Jobs at Renmoney

Key Responsibilities

Card Transaction Reconciliation

• Perform daily reconciliation of card transactions across all payment channels, including:
  • POS Transactions
  • ATM Transactions
  • Web/IPG Transactions
  • Credit Card Transactions
  • Agency Banking Transactions
  • Other Digital payments transactions
• Reconcile transactions between:
  • Mambu
  • Card Management System
  • Payment Switches (Interswitch, Mastercard, etc.)
  • Settlement Banks
  • Internal General Ledger accounts
• Ensure all reconciliation activities are completed within the approved Service Level Agreements (SLAs).

General Ledger Reconciliation

• Reconcile all card-related General Ledger (GL) accounts on a daily basis.
• Monitor outstanding balances and investigate unreconciled items.
• Ensure suspense and settlement GLs are cleared promptly.
• Maintain reconciliation schedules and supporting documentation.

Exception Management

• Investigate and resolve reconciliation breaks and settlement discrepancies.
• Track aged outstanding items until resolution.
• Escalate unresolved exceptions in accordance with established procedures.
• Coordinate with internal and external stakeholders to resolve exceptions within agreed timelines.

Settlement Validation

• Validate settlement reports received from payment schemes, payment switches, and settlement banks.
• Confirm settlement amounts agree with transaction processing records.
• Identify duplicate settlements, missing settlements, failed settlements, and settlement variances.
• Monitor settlement timelines and ensure prompt escalation of delays.

Reporting

Prepare and distribute:

• Daily Card Reconciliation Report
• Outstanding Reconciliation Items Report
• Settlement Exception Report
• GL Reconciliation Report
• Aged Outstanding Items Report
• Monthly Management Reconciliation Dashboard
• Operational Loss Report (where applicable)

Operational Risk & Control

• Ensure compliance with approved reconciliation procedures and internal control standards.
• Identify operational control weaknesses and recommend improvements.
• Maintain complete audit trails for all reconciliation activities.
• Report operational incidents, control breaches, and suspected fraudulent activities promptly.

Process Improvement

• Recommend automation opportunities for reconciliation activities.
• Participate in User Acceptance Testing (UAT) for new card products and system enhancements.
• Contributes to the continuous improvement of reconciliation processes and controls.

Requirements

Experience

• Minimum of 2–4 years' experience in Banking Operations, Card Operations, Reconciliation, Settlement, Finance Operations, or Electronic Payments.
• Experience in card reconciliation within a commercial bank, fintech, or payment service provider is an added advantage.

Technical Knowledge

• Good understanding of card transaction lifecycle and settlement processes.
• Knowledge of payment schemes such as Interswitch, Mastercard, NIBSS
• Understanding of General Ledger reconciliation.
• Knowledge of electronic payment operations.
• Familiarity with Core Banking Systems (e.g., Mambu) is an advantage.
• Proficiency in Microsoft Excel, including Pivot Tables, VLOOKUP/XLOOKUP, and data analysi

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Key Responsibilities

Settlement Operations

• Perform daily settlement of all electronic payment transactions across all payment channels.
• Monitor settlement activities with payment switches, settlement banks, and other payment partners.
• Ensure timely settlement of customer transactions in accordance with agreed SLAs.
• Investigate and resolve settlement failures and delays.
• Identify opportunities to improve settlement and reconciliation processes.
• Recommend automation initiatives to reduce manual intervention.
• Participate in system testing and implementation of new payment products.

Reconciliation

• Perform daily reconciliation of settlement General Ledger (GL) accounts.
• Reconcile transactions across payment channels, settlement banks, and internal systems.
• Investigate and resolve reconciliation breaks within agreed timelines.
• Maintain supporting documentation and reconciliation evidence.

Exception Management

• Identify and investigate settlement exceptions.
• Resolve failed, pending, and unmatched transactions.
• Escalate unresolved issues promptly to the appropriate stakeholders.
• Maintain an exception register and track resolution to closure.

Payment Operations

• Monitor payment processing activities to ensure successful transaction completion.
• Process settlement adjustments, reversals, and corrections in accordance with approved procedures.
• Ensure all manual postings are appropriately authorized.

Reporting

• Prepare daily and weekly settlement and reconciliation proof and report.
• Produce exceptions and ageing reports.
• Report outstanding reconciliation items to management.
• Provide operational performance metrics and dashboards.

Stakeholder Management

• Liaise with payment switches, settlement banks, fintech partners, and internal teams.
• Coordinate with Technology, card business, Finance, Risk, Internal Control, and Customer Experience to resolve operational issues.
• Participate in meetings relating to payment settlements.

Operational Risk & Compliance

• Ensure compliance with internal policies, operational procedures, and regulatory requirements.
• Maintain complete audit trails for all settlement activities.
• Support internal and external audits by providing required documentation.
• Escalate operational risk events and control breaches promptly.

Required Qualifications, Skills and Experience

• HND / B.Sc. in Accounting, Finance, Economics, Business Administration, or related field. 
• Sound understanding of electronic payment systems, banking operations, and settlement processes.
• Minimum of 2–4 years' experience in banking operations, e-payment operations, settlement, reconciliation, or transaction processing.
• Practical knowledge of Interswitch settlement, Mastercard settlement processing, and other electronic payment schemes
•  Experience in General Ledger (GL) reconciliation, settlement exception management, and transaction investigation.
• Proficiency in Microsoft Excel and other Microsoft Office applications, with the ability to analyze large transaction volumes and prepare operational reports.
• Good understanding of banking controls, operational risk management, and regulatory requirements relating to payment operations.
• High level of integrity, accountability, and professionalism
• Strong analytical and problem-solving skills.

Required Skills & Competencies

• Strong analytical and reconciliation skills.
• Sound knowledge of electronic payment and settlement processes.
• Understanding of banking operations and General Ledger reconciliation.
• Excellent attention to detail and problem-solving ability.
• Strong communication and stakeholder management skills.
• Proficiency in Microsoft Excel and reporting tools.
• Ability to work under pressure and meet strict deadlines.
• High level of integrity, accountability, and professionalism.
• Knowledge of banking applications and payment platforms.