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Settlement Specialist III - Hybrid
- Job Type
- 1 Aug 2022
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The Settlement Specialist III is responsible for all aspects of accounts receivable, accounts payable and settlement reconciliation for a broad and complex base of partner accounts. The Settlement Specialist III is expected to be a subject matter expert of MGI products and processes related to the settlement and remittance activities of Settlement Operations. The position is typically responsible for high profile partners and accounts with complex remittance methods or schedules. This position also provides support to settlement specialists with daily settlement and reconciliation duties, provides settlement specialist trainings, supports and drives change initiated by management, and participates in and may lead department projects.
Reconciles all AR activity which includes agent settlement for transactions, commissions and rebates and unique remittances:
identifies and resolves discrepancies within established remit schedules
reports and escalates issues appropriately and timely
manages large domestic chain, check cashier or independent accounts
manages Int l Retail and Core agent accounts
manages accounts with an emphasis on unique/complex remittance, settlement or reconciliation requirements.
Monitors reporting and resolution of activity to minimize financial losses /exposure:
manages agent advances/prefunds and specialized remittance schedules ensuring contractual compliance
disposition AR activity within defined parameters.
Assists in the ongoing enforcement of internal controls and in the ongoing effectiveness of controls.
Provides Agent Account Servicing with exceptions requiring customer interaction for resolution. These include:
escalated aged items,
and general account funding/reconciliation issues.
Executes the movement of funds based on Agent Account servicing instruction/approval.
Processes check requests, wire requests and initiate ACH requests. Acts as resource to other Settlement Specialists with complex reconciliation and settlement issues.
Coordinates and performs training of newly hired Settlement Specialists.
Performs special projects or other duties as assigned:
supports requests for information from internal management, internal and external auditors
assists with internal documentation, policies and procedures as requested
assists with the A/R accounting requirements and/or the UAT related to new products, and/or processing system changes with respect to existing products
serves as Lead for special projects.
BA/BS in accounting or related field or equivalent experience - preferred.
5+ years in accounting or related field.
Strong analytical and problem solving skills.
Resourceful researching skills with the ability to take ownership of issues and drive resolution.
Excellent organizational and time management skills including the ability to multi-task with an attention to detail.
Ability to communicate clearly and concisely while utilizing active listening skills with a culturally diverse agent base.
Ability to handle stress or conflict during conversations with agents/internal customers with poise and resilience.
Bi-Lingual and foreign currency experience, favorable.
Ability to innovate and improve work processes.
Ability to train, motivate, and lead individuals.
Ability to oversee the completion of special projects or company initiatives.
Primary Location: United States of America-Minnesota-St Louis Park
Work Locations: US_Corp_St Louis Park_1550 Utica 1550 Utica Ave S Ste. 100 Saint Louis Park 55416
Job Posting: May 18, 2022, 11:52:36 AM
- Job Reference: 674002800-2
- Date Posted: 1 August 2022
- Recruiter: Moneygram
- Location: Minnesota
- Salary: On Application
- Sector: Accounting
- Job Type: Permanent