Senior Officer - Settlement & Reconciliation

ADIB Group; Abu Dhabi; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading company in the UAE is seeking a Senior Officer for Settlement & Reconciliation. The role involves managing financial transactions related to card services, ensuring compliance with banking regulations, and supporting operational controls. Candidates should possess strong knowledge of UAE banking practices and excellent communication skills.

Qualifications

• Senior IC experience required.
• Understanding of UAE banking regulations and AML policies essential.
• Strong customer service and communication skills necessary.

Responsibilities

• Manage all financial transactions related to credit & debit cards.
• Review Visa Fees Reconciliation report for accuracy.
• Supervise Settlement Department team and support their goals.

Skills

Knowledge of UAE banking practices

Knowledge of Anti-Money Laundering regulations

Customer service standards

Bank's Credit Card Issuance Policy

VISA and MasterCard Transactions & Settlements

Good communication skills

Management information skills

Computer skills

Job description

Description

Role: Senior Officer - Settlement & Reconciliation

Location: Abu Dhabi

Role Purpose:

Manage all financial transactions related to credit & debit cards, handling settlement and reconciliation.

Key Accountabilities of the role

• Review Visa Fees Reconciliation report for Covered Cards and Debit Cards.
• Perform QA offshore Settlement Reconciliation Department samples and ensure activities are done correctly in QC sampling.
• Process payment files and EOD in the prime system.
• Review and prepare Cards Settlement department dashboard report.
• Perform QC reconciliation of General Ledger Accounts related to the Card settlement Department activities.
• Prepare Visa Monthly and Quarterly Fees JV and ensure all fees are booked properly for all GL accounts and Stakeholders accounts.
• Prepare Monthly MIS reporting and cards usage reports for Covered Cards, Debit Cards, and Prepaid Cards.
• Perform quarterly Visa and MasterCard Scheme reporting and ensure proper submission.
• Work with Cards center team on new projects and system enhancements to STP process.
• Supervise Settlement Department team and support them in achieving their goals and activities.
• Follow up daily with Offshore Team on different Job Tasks like JV submissions, Visa file processing in Genius, updating SREs to JVs, and monthly JV.
• Submit Settlement Advice daily for Visa international usage and ensure submission to Vendor via STP process through FTS.
• Maintain daily communication with Business Team.
• Provide backup activities for the team.

Results Required:

• Review and verify daily QC settlement activities for VISA/MasterCard by performing daily QA.
• Ensure daily Visa Fees reconciliation is completed and done properly.
• Submit Visa and MasterCard quarterly reporting.
• Submit quarterly Central Bank reporting to FCD.
• Review and send Visa and MasterCard monthly and quarterly fees JV bookings to Offshore Settlement Dept. and ensure posting before month-end.
• Ensure compliance with policies & procedures and perform key operational controls as per ADIB policies & procedures.

Specialist Skills / Technical Knowledge Required for this role:

• Knowledge of UAE banking practices, regulations & risks.
• Knowledge of Anti-Money Laundering regulations issued by the UAE Central Bank and other authorities.
• Good knowledge of customer service standards.
• Good knowledge of the Bank's Credit Card Issuance Policy & Procedures.
• Knowledge of VISA and MasterCard Transactions & Settlements.
• Good communication skills.
• Management information skills.
• Computer skills.

Required Experience:

Senior IC