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Consulting Analyst - Financial Risk Management

Consulting Analyst – Financial Risk Manager

Banking and Financial Services

Chicago

ABOUT US

Cognizant is one of the world's leading professional services companies, transforming clients' business, operating, and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build, and run more innovative and efficient businesses. Learn how Cognizant helps clients lead with digital at .

COGNIZANT CONSULTING

Within Cognizant is Cognizant Consulting, a global consulting organization delivering strategic and domain consulting through industry and technology expertise. With over 6,000 consultants worldwide, Cognizant offers high-value consulting services that improve business performance and operational productivity, lower operational expenses and enhance overall performance. Clients draw upon our deep industry expertise, program and change management capabilities, and analytical objectivity to help improve business productivity, drive technology-enabled business transformation and increase shareholder value. We provide several Business/IT Consulting Services including Business Strategy, IT Strategy & Roadmap Development, Process Re-Engineering & Transformation, Enterprise Architecture & Technology Selection, and Domain Solutions. The Cognizant Consulting team is a high performing organization that is continually expanding our client base and increasingly being recommended by analysts such as Forrester and Gartner. And we’re growing!

The Role

Our BANKING & FINANCIAL SERVICES CONSULTING PRACTICE group is looking for a Consulting Analyst to join our journey.

We’re looking for Consultants who can deliver within Cognizant’s Five Pillars of Consulting : 1) Project Execution, 2) Expertise, 3) Business Development, 4) Practice Development, & 5) People Development. As a Consulting Analyst, this means creating high-quality client deliverables and taking ownership (with supervision) of producing client content and meeting client expectations; developing an expertise in your functional area, including obtaining certifications; contributing to Client Satisfaction and/or RFPs; supporting leadership and contributing to content development for service offerings; and participating in People Care initiatives and always exhibiting personal leadership. In addition to enabling consulting excellence through the Five Pillars of Consulting, the specific requirements for this position are below.

Our solutions are in demand and we’re passionate about making a difference. If you have experience with the above, are a selfless leader, and are committed to client-facing environment; if you want to grow your career with a team that wants to build something great together, we want to hear from you! Apply now!

Responsibilities

• Exercise responsibility for one or more components of a consulting engagement
Support or drive data-driven identification and analysis of solution requirement

• Conduct workshops with clients to elicit requirements as the basis for creating business requirements documents and user stories

• Monitor solution quality compliance to standards and conduct or facilitate structured solution walkthroughs.

• The Tech Business Systems Analyst transforms client functional requirements into technical specifications.

• S/he works in conjunction with Business & Technology leads to document appropriate use-cases and assist with conducting testing with teams.

• Responsible for ensuring specifications are complete, comprehensive, technically feasible, in alignment with system capabilities, conform to IT and regulatory standards, and follow consistent documentation practices.

• Conducts requirements peer-reviews to ensure technical specification requirements correctly interpreted. Documents technical designs, tracks requirement deliverables, and assists in preparation use case test.

• Assists project team in the execution of formal testing scripts and oversees approval for user acceptance plans.

• As technical liaison confirms project scoping for client solutions; communicates effectively to identify options, explain issues, recommend solutions, manage risks, and reduce escalations during project design and delivery.

Qualifications

• Masters or MBA Degree a plus

• The candidate should have 6+ years of experience in Risk Management – Stress testing, back testing, margin computation.

• Financial Risk Management (FRM) certified candidates preferred.

• Solution acceptance testing experience (functional, integration, manual, automation)

• Experience with program quality frameworks, methods, and tools (e.g., Six Sigma)

• Experience in working in Agile environments, and proficiency with requirements collection tools (e.g., JIRA, R4J, RRC, and so on)

• Exposure to cloud/digital projects

• Exposure to international clients across various geographical locations

• Experience in working on complex multi-team projects using an onsite / offshore model

• Personal leadership and a desire to create a culture that enables exceptional outcomes

• The embodiment of Cognizant’s Core Values of: Start with a point of view; Seek data, build knowledge; Always strive, never settle; Work as one; Create conditions for everyone to thrive; Do the right thing, the right way.

Work Authorization

· Cognizant will only consider applicants for this position who are legally authorized to work in the United States without company sponsorship (H-1B, L-1B, L-1A, etc.)

Average salary estimate

$105000 / YEARLY (est.)
min
max
$90000K
$120000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Consulting Analyst - Financial Risk Management, Cognizant

Join Cognizant as a Consulting Analyst in Financial Risk Management, based in Chicago, IL, where innovation meets expertise! At Cognizant, we pride ourselves on our capability to drive transformation for our clients, and our Consulting Analysts play a vital role in this mission. As you embark on this journey, you’ll engage with clients in the banking and financial services sector, utilizing your analytical skills to assess their needs and provide tailored solutions. You’ll be responsible for creating high-quality, impactful client deliverables and will collaborate closely with a diverse team of experts. Your role will encompass conducting workshops to gather requirements, analyzing data to identify solutions, and ensuring that our consulting engagements meet stringent quality standards. With a focus on personal and professional development, we encourage you to hone your skills in Risk Management and get certified. By becoming an integral part of our Consulting practice, you’ll contribute to the ongoing growth of Cognizant by improving business performance and operational productivity for our clients. If you're passionate about technology and dedicated to achieving client satisfaction, this is the perfect opportunity for you!

