Spier Consulting
Payments Real Time Gross Settlement - Consultant
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Consultant / Functional Expert - Real Time Gross Settlement
Outside IR35, Primarily Remote Working
We are working with a leading international player in the payments industry, we are selecting two Functional Experts to join an assessment engagement on an RTGS (Real Time Gross Settlement) platform, the infrastructure through which banks settle high value payments between each other in central bank money.
The platform, currently developed in C++, is a candidate for a full rewrite in Java. Phase 1 of the programme, with an estimated duration of approximately two months, is a feasibility study: reconstructing and certifying the functional behaviour of the current system, assessing complexity and risk, and defining the migration strategy and effort estimate.
The work takes place in an international setting, in continuous collaboration with a technical team based in South Africa.
The role
This is not about gathering requirements for a new system. It is about reconstructing the behaviour of an existing and critical one, largely documented only in its own code. The role suits someone who can do functional archaeology and turn it into structured, verifiable output.
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- As is functional analysis of the application modules, reconstructing business rules from code, configuration, existing documentation and interviews with domain experts.
- Building the traceability matrix across modules, requirements and sources, plus the data and message dictionaries.
- Mapping interfaces towards ancillary systems, the messaging network and peripheral systems.
- Gap analysis between the iso functional baseline and any requested enhancements, keeping the two strictly separate.
- Contributing to complexity assessment, module slicing criteria and the test and non regression strategy.
- Daily interaction in English with the Java architect and the international technical team.
- Producing the Phase 1 deliverables: functional dossier, interface inventory, risk register.
Required skills
Domain, mandatory
- Proven experience on high value payment systems or financial market infrastructures: national RTGS, TARGET2 or T2, securities settlement systems, central bank treasury platforms.
- Understanding of gross settlement mechanics: settlement accounts, liquidity management, queues and priorities, bilateral and multilateral limits, intraday credit and collateral, gridlock resolution.
- Familiarity with the business day cycle: phases, cut off times, closing, reconciliation and balance reporting.
- Working knowledge of ISO 20022: pacs and camt families, business application header, MT to MX migration logic.
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Analytical method
- Ability to read source code, including in languages not mastered, well enough to extract business rules from it.
- Functional modelling in BPMN or UML notation, decomposition by module, disciplined traceability management.
- Experience on migration, rewrite or legacy modernisation programmes, with particular attention to non regression strategies.
- Autonomy in running interviews and workshops with domain experts and business stakeholders.
Language and attitude
- Fluent English, written and spoken, used daily as the working language. Non negotiable requirement.
- Comfortable working across time zones in distributed, multicultural teams.
- Precision, strong written synthesis, and the instinct to ask uncomfortable questions at the right moment.
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