Settlement Accountant

Title: Settlement Accountant

Location: Austin, TX (hybrid)

Overview:

Our Client, a leader in payment solutions, is looking for an enthusiastic and energized Settlement Accountant to join their Finance team. This position is responsible for performing a variety of settlement reconciliations, data compilation and analytics, preparation and completion of balancing schedules, recording general ledger journal entries, providing operational support to internal and external clients and other various analyses of settlement data and reports. Reports to the Controller and/or Acct Manager.

Responsibilities:

• Settles high-volume financial transactions on a daily basis timely and accurately.
• Ensures proper functioning of data transfers between various system interfaces such as ERP system, external credit card processor, and settlement banks.
• Reconciles daily directed funds movements with actual results reported.
• Enters data into a system involving processing debit/credit transactions.
• Analyze chargebacks and follow up with merchant bank and credit card issuers as needed.
• Reconciles various clearing and settlement General Ledger accounts at month-end and provides standard or ad hoc requests for reports on clearing and settlement activity.
• Utilizes internal and external settlement systems and data to prepare and complete balancing schedules and cash and balance sheet account reconciliations.
• Utilizes settlement systems/data and bank-provided systems to prepare and record general ledger journal entries.
• Monitors and/or processes payments and payment files in conjunction with settlement procedures and policies.
• Analyzes and researches variances; provides logical/concise explanations for variances and/or fluctuations in a timely manner.
• Works with internal and/or external clients and service providers to resolve out-of-balance conditions, funds movement errors, and/or transaction processing inquiries.

Requirements:

• Bachelor’s degree in Accounting
• Knowledge of cash management, financial analysis, account reconciliation, and balancing processes.
• Knowledge of banking and transaction processing (i.e., ACH, wire, debit, and credit card processing) including concepts and principles – demonstrates industry and technical capability.
• Understands basic accounting concepts.
• Ability to analyze data, explain results, and demonstrates good business judgment.
• Proficient in the use of basic office equipment and tools as well as applications specific to settlement systems/processes.
• Proficient in the use of Microsoft Office, especially Excel, and familiarity with other accounting software packages (e.g. NetSuite)
• Attention to detail, accuracy; ability to maintain confidentiality – demonstrates risk awareness and compliance