Merchant Settlement & Accounts Specialist, Sharjah

Careers for a Changing World of Islamic Banking Merchant Settlement & Accounts Specialist Posted On: 04 Dec, 2024 Type: Permanent Job Category: Card Operations Division JOB PURPOSE Manage accurate and timely settlement of Merchant Transactions. Maintain merchant account details, prepare monthly and quarterly reports, and ensure adherence to schemes billing requirements. Submit Quarterly Member reporting to Visa & Master Card. Coordinate closely with teams, ensuring compliance with financial standards and addressing merchants' queries related to Payments, Transactions, Chargebacks, etc. KEY ACCOUNTABILITIES Efficiently handle daily schemes settlement, ensuring accuracy and timeliness. Reconcile Settlement data between internal systems, Schemes, payment gateways, and banking partners/Merchants. Identify and resolve settlement discrepancies, failed transactions, and correct them for resubmission. Coordinate with relevant teams, monitor settlement reports, and provide detailed insights to management. Maintain accurate records of merchant accounts, fee structure, and ensure compliance with internal policies and regulatory requirements. Respond to merchant inquiries regarding account details, settlements, and transactions. Manage risk by monitoring and identifying suspicious or high-risk merchant activity. Prepare detailed financial and performance reports for merchants and management. Analyze trends and provide actionable insights to improve merchant operations. Ensure compliance with scheme billing requirements, including interchange fees and processing fees. Liaise with card schemes to stay updated on billing, mandates, and compliance requirements. Monitor data integrity edits from Master Card. Reconcile schemes fees with settlement reports and flag any discrepancies. Handle audits and reviews. Possess a strong understanding of Schemes Rules & regulations, payment settlement processes, and merchant accounts. Be proficient in financial reconciliation and settlement systems. Analyze large volumes of transaction data to identify trends or discrepancies. Maintain a high level of accuracy in handling financial transactions and reporting. Exhibit strong written and verbal communication skills to interact with internal teams, merchants, and stakeholders. Identify and resolve issues related to settlements, billing, and account discrepancies. Familiarity with PCI-DSS standards and regulatory requirements. Ensure timely and accurate settlement and account maintenance. Submit quarterly reports on time. Qualifications, Experiences & Technical Skills: Familiarity with Merchant systems, onboarding platforms, and digital tools. Ability to address and resolve issues during the onboarding process. Knowledge of KYC, AML, and other regulatory requirements. Ability to manage multiple onboarding processes simultaneously. Years of experience: 3 to 5 years. #J-18808-Ljbffr