Specialist; Card Settlement & Reconciliation

Job Purpose

• Responsible for performing clearing and settlement of incoming and outgoing files of various card associations, preparing financial reports for all card related accounts and ensure all accounts are properly reconciled to avoid loss in revenue.

• Develop metrics to monitor financial performance of Card Business ensuring compliance to international card association operational procedures in settlement process.                 

Main Responsibilities

• Ensure daily settlement process for Visa and MasterCard is performed correctly.  

• Liaise with treasury and Finance department to ensure there is enough fund before settlement due date        

• Advise card operation and card accounts to work on rejected settlement entries.

• Prepare settlement voucher for issuing and acquiring business for onwards posting at Finance department.      

• Manage NOSTRO settlement account and mirror account, similar entries are reflected on both accounts.

• Manage BOT settlement accounts for domestic/intra country settlement.

• Ensure P&L for Card Business and VAS is prepared on time.  

• Manage the reconciliation of all settlement and card business accounts.  

• Ensure timely processing for correct billing on card holder's accounts; prepare Voucher for cardholder refund and merchant debit payment.        

• Ensures business rules on suspense and control accounts are adhered to.

• Process merchant payment on time and advise merchants on daily settlement position.  

• Process chargeback payments to card holders and recover funds from merchants for failed chargebacks.    

• Ensure timely processing of Visa and MasterCard transaction fees and operational charges.      

• Prepare cards product profitability model and ensure adherence.

• Adhere to highest levels of customer experience to both, external and internal customers and analyze customer behavior to identify new sources of revenues.    

• Workout on outgoing and incoming files for Visa and MasterCard to investigate rejected files/discrepancies.    

• Provide coaching and training to branch staff and call center.

Attributes

• Vast knowledge in Card business obtained from Visa or MasterCard.

• Excellent communication and presentation skills.

• Interpersonal skills.

Qualifications and Experience

• Bachelor’s Degree or Advanced Diploma in Accounts/Finance/Banking or its equivalent.

• Master’s degree will be an added advantage.

• Advanced computer skills is a requirement.

• At least 3 years of banking experience in Card Business

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