Reconciliation and Settlement Officer at Dream Labs (Nig) Ltd

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.