About the Role
This position provides vital support to the Manager of PSP Operations, primarily assisting the PSP Settlement Team Leader to ensure ongoing operational efficiency and compliance in settlement activities. The role focuses on maintaining seamless settlement processes, implementing effective control measures, resolving issues promptly, and ensuring the integrity of reconciliations in adherence to established policies and standards.
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Key Accountabilities
- Settlement Team Leader Backup: Act as the designated backup for the PSP Settlement Team Leader during periods of leave, absence, high workload, or operational emergencies to ensure continuous operation of daily settlement and reconciliation activities.
- Operational Oversight: Support in the monitoring, prioritization, and coordination of daily PSP Operations and Settlement tasks to achieve cut-off times, service levels, accurate performance, and compliance with control standards.
- Team Support & Work Allocation: Assist the Settlement Team Leader with work delegation, capacity planning, staffing needs, coaching, cross-training, and resolution of complex operational issues.
- Checker & Approval Responsibilities: Review and approve settlement entries, amendments, reconciliations, corrections, reversals, and adjustments within assigned authority, while ensuring compliance with maker-checker principles and maintaining exhaustive supporting documentation.
- Reconciliation & Account Substantiation: Contribute to daily and monthly reconciliation of PSP General Ledgers (GLs), bank accounts, merchant accounts, and settlement files; monitor aging items, and guarantee thorough investigation, documentation, escalation, and resolution of discrepancies.
- Settlement & Financial Control: Supervise settlement cycles, monitor cut-off times, review exceptions, and ensure funding requirements are met; validate settlement reports to guarantee accurate and prompt settlements to merchants, partners, and internal accounts.
- Incident & Escalation Management: Direct investigations into settlement delays, mismatches, duplicate transactions, system issues, and financial exceptions while ensuring significant risks and unresolved matters are escalated to the Manager of PSP Operations.
- Management Information & Reporting: Assist in the preparation and review of settlement summaries, reconciliation status reports, aging reports, variance explanations, root-cause analyses, and revenue information for Management and Finance.
- Risk, Compliance & Audit: Advocate for adherence to bank policies, regulatory mandates, operational risk measures, and internal control frameworks; assist in audit processes, manage findings closure, and implement corrective measures.
- Process Improvement & Change Delivery: Identify process inefficiencies and control weaknesses; support updates to standard operating procedures (SOPs), automation initiatives, user acceptance testing (UAT), system enhancements, new product launches, and operational migration processes.
- Stakeholder Coordination: Collaborate closely with Finance, IT, Product, Compliance, Audit, external business partners, and relevant internal teams to promptly address operational and settlement issues.
- Business Continuity & Delegation: Provide broad backup support across PSP Operations as necessary and perform delegated tasks from the Manager of PSP Operations to maintain service continuity.
Requirements
- Education and Experience
- Bachelor’s degree in Finance, Accounting, Business Administration, or a related field preferred.
- Minimum of 6-8 years of experience in banking, payment services, PSP operations, settlement, or reconciliation.
- Previous experience supporting a team leader, overseeing operational activities, or acting in a deputy/backup role is preferred.
- Strong hands-on knowledge of settlement, reconciliation, GL substantiation, maker-checker protocols, exception management, and operational risk.
- Proficient in banking applications and Microsoft Office; command of English is necessary, and proficiency in Arabic is considered an advantage.
