Summary
Network International is hiring a Settlement Officer in Riyadh, Saudi Arabia. The role covers daily reconciliation of card issuing transactions, processing card-scheme settlement files, resolving discrepancies, and preparing settlement reports and accounting entries. The successful candidate should have a bachelor’s degree or equivalent accounting education and at least 2 years of card or bank back-office operations experience, including GL reconciliation and settlement. Knowledge of card schemes, accounting, and Microsoft Excel, along with good written and reading English, is required.
The posting
As published on network.ae. Pulled from the employer's site and shown as they wrote it.
About the Job:
The jobholder is Responsible for performing daily reconciliation and settlement activities for card issuing transactions, ensuring accurate processing, timely resolution of discrepancies, and compliance with operational procedures, scheme regulations, and internal controls.
Key Responsibilities
- Perform daily reconciliation of card transactions across issuing systems, networks, and bank accounts.
- Monitor and process settlement files received from card schemes (Visa, Mastercard, MADA, etc.).
- Investigate and resolve reconciliation breaks, outstanding items, and settlement discrepancies within agreed SLAs.
- Prepare and validate settlement reports, accounting entries, and management information reports.
- Coordinate with internal teams, banks, card schemes, and processors for issue resolution.
- Monitor chargebacks, adjustments, fees, and scheme-related settlements.
- Ensure compliance with operational procedures, audit requirements, and regulatory standards.
- Support automation initiatives, process improvements, and system enhancements related to reconciliation and settlement operations.
Experience / Skills Required
Education: bachelor’s degree or equivalent accounting education qualifications.
Experience:
• 2+ years of card operations/ bank back-office operations, with the financial GL reconciliation and Settlement experience.
Knowledge/Skills:
- Exposure to card management systems.
- Exposure to card Schemes and Scheme related reports.
- Understanding of Visa, Mastercard, and local payment scheme settlement cycles.
- Knowledge in Accounting (Receivables, Payables & Bank account)
- Excellent knowledge of Microsoft Excel and the ability to effectively utilize AI tools for productivity and process improvement will be an added advantage.
- Good English communication skills (reading & writing).
- Good interpersonal skills.
- Excellent team working skills.