Manager- Reconciliation

Job Description

Company Description

Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing and acquiring processing.

Magnati provides government, merchant and institutional clients with an intelligent payments platform that monetises data, using next generation technology to deliver improved experiences and increased efficiency. The Magnati brand is charged with energy and potential and is set to transform payments into possibilities.

Headquartered in Abu Dhabi, Magnati’s expertise and relationships provide a platform for Magnati to attract international partners, while setting a new standard for innovation and delivery in the payments industry.

Job Description

Job Purpose

• Responsible for handling reconciliation for Issuing & Acquiring business lines covering GLs related to Direct & Third-Party clients.
• Responsible to manage the reconciliation team effectively by implementing process governance and controls, to ensure reconciliation errors are minimized and no losses to the organization.
• Responsible to handle day to day interactions with internal & external customers with whom the reconciliations are being shared.
• Responsible for Implementing appropriate systems and controls to reduce the risk of financial losses to the organization and its clients due to operational errors.
• Lead the team empowering them to always maintain customer centric focus adhering to organizational goals and values.
• Develop and publish MIS /Dashboards for client meetings and Magnati management on regular basis

Key Responsibilities

• Effectively and efficiently use technology to bring in improvements and controls for reconciliation processes.  
• Develop and continuously improve the reconciliation team capabilities to handle multiple issuing clients.
• Ensure adequate systems and controls are in place to mitigate the risk that might arise due to operational and human errors.
• Review the reconciliation reports daily to ensure timely action on outstanding items and to ensure same are cleared within the agreed timelines.
• Report and escalate ageing reconciliation items as per defined timelines following the escalation matrix provided to ensure right stakeholders are updated.
• Participate in process improvement initiatives for development of underlying processes, reporting mechanism and systems to facilitate ongoing improvement in efficiency and quality of reconciliations processes.
• Primary contact point for projects and process changes impacting reconciliation processes.
• Conduct regular process reviews to ensure staff productivity is maintained at optimal levels with best-in-class service delivery.
• Develop customer centric, empowered teams to remain aligned with the evolving business and operations environment, in line with the ethics and values of Magnati.
• Ensure agreed SLA’s / TAT are achieved and maintained by the team, with a constant focus to improvise and provide best in class service delivery for clients.
• Review MIS & KPI reports to evaluate any performance gaps and support process improvement strategies.

Qualifications

Threshold Qualifications

• Sound Interpersonal & Communication Skills.
• Experience in managing small to medium size teams.
• Positive attitude when handling complex situations / problem.
• Ability to deliver results under pressure by collaborating with teams.
• Sound knowledge of Reconciliations in Card Payment Domain.
• Experience with data visualization and analytic tools and products.
• Overall understanding of the payment landscape across all participants: issuer, merchant, acquirer, and network.
• Exposure to scheme settlements in both Issuing & Acquiring domain preferred.

Years & Nature of Experience

• University Graduate.
• 3-5 years on Payment domain covering Card Reconciliations.
• Experience in managing small to medium sized teams
• Good Communication skills.