Reconciliation and Settlement Intern at Bankly

Company Info

Bankly is an innovative financial technology company that is revolutionizing cash digitization and consumer services through data-driven approaches. Since its establishment in 2019, Bankly has dedicated its efforts to creating a robust infrastructure that caters to Nigeria’s informal sector. With an extensive network of approximately 15,000 agents spread across Nigeria, we have successfully served around 35,000 customers, providing them with convenient and secure financial solutions.

Title: Reconciliation and Settlement Intern

Location: Lagos

Job Objective

  • 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 transactions with partner organizations including banks, payment processing networks, and service providers and respond to any dispute issues.

Operational Responsibilities

  • Perform reconciliation for banks and provide reports to the 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.
  • Carry out income/fee’s reconciliation with Settlement banks, NIBSS and other clients and ensure value is transferred to account promptly.
  • Perform daily/weekly analysis of bill payment data: Trends, failure rates etc and extract Business Intelligence from payment data.
  • Ensure daily reconciliation of and correct postings of all cards and other electronic channel transactions.
  • Verify the incoming and outgoing payment reports.
  • 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 has been accounted for and paid into the company’s income account on a maximum of T+1 day (Transaction day + 1)
  • Settlement reports are delivered daily by 12pm for previous days’ transactions.
  • Reconciliation is updated daily and concluded & delivered by the 5th of the subsequent month.
  • Product analytics concluded & delivered by 5th of the subsequent month.
  • 0% repeat Audit finding
  • Satisfactory audit rating
  • Ensure that open items are not older than 5 days.

Educational Qualifications and Experience

  • A business-related Bachelor’s Degree (or higher) preferably in Accounting or other disciplines in Social Sciences from a recognized University.
  • Minimum of 2 years working experience in cards/mobile/payment finance, fully integrated into all aspects of settlement and daily reconciliation process.
  • Detailed understanding of the operational aspects of payment cards, mobile payments and the banking industry.
  • Previous experience within a Reconciliation, Settlement or Middle Office environment.

Deadline: Not Specified.

How to Apply: Interested and qualified candidates should send their CV to: [email protected] using the Job Title as the subject of the email.

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    April 20, 2024