• Application Deadline: Thu, 5 May 2022 00:00:00 GMT
• Position: Settlement and Reconciliation Specialist - SmartCash PSB


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience


• Location Lagos


• Job Field Finance / Accounting / Audit 

Purpose of the Job (Brief)

• To maintain daily, smooth running of the settlement, dispute and reconciliation of all electronic payment transactions carried by customers, clients and partner organizations across multiple channels.


• To ensure accuracy of settlement from/to third party switches or processors across all channels (card, EFT, mobile money) and ensure daily posting


• To serve as the GL custodian for all electronic transactions


• To ensure accuracy of settlement and prevent exposures that may arise from electronic transactions

Key Accountabilities

• Ensure timely settlement of all transactions in line with deadlines agreed with clients and partners or regulatory-defined timelines


• Ensure daily settlement and reconciliation of all transactions for all products carried across all channels offered by PSB in line with agreed commercials and SLAs


• Ensure settlements are done in strict adherence to regulatory defined timelines or as may be agreed with each client or partner.


• Ensure regular (up-to-speed) understanding of regulatory policies as it applies to Settlement operations and ensure compliance.


• Monitor balance on the settlement banks’ accounts


• Ensure daily reconciliation and balancing of all accounts in use for smooth running of the settlement operations. Ensure effective participation in all industry-related settlement activities.


• Oversee and monitor daily reconciliation requests to banks and clients


• Liaise with banks’ settlement & reconciliation teams to ensure reconciled funds/incomes/fees are transferred to relevant accounts promptly.

Establish and Achieve Operational Excellence within the Team:

• Development of internal frameworks that will ensure operational efficiency for PSB at all times


• Ensure the development of SLA or insertion of SLA clauses in business agreements with 3rd party service providers that will protect the interest of PSB at all times


• Ensure the development of Standard Operating Procedures (SOP) for all critical areas of settlement, reconciliation and dispute management


• Continuously updating the SOPs to ensure they are in line with PSB corporate goals and regulatory-defined policies.


• Ensure zero losses that may be due to penalties or wrong settlement.


• Ensure all internal systems and work processes operate efficiently.


• Prevent workload backlogs ensure and maximum permitted transaction processing timelines are not breached.


• Ensure submission of quarterly reports to the various card schemes before the due date.


• Continually evaluate and recommend best practice business process throughout payment value chain.

Provide an efficient Management service Dispute:

• Oversee the resolution of disputed transactions and ensure they are carried out in line with SLA with client/industry standards and regulations


• Ensure the adequate provision of systems, applications and tools that will aid efficient dispute management service


• Ensure the team acts as second level support on queries from clients on payments and ensure they are resolved promptly.


• Ensure the team acts as second level support on queries from clients on payments and ensure they are resolved promptly.


• Ensure the provision of necessary tools to enable and enhance ability to provide second-level support


• Provide revenue position to management.


• Preparation or contribution to the preparation of User Requirement for the development of all Applications, tools etc.


• Perform other ad-hoc functions as assigned by the CFO (month end closure, business requirement documentations, business planning and analysis, audit etc).

Educational Qualification & Functional Skills

• Bachelor's Degree or HND in a numerical discipline


• Advance skills and working knowledge of MS Office suite including Word, Excel, and PowerPoint. Knowledge of Excel VBA will be an added advantage


• Excellent logical and analytical skills


• Knowledge of dispute resolution and chargeback processes


• Evidence of practical application of banking regulations


• Experience working with core banking and ERP solutions


• Project management skills will be an added advantage


• A general knowledge of accounting & financial reporting principles.

Required Experience:

• Over 4 years working experience in the Fintech or banking industry, fully integrated in all aspects of settlement and daily reconciliation process.


• A minimum of 2-years supervisory level in settlement and reconciliation.


• Banking/fintech industry knowledge and experience.


• Relevant experience in Mobile Financial Services is desirable.

Other Requirements:

• Relationship with key and critical stakeholders (Regulators, Banks, NIBSS, MMOs etc.) in the industry.


• Goals getting and results orientated personality.


• Basic / introductory data analytics skills.


• Doggedness and reliability.