Reconciliation and Settlement Officer (Support) at Fort Knox Group

Remuneration- 150, 000
Date: March 2023

JOB PURPOSE

• 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 regular balancing of all required accounts used for running backend operations within the stipulated timeline.
• To work closely and provide support to all other departments in the company where and when necessary

KEY ACCOUNTABILITIES

• Ensure timely settlement of all transactions in line with deadlines agreed with clients and partners or regulatory-defined timelines.
• Daily settlement and reconciliation of all transactions for all products carried across all channels offered by PSB in line with agreed commercials
• 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 the accounts under purview
• Ensure effective participation in all industry-related settlement activities.
• Liaise with banks’ settlement & reconciliation teams to ensure reconciled funds/incomes/fees are transferred to relevant accounts promptly.
• Ensure all files are processed within defined SLA.
• Ensure the team acts as second level support on queries from clients on payments and ensure they are resolved promptly.
• 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.

Educational Qualifications & Functional / Technical Skills

• Bachelor’s degree or HND in Banking & Finance, Accounting or Finance.
• Advance skills and working knowledge of MS Office suite including Word, Excel, and PowerPoint.
• Excellent communication and organizational skills
• Ability to pay attention to details
• A general knowledge of accounting principles.
• Over 3 years working experience in the Fintech or banking industry, fully integrated in all aspects of settlement and daily reconciliation process.