Officer-Payments and Settlements(NACH, AEPS and PG)

1. POSITION DESCRIPTION

JOB TITLE

Officer-Payments and Settlements

GRADE

DM-I

DEPARTMENT

Operations

LOCATION

HO

SUB-DEPARTMENT

Payments and Settlements (UPI, IMPS, NEFT, RTGS, RuPay and NFS)

TYPE OF POSITION

Full-time

REPORTS TO

Specialist-Payments and Settlements

REPORTING INTO

NA

1. ROLE PURPOSE & OBJECTIVE

• Process payment transactions initiated through NEFT, RTGS, UPI, AEPS, IMPS, NACH, DBT, NFS, RuPay and Payment Gateway and ensures timely settlements of each transaction.

• Performs daily reconciliation of payments transactions with zero variance and timely completion of EOD

• Coordinates with IT, Channels and Vendors for smooth processing of the transactions

• Publishes various daily, weekly and Monthly MISs to the respective business units

• Responsible for timely processing of files and submitting responses as per sessions defined by NPCI.

• Ensuring the ‘Checker’ activities properly for all the transactions he is responsible.

• Day end entry posting to RBI account as per the settlement amount received from NPCI.

1. SIZE OF THE ROLE

FINANCIAL SIZE

NON-FINANCIAL SIZE

• Processing and reconciliation of all Digital transactions (Above 7 crore transactions in a month with value of 28,000 crores)

• Validating of settlement funds received from NPCI/RBI/Vendor for all digital products.

• Processing of online repayments and reversal of timed out transactions (Value around 650 crores)

• Collection of charges for applicable transactions.

• Handling customer disputes for failed transaction.

• Record maintenance of digital transactions

• Processing of Inward NACH mandate registered from sponsor bank

• Presenting of outward NACH mandates to destination bank

• Updation of new IFSC in CBS, IB and MB

• MIS reporting to business stakeholders

1. KEY DUTIES & RESPONSIBILITIES OF THE ROLE

Business/ Financials

• Processing of Inward and Outward NEFT, RTGS, UPI, AEPS, IMPS, NACH, NFS, RuPay transactions

• Monitoring of Office and internal GL accounts and clear of pending entries within SLA

• Processing of NACH and DBT files received from NPCI.

• Presenting of NACH outward files to other banks for repayment recovery

• Processing of NACH mandates received from others

• Presenting outward NACH mandates for registration

• Prepare and publish MIS to business stakeholders.

Customer (Both Internal & External)

• Resolving queries received from internal stakeholders pertaining to reconciliation

• Liaising with internal team vendor and financial institution to resolve payments issues and discrepancy.

• Providing recon files as when required to internal stakeholders

• Resolution of Branch queries and Complaints received through email

• Raising a request to other banks, NPCI, Vendor for query resolution

• Supporting branches and other units for resolving other queries related to digital payment transactions

Internal Process

• Reconciliation of all Payments transactions.

• Action on Failed or Deemed transaction within TAT.

• Accounting of settlements received from NPCI and RBI for Payments transactions

• Validating & posting of customer credit (RPA Output files, Vendor output & Internal reconciliation)

• Preparation of daily vouchers for financial transactions.

• Sending an SMS and Dispatching of letters to the customers as an when required.

• Identifying opportunities to streamline processes, improve efficiency and reduce operational cost.

• Using Payment processing system, financial software and other tools effectively.

• Assist the supervisor in implementation of ad-hoc duties and assignments.

Innovation & Learning

• Timely completion of assigned modules in HRsaathi / Self learning module

• Learning about circulars issued by regulators pertaining to Payment’s products

• Certification courses on Banking, Payment systems and Digital banking

• Learning about new processes within the same unit every quarter

1. MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational

Qualifications

• UG – Any Graduation; preferably in finance/commerce subjects

Experience (Years and Core Experience Type)

• Minimum 2-4 years of Experience

Certifications

• Banking Exams

Functional Skills

• Payment’s product reconciliation process

• Systematic, meticulous and timely customer service

• Sensitive to Customer Wait Time

• Mandatory operating knowledge of computers

• Relevant software skills

Behavioral Skills

• Good interpersonal skills

• Customer service orientation

• Listening and communication skills

• Good at time managements

• Good Team building and team development

Competencies

• Strong numerical skills

• Multitasking ability

• Vendor management

• Proficiency in MS excel

• Good analytical skills

1. KEY INTERACTIONS

INTERNAL

EXTERNAL

• Business Team

• Branches

• SQ and Phone Banking

• Other internal team in Operations

• VENDORS

• NPCI

• Other Banks

PREPARED BY: Operations Team

DATE: 20-07-2024

REVIEWED BY: Ayan Sakar

DATE: 20-07-2024

LAST UPDATED BY: TM Team

DATE: 24-07-2024