Settlement & Reconciliation Officer at Contec Global Infotech Limited

Job Summary

• The Reconciliation & Settlement Officer is responsible for ensuring accurate and timely reconciliation of financial transactions, processing settlements, and resolving discrepancies across various accounts and systems.
• The role plays a key part in maintaining financial integrity and supporting audit and compliance requirements.

Key Responsibilities

• Perform daily, weekly, and monthly reconciliation of transactions across bank accounts, payment platforms, POS, wallets, and internal ledgers.
• Investigate and resolve discrepancies, mismatches, and payment failures in a timely manner.
• Liaise with internal departments (Finance, Operations, IT, Customer Service) and external parties (banks, payment processors) to resolve reconciliation issues.
• Process and monitor settlement of funds to appropriate stakeholders and ensure compliance with SLA timelines.
• Maintain accurate and up-to-date reconciliation records and reports.
• Prepare periodic reconciliation and settlement reports for management review.
• Support internal and external audits by providing documentation and clarifications.
• Ensure all reconciliation processes comply with internal controls, financial regulations, and industry standards.
• Assist in process improvement initiatives to enhance efficiency and reduce operational risk.
• Monitor chargebacks, disputes, and refunds, and take appropriate actions.

Qualifications and Experience

• Bachelor’s degree in Accounting, Finance, Economics, or a related field.
• Minimum of 2-4 years of experience in reconciliation, settlement, or related financial operations.
• Proficiency in Microsoft Excel and accounting/ERP software.
• Experience with financial services, fintech, banking, or e-commerce platforms is an added advantage.

Key Skills:

• Strong analytical and problem-solving skills
• High attention to detail and accuracy
• Good organizational and time management abilities
• Excellent communication and interpersonal skills
• Ability to work under pressure and meet tight deadlines
• Sound knowledge of accounting principles and financial reporting.