The finance department is looking for a Settlements to join them.
Daily settlement of merchants Daily reconciliation of merchants Assuring accuracy of merchants banking details from TPAs and communicating differences to merchant services immediatelyCreating of settlement file Running reconciliations of payment files Identify errors (omissions / overpayments before file upload) Uploading payment file into the banking environment Identifying new merchants and loading details into settlement Masterfile as well as the banking system Identifying errors with Gross vs Nett Settlements Communication with ABSA iro.
Gross vs Nett settlements corrections Communication with ABSA regarding discrepancies in rates and constant follow up until correction is doneTaking Instructions from Fraud department to hold back Fraudulent transactionsKeeping track of retentions due to fraudulent transactions and recovering lost revenue (MCA payments) Releasing funds upon fraud department instruction and keeping record of these payments ensure three-way match paperwork is completed and approved before any payments are madeArrange debit orders for chargebacks and ensure the debit order has been run successfully Ensure smooth running of the SQL ProcessSpot any errors on the SQL, communicate them and resolve them with ITManage relationships with Banks, Managers, Executives and ColleaguesTarget Criteria : Ensure that all merchants are settled on time, no later than 3pm daily Ensure smooth running of the new (SQL) settlement process implemented Ensure that merchants information is recorded correctly Ensuring that errors such as incorrect settlements or duplicate settlements are kept to a minimumEnsure that all queries are resolved on time (within SLA) and to the merchants satisfactionResolving merchant queries via telephone / email and assisting with merchant walk-ins Providing merchants with recons (of different portfolios) upon requestIdentifying all refunds and chargebacks on the Y&T bank statement and informing both Debtors and Fraud for investigation and retention.
Provide the daily settlement review file to Debtors clearly indicating the reasons for any amounts retained in the MCA column.
Resolve settlement queries for all aggregator merchantsIn order to be considered for the position, the following requirements must be met : Minimum 3 years financial services backgroundAccounting / Finance qualification is advantageous Advanced excel (v-lookups and pivot tables)Experience in dealing with client queriesCashbook and debtors experience would be an advantage - it would help with understanding of how the settlement process impacts these functions and how critical accurate calculations at settlement level is to the debtors reconciliation process