Senior Coordinator, Settlement Operations

Full job description

Our Purpose

We work to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. We cultivate a

culture of inclusion

for all employees that respects their individual strengths, views, and experiences. We believe that our differences enable us to be a better team – one that makes better decisions, drives innovation and delivers better business results.

Title and Summary

Senior Coordinator, Settlement OperationsWho is Mastercard?
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential.
Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Overview

The Senior Coordinator, Settlement Operations supports the settlement process flow strategies by consistently innovating and problem-solving. The ideal candidate is passionate, highly motivated, intellectually curious, and possesses an analytical mindset. Should be capable to handle responsibilities relating to settlements and reconciliation end to end processes. Capable enough to coordinate settlement strategy/projects, standardize the settlement process and oversea and eliminate revenue leakages if any.

Role

Perform the balance confirmations / reconciliations / settlement process of various send/receive partners of Mastercard Cross border Services and ensure accuracy and output delivery as per agreed timelines.

Track various incentives and rebate settlements with Agents as per schedule, daily/ monthly adjustment postings review in Mastercard platform, etc.

Co-ordinate with Collections team for the investigation and resolution of differences in balances confirmed by partners vs what is captured in platform on an ongoing basis.

Keep the unreconciled entries in reconciliation at a minimum level/ under control by continuous follow ups/Escalations with internal/external stakeholders. Track and escalate the issues/queries, coordinating with BDM’s/agents/FIs to solve the reconciliation issues.

Reporting of urgent/important glitches with stakeholders (Technical/process specific). Analyzing current processes and see if there is any scope for process simplification.

Handle Knowledge Transfer sessions, monitor and upgrade the process knowledge of the various teams (in-house/off shored) to bridge the knowledge gaps if any.

Support in handling ad-hoc requirements from various stakeholders such as Agent balance reviews, audit queries, ad-hoc reports/ trackers etc.

All About You
 

• Prior relevant experience in Remittance / cross border business finance stream
• Good knowledge of accounting concepts and Foreign Exchange calculations involved in cross border remittance transactions.
• Any bachelor’s degree preferably in accounts/commerce/finance or equivalent.
• Computer proficiency with advanced knowledge of MS office applications
• Be a strong, confident, and exacting writer/speaker, able to communicate effectively.
• Always look forward for potential solutions to solve problems.

Corporate Security Responsibility

Every person working for, or on behalf of, Mastercard is responsible for information security. All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and therefore, it is expected that the successful candidate for this position must:

Abide by Mastercard’s security policies and practices;
Ensure the confidentiality and integrity of the information being accessed;
Report any suspected information security violation or breach, and
Complete all periodic mandatory security trainings in accordance with Mastercard’s guidelines.

Corporate Security Responsibility

All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and, therefore, it is expected that every person working for, or on behalf of, Mastercard is responsible for information security and must:

• Abide by Mastercard’s security policies and practices;

• Ensure the confidentiality and integrity of the information being accessed;

• Report any suspected information security violation or breach, and

• Complete all periodic mandatory security trainings in accordance with Mastercard’s guidelines.