A Business Support Analyst is a professional who plays a crucial role in assisting and facilitating the smooth operation of business processes within an organization. They bridge the gap between business operations and technology, leveraging their analytical and problem-solving skills to optimize workflows, improve efficiency, and enhance overall business performance. In this blog post, we will explore the primary responsibilities and the most in-demand hard and soft skills for Business Support Analysts.

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Main Responsibilities of a Business Support Analyst

The following list describes the typical responsibilities of a Business Support Analyst:

Activate

Activate / Deactivate Monitoring Accounts.

Analyze

• Analyze and recommend resource requirements for business process improvements.

• Analyze business problems to identify root cause and possible solutions to rectify.

• Analyze variances and provides recommendations in order to achieve the financial objectives.

Ask

Ask questions to determine the sources of the problem.

Assist in

• Assist in budgeting and financial analysis to support resource allocation decisions.

• Assist in the development and implementation of business strategies and initiatives.

• Assist in the evaluation and selection of software and technology solutions.

• Assist in the filing of tax reports required by the fiscal authorities.

• Assist Senior Vice Presidents with collecting, entering, processing, and analyzing data.

• Assist with the documentation of new and revised departmental procedures.

Capture

Capture key project metrics and information for executive level reporting.

Check

Check for payment on all past due T&I and monitoring invoices.

Collaborate with

• Collaborate with cross-functional teams to address business-related challenges.

• Collaborate with IT teams to address technical issues and system enhancements.

• Collaborate with stakeholders to understand their needs and provide effective solutions.

Communicate

• Communicate and implement the approved policies, processes and procedures.

• Communicate clearly and confidently verbally and in writing to a variety of audiences.

Conduct

• Conduct feasibility studies for new business initiatives and proposals.

• Conduct gap analysis, develop requirements, and provide guidance to developers on solutions.

• Conduct research and data analysis to support business decision-making.

• Conduct user acceptance testing to ensure the successful implementation of systems and processes.

• Conduct user surveys and feedback sessions to gather insights for process improvement.

Contribute to

Contribute to team effort by accomplishing related results needed.

Coordinate

• Coordinate activities necessary to successfully accomplish SVP business plans and results.

• Coordinate and monitors implementation and maintenance of processes, procedures, and policies.

• Coordinate delivery of training, and delivers training directly in one-on-one or group settings.

• Coordinate meetings and travel itineraries.

• Coordinate the division's annual strategic plan presentations to the executive committee.

• Coordinate the production of performance reports for Senior Management.

• Coordinate with business stakeholder and IT on project / product development.

• Coordinate with internal departments to meet client needs.

• Coordinate work with various internal business areas to quantify business requirements.

Create

• Create and distribute reporting.

• Create and execute test cases for projects, participate in UAT activities.

• Create monthly management reports and communicate results to engage the teams.

• Create presentations and organize meetings.

Design

Design operational policies, processes and procedures.

Develop

• Develop and analyzes additional ad-hoc reports as needed by Management and or Regulatory Agencies.

• Develop and maintain a training plan for the TTP system.

• Develop and maintain a understanding of overall business functions.

• Develop standards and best practices for production processes.

• Develop training materials and conduct training sessions for end-users.

Direct

• Direct business users in mapping their current business processes to the TTP process.

• Direct Client interactions IT - IT required depending on key area of responsibility.

Document

Document business processes, procedures, and workflows for reference and training purposes.

Drive

• Drive process management utilizing project management tools and techniques.

• Drive the management information to support key decision making processes such as the QBRs and MBRs.

Enhance

Enhance internal relationships and meet client objectives.

Ensure

• Ensure compliance with regulatory requirements and company policies.

• Ensure data integrity and accuracy through regular data analysis and validation.

• Ensure deliverables comply with Enterprise Change Management standards.

• Ensure that data matches, reconciles and flows between old and new system.

• Ensure that the highest level of the Code of Conduct is displayed in your behaviour.

Execute

Execute and validate test cases for end-to-end processes.

Facilitate

• Facilitate communication and foster collaboration between different departments.

• Facilitate consistent and traceable change management amongst various teams.

