Settlement and Reconciliation Officer at Assets Microfinance Bank

Job description

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

Responsibilities

• Ensure accurate and timely reconciliation and settlement of financial transactions within the organization.
• Work closely with internal teams, external parties, and financial institutions to reconcile accounts, resolve discrepancies, and facilitate the smooth settlement of transactions.
• Analyze data, identify errors or discrepancies, and implement corrective actions to maintain financial integrity and compliance.
• Daily processing, control of related financial transactions and inward / outward EFT, Cards and NISS transactions in accordance with documented procedures and in accordance with the various settlement windows (NIBSS).
• Provide support on audit issues pertaining to operational issues, including management response, follow up, correction and reporting o Ensure all payments and settlements are made on time in accordance with local cut-off times and documented procedures.
• Provide Supervisor with updated information on outstanding items to minimise risk.
• Daily verification, matching of all clearing and settlement accounts (EFT Suspense, Unpaids etc.) and investigate / query all outstanding and unmatched / open entries.
• Monitor and provide supporting comments daily, weekly and monthly on aging entries outstanding on the clearing related accounts to Supervisor.
• Provide support on audit issues pertaining to operational issues, including management response, follow up, correction and reporting.
• Complete training and development activities including mandatory AML training.
• All other duties aligned with Payments and settlements as directed by Management.
• Involvement/participation and testing of projects activities within the payments and settlements space affecting the bank and/or industry.

Qualifications

• Bachelor's degree and minimum of 3 years of experience with electronic payment systems in a Digital Financial Services or banking industry.
• Demonstrate knowledge of basic financial modeling and financial statement analysis skill
• In-depth knowledge of payment processing- gateways, core banking, etc
• Must be proficient in the use of Ms. Office Suites and also demonstrate strong analytical and problem-solving skills.
• Excellent communication skills and interpersonal skills.
• Attention to detail and accuracy