IDFC FIRST Bank is hiring for a fresher entry level Business Analyst role in India

Position:

• Business Analyst

Company:

• IDFC FIRST Bank

Location:

• Thane, Maharashtra, India

Job type:

• Full-time

Job mode:

• Onsite

Job requisition id:

• P-191165

Years of experience:

• Fresher to 3 years

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Company description

• IDFC FIRST Bank was formed in December 2018 after the merger of IDFC Bank, an infrastructure finance giant, and Capital First, a retail finance specialist. The combined entity has created a robust and ethical commercial banking institution in India that emphasizes technology-led, customer-focused, and socially responsible banking practices.

• The bank commenced commercial operations in 2016 and has since established itself as a universal bank offering a wide spectrum of financial products. Services include Retail Banking, MSME Banking, Rural and Startup Finance, Cash and Wealth Management, Deposits, Corporate and Government Banking, Working Capital solutions, Trade Finance, and Treasury Services.

• IDFC FIRST Bank stands out for its ethical banking principles, following the 'Near and Dear' test, ensuring products are simple, transparent, and customer-friendly enough that employees can confidently recommend them to family and friends.

• The bank pioneered ‘ZERO FEE Banking’ for savings accounts, eliminating charges for SMS alerts, IMPS, RTGS, NEFT, and ATM withdrawals, positioning it as the first Indian bank to provide such transparent services.

• Customers benefit from monthly interest credits on savings accounts, lifetime-free credit cards with non-expiring reward points, and transparent fee structures.

• The bank is committed to technology-led banking with seamless services across mobile applications, internet banking, branch operations, call centres, and relationship managers. The mobile app offers over 250 features and has a high rating of 4.8 on both Google Play and Apple App Store.

• International recognition includes high rankings from global rating agency Forrester, placing IDFC FIRST Bank as India’s best and among the world’s top 20 banks for two consecutive years.

• Socially, the bank focuses on financial inclusion and social good, serving over 40 million customers. Key initiatives include 16 million lifestyle improvement loans, 15 million loans to 4.3 million women entrepreneurs, 6.5 million vehicle loans, 1 million loans each for sanitation and livelihood, 300,000 SME loans, and 100,000 home loans.

• ESG (Environmental, Social, Governance) performance is a key priority, and the bank maintains high ESG scores reflecting its commitment to sustainable and socially responsible banking practices.

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Profile overview

• The Business Analyst role in the Data & Analytics division involves collaborating with Data Analysts, Data Scientists, and vendor partners to create detailed technical and functional specifications derived from business requirements.

• The analyst ensures that all solutions developed align with the broader business strategy and the specific objectives of the Data & Analytics function.

• This position serves as the bridge between business teams and technical teams, ensuring that every requirement is thoroughly understood, documented, and effectively handed off to analytics or technical teams.

• Responsibilities include designing robust test strategies, establishing systematic testing procedures, and validating that solutions meet all design and functional specifications.

• Business Analysts in this role are expected to approach problems innovatively, challenging conventional methods, and suggesting improvements that have a tangible impact on business performance.

• Analysts must show strong ownership and persistence in achieving goals, completing initiatives from conception to execution.

• A key aspect of the role involves understanding and interpreting data, with a solid knowledge of the data landscape, the fields required for analysis, and how data contributes to business outcomes.

• The position also involves developing coherent data strategies, supporting architecture design, and implementing policies and practices to ensure effective data utilization across the bank.

• Analysts may also engage in advanced analytics, selecting and applying algorithms and statistical methods to enable systems to learn, adapt, and produce desired results.

• Success in this role is measured by the ability to effectively use analytical tools, deliver insightful business cases, and analyze data to drive decision-making.

• Overall, the Business Analyst contributes to the larger vision of creating an innovative, data-driven, and customer-focused banking institution, continuously improving performance and operational efficiency.

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Qualifications

• Strong analytical skills with experience or familiarity in data interpretation and business case development.

• Ability to design, implement, and manage test strategies, ensuring solution quality and alignment with specifications.

• Proficiency in data visualization tools and data analysis software to extract meaningful insights.

• Awareness of the latest trends in data analytics, machine learning, and business intelligence to apply innovative approaches.

• Excellent problem-solving skills, with the ability to challenge the status quo and recommend process improvements.

• Understanding of business requirements, functional specifications, and the ability to translate them into actionable technical solutions.

• Ability to collaborate effectively with cross-functional teams, including data analysts, data scientists, and business stakeholders.

• Strong communication skills to facilitate requirement gathering, handoffs, and documentation of technical specifications.

• Aptitude for developing data strategies, supporting architecture frameworks, and implementing best practices for effective data management.

• Familiarity with algorithm selection, statistical methods, and advanced analytical techniques to improve processes and predict outcomes.

• Orientation towards achieving business goals while maintaining a focus on data-driven decision-making and operational excellence.

• Awareness of the broader banking ecosystem, understanding how data initiatives contribute to the bank’s larger objectives.

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Additional info

• The Business Analyst role provides exposure to a new-age banking environment focused on digital, ethical, and socially responsible practices.

• Employees are encouraged to innovate, take ownership, and contribute ideas that have measurable business impact.

• The bank’s culture promotes continuous learning, skill development, and opportunities to work with cutting-edge technology.

• This role allows hands-on experience with large-scale data operations, analytical problem-solving, and data strategy formulation.

• Business Analysts are expected to align their work with the bank’s vision of customer-centric and technology-led banking solutions.

• Opportunities exist to interact with multiple departments and stakeholders, including product teams, analytics units, and external vendors.

• Employees are part of a growing organization that values ethical banking, transparency, and financial inclusion.

• The role requires an individual with persistence, attention to detail, and a strong drive to complete projects effectively.

• Success metrics include the use of analytical tools, creation of business cases, accurate data analysis, and delivery of actionable insights.

• The position offers a chance to contribute to India’s evolving financial landscape while building a professional career in data and analytics within the banking sector.

Please click here to apply.