Job Description
We are seeking a Reconciliation & Payments Specialist to manage daily financial reconciliations, payment processing, and transaction analysis, ensuring accuracy and efficiency in our financial operations. This role will work closely with partner banks, internal teams, and external stakeholders to maintain financial integrity, resolve discrepancies, and manage suspense accounts.
Key Responsibilities:1. Daily Reconciliations & Reporting - Prepare and execute daily settlement reconciliations to ensure accuracy of transactions.
- Generate and review MasterCard (MC) advisement reports for internal records and partner bank submission.
- Perform daily balance reconciliations to track and validate account balances.
- Share financial reports with the partner bank and relevant stakeholders.
- Download, verify, and securely store daily bank statements and other financial reports.
2. Suspense Account & Funds Allocation Management - Monitor and manage suspense accounts, ensuring correct allocation of payments to client accounts.
- Investigate and resolve discrepancies by liaising with partner banks and internal teams.
- Coordinate with the bank to return funds transferred from personal accounts that violate agreements.
3. Payments Processing & Issue Resolution - Review and process payments, ensuring that transfers are correctly allocated and executed.
- Investigate and resolve wrong fund transfers, working closely with internal teams and banking partners.
- Collaborate with the operations team to manage chargebacks and cashback payments.
- Verify and process Earned Wage Access (EWA) client repayments.
4. Transaction Analysis & Data Management - Conduct transaction analysis to identify trends, discrepancies, and potential issues.
- Liaise with stakeholders to ensure the availability, accuracy, and completeness of financial data.
- Continuously improve reconciliation and reporting processes to enhance efficiency and accuracy.
