Job Summary

Job Description

About Fincra

Fincra is a payment infrastructure for fintechs, platforms and platforms. Fincra provides payments solutions that enables businesses to accept payments securely, make payouts globally and scale your business across borders.

Vision: Our vision is to simply create a world, where movement of money is instant, and as easy as sending a text message.

Mission: To make it easier for businesses in emerging or frontier markets to transact digitally, at low cost and high speed, seamlessly.

The Role

We are looking for a Settlement Specialist. The mission of the role is to define, operate and monitor the critical backend processes that allow Fincra to deliver an industry-leading payments experience to all our customers.

As the Settlement & Reconciliation Specialist at Fincra, you will be responsible for managing the daily reconciliation and settlement of all transactions processed by Fincra, designing and executing operational processes around how we settle payouts to merchants, managing daily, weekly and monthly reconciliation of settlements, and escalations to banking partners, liquidity providers, payment processors and more for any risk-related issues.
You will be responsible for following through with unreconciled items for assigned accounts, analyzing and recording all appropriate debit and credit adjustments. The ideal candidate will be a dedicated, laser-focused, and highly organized team player.

Responsibilities
● Daily reconciliation of accounts for exceptions and escalation of exceptions to the switch and relevant parties for resolution.
● Ensure the business is not exposed to any material risks emanating from reconciliation variances.
● Develop models that assist in the reconciliation process to speed up reconciliation and provide accuracy.
● Perform daily and weekly revenue recognition and cost optimization exercises.
● Document processes, procedures, resolution guides etc. for the settlement team.

● Contribute to financial reporting and balance sheet management.
● Settlement of transactions routed through various payments platforms
● Liaise with partners (banks and processors) to ensure optimal cost structures and verify daily settlements.
● Work with the Compliance team to design and maintain a process for reporting fraudulent activity to the appropriate regulatory authorities.
● Coordinate with internal teams to develop risk mitigation strategies for payment processing and merchant management.
● Monitor backend processes that are critical for delivering a great experience for merchants, and processors.
● Protect business interest and financial position by identifying loopholes within the system, and working with relevant teams for prompt resolution.
● Execute chargebacks and dispute resolutions of transactions.
● Identifying unsettled transactions and actively engaging with partners for resolution.
● Investigating and identifying unsuccessful transactions and processing refunds into customers’ and merchant accounts.
● Engage with the Merchant Success team for transaction-related inquiries and resolution pathways.
● Perform Weekly Analysis of settlement data and extract valuable business intelligence for decision making purposes
● Develop Business Requirement Documents and SOPs for the automation of settlement processes
● Develop and maintain business relations with payment partners
● Ensure funding on Channel Partners.

Job Experience

What We look For In You
● Up to 10 years of experience working in a similar role in banking, fintech or financial services industry
● Experience in local and international cards and payment, fully integrated in all aspects of settlement and daily reconciliation process.
● In-depth knowledge of bank reconciliation and settlement dynamics and processes.
● You have strong knowledge of internal controls and financial reporting.
● Excellent Data Analysis & Reporting skills - You have the ability to turn large data sets into meaningful insights.
● You have the appetite to jump headfirst into a fast-moving, fast-growing, mission-driven team that values creativity and output.

● Excellent organizational skills, ability to prioritize effectively and handle multiple tasks simultaneously in a very fast paced environment. Essentially, you need to be able to deliver under pressure.
● Adaptive: You are curious, optimistic and a skilled problem-solver. You embrace the unknown and are able to adapt to shifts in priorities.You look outside your day to day to ensure you keep learning and growing.
● Proven understanding of the Fintech space and the disruptive opportunities being created.
● Sound judgment, a high degree of professionalism, and the ability to maintain confidentiality.

Job Benefits

Perks
● A chance to be an early member of a high-growth startup
● We pay competitively in the Nigerian market for the matched experience and role
● Amazing work culture and a company that truly cares about creating the best and most fun place to work
● We offer health insurance that includes dental, optical & covers major surgeries.
● Interest-free staff loans upon confirmation
● We currently work fully remote
● We offer vehicle financing for confirmed employees at 50% of asset value.
● Stock options for early employees.
● Annual Training budget.