Job Description
The Settlement Specialist is responsible for reconciling accounts, process adjustments, charge-backs, assists with monthly invoicing, as well as track financial trends and forecasting.
Position is located in New York
Recent Accounting graduates are encouraged to apply. MINIMUM QUALIFICATIONS
- Experience in Accounting, billing, reconciliation
- Strong MS Excel sills
- Ability to work extended hours as business needs dictate.
PREFERRED QUALIFICATIONS
- Accounting degree.
- Banking experience.
- Preferred Excel experience: Pivot Tables and V look-ups.
- EFT, audit and reviewing legal agreements.
- Highly motivated, self-starter.
- Ability to work with confidential materials and employee information and maintain confidentiality at all times.
ESSENTIAL FUNCTIONS
- 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 & Chargebacks:
Processes adjustments & charge-backs 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/chargeback related issues. Completes monthly adjustment billing spreadsheet per department procedure. Maintains records, filings and supporting documents. Maintains and documents adjustment/chargeback 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.
- Prepares contract buyouts.
- Maintains contract expiration spreadsheet.
- Proofs and audits monthly invoicing.
- Maintains and documents billing procedures.