- Company: Arca Payments Company Limited
- Location: Nigeria
- State: Nigeria
- Job type: Full-Time
- Job category: Administrative/Secretarial Jobs in Nigeria
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
- 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.
- 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.
- A business-related Bachelor’s degree (or higher) preferably in Accounting or other discipline in Social Sciences from a recognized University.
- 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.
Application Closing Date