About the Role
In this position, you will ensure that every dirham is accounted for in transactions for government entities, corporates, merchants, and wallet holders. Your responsibilities will include managing daily reconciliations, verifying payouts, and establishing accounting processes for new products. You will also be instrumental in automating manual processes to maintain control as transaction volumes increase.
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Responsibilities
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Transaction Reconciliation
- Run daily transaction-level reconciliation, matching credits to merchant and entity wallets against the end-of-day (EOD) file.
- Reconcile across various channels and partners, including banks and billers, ensuring proper wallet credits.
- Execute multi-way reconciliations as needed, aligning EOD files with clients' transaction data.
- Investigate and resolve unmatched items and suspense balances within specified timelines; escalate unresolved issues.
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Payouts and Settlement
- Before each payout, ensure that the total balance matches the scheduled payout amount.
- After payouts, confirm receipt of funds in beneficiary accounts and investigate any failed transactions.
- Verify that refunds and chargebacks are netted against settlements correctly.
- Ensure settlements to multiple beneficiaries are conducted as per client agreements.
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Revenue Assurance
- Confirm transaction fees and MDR against contracts before payment of invoices.
- Reconcile client wallet funds with bank balances meeting Central Bank of the UAE requirements.
- Prepare monthly reports detailing revenue, cost, and margin by client and product.
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Revenue Leakage Detection
- Conduct regular checks for revenue leakage, ensuring fee charges align with expectations.
- Audit pricing setup against signed contracts and identify discrepancies.
- Investigate potential sources of revenue loss, such as zero-fee transactions and unbilled services.
- Maintain a leakage log to record findings and recovery efforts, reporting monthly.
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Accounting Plans for New Products
- Design the accounting plan for new product launches, including fund flow, ledger mapping, and settlement processes.
- Collaborate with Product, Finance, and IT teams to ensure accurate transaction posting from day one.
- Participate in user acceptance testing for accounting entries and procedures.
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Automation and Process Improvement
- Map manual processes and identify opportunities for automation.
- Collaborate with IT to implement automated systems for reconciliation and payout checks.
- Enhance controls and auditing measures while reducing closure times.
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Controls, Audit, and Reporting
- Maintain thorough reconciliation records for audits.
- Assist Finance with month-end close activities, including revenue recognition and reconciliations.
- Report key reconciliation and revenue assurances to management monthly.
Education
- Bachelor's degree in Accounting, Finance, or a related field.
- Professional finance qualification (CPA, ACA, ACCA, or similar) preferred.
Experience
- 5+ years in revenue assurance, financial control, reconciliation, or auditing.
- Experience in high-volume transaction reconciliation and payouts.
- Background in digital wallets, payment processing, or fintech is highly advantageous.
- Familiarity with designing accounting for new products or processes preferred.
- Experience in automating financial processes is a strong plus.
Technical Knowledge
- Understanding of card payments, digital wallets, and related processes (authorisation, settlement).
- Knowledge of payment pricing structures and accounting for client funds.
- Proficient in Excel; SQL and BI reconciliation tools (such as Power BI) are beneficial.
- Familiarity with ERP or accounting systems.
Skills
- Strong attention to detail and control-oriented mindset.
- Analytical skills to identify patterns and anomalies in data.
- Problem-solving abilities to address root causes.
- Ability to communicate findings effectively across teams.
- Capable of managing multiple tasks and deadlines independently, with a focus on confidentiality.
