Manager - Settlement Operations
3d ago

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extra layers embedded on top of it are causing outage - UK FCA in its annual reportIn other words, banking systems are outdated and cannot be easily modernized.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
  • Communication Skill
  • Work Relationship :

  • Team Work and Management
  • Stake-Holder Management
  • Customer experience
  • Strong Control orientation
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