Settlement and Clearing Officer

The Settlement and Clearing Officer is responsible for ensuring the timely and accurate settlement and reconciliation of financial transactions. This role plays a crucial part in managing the clearing and settlement processes of payments, ensuring compliance with regulatory requirements, and mitigating operational risks.

 Key Responsibilities:

Transaction Settlement:

o   Execute and monitor the daily settlement process for all financial transactions.

o   Ensure timely and accurate settlement of payments, including processing of incoming and outgoing funds.

Clearing Operations:

o   Manage the clearing process, ensuring that all transactions are correctly cleared and any discrepancies are promptly addressed.

o   Liaise with clearing houses and other financial institutions to resolve any issues related to the clearing process.

Reconciliation:

o   Perform daily, weekly, and monthly reconciliations of accounts.

o   Investigate and resolve any discrepancies or issues identified during the reconciliation process.

Reporting:

o   Prepare and submit regular reports on settlement and clearing activities to senior management.

o   Maintain accurate records of all transactions and reconciliations for audit purposes.

  Process Improvement:

o   Continuously review and improve settlement and clearing processes to enhance efficiency and accuracy.

o   Implement best practices and leverage technology to streamline operations.

  Customer Service:

o   Provide support to clients and internal teams regarding settlement and clearing queries.

o   Resolve client issues promptly and efficiently to ensure high levels of customer satisfaction.

Team Collaboration:

o   Work closely with other departments, such as Finance, IT, and Customer Support, to ensure seamless operations.

o   Assist in training and mentoring junior team members.

Requirements

Qualifications:

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
•   At least 2 years of experience in settlement and clearing operations, preferably in the financial services or fintech industry.
•   Strong understanding of payment systems, clearing mechanisms, and reconciliation processes.
•   Excellent analytical and problem-solving skills.
•   Proficiency in using financial software and Microsoft Office Suite (especially Excel).
•   Strong attention to detail and high level of accuracy.
•   Good communication and interpersonal skills.
•   Ability to work under pressure and meet tight deadlines.
•   Knowledge of regulatory requirements related to settlement and clearing operations.
•  Key Competencies:
• Analytical Thinking: Ability to analyze complex data and identify discrepancies.
•   Attention to Detail: Ensures accuracy and thoroughness in transaction processing and reconciliations.
•   Communication Skills: Effectively communicates with internal and external stakeholders.
•   Problem-solving: Identifies issues and resolves them efficiently.
•   Teamwork: Works collaboratively with colleagues to achieve common goals.
•   Time Management: Manages time effectively to meet deadlines and handle multiple tasks simultaneously.

Benefits

• Pension Plan
• Paid Time Off
• Training & Development
• Performance Bonus
• free lunch