Bajaj Finserv Hiring for National Head at Pune, Maharashtra, India Full Time

Job Description

This position is open with Bajaj Finance ltd.” To play a pivotal role in setting up the Payments business for BFL, creating/enhancing processes to scale up the customer base & merchant base. Actively participate in building up grounds up BFL’s Payments offerings & Robust process for Issuance and Acquiring businesses. To design, manage and deploy processes around Issuance & Acquiring Operations viz. Issuance of Prepaid Instruments, FastTags, Merchant Onboarding, Reconciliations, Transaction processing w.r.t Merchant Payables/Receivables to offer a best-in-class experience to BFL merchants & customers. Overview of Payments Business: Over the next 3-5 years, we aspire to be amongst the top 5 Payment Companies in India with a presence in over 3000 cities targeting a GMV of 2 lakh crore a year. Our aim is to build effective, safe, reliable, accessible and efficient payment technology with an infinitely scalable cloud native payment system that will help us meet our aspirations. We aim to start with leveraging our extensive 100,000+ merchant base and expand to 10 lakhs+ merchants. The business would run as a company within company with a distinct SBU structure within BFL and have full sponsorship from our experienced leaders. BFL today has an employee strength of 27000+. A key aspect which is one of the primary focus areas for us is to engage with customers in a manner where we become their key choice for any payment needs.

Job Duties & Key Responsibilities

* Duties and Responsibilities – 1. Planning & Strategy  Create & Execute an AOP for the roadmap/ plan for specific initiatives within the payments vertical for Issuance & Acquiring processes for Operations and Service  Scan the market to identify and onboard partners/start-ups offering latest technologies for Merchant Acquiring & Issuance  Work with Acquiring Partners & Issuance Partners (like Banks Co-Brands etc.) to ensure Business Objectives are met within Cost and Timelines  Plan & execute a strategy for Best in Class Customer Service Delivery for BFL Customer’s who are issued Prepaid Instruments (Wallet Cards Gift Cards etc.) UPI Handles & EMI Cards or Credit Line  Be the subject matter expert for operational knowledge relating Card/Wallet Issuing & Acquiring launching products across the India  Provide hands-on support to internal stakeholders like Product Business Development Project Management and Compliance to ensure a smooth launch of payments programs to BFL customers  Work with Banks VISA and Mastercard Implementation team to ensure that necessary approvals are obtained  Constantly engage with card schemes to help negotiate Issuance and Acquiring commercials  Working with technology teams to drive payment processing performance improvement  Defining & managing metrics for assessing Operational performance viz. accuracy timeliness and compliance 2. Merchant Management viz. Merchant Operations Merchant Service and EDC/POS Mgmt  Implementation of company level initiatives for Dealers /Merchant Onboarding ensuring Compliance guidelines laid by RBI from time to time. In doing so ensuring correct documentation and contract mgmt. (viz. validity of contracts of the merchants for an Error Free process of Merchant Mgmt.  Merchant Underwriting basis the Risk and FRM guidelines  Work with Merchants (Online and Offline Merchants) to ensure effective onboarding & smooth operations viz. reconciliations settlements & ensure timely payment to them basis contract obligations viz. T+1 T+2.  Create & Operate a Merchant Service Framework for answering queries pertaining to Onboarding Settlements Installation Deinstallation Payments & Other queries  Work with Service Delivery partner to ensure MSAT (M-Satisfaction) score are at satisfactory level. Ensure that Queries are resolved and answered within stipulated TAT basis the query type  Work with EDC/POS/QR Service Providers for Design Delivery & Deployment of the acquiring instruments  Ensure Installation and Deinstallation are done within stipulated TAT  Ensure Inventory Mgmt. Tracking of In-Repairs POS machines & approving the Cost of repairs basis inputs by vendors  Monitoring EDC/POS/QR Logistics and supporting vendors in case of challenges in several states like Karnataka WB Punjab & J&K.  Ensure Chargebacks are well defended and responded within stipulated TATs to Issuers/Schemes/Aggregators
* Duties and Responsibilities – 3. Transactions & Recon management  Ensure timely and correct reconciliation of transaction done thru EDC/POS/Wallets/QR with Schemes like VISA/MC/Rupay etc.  Ensure timely posting of Outgoing files to Schemes VISA/MC/RuPay by stipulated time on a daily/periodic basis  Ensure 3-way and 4-way recon between BFL CMS Schemes (VISA/Rupay/MC) Bank Merchant/Acquirers & Merchants/Issuers  Track and reconcile any issues with the merchant; monitor the transactions journey and identify gaps.  Work with IT to address all system gap & issues. Identify workarounds/ solutions to drive greater efficiency.  Track metrics of how each merchant is performing. Identify issues as well as opportunities for driving higher performance  Loan recon for Wallet transactions and exceptions management  Nodal & Escrow Accounts Recon 4. Payments & Claim processing  Author MP/MR files processed and sent by Service Provider (Transactions Processor) & Process NEFT/RTGS/IMPS Payments to Merchants  Stage claims files to Schemes viz. VISA/MC/Amex/Rupay  Work with Treasury for funding the Nodal a/c accounts  Ensure Monitor and Process all merchant/aggregator payments. Ensure that merchant payments go through in a timely and efficient manner. Help Resolve merchant issues.  Coordinate with Merchant Service to address any merchant queries and escalations drive resolution.  Ensure that NOCs are received from merchants in a timely manner 5. Dispute Mgmt Risk Mgmt & FRM • Work in Risk team and setup review process of Merchant to identify potential risky merchant based on transactions & profile • Work with Service Provider to process FRM Inputs for Chargeback and Disputes mgmt. • Provide directional & operational support chargeback/dispute and compliance support for L2 Escalated/Arbitration cases • Manage day to day chargeback processes timely resolution of cases initiation of appropriate reason code for successful chargeback representing cases of merchants with appropriate supporting documents follow up with merchants for documentation and successfully defending the merchants from chargeback thru pro-active alerts and effective training. • Design chargeback reports and analyses setting forth progress adverse trends and appropriate recommendations or conclusions; develop recommend and implement policies and procedures related to internal and external financial reporting monitoring and analysis merchant training etc. • Examine accounting systems and operations to ensure assigned activities are carried out in accordance with established policies and objectives; identify and implement revisions in accounting procedures or systems to increase efficiency of workflow to reduce time and cost of accounting functions to augment issuance and acquiring businesses  Develop processes and controls to reconcile chargeback accounts recoveries charges and publishing of monthly reports on the effectiveness of chargeback process.

Required Qualifications and Experience

* SKILLS AND KNOWLEDGE (Minimum acceptable proficiency for this job which best indicates the education and/or experience requirements of this job and not the incumbent) Educational Qualifications a) Qualifications  Minimum Qualification: Graduate, MBA preferred b) Work Experience  Minimum 10 years of experience  Prior experience in Merchant Acquisition operations, Merchant Payments & Servicing, EDC/POS Management, Credit/Debit Card Operations and Payments processing and Reconciliations. Dispute Mgmt. and FRM Mgmt.