Settlement Analyst
Xendit provides payment infrastructure across Southeast Asia, with a focus on Indonesia, the Philippines and Malaysia. We process payments, power marketplaces, disburse payroll and loans, provide KYC solutions, prevent fraud, and help businesses grow exponentially. We serve our customers by providing a suite of world-class APIs, eCommerce platform integrations, and easy to use applications for individual entrepreneurs, SMEs, and enterprises alike.
Our main focus is building the most advanced payment rails for Southeast Asia, with a clear goal in mind — to make payments across and within SEA simple, secure and easy for everyone. We serve thousands of businesses ranging from SMEs to multinational enterprises, and process millions of transactions monthly. We’ve been growing rapidly since our inception in 2015, onboarding hundreds of new customers every month, and backed by global top-10 VCs. We’re proud to be featured on among the fastest growing companies by Y-Combinator.
About the Job
This position is for a 6-month duration contract term.
Finance Automation (FinAuto) is part of the Accounting organization focused on creating and maintaining scaleable systems, processes and controls for Finance, Accounting and Finance Operations (FinOps) teams. Our Settlement Analysts have a critical role within the organization to create new reconciliations, improve logic associated with existing reconciliations and research and investigate the unknown items resulting from reconciliations. Xendit’s Settlement Analysts’ identify and help stop money loss, missing accounting events and support our annual financial statement audit process through reconciliations and research. FinAuto partners closely with Accounting, FinOps and even our various product teams’ on a daily basis to make Xendit the top regional payment gateway in Southeast Asia.
Minimum Qualifications
- Minimum of 2 years experience in at least one of:
- Operational Accounting
- Financial analysis
- Budgeting
- Data analytics
- Consulting
- Bachelor's Degree in one of the following subject areas:
- Finance/Accounting
- Business
- Economics
- Computer Science/IT
- Attention to detail and background in analysis, deep dive investigations, or similar
- Ability to think and analyze independently
- Comfortable working with large datasets and numbers, basic Excel skills is a must and advanced Excel is preferred.
- Summarizes and communicates analytical results well to multiple stakeholders
Preferred Qualifications
- Knowledge or background in Finance and Accounting concepts
- Adept and has experience in writing SQL queries for use on data platforms
- Effectively manage multiple priorities while maintaining a high quality of work
- Efficiency mindset / process improvement leader, always looking to identify and change or eliminate processes which do not add value for your customers
Responsibilities
- Build out automated reconciliations using 3rd party software
- Take existing manual reconciliations in spreadsheets and convert them to automated reconciliations.
- Create reconciliations which never existed
- Various data sources are reconciled to each other including but not limited to:
- Bank to internal business system
- Bank to Accounting Subledger
- Bank to Accounting General Ledger (NetSuite)
- Bank to partner settlement reports
- Partner settlement reports to internal business system
- Accounting Subledger to internal business system
- Research reconciliation exceptions
- For those identified unreconciled items, investigate the root cause by following the transaction trail by understanding Xendit’s business model, business event flow and internal system flows
- Analyze and uncover root causes of unreconciled transactions
- Record and track incidents where root cause has been identified.
- Discuss with Accounting and auditors the impact to financial results where applicable
- Provide analysis to your customers including but not limited to Finance Automation and Accounting
- Summarize findings of unreconciled items based on product-channel responsibility area.
- Understand the accounting concepts for financial audits
- Coordinate with the Accounting team on how to handle unreconciled items
- Coordinate and establish processes with Recon Automation team to introduce scalable identification of unreconciled items in the future
- Plan and establish thresholds and limits in the reconciliation process to assist with prioritization of investigation
- Improve reconciliation logic
- Identify and consistently improve logic associated with timing differences
- Identify edge cases and improve associated logic to reconcile, identify and suggest improvements to upstream owners to address root cause issues for good
- Do whatever it takes to make Xendit succeed
