Head of Financial Settlements at Paycorp Holdings

About the job

• The Head of Financial Settlements will lead and manage the financial settlement operations across multiple regions, ensuring accuracy, compliance, and efficiency in financial transactions with merchants, payment service providers, and financial institutions. This role is crucial in overseeing settlement processes, optimizing reconciliation workflows, implementing financial technologies, and mitigating risks associated with payment processing. The ideal candidate will have extensive experience in fintech, payments, or banking, with a strong background in financial controls, compliance, and team leadership.

The responsibilities of the position include:

• Oversee financial settlements and reconciliation with merchants, payment service providers, and financial institutions across multiple regions 
• Ensure timely and accurate reconciliation of transactions and fees related to end to end transaction processing
• Monitor cash flow related to settlements, ensuring optimal liquidity management and forecasting
• Develop and refine settlement processes to enhance efficiency and minimize operational risks
• Constant control, monitoring and evaluation of processes, SLAs and deliverables
• Analysis and monitoring of KPIs; identifying business/operational risks and opportunities and build mitigation plans
• Ensure adherence to local and international financial regulations as well as compliance with card network rules (Visa, Mastercard, etc.)
• Lead audits related to financial settlements and reconciliation and collaborate with internal and external auditors
• Identify and mitigate financial risks associated with settlements, implementing necessary controls and corrective measures
• Drive automation and digital transformation initiatives within settlement processes to enhance accuracy and reduce manual effort
• Collaborate with IT and product teams to enhance payments and reconciliation systems, ensuring scalability and reliability
• Implement data analytics and reporting tools to improve financial transparency and decision-making
• Work closely with Finance, Risk, Compliance, and Accounting teams to align financial settlements with business objectives
• Manage relationships with financial partners and clients to optimize settlement agreements and service levels
• Act as the key point of contact for regulatory bodies and industry organizations regarding financial settlement matters
• Act as an enabler to business growth
• Lead and mentor a team of financial settlement professionals, ensuring continuous development and performance improvement
• Foster a culture of accountability, innovation, and collaboration within the settlement teams
• Develop and implement training programs to enhance technical skills and regulatory knowledge within the team.

In order to be considered for the position, the following requirements must be met:

• Completed qualification in Finance, Accounting, Economics, Business Administration, or a related field
• 5+ years’ experience in Managing financial settlements, reconciliation, or payment operations, preferably in fintech, payments, or banking
• Proven track record as a leader of a financial-oriented team with experience in managing cross-functional teams
• Strong understanding of payment processing, acquiring, and card scheme rules (Visa, Mastercard etc.)
• Knowledge of financial regulations, compliance requirements, and risk management in the payments industry
• Proficiency in financial systems and reconciliation tools
• Strong analytical skills, attention to detail, and problem-solving abilities
• Ability to thrive in a fast-paced, dynamic environment with a strong focus on execution and results

Behavioural Competencies:

• Planning & Organising
• Communication & Impact
• Customer Focus
• Problem-solving
• Initiating Action
• Leadership Disposition
• Coping with stress / change
• Building a Successful Team
• Coaching & Developing Others
• Financial Acumen
• Results Orientation
• Adaptability
• Engagement Readiness