Formulate

Formulate insights, championing and driving insights into action.

Gather

• Gather and analyze business requirements to identify areas for improvement.

• Gather information, analyze data and trends, identify root causes, and develop work products.

Generate

• Generate and / or develops regulatory and management reports.

• Generate reports and prepare presentations to communicate key findings and insights.

Handle

Handle cancellations of existing contracts.

Identify

• Identify and recommend process optimization opportunities to enhance productivity.

• Identify opportunities to leverage system capabilities in order to meet business requirements.

• Identify risks and develop mitigation strategies to minimize potential disruptions.

Lead

Lead ad hoc projects driving results and coordinating stakeholders from multiple functional areas.

Liaise with

• Liaise with a broad spectrum of clinical, IT and business stakeholders.

• Liaise with internal teams to resolve exceptions in a timely manner.

Maintain

Maintain Senior Vice President's calendar.

Make

Make recommendations based on analysis.

Manage

• Manage and prioritize multiple tasks and projects to meet deadlines.

• Manage eligible equipment listing and product mapping.

• Manage internal reference tools through the publication of content.

• Manage SKU builds for the Apple account, provide support process improvement where needed.

• Manage testing / implementation of BAU change.

Map

Map current state business processes to TTP business processes.

Monitor

Monitor and track key performance indicators to evaluate the effectiveness of business processes.

Organize

Organize work load to meet internal and external departmental deadlines.

Oversee

Oversee smaller system change and business process improvement projects.

Own

• Own and manage FODC (Front Office Data Control) process.

• Own the engagement and support of the BMO's (business optimization managers).

Participate in

• Participate in client meetings when needed.

• Participate in local / global projects and initiatives, taking a lead role where required.

• Participate in meetings and discussions to provide business insights and recommendations.

• Participate in quarterly business and pricing / actuarial reviews with client and internal teams.

Perform

• Perform information management such as inputting and reviewing the Common Business Language.

• Perform internal control (ICFR) compliance and control updates.

• Perform monthly financial analysis and reporting on cost centers, sales etc.

• Perform other related duties as required and assigned.

• Perform research, analysis, and resolution of account issues through the use of reports.

• Perform spot audits and look backs as needed.

Prepare

• Prepare balance sheet reconciliations and take actions to correct possible errors.

• Prepare booking package and submit to FBC.

• Prepare departmental financial and staffing reports in collaboration with Finance and HR partners.

Prioritize

Prioritize and monitor project progress against the goals of the business.

Process

Process change requests in TTP and / or the appropriate UBC information systems.

Provide

• Provide analysis as needed on the reporting.

• Provide analytical support on various product strategies to ensure company goals are met.

• Provide appropriate management information as required to support business unit decision making.

• Provide broad Human Resources support in managing departmental staff as needed.

• Provide client front office system provider with intraday reports to resolve breaks where possible.

• Provide client with daily summary and monthly MIS reports.

• Provide financial, auditing and reporting support to the account management and global teams.

• Provide general administrative support for the division as needed.

• Provide Horizontal support on all financial reporting for the head of FICC Technology and his CTOs.

• Provide operational support for our Direct Marketing processes.

• Provide recommendations for system enhancements and improvements.

• Provide support during contract negotiations.

• Provide support for business applications.

• Provide support for operational processes and compliance.

• Provide technical support and troubleshooting assistance to end-users.

Put

Put monitoring account on test as requested.

Research

Research, compiles and analyses sales results, pricing analysis, competitive and trend information.

Review

• Review and analyzes trends in current population distributions and recommend strategies.

• Review monthly expiration report.

• Review, validates, and / or analyzes reports that function as a control to existing processes.

Source

Source, coordinate and manage all off-site and special events.

Stay updated with

Stay updated with industry trends and best practices to drive innovation.

Store

Store documentation in the appropriate document repository as per department standards.

Support

• Support ad-hoc analysis to identify root cause of production problems and develop timely solutions.

• Support administrative tasks, as required.

• Support business testers during User Acceptance Testing.

• Support customers in English and French.

• Support customers in English (Toronto) and English and French (Montreal).

