About the company:
At BID Operations, we are passionate about supporting our clients in their journey towards success. Our mission is to empower you to thrive by handling the essential yet time-consuming aspects of your business operations, allowing you to concentrate on strategic growth and innovation.
About the role:
We are seeking a proactive and detail-oriented Client Settlements Reconciliation Specialist to join our team. This role will play a critical part in ensuring the efficient execution of daily settlement activities, accurate reconciliation of accounts, and maintenance of financial records. The ideal candidate will be responsible for supporting payment processing with third-party providers, responding to customer cases, and preparing transaction remittances.
Key Responsibilities:
- Prepare daily settlement reports, including funds in / funds out, client equity and payment service providers (PSP) balance reports, and distribute them accurately and on time.
- Perform day-end balance checks across all PSPs, and reconcile daily movements to PSP statements and the general ledger.
- Perform monthly PSP balance reconciliation; investigate, document and follow up on breaks and unreconciled items until cleared.
- Support client money calculations and ensure client funds are properly tracked and segregated from company funds.
- Record and maintain settlement-related entries in the accounting system (Xero).
- Liaise with Finance, Payments, Compliance and PSP contacts to resolve discrepancies and settlement issues.
- Maintain reconciliation workpapers and SOPs, and propose improvements to automate and strengthen reporting and controls.
- Support internal/external audit and regulatory requests related to client money.
Requirements
- Bachelor’s degree in Accounting, Finance, or a related field.
- At least 2 years of relevant experience in financial services, preferably within brokerage, fintech, payments, fund administration, or a similar environment.
- Have understanding of client money and client fund accounting, including fund segregation, client equity, and fund movements.
- Hands-on experience performing daily and monthly balance reconciliations, investigating daily movements, and resolving reconciliation discrepancies.
- Strong proficiency in Microsoft Excel, including lookup functions, pivot tables, and reconciliation workbooks, with the ability to handle large transaction datasets.
- Familiarity with accounting systems and general ledger (GL) principles; experience using Xero would be an added advantage.
- Strong attention to detail and a high standard of accuracy, with the ability to meet strict daily deadlines.
- Good written and verbal communication skills in English; Mandarin proficiency would be an added advantage.
- Experience in payment service provider (PSP) or payment gateway settlement and reconciliation is preferred.
- Familiarity with CRM systems or reporting and automation tools such as Power BI, SQL, or Python would be an added advantage.
- Knowledge of client money regulatory requirements, such as those established by ASIC, the FCA, or similar regulatory bodies, is preferred.
Benefits
- Opportunities for enriching career growth, including exposure to regional contexts.
- Healthcare coverage (medical, dental, optical), gym benefits.
- Flexibility in smart casual dress code.
- Young, vibrant and open work culture.
Skills Required
- Bachelor’s degree in Accounting, Finance, or a related field
- At least 2 years of relevant experience in financial services or a similar environment
- Understanding of client money and client fund accounting, including segregation, client equity, and fund movements
- Experience performing daily and monthly balance reconciliations and resolving discrepancies
- Strong Microsoft Excel proficiency, including lookup functions, pivot tables, and reconciliation workbooks
- Familiarity with accounting systems and general ledger principles
- Strong attention to detail and ability to meet strict daily deadlines
- Good written and verbal communication skills in English
- Mandarin proficiency
- Experience with payment service provider or payment gateway settlement and reconciliation
- Experience using Xero
- Familiarity with CRM systems or Power BI, SQL, or Python
- Knowledge of client money regulatory requirements, such as ASIC or FCA requirements
What We Do
BID Operations provides comprehensive technology, customer services, accounting & operations, and risk & compliance services to support client business growth. Their mission is to empower clients by handling essential business operations, allowing them to focus on strategic growth and innovation through expert-driven technology and streamlined solutions.
