JOB PURPOSE

• Manage accurate and timely settlement of Merchant Transactions.
• Maintaining merchant accounts details, preparing monthly, quarterly reports & ensuring adherence to schemes billing requirement.
• Submission of Quarterly Member reporting to Visa & MasterCard.
• Role involves close coordination with teams, ensuring compliance with financial standards and addressing to merchants queries related to Payments, Transactions, Chargebacks etc…

KEY ACCOUNTABILITIES

• Efficiently handles daily schemes settlement, ensure accuracy of daily settlement of merchant transactions, ensuring accuracy and timeliness.
• Reconcile Settlement data between internal systems, Schemes, payment gateways and banking partners/Merchants.
• Identify and resolve settlement discrepancies, identify failed transactions, correction of failed trans. & its resubmission.
• Coordination with relevant teams, monitor settlement reports and provide detailed insights to management.
• Settlement accuracy as per MCC & IRD, maintain accurate records of merchant accounts, fee structure etc…
• Compliance with internal policies and regulatory requirements for merchant account management.
• Respond to merchant inquiries regarding account details, settlements, transactions inquiries and other financial matters.
• Manage risk by monitoring and identifying suspicious or high-risk merchant activity.
• Preparing detailed financial & performance reports for merchants and management, including transactions summaries, fees and settlements.
• Submission of Quarterly reporting to CBUAE, Visa & MasterCard.
• Analyze trends and provide actionable insights to improve merchant operations.
• Ensure timely distribution of reports to merchants and relevant stakeholders.
• Ensure compliance with scheme billing requirements, including interchange fees, processing fees and other associated costs.
• Liaise with card schemes to stay updated on billing, mandates, enhancements, changes and compliance requirements.
• Monitoring Data integrity Edits from MasterCard.
• Reconcile schemes fees with settlement reports and flag any discrepancies.
• Should be able to handle the Audits and reviews.

• Strong understanding of Schemes Rules & regulations, payment settlement process, merchant accounts and Schemes billing structure.
• Proficiently in financial reconciliation and settlement system.
• Ability to analyze large volumes of transaction data and identify trends or discrepancies.
• High level of accuracy in handling financial transactions and reporting.
• Strong written and verbal communication skills to interact with internal team, merchants, schemes and stakeholders.
• Ability to identify and resolve issues related to settlements, billing, account discrepancies etc….
• Familiarity with PCI-DSS standards & regulatory requirements and scheme compliance guidelines.
• Timeliness and accuracy of settlement, interchange, account maintenance…
• On time submission of Quarterly to Schemes, delivery of quarterly reports

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
• Fields: Merchant Settlement & Accounts