About Plutus Nearly 50% of banks do not upgrade old IT systems as soon as they should, and 43% of US banks still use COBOL, a programming language dating from 1959 .
and extra layers embedded on top of it are causing outage - UK FCA in its annual reportIn other words, banking systems are outdated and cannot be easily modernized.
Fintech have responded enthusiastically to address this problem and in India alone there are over 2,000 fintechs and neo banks currently.
Each of them is looking to provide value-added services through a tech-driven approach. However, in each case, the fintech or neo bank partners with a licensed bank for core services like savings or loan accounts which are delivered through the same legacy systems and hence are constrained themselves.
Enter Plutus.Plutus is a strategic partnership between Zeta and a top 3 Indian private sector bank with the mission to build a digital bank completely from scratch.
Plutus will serve the bank’s 25 mn+ consumers and drive growth to double the base to 50 Mn+ in the next 5 years. To achieve this, we’ve reimagined banking completely from the ground up.
Plutus uses Zeta’s Tachyon, a cloud-native, integrated modern core banking, processing and payments SaaS platform. Plutus is a digital led bank and payments offering initially targeted towards India’s gen X, Y, Z and millennial audiences.
With a customer-first philosophy, fortnightly releases and a modern intuitive mobile app, we are building an experience that will revolutionize banking in India.
Join us to re-define this age-old industry. About the team The Plutus core team is organized as a multi-functional lean team of A players from Product, Engineering, Marketing, Growth Hacking, Design and UX, supported by an exceptional Support and Operations team.
Job purpose : To manage the entire process of Settlement for customer transactions betweenvarious Associations (VISA / NPCI), Aggregators, and other partners.
Key Accountabilities :
Manage the settlement and reconciliation between various partners for customer transactions.
Manage a robust process for the identification of exceptions through reconciliations, and timely action for resolution.
Establish a scale-independent process, capable of handling large volumes seamlessly and accurately.
Manage a process for customer query and dispute resolution, within TAT and with accuracy.
Job duties and responsibilities :
Manage the end-to-end process flows of the Settlement Unit, including file
exchange, system hand-offs, preparation of the UAT / test cases, checking,
verification and transfer to production.
Ensure a tight reconciliation process, with timely identification of exceptions and resolution thereof.
Maintain a high degree of connectivity with key stakeholders with partners (Associations / payment aggregators) and ensure timely escalation and resolution of issues.
Ensure compliance with all regulatory injunctions.
Required experience :
Minimum of 3-5 years’ experience in a similar role with a large private sector or foreign Bank .
Knowledge on business requirements on Settlement and reconciliation processes, across VISA / MasterCard / NPCI covering cards, wallets, ATMs etc.
Minimum of 8-10 years’ experience in Banking, with experience on various areas like customer service, Operations and others.
Basic knowledge on RPA / Python and other productivity tools.
Extensive experience on SIT / UAT and Project deployment.
Required experience :
Minimum of graduation from a recognized University.
Post-graduation or professional degree required.
Core Competencies :
Project Support experience and stakeholder management.
Eye for detail, data accuracy and strong orientation on controls.
Good interpersonal and excellent communication skills.
Adaptive to new technologies, and an orientation towards digital technologies and innovation.
Good analytical skills, with an ability to spot trends and issues early and take course-corrective actions where required.
Ability to comprehend and understand and explain issues for with the requisite level of detail and clarity.
Ability to escalate in a timely manner for resolution of issues with financial impact.
Technical Competencies :
Process Management Skills
Retail Banking Operations
Digital Strategy adoption
Work Relationship :
Team Work and Management
Strong Control orientation