Job Title: Associate – Card Settlement & Merchant AcquiringDepartment: Cards & Payment OperationsLocation: REMOTEExperience Required: 6-8 years in Banking and 2–3 years in Merchant AcquiringEducation: Graduate (preferably in Finance, Commerce, or Banking-related discipline)Job Type: ContractJob SummaryWe are seeking a dynamic and detail-oriented Associate to join our Card Settlement & Merchant Acquiring team. The ideal candidate will have a strong understanding of banking operations, especially card settlement processes, and will play a key role in ensuring accurate and timely financial settlements with card networks like Visa, MasterCard, JCB, CUP, and Diners. The role requires working closely with product, finance, and compliance teams to maintain high operational standards, mitigate financial risks, and meet regulatory and business objectives.Key ResponsibilitiesHandle daily settlement operations to avoid financial losses to the bank, merchants, and cardholders.Maintain and enhance operational processes and financial controls to align with business goals.Collaborate with product and promotions teams to support business decisions while balancing risk and service.Monitor and implement compliance requirements from card schemes (Visa, MasterCard, JCB, CUP, Diners, etc.).Plan and deliver training programs on card settlement processes to enhance staff capabilities.Establish and maintain strong relationships with member banks and internal/external departments.Design and analyze settlement reports; propose process improvements and policy recommendations.Perform reconciliations of settlement accounts and monitor effectiveness through regular MIS.Address and resolve queries, complaints, and service requests within defined timelines.Ensure accurate financial postings and reject monitoring to prevent financial discrepancies.Uphold compliance with bank policies, internal controls, and regulatory standards.Mandatory SkillsIn-depth knowledge of card settlement strategies and financial accounting practices.Experience with card issuance and acquiring processes.Familiarity with compliance requirements of global and regional card schemes.Understanding of transaction codes (TC), P&L accounts, GL/Nostro account reconciliation, and provision booking.Experience with Prime Platform, Flexcube, or similar core banking systems.Strong knowledge of Visa & MasterCard settlement processes.Desired SkillsHands-on understanding of charges like VIBS & MCBS.Proficiency in MS Office tools and MIS/reporting.Excellent verbal and written communication skills.Strong analytical, interpersonal, and stakeholder management abilities.6–8 years of banking experience is a plus.
Job Title
Associate