Settlement Analyst

The Settlement Analyst supports the Settlement Manager in the cash management process. Ensuring adherence to the policies and procedures in the timely handling, processing and deposit of receipts or disbursements. Leading all day -to- day activities, reporting and monitoring of the department.

Major Responsibilities

• Lead the settlement processes across all locations, ensuring accuracy and adherence to established procedures.
• Ensure that all critical reports for the department to track performance metrics are submitted timely.
• Prepare the scheduling of Settlement officers in Distribution Centers (DCs) to optimize resource allocation.
• Participate and support the tracking and resolution of issues arising from the weekly WPM and LCM, ensuring resolutions are achieved in a timely basis.
• Ensure that all unsettled routes and cash module issues are logged timely with the share service provider and CBL’s I.T team for prompt resolution.
• Support the settlement month end closure process and support the Finance Department by ensuring cash modules are closed by WD1.
• Prepare the daily settlement health checks report for resolution and escalate where necessary.
• Oversee daily reporting activities to ensure adherence to internal controls and regulatory requirements. (Internal Controls, AML & WCPP Requirements)
• Support the Accounting & Tax team in resolving all discrepancies based on the GLOM deadline.
• Prepare the cash receivable schedule (CP00) by WD10 to the Accounting & Tax Manager and ensuring agreement of sub-ledger and general ledger.
• Approve all postings to the 98 account/101 account based on assigned approval limit and provide explanations to Accounting & Tax team for correct allocations.
• Ensure all shortages by the 3PL are approved and reviewed daily to ensure compliance based on the policy and procedures.
• Ensure the accuracy and processing of all lodgements daily and flag any discrepancies identified.
• Provide the daily settlement report by 10:30AM with no cash module pending settlement in excess of 24 hours.
• Review the cash receivable account (CP00) daily to ensure no aged items on customers account without proper explanation.
• Support the account receivable team with customer account queries or discrepancies identified and resolve in a timely basis.
• Collaborate with warehouse and the delivery team to ensure that all routes delivered are settled.
• Ensure all settlement reports are accurate and submitted daily and implement improvement measures where gaps are identified.
• Ensure all relevant entries relating to cash movements and other bank transactions are accurately entered into SAP on a timely basis.
• Ensure availability of point-of-sale (POS) machines in all DCs and escalate deficiencies to the Treasury Team.
• Ensure that all petty cash floats logs are updated daily and replenished in a timely manner.
• Ensure that all logs are updated daily/weekly such as POS log, truck vault key log, MC1 asset log and conduct physical audits across all locations upon DC visits. Escalate any discrepancies to the relevant department.
• Ensure that all documents are filed and stored based on CBL ‘s record and retention policy.
• Conduct continuous improvement training to eliminate gaps in the settlement process.

Academic qualifications and experience required for the job:

• Minimum 2 years’ experience in a similar role
• Experience in cash management, settlements, or treasury operations.
• Bachelor’s Degree in Accounting or ACCA Level 2
• Proficiency in Microsoft (Excel, Word)
• Thorough understanding of regulatory requirements and compliance standards in cash management
• Ability to communicate proficiently at all levels and maintain excellent customer relations