Reconciliation and Settlement Intern at Bankly

Job Objective

• The Reconciliation and Settlement Officer will be responsible for the reconciliation and settlement activities within the organization.
• To facilitate complete and accurate processing of settlement figures for all transactions/products by ensuring that required due diligence is performed.
• Ensure that all assigned reports are accurately and timely reconciled to show a true and fair view of processed transactions with partner organizations including banks, payment processing networks, and service providers and respond to any dispute issues.

Operational Responsibilities:

• Perform reconciliation for banks and provide reports to the Head, reconciliation, and settlement.
• Support each bank E-business team in resolving settlement and reconciliation issues.
• Attend to all queries from clients on payments and ensure they are resolved promptly.
• Liaise with Bank Settlement team to ensure reconciled funds are transferred.
• Carry out income/fee’s reconciliation with Settlement banks, NIBSS and other clients and ensure value is transferred to account promptly.
• Perform daily/weekly analysis of bill payment data: Trends, failure rates etc and extract Business Intelligence from payment data.
• Ensure daily reconciliation of and correct postings of all cards and other electronic channel transactions.
• Verify the incoming and outgoing payment reports.
• Perform any other task as might be assigned by the department.

Key Performance Indicators / Performance Goals:

• Ensure All bill payment transactions are reconciled against bank accounts before COB of T+1 day (Transaction day + 1)
• Ensure funds are recovered from partners (settlement amount from bank and reversals from other Switching partners) timely and accurately (as stipulated in the agreement between partners)
• Ensure all income accruing to the company has been accounted for and paid into the company’s income account on a maximum of T+1 day (Transaction day + 1)
• Settlement reports are delivered daily by 12pm for previous days’ transactions.
• Reconciliation is updated daily and concluded & delivered by the 5th of the subsequent month.
• Product analytics concluded & delivered by 5th of the subsequent month.
• 0% repeat Audit finding
• Satisfactory audit rating
• Ensure that open items are not older than 5 days.

Educational Qualifications

• A business-related Bachelor's degree (or higher) preferably in Accounting or other disciplines in Social Sciences from a recognized University.

Experience:

• Minimum of 2 years working experience in cards/mobile/payment finance, fully integrated into all aspects of settlement and daily reconciliation process.
• Detailed understanding of the operational aspects of payment cards, mobile payments and the banking industry.
• Previous experience within a Reconciliation, Settlement or Middle Office environment.