What does a successful Settlement Operations Manager do at Fiserv?
Responsible for leadership of the Settlement & Transactions team. Responsible for the end-to-end settlement reconciliation, and funding process across the Fiserv Australian business ensuring accurate and timely processing in accordance with policies and procedures. Ensures the Company is compliant with regulatory requirements associated with the Company’s Exchange Settlement Account Cash and Clearing operations and Settlement accounts.
This position ensures all wire transfers (In and Out) are reconciled and maintains the Settlement bank accounts. The incumbent is a SME for resolution of internal and client issues. They are responsible for investigation and management of transaction related queries and disputes across all Fiserv portfolios.
This role assists in the management of Company’s Treasury activities including daily cash balances ensure smooth payment of vendors, payroll and tax; cash flow reporting and forecasting; client prefunding and collateral management; and banking administration.
What you will do:
- Overall responsibility for the end-to-end daily settlement and reconciliation activities for Fiserv Issuing and Acquiring business ensuring it is performed in accordance with SLA’s.
- Leads co-ordination and resolution of settlement and funding issues with both internal and external stakeholders.
- Maintains strong relationships with First Data Network members, Fiserv acquiring partners and merchants to enable effective issues management.
- Provides guidance and support to offshore Banking Operations staff and offshore Settlement Operations team.
- Acts as third-level support and manage customer escalations in relation to settlement and rejects including necessary outbound calls to resolve merchant and client queries and escalations.
- Ensure First Data Network ESA, RITS and compliance and requirements are maintained.
- Actively participates in enhancing client and regulatory relationships. Supports the business with expansion efforts through creating solutions to operational challenges.
- Reviews system and process for improvement deficiencies and develops system specifications and enhancements to enhance controls.
- Liaises and reports suspicious merchant activity and losses to relevant internal and external parties in efforts to recoup loss. Handles merchant related law enforcement requests.
- Calculation and administration of collateral and prefunding requirements of Fiserv Network members.
- Assist with cash management including:
Daily cash position
Weekly cash forecast
Monthly cash forecast
Medium and long-term forecasts
- Performs administrative function across all banking systems.
- Works with Accounting and Reporting teams to ensure proper settlement and reconciliation of funds.
- Monitors bank account balances to ensure funding is in place to ensure the businesses’ payment obligations are be met in an efficient manner.
- Reviews and authorize online payments.
What you will need to have:
- Minimum 7+ years’ experience either in operations, settlements, or treasury leadership role.
- General understanding of financial markets, preferably with CS3 ATM/POS.
- Operational Management / Relationship Management.
- Understanding of Operational Risk Framework.
- Knowledge of Treasury Operations - including products, systems and compliance.
- Understanding of Accounting principles.
R-10350213