Manager, Settlement Finance & Controls

Manager, Settlement Finance & Controls

Reporting to: Head of Finance

Scope: Acquiring, issuing and wallet settlement flows

Role Overview

Own the financial control framework for payment settlement across the group. The role will establish how transactions, settlement reports, bank movements and accounting records connect; ensure differences are identified and resolved; and oversee the ongoing operation of settlement reconciliations and controls.

This is a hands-on role requiring someone who can design a process, work through complex payment flows with Operations and Technology, and lead its daily execution.

Key Responsibilities

Settlement Framework and Accounting

• Map the end-to-end movement of funds for each payment product, including receipts, prefunding, merchant payouts, wallet balances, fees, reserves, refunds and chargebacks.
• Define the accounting entries, ledger accounts, source reports and reconciliation points for each flow, in collaboration with Finance.
• Establish clear definitions for transaction date, settlement date, bank receipt date and payout date, including the treatment of timing differences.
• Document procedures, ownership, approval steps and evidence requirements.

Reconciliation and controls

• Establish and oversee daily reconciliations between transaction systems, scheme and processor reports, settlement ledgers, bank statements and the general ledger.
• Maintain an exception register with clear owners, ageing, escalation thresholds and resolution evidence.
• Ensure settlement liabilities, receivables, prefunding balances and bank clearing accounts are supported and reconciled at month-end.
• Review the completeness and accuracy of settlement files, payouts, bank transfers and related accounting information.
• Design and monitor maker-checker controls, access rights and approval limits for movement of funds.

Liquidity and bank flows

• Produce a daily view of expected inflows, required payouts, available balances and funding gaps by bank and product.
• Plan transfers between accounts and banks around settlement cut-offs and processing delays.
• Identify where fund flows or account structures create avoidable liquidity pressure, reconciliation difficulty or control risk.

Governance and improvement

• Lead the settlement control team and coordinate issue resolution with Operations, Technology, Product, banks and payment partners.
• Investigate recurring differences and incidents, identify root causes, and drive permanent fixes.
• Define management reporting on settlement completion, unreconciled items, delayed payouts, funding gaps and losses.
• Support audits, new product launches and changes to bank or partner settlement arrangements.

What success looks like

Within the first 90 days, the role holder should produce an agreed map of material fund flows, an accounting and reconciliation matrix, a daily exception process, and a prioritised plan to close control gaps. Thereafter, the role holder is accountable for operating and improving those controls, reducing aged differences, and ensuring settlement balances can be explained and supported.

Requirements

• Bachelor's Degree in Finance, Accounting, Business, Banking or a related field. Professional accounting qualification would be an added advantage.
• Minimum 5–8 years of relevant experience in finance, settlement, reconciliation, payment operations, treasury or financial controls, preferably within the payments, fintech, banking or financial services industry.
• Strong understanding of payment settlement flows, including acquiring, issuing, wallet transactions, merchant payouts, refunds, chargebacks, prefunding and reserves.
• Hands-on experience in designing and managing reconciliation processes across transaction systems, settlement reports, bank statements and the general ledger.
• Strong knowledge of accounting principles, ledger entries, balance sheet reconciliations and month-end closing requirements.
• Experience in managing settlement exceptions, ageing items, discrepancies and root-cause investigations.
• Good understanding of banking operations, liquidity management, cash movement, settlement cut-off times and funding requirements.
• Strong knowledge of financial controls, including maker-checker controls, approval limits, access controls and segregation of duties.
• Strong analytical and problem-solving skills, with the ability to work through complex transaction and fund flows.
• Strong attention to detail, particularly when reviewing settlement files, financial data, reconciliations and supporting documentation.
• Experience in developing SOPs, control frameworks, reconciliation matrices and management reporting.
• Strong stakeholder management and communication skills, with the ability to work closely with Finance, Operations, Technology, Product, banks and payment partners.
• Experience leading or supervising a finance, settlement, reconciliation or control team.
• Able to manage multiple priorities, investigate time-sensitive settlement issues and drive issues through to resolution.
• Strong sense of ownership, accountability and follow-through.
• Able to work independently and take a hands-on approach to establishing and improving settlement processes and controls.