understanding of lending products including Installment Loans, Buy Now Pay Later (BNPL), Fast Consumer Loans (FCL) and secured retail lending products.

• Knowledge of credit underwriting models, interest and pricing frameworks and amortization schedules.

• Experience working on core banking modernization or legacy Loan Management System (LMS) replacement and migration programs.

• Understanding of General Ledger (GL) and accounting implications related to lending, including accruals, penalties, overdues, write-offs and end-of-day processing.

• Strong knowledge of financial calculations including PMT, EIR and repayment schedule generation across different loan scenarios.

• Understanding of lending entity structures, product configuration, business rules and data lineage.

• Familiarity with End-of-Day (EOD) processing, batch operations, data migration and dual-run strategies.

• Ability to translate regulatory and compliance requirements into clear functional specifications.

• Experience creating BRDs, functional specifications, user stories and acceptance criteria, including edge case analysis and dependency mapping.

• Exposure to AI-assisted software delivery practices and modern analysis tools is an advantage.

• Comfortable collaborating with engineering teams to define scalable backend capabilities that support existing and future business processes.

Professional skills

• Excellent stakeholder management skills with the ability to work across business, engineering, product, risk, compliance and delivery teams.

• Strong facilitation skills with experience leading discovery workshops and alignment sessions with senior stakeholders.

• Ability to balance strategic discussions with detailed functional analysis across multiple delivery teams.

• Strong product thinking with the ability to prioritize business value and drive MVP-focused outcomes.

• Comfortable making decisions in complex and ambiguous environments while enabling teams to move forward.

• Excellent written and verbal communication skills with experience presenting to senior business stakeholders.

• Strong mentoring and coaching skills with experience guiding Business Analysts across multiple squads.

• Collaborative mindset with a strong sense of ownership and accountability within cross-functional delivery teams.

• Learning agility with an interest in adopting emerging technologies, AI-enabled delivery practices and evolving ways of working.

Other things to know

Learning & Development

There is no one-size-fits-all career path at Thoughtworks: however you want to develop your career is entirely up to you. But we also balance autonomy with the strength of our cultivation culture. This means your career is supported by interactive tools, numerous development programs and teammates who want to help you grow. We see value in helping each other be our best and that extends to empowering our employees in their career journeys.

Onsite Work Expectation

You may be expected to work out of our Thoughtworks office or at our client's office location for all five working days of the week, depending on business or clients’ needs.

About Thoughtworks

Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. For 30+ years, our clients have trusted our autonomous teams to build solutions that look past the obvious. Here, computer science grads come together with seasoned technologists, self-taught developers, midlife career changers and more to learn from and challenge each other. Career journeys flourish with the strength of our cultivation culture, which has won numerous awards around the world.

Join Thoughtworks and thrive. Together, our extra curiosity, innovation, passion and dedication overcomes ordinary.

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