Settlement Officer

Role Overview

Settlement Officer at Network International. The jobholder performs daily reconciliation and settlement activities for card issuing transactions, ensuring accurate processing, timely resolution of discrepancies, and compliance with operational procedures, scheme regulations, and internal controls.

Role Purpose

To execute daily reconciliation and settlement operations for card issuing transactions, maintaining accuracy, meeting service level agreements, and ensuring full compliance with scheme regulations and internal controls.

Key Responsibilities

Reconciliation & Settlement Operations

• Perform daily reconciliation of card transactions across issuing systems, networks, and bank accounts.
• Monitor and process settlement files received from card schemes including Visa, Mastercard, and MADA.
• Investigate and resolve reconciliation breaks, outstanding items, and settlement discrepancies within agreed SLAs.
• Monitor chargebacks, adjustments, fees, and scheme-related settlements.

Reporting & Documentation

• Prepare and validate settlement reports, accounting entries, and management information reports.

Stakeholder Coordination

• Coordinate with internal teams, banks, card schemes, and processors for issue resolution.

Compliance & Governance

• Ensure compliance with operational procedures, audit requirements, and regulatory standards.

Process Improvement

• Support automation initiatives, process improvements, and system enhancements related to reconciliation and settlement operations.

Qualifications & Experience

• Bachelor's degree or equivalent accounting education qualifications.
• More than 3 years of card operations or bank back-office operations experience.
• Financial GL reconciliation and settlement experience required.

Skills & Competencies

• Exposure to card management systems.
• Exposure to card schemes and scheme-related reports.
• Understanding of Visa, Mastercard, and local payment scheme settlement cycles.
• Knowledge of accounting practices including receivables, payables, and bank account reconciliation.
• Excellent knowledge of Microsoft Excel and ability to effectively utilize AI tools for productivity and process improvement.
• Good English communication skills in reading and writing.
• Good interpersonal skills.
• Excellent team working skills.
• Strategic thinking and problem-solving abilities.
• Analytical and data-driven decision-making capabilities.

Additional Information

• Primarily office-based with occasional travel required for meetings, conferences, and training sessions.
• Fast-paced and dynamic work environment.