Job Description
PAYMENTS & RECONCILIATION OFFICER – LUSAKA
PremierCredit is Zambia’s leading and fastest growing International financial technology (fintech) company operating in emerging markets in Southern Africa. The company operates an online microlending and Investment platform for small businesses and individuals, making financial services inclusive, accessible, and affordable.
As part of our expansion plan, we are inviting applications from suitably qualified, experienced, ambitious, self-motivated individuals to apply for the position Of Payments and Reconciliation Officer.
JOB BRIEF
Payments and Reconciliation Officer in a payment gateway business plays a crucial role in ensuring the smooth functioning of financial transactions, reconciliation, and reporting.
KEY RESPONSIBILITES:
Monitoring Transactions: Overseeing daily transactions processed through the payment gateway to ensure accuracy and timeliness.
Transaction Verification: Verifying that all transactions, including payments and refunds, are executed correctly.
Resolving Payment Issues: Investigating and resolving any issues with failed, delayed, or incorrect payments.
Bank Reconciliation: Comparing transactions between the payment gateway, bank statements, and merchant accounts to ensure consistency.
Identifying Discrepancies: Investigating and resolving any differences between gateway records and bank/merchant statements, such as missing payments or incorrect charges.
Daily/Weekly/Monthly Reconciliations: Performing regular reconciliations to ensure that all incoming and outgoing payments match the records across all systems.
Generating Reports: Preparing detailed financial reports on payment processing, reconciliation, and settlements for management and regulatory compliance.
Data Analysis: Analysing payment trends, fees, and other financial metrics to improve efficiency and reduce operational costs.
Record-Keeping: Maintaining accurate records of all transactions, reconciliations, and reports for auditing purposes.
Merchant Settlements: Managing the process of settling funds with merchants, ensuring they receive payments on time.
Dispute Resolution: Handling chargebacks, disputes, and refunds, ensuring that they are reconciled correctly.
Fee Management: Ensuring that fees, commissions, and other charges are correctly applied and reconciled between the payment gateway, merchants, and banks.
Adherence to Regulations: Ensuring compliance with financial regulations, such as PCI DSS (Payment Card Industry Data Security Standard) and anti-money laundering (AML) rules.
Risk Mitigation: Identifying and mitigating financial risks such as fraud, duplicate payments, or unauthorized transactions.
Auditing Support: Assisting internal and external audits by providing accurate records and reconciliations.
Working with Finance Teams: Coordinating with finance and accounting teams to ensure accurate posting of transactions and reconciliations in the company’s financial systems.
Supporting IT and Operations: Working with IT teams to resolve technical issues with the payment gateway and ensuring that reconciliation processes are automated where possible.
Handling Queries: Responding to queries from customers or merchants regarding payments, discrepancies, or reconciliation issues.
Providing Insights: Offering insights and advice to merchants about payment flows, transaction trends, and improvements.
Automation and Efficiency: Collaborating with system engineers and developers to automate payment and reconciliation processes to reduce manual intervention.
Implementing Best Practices: Continuously improving processes and introducing best practices for payment processing and reconciliation.
REQUIREMENTS:
Bachelor’s degree in Commerce Accounting and Finance, or a related field.
Prior experience (typically 2-3 years) in the financial services sector, such as digital financial services, banking, or a fintech environment, is essential. Specific experience in electronic payment systems, settlement processing, or reconciliation roles is often sought.
Strong skills in Microsoft Excel and other financial software are crucial.
Familiarity with payment gateways, card transactions, and reconciliation software is highly beneficial