Assistant Manager, Settlements - UAE National
Ref : HP905-341
Job description / Role
Employment : Full Time
Job Purpose :
Accountable for handling Settlement functions within Card Operations in Retail Operations through end-to-end ownership and ensuring that all operations handled by Off-shore Partners, including Settlement Interchange Entries from Visa, MasterCard, UAE CB, E-11, Merchant Set-up & Settlement, Quarterly Member reporting, Scheme Billing, Write-Offs, Expense Provisions, Card Maintenance related activities in the unit are carried with maximum efficiency & control and customer satisfaction is provided in accordance with agreed service standards and by managing costs / risks.
Principal Accountabilities :
Accountable for handling day to day operations in Settlements Unit involving BTs / COCs, general ledger entries, making required corrections for reconciliation differences identified by reconciliation team, Visa / MasterCard / Central Bank / E-11 Interchange settlement processing, reject -re-entry processing , Vendor pay-outs, provision entries, write-offs, reward entries, on-boarding of pre-paid cards, card maintenance, merchant settlement, cardholder re-payments, Auto-Debit Instructions, card closures, reconciliation & posting of card scheme billing, Merchant Set-up & Maintenance, generation of MIS, reporting of errors, archival of daily files & documents, updating Operations Risk Database, whilst ensuring that these activities are carried out by off-shore partners, courier agencies, third party service providers & on-shore team, with maximum efficiency, security and control in accordance with established procedures and agreed service standards
Accountable to monitor controls on card maintenance and settlement activities handled by off-shore team through EOD Report / sample validations on daily basis and review of GL reconciliations.
Accountable for review of procedures in coordination with Manager, Card Operations to ensure that Settlements Unit activities are always geared to deliver the requirements of the business especially when new products are launched or when new GL accounts are opened which significantly impact volumes.
Accountable to recommend vendor invoice payments on monthly basis after reviewing bills in accordance to the process.
Accountable for the end-to-end ownership of activities and ensure customer satisfaction is provided at all times.
Accountable to monitor vendor payments on monthly basis and channel feedback to Manager Card Operations on any delays.
Accountable for providing efficient and quality services to both internal and external customers that meet or exceed agreed service standards while responding to all enquiries on cardholder disputes received whether by phone or through written correspondence and channel feedback into process improvements.
Accountable to ensure that reconciliation and accounting of daily merchant / ATM settlement, daily Interchange Settlement received from Payment Schemes and that all fees, charges and other incomes earned on interchange transactions are properly debited / credited by respective Payment Schemes and are properly debited / credited to merchant / ATM suspense a / c / internal suspense & P&L a / cs.
Accountable to keep Manager, Card Operations advised of any material operational / process weaknesses and non-compliance with controls in the unit and incidents to be updated to Bank's ORM on all potential and confirmed fraud / risk cases.
Work closely with Manager, Card Operations during implementation of the card system enhancements / upgrades / compliance releases on settlements by developing Test Scripts, conducting User Acceptance Testing, and certification with Payment Schemes, if required.
Accountable as one of the joint custodians for Retail Operations chubbs to ensure that all custodial items are kept under safe custody.
Ensure that Settlement Unit activities conform to Bank's standard of quality, operational efficiency and controls and include effective internal controls to manage operational risks and stand the test of audit.
Work closely with Client Engagement function and ensure effective complaint management & handle customer complaints and enquiries when escalated and channel feedback into process improvements.
Work closely with Sales, Business & IT functions to ensure that all operational support are addressed whenever a new product or new product features are launched in the market.
Work closely with Manager, Card Operations to ensure that Settlement Unit function is always geared to deliver the requirements of the business
Accountable for maintaining a perfect match of all processes followed in Settlement function with SOPs at all times.
Accountable to act as a back-up of operational functions within Retail Operations, during leave period of the primary Unit Head
Education and Qualification :
University degree or equivalent qualification
At least 3 years of experience in managing Settlement Operations with a thorough knowledge of Payment Scheme (Visa, MasterCard, UAE CB & E-11) regulations on Interchange Settlement processing, Scheme Billing ,Quarterly Member Reporting & Merchant Acquiring Operations.
About the Company
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today.
An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai.
We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations.
The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management.
The proof of which lies with our customers who have stood by us over the years.