Senior- Settlements and Reconciliation Manager

Reporting Line:            Chief Operations Officer

Job Location:               Victoria Island, Lagos + Partly Virtual

Job Purpose: The Settlement and Reconciliation Officer is responsible for resolving all issues arising from electronic transactions and perform automated back-office processing such as dispute processing, settlement, reconciliation and reporting.

In addition and more specifically, the S&R manager must be able to create chart of accounts, provide insights and product documentation to developers and product managers so as to ensure our infrastructure has automated and accurate settlement and  reconciliation processes.


  • Processing and settlement of transactions initiated from account/wallet transfers, debit or credit cards and USSD and other modes across various platforms
  • Ability to develop processes for chart of accounts to take into consideration transaction ID’s, statutory transaction cost, revenue share etc and other parameters that ensure accurate settlement and reconciliation of transactions
  • Attending to customer and merchant disputes and ensuring prompt resolution
  • Liaising with switching companies and card schemes on Settlement issues
  • Rendition of daily CBN regulatory requirement report
  • Settlement of transactions routed through various payments platforms
  • Development and implementation of strategies to reduce operational risk and ensure safe and reliable settlement processing.
  • Daily reconciliation of accounts for exceptions and subsequent escalation of exceptions to the switch and other vendors or third parties for resolution.
  • Ensures timely reconciliation of all transactions done on the bank’s terminals
  • Performs settlement of interbank card transactions such as VISA, MasterCard, Verve
  • Executes chargebacks and dispute resolutions of local and international cards transactions
  • Performs electronic transaction analytics and reporting using SQL and Excel.
  • Develop Business Requirement Documents and SOPs for the automation of settlement processes
  • Perform User Acceptance Tests (UATs) to certify that newly deployed and existing modified applications on the platforms fulfill the specified requirements.

Specifications & Requirements:

The ideal candidate must be;

  • creative thinker and problem solver who can resolve issues arising from online transactions timely and efficiently
  • A self-starter and self-motivated person who is able to influence and direct the settlements and reconciliation process
  • Passionate about solving problems and is focused on customer experience and outcomes

The Ideal Candidate must have;

  • A Bachelor’s degree or its equivalent
  • Digital Financial Services or banking industry experience
  • Experience with electronic payment systems
  • In-depth knowledge of payment processing- gateways, core banking etc
  • Leadership and team work skills,
  • Organisation and Time management skills
  • Proficiency in the use of Ms office suites.
  • Excellent communication skills and interpersonal skills.
  • Attention to details and accuracy
  • Basic knowledge of IFRS
  • Basic financial modelling and financial statement analysis skill
  • Strong analytical and problem-solving skills.

Salary: Salary band starts at N400,000 naira with perks and bonuses. Company is willing to increase any of the wage parameters for an exceptional candidate.

TechAdvance is a payment application development company with a strategic focus in developing and deploying niche payment companies to serve the needs of large public and private sector organisations in Nigeria.