Job Title: Settlement Officer
Employer: Stanbic IBTC Bank Plc
Parent Company: Standard Bank Group
Sector: Banking and Finance
Job ID: 11675
Location: Lagos, Nigeria
Position Category: Group Operations Control
Employment Type: Full Time – Permanent
Shift: No
Regulatory Approval: Yes
Purpose of Job: To support the Team Leader, Settlements and confirmations, and Head, Custody Operations, in providing quality service to clients in the areas of trade matching and settlements of trades.
Key Responsibilities
• Clear understanding of MasterCard and Visa settlement process and procedures.
• Understanding of governing principles and rules of card settlement
• Ensure timely Settlement of Card transactions
• Responsibilities for card suspense accounts (to be cleared daily)
• Balance incoming and outgoing transaction reports against settlement values received from the associations.
• Apply correct entries to relevant Settlement, Expense or Revenue accounts daily
• Responsible for ensuring that existing internal controls and regulatory policies over the settlement process are strictly adhered to
• Ensure that merchant transactions are posted into appropriate GL and accounts
• Prompt funding of Nostro account in conjunction with Global market team
• Ensure appropriate bills/credit from MasterCard and Visa also are processed daily to Expense and Revenue account appropriately
• Ensure Reconciliation Dashboard is properly produced and submitted timely to the appropriate units
Required Skills and Qualifications:
Education;
• University degree
• Market Relevant Qualifications
Required Competencies;
• Sound Card settlement specific knowledge
• Excellent use of MS Office Applications such as Microsoft Word and Microsoft Excel
• Ability to work well within a team, towards a shared goal
• Ability to work under pressure grappling with different tasks
• Ability to motivate others within the team to ensure optimal productivity and service delivery
• Creative in looking for and suggesting improvements
• Ability to convey factual information clearly and accurately
• Self-motivated
• Integrity
• Customer service oriented
• Good verbal and written communication skills
• Ability to remain calm under pressure Methodical, organised, accurate and pays attention to details
• A general knowledge of accounting principles
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