Business Analyst - Target Operating Model (TOM)

About the Position

Business Analyst – Target Operating Model (TOM)

Location: London (Hybrid) | Practice Area: Business Consulting | Type: Permanent

Design future-ready operating models that enable sustainable transformation across Banking & Payments or Insurance.

Responsibilities

• Lead Target Operating Model initiatives, including current-state assessments, future-state operating model design, and transition planning.
• Analyse and design key operating model components including business processes, governance, organisational structures, customer journeys, data, technology, controls, and operating procedures.
• Partner with Banking & Payments or Insurance clients to identify operational challenges, regulatory impacts, transformation opportunities, and service improvements.
• Facilitate workshops with business, operations, technology, and risk stakeholders to align on target-state vision, design principles, and delivery priorities.
• Support delivery teams in translating Target Operating Model designs into actionable roadmaps, implementation plans, and change initiatives.
• Contribute to business process optimisation, digital transformation, and operational resilience programmes across banking and insurance organisations.

Requirements

• Strong Business Analysis experience with demonstrable Target Operating Model (TOM) delivery.
• Experience within Banking & Payments, Insurance, or both, with an understanding of industry operating models, products, and regulatory environments.
• Experience designing or supporting changes to business processes, operating structures, governance models, and ways of working.
• Ability to work collaboratively across business, operations, technology, data, and risk functions to ensure operating models are practical and deliverable.
• Excellent consulting skills, including stakeholder management, workshop facilitation, structured problem-solving, and effective communication.

Nice to Have

• Experience incorporating data, analytics, automation, or AI-enabled capabilities into Target Operating Model design.
• Experience supporting transformation driven by regulatory change, digital modernisation, operational resilience, customer experience, or cost optimisation.
• Familiarity with agile operating models, product-centric organisations, platform-based delivery, or digital operating models.
• Experience developing TOM roadmaps, transition states, implementation approaches, business cases, or benefits realisation frameworks.
• Confidence engaging senior stakeholders and supporting strategic decision-making across complex transformation programmes.

We Offer

• Deliver high-impact transformation programmes for leading Banking & Payments or Insurance organisations.
• Work in a collaborative, flat, and entrepreneurial consulting culture.
• Access continuous learning, training, and industry certifications.
• Be part of a team shaping the future of AI-enabled business transformation.
• Help organisations unlock value through practical, customer-focused, and technology-enabled operating model transformation.

Core Benefits:

• Discretionary bonus
• Competitive pension
• Health insurance
• Life insurance
• Critical illness cover

Mental Health:

• Easy access to CareFirst, Unmind, Aviva consultations, and in-house mental health first aiders.

Family-Friendly:

• Maternity, adoption, shared parental leave, plus paid leave for sickness, pregnancy loss, fertility treatment, menopause, and bereavement.

Holiday Flexibility:

• Five weeks of annual leave, with the option to buy or sell holiday days based on your needs.

Continuous Learning:

• Minimum of 40 hours of training annually, plus a Business Coach assigned from Day One to support your development and career progression.

About the Company

We're committed to making our recruitment process accessible and straightforward for everyone. If you need any adjustments at any stage, just let us know-we'll be happy to help.

We value each person's unique perspective and contribution. At Capco, we believe that being yourself is your greatest strength. Our #BeYourselfAtWork culture encourages individuality and collaboration-a mindset that shapes how we work with clients and each other every day.