Frequently Asked Questions (FAQs) for Consulting Analyst - Financial Risk Management Role at Cognizant
What responsibilities does a Consulting Analyst in Financial Risk Management at Cognizant have?

As a Consulting Analyst in Financial Risk Management at Cognizant, your primary responsibilities include conducting workshops to elicit client requirements, monitoring the quality of solutions, and developing comprehensive technical specifications. You will also assist in formal testing and act as a liaison between technical and business teams to ensure smooth project delivery.

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What qualifications are needed to apply for the Consulting Analyst position at Cognizant?

Candidates applying for the Consulting Analyst position at Cognizant should ideally have a Master's or MBA degree, along with a minimum of 6 years of experience in Risk Management. Financial Risk Management certification is preferred, and familiarity with Agile environments and requirement collection tools like JIRA will be beneficial.

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What can I expect regarding career growth as a Consulting Analyst at Cognizant?

Cognizant values personal leadership and offers numerous opportunities for career growth for Consulting Analysts. You'll be encouraged to enhance your skills through certifications and training while actively contributing to team projects, enabling a culture of exceptional outcomes and professional development.

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How does Cognizant support its Consulting Analysts' professional development?

Cognizant supports its Consulting Analysts' professional development by encouraging certifications in specialized domains like Risk Management and providing opportunities for mentorship and training. Through participating in projects that align with your interests, you can enhance your skills and expertise in a collaborative environment.

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What is the work environment like for Consulting Analysts at Cognizant?

Consulting Analysts at Cognizant work in a dynamic and collaborative environment that emphasizes teamwork and innovation. The culture promotes open communication and personal leadership, allowing team members to thrive and contribute meaningfully to client projects.

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Common Interview Questions for Consulting Analyst - Financial Risk Management
Can you describe your experience with risk management projects as a Consulting Analyst?

In my previous role as a Consulting Analyst, I was heavily involved in risk management projects where I utilized data analysis to inform decision-making. I liaised with cross-functional teams to ensure that all project requirements were gathered and clearly documented for successful delivery.

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How do you ensure the quality of your consulting deliverables?

To ensure the quality of my consulting deliverables, I follow a rigorous review process that includes peer reviews and adherence to established quality frameworks. This involves closely monitoring compliance standards and conducting solution walkthroughs with my team.

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What tools have you used for requirements gathering in your previous roles?

In my previous roles, I've extensively used tools such as JIRA and R4J for requirements gathering. These tools have been invaluable for tracking requirements and ensuring that all stakeholders are aligned throughout the project lifecycle.

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How do you approach conducting workshops with clients?

When conducting workshops with clients, I typically prepare an agenda that outlines key topics and goals. I encourage open dialogue and active participation, ensuring that all client concerns and needs are heard and documented effectively.

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What strategies do you use to manage your time during multiple projects?

I prioritize tasks based on project deadlines and urgency. Utilizing project management tools helps me keep track of deliverables, and I regularly communicate with my stakeholders to ensure that everything is on track.

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Can you explain your experience with functional testing?

I have hands-on experience with functional testing, where I validate that the specifications meet the defined requirements. I design test cases based on business requirements and conduct thorough testing sessions, collaborating with teams to address any issues.

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Describe a challenging situation you've faced in a consulting role and how you overcame it.

One challenging situation I faced involved a misalignment in client expectations during a project. I organized a meeting with key stakeholders to clarify objectives and facilitate open discussions, which resulted in a clear path forward and improved client satisfaction.

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How familiar are you with Agile methodologies?

I have worked in Agile environments throughout my career, where I’ve embraced principles such as iterative development and collaborative teamwork. I'm experienced in using Agile tools to facilitate project tracking and ensure consistent communication with my team.

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What do you believe are the essential qualities of a successful Consulting Analyst?

The essential qualities of a successful Consulting Analyst include strong analytical skills, effective communication, and a proactive approach to problem-solving. Additionally, being adaptable and having a collaborative spirit are vital for thriving in consulting roles.

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Why do you want to work at Cognizant as a Consulting Analyst?

I am excited about the opportunity to work at Cognizant because of its commitment to innovation and excellence in consulting. I admire the company's approach to fostering professional growth and its strong focus on client satisfaction, which aligns perfectly with my values and career goals.

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Full-time, on-site
DATE POSTED
April 7, 2025

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