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Settlements Officer

3 weeks ago

Sydney, New South Wales, Australia OFX Full time
This is a Settlements Officer role with OFX based in Sydney, NSW, AU
== OFX ==

Role Seniority - mid level

More about the Settlements Officer role at OFX

Job Description

Hi. We're OFX, a leading financial operations company providing businesses and accounting firms with real-time financial control and visibility to do business anywhere in the world. With an innovative platform and 24/7 human support, OFX automates and simplifies doing business across borders, reducing risk and eliminating routine operational tasks. Offering global business accounts, payments to 180 countries in 30+ currencies and currency risk management solutions to simplify global payments. OFX further enhances business operations by providing corporate cards with spend management, bill payments, vendor management, and integrations with popular accounting and HRIS software, to help achieve better business solutions so accounting firms and businesses thrive.

Headquartered in Sydney, Australia, with offices globally, in the United States, Canada, United Kingdom, Ireland, New Zealand, Singapore and Hong Kong. OFX has been a trusted innovator in global money movement for over 25 years.

Purpose of your Role

Reporting to an Operations Team lead within Payment Operations, the Settlements Officer will be responsible for various tasks spanning the Payment Ops group including but not limited to, incoming and outgoing payment reconciliation, outward payment batch processing, Investigation/Trace/Recall of customer funds in accordance with company policies, and commercial and consumer team requirements.  Daily calculation of funding requirements to ensure sufficient balance in Accounts to meet daily payment obligations.

This position is accountable for contributing to effective Operations & Settlements procedures and processes that balance OFX's operational, financial, and reputational risk associated with its incoming receipts, outgoing payments and global payment methods.  The Settlements Officer supports 'direct to client' focused practices that position OFX for scalable, profitable business growth.

This role is also responsible for the day-to-day enquiries from internal service and dealing teams in relation to operational issues, which include the receipt and settlement of customer transactions, investigation of payment instructions, status of payments and location of funds.

What you do

  • Performing daily incoming payments reconciliations

  • Perform outgoing payment processing operations and payment exceptions

  • Serve as contact for internal and external stakeholders, while responding to and escalating issues appropriately

  • Perform unallocated funds procedure and processes

  • Analyze and drive to completion open items as they relate to payments and investigation activities

  • Customer and bank liaison as needed for investigation of payment instructions or location of funds

  • Continually review back-office operations for continuous process improvement and automation; support strategic initiatives including definition of process, controls and associated system requirements

  • Ensure policies and procedures are followed to mitigate risk and fraud

  • Liaise with financial institutions and assist in payment resolution

  • Communicate efficiently with Global Treasury and Cash Management teams to ensure incoming receipts from and outgoing payments to customers are accurately managed and forecasted in cash balances.

  • Align with the corporate strategy and priorities; actively participate in the development of the department's procedures and processes and continuous improvement

  • Ensure all documentation is updated and accessible, service levels are maintained, and adhere to all established procedures and controls

  • Understand the competencies required for successful job performance and utilize this knowledge to coach and develop team members as well as to identify training needs

  • Energize and inspire colleagues – generating excitement, a sense of pride, and a drive to excel

  • Build and maintain relationships at all levels both within and outside the organization

  • Identify ways to improve productivity and efficiency, while also utilizing relevant internal technology to efficiently manage Operations needs and deliverables

  • Work together with the other colleagues in the Operations department globally to create a cross-functional, collaborative, high-performing team

  • Monitoring of internal and customer email mailboxes and responding in a timely manner

  • Assist with ad-hoc projects and IT change requests

Qualifications

  • 3 year minimum experience in a financial services based work environment;

  • An understanding of foreign exchange markets, foreign exchange terms

  • Ability to multi-task, prioritise and manage deadlines

  • Strong reconciliation knowledge and experience

  • Strong attention to detail, high work rate and low error count

  • Intermediate level skills with Microsoft Excel and Word

  • Enthusiastic, motivated and proactive approach to work

  • Personable, approachable, positive and relationship building abilities

  • Excellent communication skills, with a strong client focus.

  • An understanding of Swift messaging e.g.  MT103, MT199, MT940 advantageous

  • Good Team player.

Additional Information

What it's like working at OFX

We're OFXers because we want to make a difference. We see challenges as opportunities and we're not afraid to roll up our sleeves to get stuff done. We're committed to making things easier for our clients, pushing boundaries and continuing to move with the times so that we can continue to inspire confidence every day and through every transaction.

We operate as one team, cross-functionally and globally, to drive outcomes that deliver excellence for our customers. We're curious self-starters who love learning and sharing our knowledge with others. We embrace change and use our initiative and resilience to overcome challenges.

  • Always keep learning. We offer a wide range of learning and career development opportunities to help every OFXer build their capacity and career, with leadership training, secondments, internal mobility and access to a large library of online learning.

  • Make a difference. Through our Make a Difference program, we encourage OFXers to give back to causes and communities that are important to them. We celebrate this with an annual volunteer day, which OFXers can use together or individually, as well as matched giving and the opportunity to nominate charity of choice every quarter.

  • Reward and recognition. We recognise a job well done. OFXers are encouraged to celebrate their peers' effort, technical expertise or support through a range of global and regional channels and awards, including quarterly and annual awards, milestones and shout outs.

  • Showing our social side. Our Good Vibes employee-led committees around the globe organize events to help keep our employees engaged inside and outside the office. Whether it's a wellbeing activity, end of year celebration, or a monthly team get-together, our team wants you to feel welcome

  • Benefits that mean something. We offer a range of fantastic benefits, including health insurance, primary and secondary gender neutral carer parental leave (16 weeks) or birthday leave, you'll feel well-supported at OFX.

  • A great work environment. Enjoy work-life balance and flexibility with our hybrid work model, in an inclusive, diverse and non-hierarchal culture.

At OFX, we are committed to fostering a diverse, inclusive and accessible workplace where we value, respect, and encourage our people to be their authentic selves. With an employee base as diverse as the clients we serve, we know that fostering an inclusive workplace is fundamental to our continued success. If you require accommodation for any portion of the recruitment and hiring process, please email us at people.culture@ofx.com. We encourage you to apply if this role aligns with your career aspirations.

Before we jump into the responsibilities of the role. No matter what you come in knowing, you'll be learning new things all the time and the OFX team will be there to support your growth.

Please consider applying even if you don't meet 100% of what's outlined

Key Responsibilities
  • Performing daily incoming payments reconciliations
  • Processing outgoing payments
  • Liaising with stakeholders
Key Strengths
  • Financial services experience
  • Reconciliation knowledge
  • Communication skills
  • Foreign exchange knowledge
  • Microsoft Excel proficiency
  • Team collaboration
Why OFX is partnering with Hatch on this role. Hatch exists to level the playing field for people as they discover a career that's right for them. So when you apply you have the chance to show more than just your resume.

A Final Note: This is a role with OFX not with Hatch.