Settlement & Reconciliation Associate at Softcom

Description

• The Settlement and Reconciliation Associate is responsible for resolving all issues arising from electronic transactions and perform automated back-office processing such as dispute processing, settlement, reconciliation and reporting.

Key Responsibilities

• 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.
• Coordinate with team members to solve any issues faced by chargeback and settlement departments.
• Checking payment files to validate settlement of all financial transactions.
• Ensure daily processing of outgoing dispute actions and the on-time response of incoming disputes.
• Coordinate with banks to solve pending issues and reply to their inquiries.
• Communicate with third party and applications support to report system problems and recommend system enhancements & automation.
• Perform daily and monthly reconciliation of financial transactions.
• Ensure the business is not exposed to any material risks emanating from reconciliation variances.
• Develop models that assist in the reconciliation process to speed up reconciliation and provide accuracy.
• Things can only scale by automation. We expect you to be very data-driven and come up with ways we can automate as many of the processes involved in ensuring our financial health.
• Document processes, procedures, resolution guides, etc. for the settlement team.
• Contribute to financial reporting and balance sheet management.
• Manage internal and external controls for payment processes, escalate and resolve payment issue while working with the Product, Business, and Engineering teams.
• Liaise with partners (banks and processors) to ensure optimal cost structures and verify daily settlements.
• Perform daily and weekly revenue recognition and cost optimization exercises.
• Work with Compliance to design and maintain a process for reporting fraudulent activities to the appropriate regulatory authorities.
• Coordinate with internal teams to develop risk mitigation strategies for payment processing and merchant management.

Requirements

• A First Degree in a relevant field of study.
• A minimum of 2 years of hands-on experience in a similar capacity.
• Relevant certification (ACA, ACCA, CIMA) or have started qualification exams will be a plus.
• Previous experience in the technology industry.
• Great communication skills both written and oral.
• Great Analytics skills.
• Collaborative skills.