Settlement Analyst

About Fincra

We believe that Africa is the new frontier of financial opportunity. Our mission is to build the API infrastructure to connect all of Africa to the rest of the world. 

Fincra is a cross-border payment infrastructure for financial institutions, fintechs and global businesses to make and receive payments across Africa and the rest of the world. Our platform and APIs help our customers; make payouts to bank accounts and mobile money wallets, instantly settle FX payments at the cheapest exchange rates, receive payments, operate multi-currency wallets.

We are a Techstars '20 alumni building a team of rockstars, builders, and people who are obsessed about making a difference with the quality of their work. Our people are our greatest assets and competitive advantage and we treat them with this understanding.

Role overview

We are looking for a Settlement & Reconciliation Analyst. The Mission of the role is to define, operate and monitor the critical backend processes that allow Fincra to deliver an industry-leading payments experience to all our customers. You would be responsible for managing the daily reconciliation and settlement of all transactions processed by Fincra.

The role is fully remote, while this pandemic lasts. However, we will be resuming back at our office in Lagos (Lekki) where we work 2 days onsite and 3 days remote a week.

We always and strongly encourage candidates from all backgrounds and identities to apply. With each new hire, we look to diversify, strengthen our team, and be more purposeful about building our culture. We create an environment where you can grow and be happy doing it.
You’ll be reporting directly to the Finance Manager.

About The Job

You’ll be responsible for designing and executing operational processes around how we settle payouts to merchants. We require you to manage daily reconciliation of settlements, and escalations to banking partners, liquidity providers, payment processors and more for any risk-related issues.

We expect you to be able to function effectively, creating playbooks where it previously didn’t exist to help build a solid foundation upon which we can power the cross-border payment infrastructure for financial institutions, fintechs and businesses making and receiving payments across Africa and globally.

What You’ll Be Expected To Do At Fincra

  • Ensure daily reconciliation of all transactions and provide daily/weekly reconciliation and settlement reports.

  • Ensure the business is not exposed to any material risks emanating from reconciliation variances.

  • Develop models that assist in the reconciliation process to speed up reconciliation and provide accuracy.

  • Things can only scale by automation. We expect you to be very data-driven and coming up with ways we can automate as much of the processes involved in ensuring our financial health.

  • Liaise with partners such as exchanges, liquidity providers, bank partners, payment processors etc that contribute to possible variances on fiat and crypto reconciliation.

  • Document processes, procedures, resolution guides etc. for the settlement team.

  • Contribute to financial reporting and balance sheet management.

  • Manage internal and external controls for payment processes, escalate and resolve payment issues while working with Product, Business and Engineering team.

  • Liaise with partners (banks and processors) to ensure optimal cost structures and verify daily settlements.

  • Perform daily and weekly revenue recognition and cost optimization exercises.

  • Work with Compliance to design and maintain a process for reporting fraudulent activity to the appropriate regulatory authorities.

  • Coordinate with internal teams to develop risk mitigation strategies for payment processing and merchant management.

What We Look For In You

  • Cultural and Value fit

  • 2 years of experience working in a similar role in banking, fintech or financial services industry

  • In-depth knowledge of bank reconciliation and settlement dynamics and processes

  • You have strong knowledge of internal controls and financial reporting

  • Excellent Data Analysis & Reporting skills- You have the ability to turn large data sets into meaningful insights

  • You have the appetite to jump headfirst into a fast-moving, fast-growing, mission-driven team that values creativity and output

  • Process-driven – You understand processes intuitively, are highly organised, and are constantly on the lookout to improve the way you work.

  • Collaborative – You seek first to understand and then to be understood. You communicate your actions and intentions clearly - verbally as well as in a written form.


  • A chance to be an early member of a high-growth startup

  • We pay competitively in the Nigerian market for the matched experience and role

  • Amazing work culture and a company that truly cares about creating the best and most fun place to work

  • We offer health insurance that includes dental, optical & covers major surgeries.

  • Interest-free staff loans upon confirmation

    Our Values

Our values inform our behaviour and the choices we make every day. They mean much more than just words to us (and we have the emojis to prove it).

Click on this link to learn more about our values

Our Culture

Our culture is a reflection of who we are and the organisation we’re trying to build. We’re very intentional about our culture and It's a large part of why Fincra is a great place to work.

Click on this link to read more about our culture

How To Apply

Please send an application tailored to the role that speaks to us. Your cover letter should explain how your skills and experiences make you uniquely qualified to excel in this role. We especially look at applications that stand out. We appreciate well-articulated writings, don’t be afraid to TL: DRWe would strive to get back to you to inform you if the position has been filled, after the application deadline. We will also let you know our reasons, on request.