POSITION: SETTLEMENT ANALYST
POSITION SUMMARY:
The Settlement Analyst contributes to the success of the GATHRR, LLC payment program by maintaining accurate records of cash settlement and reconciliation within pre-established corporate guidelines. The Settlement Analyst will ensure that Settlement Accounts and Settlement Advices balance daily with zero variance. Interacting with internal partners, the Settlement Analyst provides support to Treasury Operations, Accounts Receivable, Finance, and the senior management team with regards to cardholder funds, ACH debits, electronic and check payment operations, banking operations, corporate revenues, reserves, pipeline management, and card loads.
RESPONSIBILITIES INCLUDE:
· Work extensively with Director of operations to learn payment industry, Company, and product specific architecture within 10 days of hire.
· Work with existing accounting and reconciliation team to learn existing Settlement and Settlement Account structure between 10 and 20 days of hire.
· Utilize existing accounting knowledge gleaned through industry experience plus newly acquired industry, Company, and product expertise to make recommendations to improve existing Settlement and Reconciliation process between 20 and 30 days of hire.
· Daily, demonstrate proficiency in the following utilizing new Settlement and Reconciliation process:
o Assess and recommend automated payment processes
o Daily Clearing, Settlement, and Reconciliation processes
o Creating and performing Control Self Assessments
o Ensuring the effective daily performance of back office banking / prepaid operations in a controlled environment
o Working with functional business units to enhance back-office processes to meet the changing needs of the organization
o Perform daily reconciliation of Settlement and funding activities within internal and external funding accounts.
o Oversee and coordinate adjustments to loss reserves and float
o Reconcile daily outbound electronic payments
o Reconcile daily outbound check payments
o Analyzes and reconciles cash receipt/return logs to determine items out of balance and subject to timing concerns
o Researches and documents cash posting transaction issues and discrepancies
o Performs payment reversals, rejects and returns as requested
o Reviews payment activity daily for anomalies and ensures customer accounts are correct
o Tracking of unidentified payments, payment processor issues, and manual processing
o Set up new payment processors
o Maintain RPPS, eBox, and check settlement instructions
COMPETENCIES: · Efficiency. Able to produce significant output with minimal wasted and supervised effort. · Honesty / Integrity. Does not cut corners unethically. Earns trust and maintains confidences. Does what is right, not just what is politically expedient. Speaks plainly and truthfully. · Organization and planning. Plans, organizes, schedules and budges in an efficient, productive manner. Focuses on key priorities.
· Aggressiveness. Moves quickly and takes a forceful stand without being overall abrasive. · Follow-through on commitments. Lives up to every verbal and written agreement, regardless of personal costs. · Intelligence. Learns quickly. Demonstrates ability to quickly and proficiently understand and absorb new information. · Analytical skills. Able to structure and process qualitative or quantitative data and draw insightful conclusions from it. Exhibits probing mind and achieves penetrating insights. · Attention to detail. Does not let important details slip through the cracks or derail a project. · Persistence. Demonstrates tenacity and willingness to go the distance to get something done. · Proactively. Act without being told what to d. Brings new ides to company. · Enthusiasm. Exhibits passion and excitement over work. Has a can-do attitude.
QUALIFICATIONS:
· Associate’s Degree (minimum) or Bachelor's Degree (preferred) in Business Administration, Accounting, Finance, Payment services or related field
· 3-5 years in a leading card, payment operations, or payment association environment
· Proficiency in general back-office payment processing, Clearing, Settlement, and Reconciliation principles
· Solid understanding and demonstrated proficiency in NACHA rules, ACH and PositivePay operations.
· Proficiency in managing ACH chargebacks and NOC’s.
· Solid understanding of former SOX 404 Compliance within an operations environment.
· Ability to interface with IT and functional business units to draft, monitor, and implement necessary changes to Business processes
· Proficiency in standards applied to reconciliation of daily Clearing and Settlement, funding, and cash movement activities.
· Proficiency in treasury and card product logistics and fulfillment tracking
· Solid understanding of Reg E (EFT), GLB, OCC, and OTS regulations and guidelines governing the prepaid industry helpful, but not required (Will train the right person).
· Experience with banking, credit, or prepaid Key Risk Indicators
· Ability to write, compile, and maintain Standard Operating Procedures for back-office operations
· Thorough knowledge of NACHA, credit card association rules, regulations and consumer payments regulations
· Superior spreadsheet and writing skills.