Payments and Settlements Analyst Job Description [Updated for 2025]

In the age of digital financial transactions, the role of Payments and Settlements Analysts has taken center stage.

As financial systems advance, the demand for individuals who can proficiently navigate, enhance, and secure our financial infrastructure increases.

But what exactly is expected from a Payments and Settlements Analyst?

Whether you are:

• A job seeker attempting to understand the core of this role,
• A hiring manager outlining the perfect candidate,
• Or simply captivated by the intricacies of financial transactions and settlements,

You’ve come to the right place.

Today, we present a tailor-made Payments and Settlements Analyst job description template, designed for easy uploading on job boards or career portals.

Let’s dive right in.

Payments and Settlements Analyst Duties and Responsibilities

Payments and Settlements Analysts are responsible for processing, verifying, and maintaining payment transactions and settlements.

They are also tasked with monitoring transaction flows, identifying discrepancies, and troubleshooting any issues related to payment processes.

Their duties and responsibilities include:

• Processing and verifying financial transactions in accordance with established procedures and policies
• Reconciling and settling all payment transactions accurately and timely
• Investigating and resolving payment and settlement discrepancies and issues
• Coordinating with various teams and departments to ensure efficient and effective transaction processing
• Monitoring and tracking transaction flows to detect any potential risks or issues
• Preparing regular reports on payment activities and settlement operations
• Adhering to all relevant regulations and standards related to payments and settlements
• Providing support in the development and implementation of new payment systems and processes
• Performing regular audits to ensure payment integrity and compliance with policies
• Assisting in the training and development of junior staff members in the payment and settlement process

 

Payments and Settlements Analyst Job Description Template

Job Brief

We are seeking a meticulous Payments and Settlements Analyst to manage, analyze, and process our payment transactions.

Your responsibilities will include coordinating with internal and external stakeholders, ensuring swift and accurate payment processing, identifying discrepancies, and maintaining robust financial records.

Our ideal candidate has a strong background in financial analysis, excellent numerical skills, and a deep understanding of payment systems and operations.

Ultimately, the role of the Payments and Settlements Analyst is to ensure the smooth and efficient functioning of our payment systems, contributing to our financial stability and success.

 

Responsibilities

• Manage and process payment and settlement operations, including funds transfer and reconciliation
• Conduct detailed analysis of payment trends and discrepancies
• Ensure compliance with regulatory standards and company policies
• Collaborate with cross-functional teams to streamline payment operations
• Develop and maintain robust financial records
• Address any issues or queries related to payment transactions
• Monitor payment systems to ensure their performance and reliability
• Create and present financial reports to senior management
• Stay updated with latest industry trends and advancements in payment systems

 

Qualifications

• Proven experience as a Payments and Settlements Analyst or similar role in financial sector
• Strong knowledge of payment systems, operations and regulations
• Excellent numerical skills and attention to detail
• Proficiency in financial software and databases
• Ability to analyze and interpret financial data
• Strong problem-solving and decision-making skills
• Excellent communication and interpersonal skills
• Bachelor’s degree in Finance, Accounting or related field

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Payments and Settlements Analyst
• Work Environment: Office setting with occasional remote work. Some travel may be required for team meetings or client consultations.
• Reporting Structure: Reports to the Payments and Settlements Manager.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $65,000 minimum to $105,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Payments and Settlements Analyst Do?

Payments and Settlements Analysts typically work within the financial industry in banks, credit card companies, or financial services firms.

Their primary role is to manage and process transactions, ensuring that all payments and settlements are executed accurately and on time.

This involves verifying transaction details, reconciling account discrepancies, and resolving any issues that may arise during the process.

In addition to this, they are responsible for monitoring and analyzing payment flows, identifying trends or irregularities that may indicate fraudulent activity.

They also work closely with other departments, such as customer service and compliance, to ensure that all transactions are conducted in accordance with regulatory requirements and company policies.

They may also be required to assist with audits, generate financial reports, and develop strategies to improve payment and settlement processes.

Payments and Settlements Analysts need to have a strong understanding of financial systems, along with excellent analytical and problem-solving skills.

They also need to be meticulous and detail-oriented, as accuracy is crucial in this role.

 

Payments and Settlements Analyst Qualifications and Skills

Payments and Settlements Analysts use a combination of financial acumen, analytical skills, and attention to detail in their role.

The required qualifications and skills for this position include:

• Strong understanding of financial systems, particularly as it relates to payment processing and settlements. This includes knowledge of different payment methods, currency exchange, and financial reconciliation.
• Superb analytical abilities to evaluate payment data, interpret it, and make accurate predictions or decisions based on the data. This includes spotting discrepancies and identifying trends.
• Excellent attention to detail to ensure all transactions are accurate, properly documented, and reconciled correctly. This also involves spotting and rectifying any irregularities or mistakes in financial data.
• Good communication skills to effectively interact with different departments, banking institutions, and payment processors. This includes explaining complex financial information in a clear, understandable manner.
• Problem-solving skills to identify and rectify any issues that may arise during the payments and settlements process. This includes resolving transaction errors, settlement discrepancies, and other operational issues.
• Knowledge of compliance and regulatory standards in the finance industry. This includes understanding anti-money laundering (AML) and know your customer (KYC) requirements.
• Proficient in the use of financial software and spreadsheets, as well as general computer literacy. This includes being comfortable with using various types of financial and payment processing software.

