Reconciliation & Settlement Officer

The Reconciliation & Settlement Officer plays a critical role in managing daily transaction matching, net position calculations, settlement General Ledger postings, and regulatory reporting for digital payment channels. This position ensures complete financial accuracy, zero variance in net settlement positions, and full compliance with the State Bank of Pakistan’s regulatory requirements. The officer works closely with internal teams and external payment networks to maintain seamless settlement processes and timely resolution of discrepancies.

Key Responsibilities

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

Exception Management & Discrepancy Resolution:
Identify and investigate operational exceptions like missing transactions, duplicates, network timeouts, and Store and Forward (SAF) cases. Record reconciliation variances in suspense and settlement General Ledgers for further investigation and clearance. Maintain detailed exception logs and coordinate with relevant stakeholders to resolve issues within defined service level agreements (SLAs).

Net Settlement & GL Posting:
Prepare daily and cycle-wise net settlement summaries for payment channels, ensuring exact payable and receivable balances with zero variance. Generate settlement General Ledger entries and treasury transfer vouchers, mapping product-level GLs to treasury settlement GLs in line with internal financial controls. Collaborate with Treasury and Finance teams to manage prefunding requirements and ensure smooth settlement execution. Submit all settlement calculations and documentation for managerial review under maker-checker controls.

Regulatory Reporting & Audit Preparedness:
Accurately prepare and submit required regulatory and settlement reports to the State Bank of Pakistan within prescribed deadlines. Ensure all reported figures reconcile with internal GL records, settlement summaries, and network reports. Archive working files, settlement evidence, and reconciliation logs in designated repositories to support internal and external audit compliance.

Stakeholder Coordination:
Work 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 inquiries.

Required Qualifications

Education & Experience:
Bachelor’s degree in Finance, Accounting, Banking, or a related discipline. A minimum of 2 to 5 years’ experience in payment operations, reconciliation, or settlement within banking or fintech environments.

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

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

This role offers the opportunity to work at the intersection of finance and technology within a dynamic payments ecosystem, ensuring regulatory compliance and operational excellence.