Description

payabl. empowers businesses to grow through payments innovation and banking services. Our ambition is to expand our strong portfolio of global financial services we provide to businesses and make them all available in one place on our platform we call payabl.one. As a licensed financial company with principal membership with card schemes, we specialize in global payments and providing businesses with multi-currency accounts.

Role

The role is about: We are looking for a Settlement Officer to ensure merchant payouts, incoming settlements, bank balances, and related fees are processed accurately and on time. The role involves reconciling settlement data, investigating discrepancies, supporting safeguarding and liquidity activities, and collaborating with internal teams to resolve issues and improve settlement processes.

Location

Location: Hybrid Cyprus

Reporting To

Reporting to: Settlements Lead

What you will do

Coordinate safeguarding transfers and ensure adequate liquidity in safeguarding accounts
Ensuring timely execution of outgoing merchant payouts and inbound settlement receipts
Monitoring and reconciling settlement files and bank accounts
Identifying, analysing, and resolving fee discrepancies, including processing FX margin, chargeback, penalty fees and other categories
Implement and maintain strong internal controls over settlement processes
Supporting internal and external audit requests related to settlements and fee calculations
Stay updated with industry regulations and compliance requirements related to settlement operations, ensuring all activities adhere to regulatory requirements and internal policies
Collaborate closely with client support teams to provide expertise and guidance on settlement-related matters
Oversee settlement automation tools and reconciliation systems. Work with IT and product teams to improve back-office tools and enhance settlement workflows
Liaising with Finance regarding fee validation, accruals, and revenue reconciliation
Working closely with Risk and Fraud teams on chargebacks, representments, refunds, reserve movements and payment instructions
Supporting implementation of new payment methods, processors, and settlement flows
Ensure fee schedule and other client information in the back-office system are accurate and maintained correctly
Any other ad-hoc activities as requested by the Settlements Lead and the Group Head of Treasury

What You’ll Bring

Previous experience in settlements, treasury, payment operations, reconciliation, finance, or a related role.
Strong numerical and analytical skills with excellent attention to detail.
Advanced Excel skills, including formulas, pivot tables, and lookups.
Good understanding of settlement processes, merchant payouts, bank reconciliations, and payment-related fees.
Ability to investigate discrepancies, solve problems, and maintain accurate records.
Proactive, organised, and able to work independently under pressure in a fast-paced environment.
Strong team player with good communication and stakeholder management skills.
Experience within payments, fintech, banking, or financial services would be an advantage.
Knowledge of safeguarding, internal controls, audit requirements, or settlement systems would be beneficial.

Perks

Perks of being a payabl.er include Provident Fund after probation, annual learning budget, monthly meal allowance, sports benefits membership, potential company car after one year, complimentary parking, 25 days vacation plus 10 sick days, local discounts and event tickets, free Greek language classes, and global company events.

Hiring Process

Initial Interview (30–40 minutes) with Talent Acquisition, including a short screening exercise. In-Depth Discussion with the Settlement Lead, one-hour online interview. Meet Our Leadership with the Group Head of Treasury for final discussion on team and cultural fit.

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Settlement Officer