 

Payments and Settlements Analyst Experience Requirements

Entry-level candidates for a Payments and Settlements Analyst role are typically expected to have at least 1 to 2 years of experience in the finance, banking, or payments industry.

This experience can be gained through internships, part-time roles, or relevant coursework.

Candidates should have a fundamental understanding of financial systems, payment processing, and reconciliation procedures.

Experience with financial software or related IT systems is also beneficial.

Those with 3 to 5 years of experience often have a deeper understanding of payment and settlement processes, regulatory compliance, and risk management.

They may also have developed skills in data analysis and financial reporting.

Candidates with more than 5 years of experience are often considered for senior analyst roles.

They are expected to have extensive knowledge of payment systems and regulations, as well as experience in managing complex payment and settlement operations, and handling dispute resolution.

This level of experience may also suggest the ability to lead a team and handle strategic planning for payment operations.

In addition, any experience in project management, audit, or control functions within a financial institution can be beneficial for this role.

 

Payments and Settlements Analyst Education and Training Requirements

Payments and Settlements Analysts typically require a bachelor’s degree in finance, business administration, economics, or a related field.

This role demands a strong understanding of financial markets and payment systems, which can be acquired through relevant coursework or on-the-job training.

In some cases, a master’s degree in business administration (MBA) or finance can be beneficial, especially for those seeking to progress to more senior roles.

Professional certifications such as the Chartered Financial Analyst (CFA) or Certified Treasury Professional (CTP) are often highly valued in this field.

These certifications help analysts to stay updated with the latest trends in the payments and settlements sector and demonstrate a commitment to the profession.

Experience with financial software, particularly those related to payment processing and settlements, is often required.

Analysts should also have strong analytical, problem-solving, and communication skills.

In addition to formal education and certifications, on-the-job training is a significant aspect of this role, as it provides hands-on experience with specific payment systems and processes used by the employing organization.

 

Payments and Settlements Analyst Salary Expectations

The average salary for a Payments and Settlements Analyst is $58,500 (USD) per year.

However, the actual earnings can significantly fluctuate based on factors such as relevant work experience, industry type, company size, and geographical location.

 

Payments and Settlements Analyst Job Description FAQs

What skills does a Payments and Settlements Analyst need?

A Payments and Settlements Analyst should have solid analytical and problem-solving skills, along with a high level of accuracy and attention to detail.

They should be well versed in financial software and systems and have the ability to interpret and analyze data.

Good communication skills are also important as they need to liaise with different departments within an organization.

 

Do Payments and Settlements Analysts need a degree?

Most employers require Payments and Settlements Analysts to have a bachelor’s degree in finance, business administration, or a related field.

Some positions may require a master’s degree or additional financial certifications.

Experience in the field of payments or settlements can be a plus.

 

What should you look for in a Payments and Settlements Analyst resume?

On a Payments and Settlements Analyst resume, look for a degree in a relevant field along with experience in financial analysis or related work.

Proficiency in financial software, data analysis, and familiarity with payment systems should also be highlighted.

Certifications related to financial analysis or project management can also be a bonus.

 

What qualities make a good Payments and Settlements Analyst?

A good Payments and Settlements Analyst is detail-oriented, analytical, and has strong problem-solving skills.

They should be comfortable working with large amounts of data and be able to interpret and draw meaningful conclusions from it.

Good communication skills are also important as they will need to present their findings to management and collaborate with other departments.

 

Is it difficult to hire a Payments and Settlements Analyst?

As with many roles in the financial sector, finding the right Payments and Settlements Analyst can be challenging due to the high level of technical skills and specific experience required.

Offering competitive salaries, career development opportunities, and a positive work environment can help attract qualified candidates.

 

Conclusion

And there we have it.

Today, we’ve unpacked the true essence of being a Payments and Settlements Analyst.

Surprised?

It’s not just about crunching numbers.

It’s about orchestrating the financial symphony, one transaction at a time.

Armed with our comprehensive Payments and Settlements Analyst job description template and real-world examples, you’re poised for your next career move.

But, why halt your momentum?

Delve further with our job description generator. It’s your next stop for crafting precise job listings or honing your resume to flawlessness.

Remember:

Every transaction is a part of the grand financial scheme.

Let’s orchestrate that symphony. Together.

How to Become a Payments and Settlements Analyst (Complete Guide)

Stressful Beyond Words: Jobs That Challenge Every Fiber!

The Workforce Winners: Trending Jobs That Are Leading the Pack

Blissful Bizz: The Most Satisfying Careers to Dream About

The Paycheck Problem: Jobs Where You Might Struggle Financially