Cards Settlement and Reconciliation Officer

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Job SummaryCards Settlement & Reconciliation officer’s job consists of:

To ensure accurate, timely reconciliation and settlement of card transactions (debit/credit/prepaid) across payment networks, acquirers, issuers, and internal systems. The role safeguards financial integrity, minimizes revenue leakage, and supports regulatory and scheme compliance.

1. Reconcile daily card transaction files from card schemes (e.g., Visa, Mastercard), acquirers, issuers, processors, and internal systems

2. Identify, investigate, and resolve mismatches such as missing transactions, duplicate postings, or incorrect amounts

3. Reconcile suspense, clearing, settlement, and chargeback-related accounts

4. Ensure accurate posting of fees, interchange, and scheme charges

5. Monitor card clearing and settlement cycles to ensure timely funding and payouts

6. Validate settlement reports and ensure amounts received/paid match expected positions

7. Coordinate with banks, processors, and card networks on settlement issues

8. Support funding forecasts and liquidity planning related to card settlements

9. Investigate settlement breaks and aged unreconciled items

10. Support chargeback and representment processes from a financial reconciliation perspective

11. Track and resolve write-offs, recoveries, and adjustments

12. Prepare daily, weekly, and monthly reconciliation and settlement reports

13. Maintain reconciliation documentation and audit trails

14. Support internal and external audits by providing evidence and explanations

15. Ensure adherence to internal controls, SLAs, and regulatory requirements

16. Identify root causes of recurring reconciliation issues

17. Recommend and implement process improvements or automation

18. Assist in UAT/testing for new card products, systems, or scheme changes

19. Report any irregularity arising in the section promptly, in line with the Absa procedures and ensure that they are resolved in a way to minimize financial loss and protect the good name and reputation of Absa;

20. Adhere to the day to day running of the section according to Absa standards, requirements and procedures.

Job Description

Operations

Attend to end to end process of card operations( which includes and is not limited to card account processing and servicing activities, handling of Issuing and Acquiring chargeback for both debit & credit cards, E2E reconciliation of card scheme settlements

Support in Automation of existing manual activities

Apply operational rigour and comply with operational risk and standards at all times

Support in achievement of set team targets

Attend to queries from branches

Plan, organize & complete tasks and activities aligned with performance objectives

Consistently updated on processes and procedures

Embrace change and contribute to the overall success of the tribe.

Support retail related operational activities assigned by Line Managers

Teamwork

Ability to work in a team

Support colleagues where required with a view to impact on overall performance

Conduct filing activities where required

Upskilling & share knowledge with other peers

Customer Obsession

Think customer in all interactions

Focus on customer experience

Build trust with the customers through quick decisioning & disbursement

Complaint -Escalation & resolution

Risk management

Follow the Risk procedures & policies of the Bank

Conduct RACI testing for the department

Embed new guidelines

Comply to Regulatory policies

Coach team on policies

MI & Analytics

Perform MI duties

Project Management

Follow the Risk procedures & policies of the Bank(inclusive of ATM procedure manual, branch and cash operations guidelines and End to end cash management manual)

Support and work on some key projects within the Consumer operations space

Mandatory Risk and Control objective

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal ABSA Policies and Policy Standards.

Understand and manage risks and risk events (incidents) relevant to the role.

Technical skills / Competencies

Competencies:

Strong understanding of card payment lifecycles (authorization, clearing, settlement)

Experience with card schemes, processors, and settlement models

Reconciliation of high-volume transaction data

Solid accounting knowledge (GL, suspense accounts, accruals)

Proficiency in Excel and reconciliation tools (pivot tables, VLOOKUP/XLOOKUP, macros preferred)

Risk management

Be self-directed

High attention to detail and accuracy

Strong analytical and problem-solving skills

Ability to work under tight settlement deadlines

Clear communication with internal and external stakeholders

Good documentation and follow-through

Knowledge, Expertise and Experience

Essential

Business understanding of Banking operations, card products, customer service

Building Positive Working Relationships, Coaching, Communication, Contributing to Team Success, Customer Focus, Planning & Organising, Work Standards

Experience & Qualifications

Preferred

Bachelor’s degree in Finance, Accounting, Business, or related field

2–5 years’ experience in card operations, payments reconciliation, or settlement

Experience in a bank, fintech, payment processor, or card-issuing/acquiring environment preferred

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)

R-15983763