Job Opportunities in Kuwait
October 15, 2024
JM Financial Services Company
Kuwait City
FULL TIME & OTHER
Senior Payment Solution Associate
Purpose
Responsible for ensuring accurate, efficient, and compliant management of payment transactions across various Payment Service Providers (PSPs).
Responsibilities
Application Deadline: 15/11/2024
Responsible for ensuring accurate, efficient, and compliant management of payment transactions across various Payment Service Providers (PSPs).
Responsibilities
- Perform daily, weekly, and monthly reconciliations of transactions processed through various PSPs.
- Identify and resolve discrepancies between PSP reports and internal records.
- Collaborate with internal teams (finance, IT, customer service) and PSPs to manage chargebacks and resolve disputes.
- Monitor and report on transaction trends, anomalies, and exceptions, ensuring accuracy in transaction accounting.
- Calculate and analyze interchange fees for various payment methods (credit cards, debit cards, alternative payment methods).
- Provide insights into cost optimization strategies related to interchange fees.
- Stay updated with changes in interchange fee regulations and industry standards.
- Prepare monthly, quarterly, and annual financial reports related to PSP reconciliation and interchange fees.
- Support month-end and year-end closing processes, including journal entries and adjustments.
- Collaborate with the AMLRO (Anti-Money Laundering Reporting Officer) to ensure adherence to internal controls, company policies, and external regulatory requirements.
- Monitor risk exposure related to PSP activities and recommend mitigation strategies.
- Manage and track incoming and outgoing wire transfers to ensure timely and accurate processing.
- Maintain detailed records of all wire transfers, ensuring alignment with internal financial records.
- Manage the end-to-end process for disputed transactions, including chargebacks, retrieval requests, and fraud investigations.
- Collaborate with PSPs, banks, and internal departments to gather documentation and resolve disputes.
- Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
- Minimum of 3-5 years of experience in payment processing, PSP reconciliation, or a similar role.
- Strong knowledge of payment gateways, PSPs, and interchange fee structures.
- Advanced analytical and financial modeling skills.
- Experience with financial reporting, variance analysis, and transaction cost optimization.
- Proficiency in using financial systems and tools to ensure data accuracy and integrity.
- Excellent problem-solving abilities, with attention to detail.
- Strong communication and collaboration skills, with the ability to work across teams.
- Familiarity with regulatory requirements related to payments and compliance.
- Bilingual – English and Arabic
Application Deadline: 15/11/2024
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