• Support for period end close processes.

• Support our clients and third party vendors, by answering questions and handling process escalations.

• Support reporting requests and data validation.

• Support resource planning for delivery / execution.

• Support Senior Vice Presidents with schedule management and travel arrangements.

• Support the development and execution of quality assurance processes.

• Support the development and implementation of change management strategies.

• Support the development and maintenance of business systems and applications.

• Support the Operations team with data analysis and problem solving.

• Support the overall FICC Technology budget process.

• Support the ‘Risk Excellence' culture within the business.

Take

• Take ownership of the timely investigation and resolution of exceptions.

• Take the initiative to solve problems and recommend improvements.

Train

Train and educate end-users on new systems, tools, and processes.

Understand

Understand and follow regulatory and compliance procedures.

Work with

• Work directly with key business resources to address project, program and audit information needs.

• Work with business stakeholders to analyze current processes and application issues.

• Work with globally distributed teams to coordinate various types of information and projects.

• Work with the Operational Manager(s) on root cause analysis and process improvements.

• Work with the PMs on developing their forecasts (resources, budget).

Most In-demand Hard Skills

The following list describes the most required technical skills of a Business Support Analyst:

1. Data analysis and reporting using tools such as Excel, SQL, or business intelligence platforms.

2. Proficiency in project management methodologies and tools.

3. Knowledge of business process modeling and workflow design.

4. Understanding of data visualization and dashboard creation.

5. Experience with enterprise resource planning (ERP) systems.

6. Familiarity with customer relationship management (CRM) platforms.

7. Proficiency in using data analysis and visualization tools like Tableau or Power BI.

8. Advanced Excel skills for data manipulation, analysis, and modeling.

9. Knowledge of business intelligence tools and data warehousing concepts.

10. Experience with requirements gathering and documentation.

11. Proficiency in using project management software and collaboration tools.

12. Understanding of database management and querying languages.

13. Familiarity with process improvement methodologies such as Lean or Six Sigma.

14. Knowledge of software development life cycle (SDLC) and Agile methodologies.

15. Experience with data migration and system integration projects.

16. Proficiency in using business process management (BPM) software.

17. Knowledge of data governance and data quality management.

18. Familiarity with data privacy and security regulations.

19. Understanding of IT infrastructure and systems architecture.

20. Proficiency in using enterprise productivity tools such as Microsoft Office

Most In-demand Soft Skills

The following list describes the most required soft skills of a Business Support Analyst:

1. Strong analytical and problem-solving skills to identify and address business challenges.

2. Excellent communication skills to effectively collaborate with stakeholders at all levels.

3. Adaptability and flexibility to navigate through changing business requirements.

4. Detail-oriented mindset to ensure accuracy and quality in work deliverables.

5. Strong organizational and time management skills to handle multiple tasks and priorities.

6. Ability to work independently and as part of a team to achieve common goals.

7. Critical thinking and decision-making abilities to evaluate options and make informed choices.

8. Strong interpersonal skills to build relationships and work effectively with diverse teams.

9. Active listening skills to understand stakeholders' needs and requirements.

10. Continuous learning mindset to stay updated with industry trends and advancements.

11. Strong presentation and data visualization skills to effectively communicate insights.

12. Conflict resolution and negotiation skills to address and resolve issues.

13. Emotional intelligence and empathy to understand and support end-users' needs.

14. Collaboration and teamwork skills to foster a positive working environment.

15. Customer service orientation to provide excellent support to internal and external stakeholders.

16. Ability to handle pressure and work well under tight deadlines.

17. Problem-solving and troubleshooting skills to resolve technical issues.

18. Business acumen and understanding of organizational dynamics.

19. Relationship building and networking skills to establish connections and partnerships.

20. Continuous improvement mindset to drive efficiency and innovation.

Conclusion

Being a Business Support Analyst requires a unique blend of technical expertise, analytical thinking, and interpersonal skills. It is a dynamic role that empowers professionals to contribute to the strategic decision-making process, drive operational efficiency, and support business growth. By continuously developing and refining their skills, Business Support Analysts can excel in their roles and make a significant impact on the organizations they serve.