Settlement Specialist | $75K

Position Summary:

The Settlement Specialist is responsible for reconciling accounts, processing adjustments, assisting with monthly invoicing, as well as tracking financial trends and forecasting.

Responsibilities:

  • Recommends changes in methods or procedures to improve process efficiency.
  • Monitors all issues to ensure resolution and/or escalation to appropriate party for resolution.

Settlement:

  • Reconciles all settlement accounts on a daily basis.
  • Balances bank statements daily, resolving any returns and out of balance conditions.
  • Researches and resolves issues causing out of balance conditions.
  • Works with Networks and internal departments to resolve settlement related issues.
  • Balances monthly interchange billing. Resolves any interchange billing outages.
  • Maintains and documents settlement procedures.

Adjustments:

  • Processes adjustments for financial institutions on a daily basis.
  • Remains knowledgeable on all adjustment timeframes, rules, and regulations.
  • Works with Networks and internal departments to resolve adjustment related issues.
  • Completes monthly adjustment billing spreadsheet per department procedure.
  • Maintains records, filings and supporting documents.
  • Maintains and documents adjustment procedures.

Invoicing:

  • Maintains and updates billing spreadsheets based on Network invoicing and billing reports.
  • Reviews legal agreements and sets up recurring templates. Updates renewal pricing and pricing associated with product additions.
  • Proofs and audits monthly invoicing.
  • Maintains and documents billing procedures.

Requirements:

Minimum Qualifications:

  • Experience in Accounting, billing, reconciliation
  • Strong MS Excel skills

Preferred Qualifications:

  • Accounting degree.
  • Preferred Excel experience: Pivot Tables and V lookups.
  • EFT, audit and reviewing legal agreements.