Settlement & Reconciliation Associate at Softcom Limited

Softcom was established in 2007 with a mission to “connect people and businesses with meaningful innovation”. A technology company which aims to solve problems that will connect people and businesses to value that ultimately improves their lives. We want our products to enable inclusion and growth for people and businesses in Africa.

We are recruiting to fill the position of:

Job Title: Settlement & Reconciliation Associate

Location: Lagos
Employment Type: Full Time

Description

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

Key Responsibilities

• 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 transactions with partner organizations including banks, payment processing networks, and service providers, and respond to any dispute issues.
• Coordinate with team members to solve any issues faced by chargeback and settlement departments.
• Checking payment files to validate settlement of all financial transactions.
• Ensure daily processing of outgoing dispute actions and the on-time response of incoming disputes.
• Coordinate with banks to solve pending issues and reply to their inquiries.
• Communicate with third party and applications support to report system problems and recommend system enhancements & automation.
• Perform daily and monthly reconciliation of financial transactions.
• Ensure the business is not exposed to any material risks emanating from reconciliation variances.
• Develop models that assist in the reconciliation process to speed up reconciliation and provide accuracy.
• Things can only scale by automation. We expect you to be very data-driven and come up with ways we can automate as many of the processes involved in ensuring our financial health.
• Document processes, procedures, resolution guides, etc. for the settlement team.
• Contribute to financial reporting and balance sheet management.
• Manage internal and external controls for payment processes, escalate and resolve payment issue while working with the Product, Business, and Engineering teams.
• Liaise with partners (banks and processors) to ensure optimal cost structures and verify daily settlements.
• Perform daily and weekly revenue recognition and cost optimization exercises.
• Work with Compliance to design and maintain a process for reporting fraudulent activities to the appropriate regulatory authorities.
• Coordinate with internal teams to develop risk mitigation strategies for payment processing and merchant management.

Requirements

• A First Degree in a relevant field of study.
• A minimum of 2 years of hands-on experience in a similar capacity.
• Relevant certification (ACA, ACCA, CIMA) or have started qualification exams will be a plus.
• Previous experience in the technology industry.
• Great communication skills both written and oral.
• Great Analytics skills.
• Collaborative skills.

Application Closing Date
Not Specified.