Finance Reconciliation Officer

High-level Job Purpose Statement

The Reconciliation Officer is responsible for resolving all issues arising from electronic transactions and performing automated back-office processing such as dispute processing, settlement, reconciliation, and reporting. In addition, and more specifically, the S&R manager must be able to create a chart of accounts and provide insights and product documentation to developers and product managers to ensure our infrastructure has automated and accurate settlement and reconciliation processes.

Essential Duties and Responsibilities

• Ensure accurate and timely reconciliation of financial transactions within the organization. 
• Work closely with internal teams, external parties, and financial institutions to reconcile accounts, resolve discrepancies, and facilitate the smooth settlement of transactions.
• Analyze data, identify errors or discrepancies, and implement corrective actions to maintain financial integrity and compliance.
• Monitor and perform the reconciliation of clients’ funds daily.
• Prepare daily balance reports for all banks and payment solution providers.
• Follow-up errors to be corrected and the ability to coordinate with relevant departments in the company.
• Communicate with external payment providers and banks on discrepancies and info required.
• Prepare monthly reports regarding Balances, Losses, Charges and Chargebacks.
• Prepare daily/weekly/monthly reports, related funds, and balances.
• Identifying, investigating, and resolving any discrepancies promptly liaising internally and externally as appropriate.
• Liaise with other departments to investigate discrepancies including developers, finance, and auditors.
• Daily monitoring of financial institutions and payment providers' balances and assessing any settlement or transfer that needs to be requested. Credit risk analysis on vendors.
• Delivering management information from the Reconciliation Team.
• Manage personal and team workloads when needed.
• Adhere to corporate standards and procedures relating to reconciliation activities.
• Review and address the daily queue of inquiries from the business and other Operations teams related to the reconciliation.
• Prepare and present daily and monthly metrics on recon status.
• Organization and delivery of reconciliation information to the Internal Audit and Reporting team.
• Communication and coordination with various departments within the Company and third parties for issue resolution.
• Work with project managers on software/tools to automate reconciliation processes/checks.
• gathering requirements and assisting in delivering the business with data analysis related to payments and the cash flow.
• Manage, review, and update internal issue logs and report periodically when there is a reconciliation gap. Follow through to resolution of any gaps and provide relevant documentation on the resolutions.
• Audit and maintain safekeeping records of discrepancies.
• Document and provide input for monthly reports to management on identified control gaps and key exceptions with needed process improvement opportunities.
• Readily available for ad hoc requests from management.