Acquiring Operational Support

Role- Acquiring Operational Support

Term- 12 months

Location- Riyadh, KSA

Relevant experience- 10+ years of experience

Mandatory experience- Strong understanding of acquiring compliance, financial reconciliation, and scheme rules

Purpose of Job

The contractor will be responsible for ensuring regulatory and scheme compliance, reconciling billing and funding, identifying and resolving billing issues, and driving revenue and cost optimization initiatives. The role requires a strong understanding of acquiring compliance, financial reconciliation, and scheme rules, along with an analytical mindset to enhance operational efficiency and profitability

Tasks

Core Responsibilities And Accountabilities

Regulatory & Scheme Compliance

• Conduct regular reviews of scheme (Mastercard, etc.) and regulatory compliance requirements to ensure adherence.
• Identify and address any gaps in acquiring processes related to AML, KYC, PCI-DSS, and local regulatory guidelines.
• Monitor updates from regulatory bodies and card schemes, ensuring timely implementation of necessary changes.
• Prepare reports and recommendations on compliance risks and remediation actions.
• Coordinate with internal compliance, risk, and legal teams to ensure full alignment.
  
  
  

Billing & Funding Reconciliation

• Perform reconciliation between merchant billing, settlement funding, and interchange costs.
• Identify discrepancies in billing and settlement processes, ensuring accurate financial reporting.
• Optimize reconciliation procedures to reduce errors and enhance efficiency.
• Collaborate with finance and operations teams to resolve settlement and billing issues promptly
  
  
  

Billing Optimization & Compliance Assurance

• Identify root causes of billing issues and implement corrective measures.
• Enhance fee application accuracy to ensure correct charges for merchants.
• Develop automated tools or reports to track and rectify billing errors.
• Ensure compliance with merchant pricing structures and scheme fee pass-throughs.
• Work with IT and product teams to implement system enhancements for accurate billing.
  
  
  

Revenue & Cost Optimization

• Track and analyze revenue streams from merchant acquiring to identify growth opportunities.
• Identify cost-saving initiatives in scheme fees, interchange, and operational expenses.
• Work with finance and business teams to develop strategies for improving profitability.
• Monitor the impact of optimization initiatives and provide data-driven insights.