Officer, Merchant Reconciliation

RESPONSIBILITIES

 Reconciliation of Merchant transactions

• Perform daily, weekly, and monthly reconciliation of merchant transactions across POS and e-commerce platforms.
• Reconcile settlement reports from card schemes (Visa, MasterCard, CUP) with internal transaction records and GL postings.
• Identify, investigate, and resolve reconciliation breaks or mismatches in a timely manner.

 Merchant Settlement Oversight

• Verify that merchant payments are processed accurately and within agreed timelines.
• Ensure that merchant commissions are correctly calculated and posted to the appropriate GL accounts.
• Reconcile merchant chargebacks in the event of disputed card transactions and ensure proper documentation and resolution.

Merchant Inventory Monitoring, Tracking and Reporting

• Maintain an up-to-date inventory register for POS devices, SIM cards, paper rolls, chargers, cables, and all other consumables.
• Opening vs closing stock
• Items requisitioned
• Consumption rate
• Stock at risk
• Upcoming needs
• Conduct monthly checks to confirm current physical stock against system records in TMS and Asset Finance register.
• Flag discrepancies for immediate investigation and resolution.

Establishing Accurate Re-order Levels

• Determine minimum stock levels based on usage trends, lead times, vendor delivery timelines, and business growth.
• Regularly review consumption patterns (e.g., deployment rates, branch requests, replacement frequency).
• Adjust re-order points annually depending on business growth needs.
• Update merchant inventory registers/ dashboards and trigger alerts when quantities approach set thresholds.

Compliance & Risk Management

• Ensure adherence to internal controls, regulatory requirements, and Visa /Mastercard scheme rules.
• Maintain proper documentation and audit trails for all reconciliation activities.
• Collaborate with the posting officer to ensure clear segregation of duties and avoid conflicts of interest.
• Escalate unresolved issues to the Card Operations Manager, Reconciliation & Settlement with proposed resolutions.

Requirements

QUALIFICATIONS AND EXPERIENCE

• Bachelor’s degree in Finance, Accounting, Business, or a related field.
• Minimum 2–3 years of experience in reconciliation, preferably in a banking or payments environment.
• Familiarity with card scheme operations and merchant settlement processes.

SKILLS AND COMPETENCIES

• Strong analytical and problem-solving skills.
• High attention to detail and accuracy.
• Proficiency in Excel and reconciliation tools.
• Knowledge of GL systems and financial reporting.
• Ability to work independently and meet tight deadlines.
• Strong communication and interpersonal skills.