Purpose of your Role
Reporting to an Operations Team lead within Payment Operations, the Settlements Officer will be responsible for various tasks spanning the Payment Ops group including but not limited to, incoming and outgoing payment reconciliation, outward payment batch processing, Investigation/Trace/Recall of customer funds in accordance with company policies, and commercial and consumer team requirements. Daily calculation of funding requirements to ensure sufficient balance in Accounts to meet daily payment obligations.
This position is accountable for contributing to effective Operations & Settlements procedures and processes that balance OFX’s operational, financial, and reputational risk associated with its incoming receipts, outgoing payments and global payment methods. The Settlements Officer supports ‘direct to client’ focused practices that position OFX for scalable, profitable business growth.
This role is also responsible for the day-to-day enquiries from internal service and dealing teams in relation to operational issues, which include the receipt and settlement of customer transactions, investigation of payment instructions, status of payments and location of funds.
What you do
- Performing daily incoming payments reconciliations
- Perform outgoing payment processing operations and payment exceptions
- Serve as contact for internal and external stakeholders, while responding to and escalating issues appropriately
- Perform unallocated funds procedure and processes
- Analyze and drive to completion open items as they relate to payments and investigation activities
- Customer and bank liaison as needed for investigation of payment instructions or location of funds
- Continually review back-office operations for continuous process improvement and automation; support strategic initiatives including definition of process, controls and associated system requirements
- Ensure policies and procedures are followed to mitigate risk and fraud
- Liaise with financial institutions and assist in payment resolution
- Communicate efficiently with Global Treasury and Cash Management teams to ensure incoming receipts from and outgoing payments to customers are accurately managed and forecasted in cash balances.
- Align with the corporate strategy and priorities; actively participate in the development of the department’s procedures and processes and continuous improvement
- Ensure all documentation is updated and accessible, service levels are maintained, and adhere to all established procedures and controls
- Understand the competencies required for successful job performance and utilize this knowledge to coach and develop team members as well as to identify training needs
- Energize and inspire colleagues – generating excitement, a sense of pride, and a drive to excel
- Build and maintain relationships at all levels both within and outside the organization
- Identify ways to improve productivity and efficiency, while also utilizing relevant internal technology to efficiently manage Operations needs and deliverables
- Work together with the other colleagues in the Operations department globally to create a cross-functional, collaborative, high-performing team
- Monitoring of internal and customer email mailboxes and responding in a timely manner
- Assist with ad-hoc projects and IT change requests
