Reconciliation & Settlement Officer

The Reconciliation & Settlement Officer is responsible for managing daily end-to-end transaction matching, net position calculations, settlement General Ledger (GL) postings, and regulatory reporting across various digital payment channels. This role ensures complete financial accuracy, zero variance in net settlement positions, and strict adherence to the regulatory standards set by the State Bank of Pakistan (SBP). The officer plays a critical role in maintaining the integrity of financial records and supporting smooth settlement operations within a fast-paced banking or fintech environment.

Key Responsibilities

Transaction Reconciliation & Data Validation
Perform daily reconciliation across digital payment channels such as 1Link (IBFT, BPS, ATM), SBP Raast, Visa, and PayPak (POS/E-commerce). Extract, consolidate, and validate transaction data from internal systems and external payment network files. Execute transaction-level matching using key identifiers including STAN, RRN, ARN, transaction IDs, timestamps, and amounts to ensure accuracy.

Exception Management & Discrepancy Resolution
Identify, investigate, and track operational exceptions like missing transactions, duplicate entries, network timeouts, and Store and Forward (SAF) cases. Post reconciliation variance entries into designated suspense and settlement GL accounts for timely investigation and resolution. Maintain detailed exception tracking logs and coordinate with relevant stakeholders to ensure prompt resolution within defined SLA timelines.

Net Settlement & GL Posting
Prepare daily and cycle-wise net settlement summaries for 1Link, SBP Raast, and Visa, ensuring exact payable and receivable balances with zero variance. Prepare settlement GL entries and treasury transfer vouchers, mapping product-level GLs to treasury settlement GLs in line with internal financial controls. Coordinate prefunding requirements with Treasury and Finance teams to facilitate smooth network settlement execution. Submit all settlement calculations, GL vouchers, and summaries for managerial review under maker-checker governance controls.

Regulatory Reporting & Audit Preparedness
Prepare and submit all required SBP regulatory and settlement reports accurately within prescribed deadlines. Ensure that reported figures reconcile with internal GL records, settlement summaries, and network reports. Archive working files, settlement evidence, and reconciliation logs in designated repositories to comply with internal and external audit requirements.

Stakeholder Coordination
Collaborate closely with internal Technology and Finance teams for data validation, system issue resolution, and operational improvements. Liaise with external payment network partners such as 1Link, SBP Raast, and Visa for transaction verification and settlement-related queries.

Required Qualifications

Education:
Bachelor’s degree in Finance, Accounting, Banking, or a related field.

Experience:
2 to 5 years of experience in payment operations, reconciliation, or settlement within banking or fintech sectors.

Technical Knowledge & Skills:
Hands-on experience with digital payment networks including 1Link (IBFT/BPS/ATM), SBP Raast, Visa Scheme, PayPak, and SBP PRISM. Strong understanding of double-entry accounting, GL mapping, net settlement calculations, and maker-checker control frameworks. Advanced proficiency in Microsoft Excel or Google Sheets for data manipulation, transaction matching, and exception reporting.

Core Competencies:
Exceptional attention to detail and numerical accuracy. Analytical thinking and systematic problem-solving abilities. Strong ownership mindset with the ability to meet strict operational deadlines.

This role offers an opportunity to work in a dynamic environment where accuracy, compliance, and collaboration are paramount to the success of digital payment settlements.