Reconciliation and Settlement Manager Job at PalmPay
PalmPay is an Africa-focused fintech firm, launched in 2019. PalmPay is a mobile payments platform that offers a number of financial services.
We are recruiting to fill the position below:
Job Position: Reconciliation and Settlement Manager
Job Location: Lagos
Employment Type: Full-time
Job Purpose
- The ideal role holder will be responsible for resolving all issues arising from electronic transactions and Performing automated back-office processing such as dispute processing, settlement, reconciliation, and reporting, engage aggregators and business partners on improved service delivery.
Responsibilities
- Develop and execute processes, standards, guidelines, and service-level agreements for partnering organizations.
- Analysis and reporting of settlement/payment activities to the Financial controller
- Develop business case and business models that may relate to the Company’s payment platform
- Ensure accurate forecast on virtual wallet or float accounts to prevent stock out'
- Documentation of processes, procedures, resolution guides, etc for the reconciliation and settlement department
- Monitor the reconciliation of income/fees with partners and ensure value is transferred to the company’s account promptly
- Ensure accurate forecast on virtual wallet or float accounts to prevent stock out'
- Ensure daily reconciliation of all transactions and provide daily/weekly reconciliation and settlement reports to the financial controller
- Keep records of the relevant KPI’s for the businesses
- Analysis and reporting of settlement/payment activities to the Financial controller
- Develop business case and business models that may relate to the Company’s payment platform
- Documentation of processes, procedures, resolution guides etc for the reconciliation and settlement department
- Monitor the reconciliation of income/fees with partners and ensure value is transferred to the company’s account promptly
- Attend to customer and merchant disputes and ensure prompt resolution.
- Liaise with banks and aggregators on settlement discrepancies.
- Identifying, negotiating, and closing partnership deals on direct product offerings.
- Liaising with switching companies and card schemes on Settlement issues
- Reconciliation of transactions routed through various payment platforms including POS.
- Daily reconciliation of accounts for exceptions and subsequent escalation of exceptions to the switch and other vendors or third parties for resolution.
- Ensures timely reconciliation of all transactions done on the terminals.
- Ensure daily validation of transaction posting on the system.
Requirements
- A Bachelor's Degree or its equivalent
- 7-8 years experience in reconciliation and settlement
- At least 4 years of Digital Financial Services or banking industry experience
- At least 2 years experience in business development and continuity.
- At least 2 years in a leadership role (Team Lead or Head of Reconciliation & Settlement)
- Experience with electronic payment systems
- In-depth knowledge of payment processing gateways
- Organization and Time management skills
- Proficiency in the use of MS Office Suites.
- Excellent communication skills and interpersonal skills.
- Attention to detail and accuracy.
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