Arca Payments Company Limited was founded in 2016, with a clear vision to become Africa's premier payment services platform, fostering Financial inclusion and innovation & actively shaping the future of Financial Services, throughout the region.
We are recruiting to fill the position below:
Job Title: Reconciliation & Settlement Officer
Location: Nigeria
Job Objective
The Reconciliation and Settlement Officer will be responsible for the reconciliation and settlement activities within the organization.
To facilitate complete and accurate processing of settlement figures for all transactions / products by ensuring that required due diligence is performed.
Ensure that all assigned reports are accurately and timely reconciled to show a true and fair view of processed transaction with partner organizations including banks, payment processing networks, and service providers and respond to any dispute issues.
Operational Responsibilities:
Perform reconciliation for banks and provide report to Head, reconciliation, and settlement.
Support each bank E-business team in resolving settlement and reconciliation issues.
Attend to all queries from clients on payments and ensure they are resolved promptly.
Liaise with Bank Settlement team to ensure reconciled funds are transferred to ARCA account.
Contribute to and maintain system standards within the ARCA payment service.
Carry out income/fee’s reconciliation with Settlement banks, NIBSS and other clients and ensuring value is transferred to ARCA’s account promptly.
Perform daily/weekly analysis of bill payment data: Trends, failure rates etc and extract Business Intelligence from payment data.
Develop and maintain business relations with NIBBS, value card (visa, Mastercard etc), unified payments, Interswitch and ARCA settlement banks.
Ensure daily reconciliation of and correct postings of all cards and other electronic channels transactions.
Verify the incoming and outgoing payment reports.
Liaise with Bank reconciliation team to ensure reconciled funds are transferred to ARCA account.
Perform any other task as might be assigned by the department.
Key Performance Indicators / Performance Goals:
Ensure All bill payment transactions are reconciled against bank accounts before COB of T+1 day (Transaction day + 1)
Ensure funds are recovered from partners (settlement amount from bank and reversals from other Switching partners) timely and accurately (as stipulated in the agreement between partners)
Ensure all income accruing to the company have been accounted for and paid into the company’s income account on a maximum of T+1 day (Transaction day + 1)
Settlement reports delivered daily by 12pm for previous days’ transactions.
Reconciliation updated daily and concluded & delivered by 5th of subsequent month.
Product analytics concluded & delivered by 5th of subsequent month.
0% repeat Audit finding
Satisfactory audit rating
Ensure that open items are not older than 5days.
Educational Qualifications
A business-related Bachelor's degree (or higher) preferably in Accounting or other discipline in Social Sciences from a recognized University.
Experience:
Minimum of 3 years working experience in cards/mobile/payment finance, fully integrated in all aspects of settlement and daily reconciliation process.
Detailed understanding of the operational aspects of payment cards, mobile payments and banking industry.
Previous experience within a Reconciliation, Settlement or Middle Office environment.