Company Description
Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing and acquiring processing.
Magnati provides government, merchant and institutional clients with an intelligent payments platform that monetises data, using next generation technology to deliver improved experiences and increased efficiency. The Magnati brand is charged with energy and potential and is set to transform payments into possibilities.
Headquartered in Abu Dhabi, Magnati’s expertise and relationships provide a platform for Magnati to attract international partners, while setting a new standard for innovation and delivery in the payments industry
Job Description
JOB PURPOSE:
To Provide support to a network of over 33K FAB merchants by handling merchant related issues concerning card acceptance, Settlement of transactions to the merchants and other joint venture related issues.
ACCOUNTABILITIES:
Generic Accountability
Policies, Systems, Processes & Procedures
Provide inputs and implement policies, systems and procedure for the assigned team so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.
Continuous Improvement
Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.
Reporting
Prepare sectional statements and reports timely and accurately to meet LFGB-LNBAD and department requirements, policies and quality standards.
Job Specific Accountabilities
Ensuring compliance to process, procedures, controls, policies and SLAs for both onshore and off shore functions.
Handle all Merchant queries regarding POS problems (connect fail, printing, receipt, settlement, clearing, initialization etc), non-receipt of payments and EPOST related service issues and to ensure prompt action and resolution.
Under take Process Improvement, Reduce Errors, Rework, cycle time and cost.
Any other Duties / responsibilities as &when assigned by Management to support Business Requirements.
Ensure to abide by the compliance programs that monitors obligations towards externals parties including and not limited to Regulatory/Card Schemes/PCI DSS rules & regulations.
Identify opportunity to automate current manual processes, consult with Manager and IT on feasibility and costs / benefit. Take ownership of the entire processes from start to end.
Ensure Monthly MIS, Business SLA and KPI’s are met
To check Controls & mitigates are in place all the time to avoid operational or financial loss
To provide enhanced Service & Support to internal and external customers
Ensure adherence to operating procedures, audit & compliance requirements with periodic review & update of process documentations
Adherence to timely activity completion with clear visibility on completed vs pending actions
Timely reporting of MIS & ensure exceptions, learnings and corrective actions are clearly documented
Create positive Customer experience - internal/external relationship management, timely response, process execution within TAT and accuracy of outputs.
Ensure service fulfilments are handled with execution of processes within TAT with quality & accuracy of outputs.
Timely email responses to channels with clear & complete communication on actions taken.
Minimize complaints & create a consistent & positive customer experience.
Timely follow up & resolution on system /process / service escalations
Extend full support /cooperation to business units & provide timely feedback on processes.
Review & maintain updated operating procedures & process documentation with accuracy.
Specific Accountability
Merchant Maintaince – Trade license, commission profile, non- Monetary updates and reporting requirements fulfilments
Merchant settlements – Manage the Merchants daily settlement related functions, hold and release payments when and as required based on Business Risk confirmation.
Ensure daily processing of Acquiring settlements to Merchants, verify with Acquirer EOD reports and ensure that settlement is processed successfully.
Share the monthly Dormant Merchant reports with the receivable outstanding with Business and support the receivables as per the business Directives.
Refunds and reversal Processing within agreed TAT with required level of Accuracy
Prepare Financial vouchers and Adjustment entries.
Validate / update Merchant Agreements , Trade licences in card Management system.
Perform Due diligence, world check and Merchant portfolio verification with legal / compliance team.
Hypothecation update and Turn over letter issuance
All other Miscellaneous service fulfilments related to Merchant Acquiring Operations
Ensure to abide by the compliance program that monitors obligations towards externals parties including and not limited to Regulatory / card Schemes / PCI DSS Rules & regulations
Ensure new E- Commerce Merchant Setup is done on time and within the bank policy and procedures
FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:
Functions within the framework and boundaries of Group policies as well as overall organisational and governance frameworks.
Authorised to take decisions as per the approved authorisation matrix.
Under the Guidance of Head of Operations.
FAB Card Center Policies & Procedures
Qualifications
Minimum Qualification
Bachelor’s degree or related discipline.
Good analytical, Problem Solving and Decision-Making skills.
Good Accounting Knowledge and in accounting and Multi-Tasking
Good communication and knowledge in Business Operating Model In UAE / GCC
Minimum Experience
3 years’ relevant experience in the banking sector with at least 1 years in similar positions of progressively increasing managerial responsibilities in the Cards Acquiring and Issuing function.
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