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Reconciliation and Settlement Officer at Umba

Posted on Wed 28th Sep, 2022 - hotnigerianjobs.com --- (0 comments)


Umba combines advanced tools and techniques to optimize risk exposures in emerging markets that are currently underserved by traditional banking services. The Umba platform allows users to apply, receive and repay microloans through their mobile phone while using machine learning to underwrite using a risk score that is highly accurate and improves over time.

Umba has just rolled out a new online POS solution and is teaming up with some of the biggest e-commerce merchants to increase customers access to online goods and services.

We are recruiting to fill the position of:

Job Title: Reconciliation and Settlement Officer

Location: Lagos
Employment Type: Full Time
Level: Experienced

Job Description

  • Head of Settlement is a role reporting to the Finance Manager. The incumbent will take charge of the day-to-day monitoring of transactions, reconciliation, settlements, and resolution of exceptions and disputed transactions.

Responsibilities

  • Ensure daily processing of net settlement files of banks via Nigeria Interbank Settlement Systems, Interswitch, or any other entity in line with SLA and industry standards.
  • Liaise with counterparties (NIBSS, processors, settlement banks) in relation to all daily settlements
  • Daily reconciliation of all balances and transactions on electronic settlements/payments accounts with correspondent banks to internal general ledgers
  • Render daily and periodic reconciliation reports.
  • Review of account statements and settlement reports.
  • Addressing unallocated loan repayments
  • Review and ensure that all partner charges in respect of payment services are accurate.
  • Ensure that all relevant transactions are posted accurately from both an accounting and customer perspective.
  • Ensure that failed settlement transactions are tracked and resolved daily
  • Take ownership and respond to transaction issues, queries and other reconciliation and settlements escalations
  • Investigate and effectively manage the resolution of disputed transactions in collaboration with relevant stakeholders
  • Review of expectations when not available and appropriate escalation
  • Review of exceptions (items outstanding post reconciliation; that is a comparison of internal expectations with statements/settlement entries).
  • Escalation of exceptions to the relevant stakeholders
  • Ensure no loss of funds. Detect and escalate any loss of funds to all stakeholders promptly.

Qualifications and Experience

  • Bachelor's Degree in Banking & Finance, Accounting or related discipline.
  • Must have banking experience.
  • 4 - 5 years experience in a settlement and reconciliation role in a regulated financial institution.
  • Experience in setting up reconciliation and settlement processes as well as process improvement.
  • Supervisory experience.

Essential Skill / Qualities:

  • Understanding of payment industry transaction dynamics
  • Ability to work with a massive data set
  • Attention to details
  • Understanding of reconciliation
  • Microsoft Excel skills

Work Status:

  • Valid work authorization for Nigeria

Application Closing Date
Not Specified.

Method of Application
Interested and qualified candidates should:
Click here to apply online

Note

  • Umba is proud to be an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.
  • If you have a disability or particular need that requires accommodation, please let us know.

  

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