Clearing & Settlement (C & S):Reconciliation

Job Description About Clearing and Settlement: The Centralized Reconciliation and settlement team look after all the major parts of the reconciliation of the bank related to Government Business, Merchant Payments, ATM's and networking settlements. They also manage all the disputes related to ATMs and recycler machines by following up with vendors within given timelines and as per RBI guidelines. They are responsible for resolving all the queries, requests and complaints related to Government Business i.e., NPS, APY, RBI agency reporting under which all ministries payments and Receipts. They also manage the recon of PPF, Sukanya Samrudhi, Pensions related to Government sectors. About the Role: The Reconciliation team is responsible for the reconciliation of all the office accounts and of Receivable and payable account. They are also responsible for providing resolution to the merchants and regional teams through ilevarage and for providing International Transaction settlements to the merchants of various regions Key Responsibilities - Responsible for the IAD/WLA/BC/ Purgain Billing Validation and payment to vendors - Responsible for posting and re-checking of batches - Ensure maintenance of TATs for settlement, merchant payments and other accounting activities - Ensure 100% payment processing for the bills received within T+7 basis. - Recover the amount, if any, from the earlier invoices in case of any discrepancies observed while validation of Bills - Co-ordinate with stakeholders for getting all required details for invoice processing. - Responsible for submission of periodic MOC and provision figures with correct details. - Maintain all required MIS for the submission to the Bank Management. - Responsible for development of BC Billing System from vendor (TBD) and implementation of the same - Responsible for deployment of existing ATM Recon system in order to increase percentage of automation. - Drive cost Reduction by way of process improvement / manpower optimization. - Providing Cross Functional Training and re-walkthrough of process for all officials - Drive the implementation of MIGS ESB for seamless vendor payments. - Responsible for the automation of Visa (Ember) / Mastercard (TBD) Accounting and Settlement Process in the System. - Responsible for development of BC Billing System from vendor (TBD) and implementation of the same. - Drive cost reduction by achieving no overdraft payment process to BOA for settlement charges. - Handle new products / services added during the year in A and S Team for implementation. - Ensure that all batches are posted within the TAT. - Ensure error less processing of transactions in terms of wrong batches, duplicate batches, etc. - Conduct post facto verification of batches for control over fraudulent instances etc - Ensure that the operations are being handled to ensure that there are Nil adverse audit remarks. - Ensure that the remarks are replied and corrective actions taken to arrest the issue for non-occurrence of the same in future. - Ensure the process improvements to avoid future audit points - Ensure that additional products / activities added during the year are inserted and executed. - Ensure that the MIS (MOC, Provision, month-end reports, Quarterly reporting) are done properly by the A and S Team - Ensuring system development to reduce people dependency Qualifications: Optimal qualification for success on the job is: - Graduation/ Post-Graduation (MBA preferred) from a recognized institute - Additional Certificate course related to Banking sector Role Proficiencies: For successful execution of the job, the candidate should possess the following: - Knowledge of banking products and services - Knowledge of regulatory guidelines and norms - Good communication (both verbal and written) skill in both English and the local language - Ability to manage complex client situations - Ability to manage risk and uncertainty for self and team within a dynamic priority-setting environment - Ability to handle pressure and meet deadlines #ComeAsYouAre We are dil se open. Women, LGBTQIA+ and PwD candidates of all ages are encouraged to apply