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.
The Role
Capco is looking for a Business Analyst with a strong focus on Target Operating Model (TOM) design and delivery to join our Business Consulting practice. This role focuses on supporting clients across Banking & Payments or Insurance, helping them transform their operating models to respond to evolving customer expectations, regulatory requirements, digital innovation and operational efficiency objectives.
You will work with clients to assess current-state operating models, define future-state designs and support the transition required to deliver sustainable business outcomes. Working within a consulting environment, you'll collaborate with business, operations, technology, data and risk stakeholders to deliver practical, outcome-focused transformation.
What You'll Do
- 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.
What We're Looking For
- 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.
Bonus Points For
- 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.
Why Join Capco
- 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.
Benefits
- Core Benefits: Discretionary bonus, competitive pension, health insurance, life insurance and 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.
Inclusion at Capco
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.
#LI-BD2
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Skills Required
- Strong Business Analysis experience with demonstrable Target Operating Model (TOM) delivery
- Experience within Banking & Payments, Insurance or both, with 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
- Stakeholder management, workshop facilitation, structured problem-solving and effective communication
- Experience incorporating data, analytics, automation, or AI-enabled capabilities into TOM 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
What the Team is Saying
Capco Compensation & Benefits Highlights
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Healthcare Strength — Health, dental, and vision coverage are described as solid with low copays and a good variety of choices, complemented by mental‑health resources, an EAP, and wellbeing events. Company materials emphasize global availability of these supports.
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Parental & Family Support — Enhanced maternity, paternity, adoption, and shared parental leave are highlighted, with several months of maternity leave noted in the U.S. in some accounts. Additional paid leave is called out for life events such as pregnancy loss, fertility treatment, menopause, and bereavement.
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Wellbeing & Lifestyle Benefits — A global wellbeing program, coaching/mentoring, mental‑health initiatives, and wellness reimbursements (e.g., gym, fitness) are positioned as core parts of the offering. Flexible working is emphasized alongside regionally tailored wellbeing events.
Capco Insights
What We Do
Capco, a Wipro company, is a global management and technology consultancy specializing in driving transformation in the energy and financial services industries. Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco’s cutting edge ingenuity is brought to life through its award-winning Be Yourself At Work culture and diverse talent. TRUSTED ADVISORS - Our collaborative and entrepreneurial approach position us as trusted long-term partners to our clients. DEEP EXPERTISE - Clients look to us for clear guidance, proven expertise, and the support they need to set their companies up for success. DISRUPTIVE SOLUTIONS- We do not provide off -the-shelf answers to clients’ challenges. Instead, we work in close collaboration to understand the issues, and craft disruptive, bespoke solutions. ACCOUNTABILITY AND OWNERSHIP - We recognize every client has distinct needs and expectations, and we take ownership and accountability for the solutions we design, build, and deliver.
Why Work With Us
We support and encourage an inclusive culture, entrepreneurial outlook and independent thinking. Capco is not about organizational charts and rigid hierarchies – we want all employees to feel that Capco is their firm to own and run. We believe diversity powers innovation. Be Yourself At Work (#BYAW) is an integral and underlying part of our culture
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Capco Offices
Hybrid Workspace
Employees engage in a combination of remote and on-site work.
