Officer-Payments and settlements

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.

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 Payments products
• Certification courses on Banking, Payment systems and Digital banking
• Learning about new processes within the same unit every quarter