Reconciliation and Settlement Specialist at PalmPay

Department: CFM
Job Level: P3

Role Summary

The Reconciliation and Settlement Specialist is responsible for the accurate and timely reconciliation of assigned transaction channels, processing and monitoring settlements, managing wallet funding activities, and resolving transaction discrepancies. The role ensures settlement obligations are completed within agreed SLAs, financial records are accurate, and revenue leakage and operational risks are minimized.

Key Responsibilities

• Perform daily reconciliation of assigned transaction channels, including dealer settlements and wallet funding activities.
• Validate reconciliation results, identify discrepancies, and ensure all exceptions are investigated and resolved promptly.
• Monitor transaction flows and follow up with relevant channels and partners to resolve outstanding reconciliation issues.
• Process and monitor transaction settlements in line with agreed SLAs.
• Ensure settlement credits are accurately processed for collections and cash-in transactions.
• Ensure settlement debits are accurately processed for disbursement and cash-out transactions.
• Prepare, validate, and upload accurate settlement and wallet funding reports through designated SFTP or online platforms.
• Investigate transaction discrepancies and coordinate with relevant teams to ensure timely resolution.
• Support the resolution of customer transaction-related complaints and enquiries.
• Provide partners with timely updates on the status and resolution of transaction-related issues.
• Maintain accurate reconciliation and settlement records for reporting, control, and audit purposes.
• Ensure compliance with internal controls, operational procedures, reporting standards, and audit requirements.
• Identify settlement and reconciliation risks and implement appropriate controls to minimize financial exposure.
• Monitor transactions and settlement activities to identify potential revenue leakage and support revenue assurance across assigned channels.
• Escalate unresolved exceptions, settlement failures, and material financial discrepancies to the appropriate stakeholders.
• Contribute to process improvements that enhance reconciliation accuracy, settlement efficiency, and operational controls.

Requirements

Education and Experience

• Bachelor’s degree in Accounting, Finance, Economics, Business Administration, or a related field.
• 3 to 5 years of relevant experience in reconciliation, settlement, financial operations, payments, or a related function.
• Experience working with transaction reconciliation, settlement processes, payment channels, or digital financial services is preferred.

Key Skills and Competencies

• Strong reconciliation and settlement expertise.
• Excellent attention to detail and numerical accuracy.
• Strong analytical and problem-solving skills.
• Understanding of transaction flows and payment operations.
• Ability to investigate and resolve financial discrepancies.
• Strong understanding of financial controls and revenue assurance.
• Good stakeholder and partner management skills.
• Strong reporting and documentation skills.
• Ability to work with large volumes of transaction data.
• Proficiency in Microsoft Excel and other reconciliation or financial reporting tools.
• Ability to manage multiple priorities and meet strict SLAs.
• Strong communication and escalation skills.
• High level of integrity, accountability, and confidentiality.

Key Performance Indicators

• Reconciliation accuracy and completion rate.
• Settlement accuracy and adherence to SLA.
• Timely resolution of reconciliation exceptions.
• Reduction in outstanding transaction discrepancies.
• Revenue leakage identified and prevented.
• Accuracy and timeliness of settlement and wallet reports.
• Compliance with internal controls and audit requirements.
• Resolution turnaround time for transaction-related issues.