• Application Deadline: Mon, 31 Oct 2022 00:00:00 GMT
• Position: Reconciliation and Settlement Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 3 - 5 years


• Location Abuja


• Job Field Finance / Accounting / Audit 
  

The Reconciliation and Settlement Officer is responsible for resolving all issues arising from electronic transactions and perform automated back-office processing such as dispute processing, settlement, reconciliation and reporting.

Responsibilities

• Processing and settlement of transactions initiated using debit or credit cards and USSD across various gateways;


• Ensure daily processing of net settlement files of banks via Nigeria Interbank Settlement Systems, Interswitch, or any other entity in line with SLA and industry standards;


• Liaise with counterparties (NIBSS, processors, settlement banks) in relation to all daily settlements;


• Attending to customer and merchant disputes and ensuring prompt resolution;


• Ensure that failed settlement transactions are tracked and resolved daily;


• Take ownership and respond to transaction issues, queries and other reconciliation and settlements escalations;


• Investigate and effectively manage the resolution of disputed transactions in collaboration with relevant stakeholders;


• Liaising with switching companies and card schemes on Settlement issues;


• Development and implementation of strategies to reduce operational risk and ensure safe and reliable settlement processing;


• Daily reconciliation of accounts for exceptions and subsequent escalation of exceptions to the switch and other vendors or third parties for resolution;


• Ensures timely reconciliation of all transactions done on the bank’s terminals;


• Review and ensure that all partner charges in respect of payment services are accurate;


• Ensure that all relevant transactions are posted accurately from both an accounting and customer perspective;


• Review of expectations when not available and appropriate escalation;


• Escalation of exceptions to the relevant stakeholders;


• Ensure no loss of funds. Detect and escalate any loss of funds to all stakeholders promptly;


• Performs electronic transaction analytics and reporting using Excel;


• Develop Business Requirement Documents and SOPs for the automation of settlement processes.

Requirements

• Critical thinking and problem-solving skills;


• Strong analytical skills;


• Understanding of payment industry transaction dynamics;


• Ability to work with a massive data set;


• Attention to details;


• Understanding of reconciliation;


• Excellent Microsoft Excel skills


• Leadership and team work skills;


• Organisation and Time management skills


• Excellent verbal and written communication skills;


• Basic financial modelling and financial statement analysis skill


• Excellent reporting skills.

Qualification and Experience

The Ideal Candidate must possess:

• A Bachelor's Degree or its equivalent in Accounting, Finance or related field;


• An ICAN qualification;


• Digital Financial Services or banking industry experience;


• Minimum of 3 years experience in a settlement and reconciliation role in a regulated financial institution;


• Experience with electronic payment systems;


• In-depth knowledge of payment processing- gateways;


• Basic knowledge of International Financial Reporting Standards (IFRS;


• Experience in setting up reconciliation and settlement processes as well as process improvement.