At Renmoney, we believe finance should be simple, useful, and accessible to everyone. We are passionate about leveraging data-driven insights to better understand our customers and build useful financial products for personal and business needs—including convenient loans, savings plans, and investment opportunities designed to help you achieve more.

Job Type

Full Time

Qualification

BA/BSc/HND

Experience

2 - 4 years

Location

Lagos

Job Field

Banking

Key Responsibilities

Card Transaction Reconciliation

• Perform daily reconciliation of card transactions across all payment channels, including POS, ATM, Web/IPG, Credit Card, Agency Banking, and other digital payment transactions.
• Reconcile transactions between Mambu, the Card Management System, payment switches (Interswitch, Mastercard, etc.), settlement banks, and internal General Ledger accounts.
• Ensure all reconciliation activities are completed within the approved Service Level Agreements (SLAs).

General Ledger Reconciliation

• Reconcile all card-related General Ledger (GL) accounts on a daily basis.
• Monitor outstanding balances and investigate unreconciled items.
• Ensure suspense and settlement GLs are cleared promptly.
• Maintain reconciliation schedules and supporting documentation.

Exception Management

• Investigate and resolve reconciliation breaks and settlement discrepancies.
• Track aged outstanding items until resolution.
• Escalate unresolved exceptions in accordance with established procedures.
• Coordinate with internal and external stakeholders to resolve exceptions within agreed timelines.

Settlement Validation

• Validate settlement reports received from payment schemes, payment switches, and settlement banks.
• Confirm that settlement amounts agree with transaction processing records.
• Identify duplicate settlements, missing settlements, failed settlements, and settlement variances.
• Monitor settlement timelines and ensure prompt escalation of delays.

Reporting

• Prepare and distribute daily card reconciliation reports, outstanding reconciliation items reports, settlement exception reports, GL reconciliation reports, and aged outstanding items reports.
• Produce monthly management reconciliation dashboards and operational loss reports where applicable.

Operational Risk & Control

• Ensure compliance with approved reconciliation procedures and internal control standards.
• Identify operational control weaknesses and recommend improvements.
• Maintain complete audit trails for all reconciliation activities.
• Report operational incidents, control breaches, and suspected fraudulent activities promptly.

Process Improvement

• Recommend automation opportunities for reconciliation activities.
• Participate in User Acceptance Testing (UAT) for new card products and system enhancements.
• Contribute to the continuous improvement of reconciliation processes and controls.

Requirements

Experience

• Minimum of 2–4 years' experience in Banking Operations, Card Operations, Reconciliation, Settlement, Finance Operations, or Electronic Payments.
• Experience in card reconciliation within a commercial bank, fintech, or payment service provider is an added advantage.

Technical Knowledge

• Good understanding of card transaction lifecycle and settlement processes.
• Knowledge of payment schemes such as Interswitch, Mastercard, and NIBSS.
• Understanding of General Ledger reconciliation.
• Knowledge of electronic payment operations.
• Familiarity with Core Banking Systems (e.g., Mambu) is an advantage.
• Proficiency in Microsoft Excel, including Pivot Tables, VLOOKUP/XLOOKUP, and data analysis.

Method of Application

Interested and qualified candidates should apply via the Renmoney careers page on jobs.workable.com.

Disclaimer: This job description has been reformatted by AI for readability. Please verify all details with the employer before applying.