Functional Analyst

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.

As a Functional Analyst with 6-9 years of experience in Australia, your main responsibilities include:

• Collaborating with stakeholders to gather and analyze business requirements, ensuring alignment with project objectives. This involves working closely with various stakeholders to understand their needs and translate them into functional specifications.
• Designing and documenting functional solutions, including process flows, system requirements, and user stories. This entails creating detailed documentation that outlines how the system should function and what features it should have.
• Conducting system testing and quality assurance activities to ensure the delivered solution meets business requirements. This involves performing rigorous testing to identify any issues or bugs and ensuring the solution functions as expected.
• Providing guidance and support to development teams throughout the software development life cycle.

For a Functional Analyst, the following qualifications are required:

• Strong problem-solving skills to identify and analyze business requirements and translate them into functional specifications.
• Excellent understanding of software development life cycle (SDLC) and experience in requirements gathering, documenting, and validating.
• Proficiency in using analytical tools and techniques to assess data, identify trends, and provide insights for process improvements.
• Effective communication and collaboration skills to work closely with stakeholders, including business users, developers, and project managers, ensuring the successful implementation of functional solutions.

The role of Functional Analyst is crucial in ensuring effective business processes and system functionalities. For professionals with 6-9 years of experience in Australia, there are several alternative roles worth considering. Here are four options to explore:

• Business Systems Analyst: A role that focuses on analyzing and improving business systems, identifying requirements, and implementing solutions.
• Project Manager: A position responsible for planning, executing, and overseeing projects, ensuring timely delivery and stakeholder satisfaction.
• Data Analyst: A role that involves collecting, analyzing, and interpreting data to provide valuable insights for decision-making and strategic planning.
• IT Consultant: A position that offers expertise in technology solutions, advising clients on system integration, optimization, and digital transformation.

The job role of Functional Analyst in Australia is projected to experience steady growth in the market. According to a 10-year analysis, there is expected to be an increasing demand for Functional Analysts in various industries. The employment opportunities for this position are also expected to rise, providing numerous job prospects in the future. The latest data points available with Google indicate a positive outlook for the growth of this job role, making it a promising career option in the Australian market.