Competency Details ( Settlement ) | Financial Academy

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Jadarat Dictionary

Settlement

Efficiency Technical Competency

Knowledge of settlement procedures, settlement transactions to fulfil financial obligations, customer accounts and the ability to reconcile account balances.

Jadarat Code: T50

Level 1

Demonstrates a basic understanding of the set procedures to follow for conducting a settlement process and when they are used depending on the nature of the various settlement transactions. Has basic knowledge of the key pieces of information required to reconcile account balances and is able to initiate the process.

Level 2

Possesses specialised knowledge of outlining the procedures of a settlement, and demonstrates an understanding of the most appropriate methods required for conducting a settlement process and the reconciliation of account balances.

Level 3

Utilizes the most appropriate method required for conducting settlement and account reconciliation, to settle transactions in compliance with the contract requirements and client instructions. Monitors the status of transactions' settlement and updates the relevant stakeholders on the progress through completion.

Level 4

Uses full knowledge to lead and provide expertise in monitoring and analysing the current procedures of transactions' settlement and account balances' reconciliation. Provides expertise to others on what recommendations will address challenges of complex transactions settlement, and makes necessary improvements to current settlement procedures.

Level 5

Applies subject matter expertise, in compliance with the applicable settlements' laws and regulations, to define the organization's transactions settlement strategy and guidelines. Exploits own expertise in transactions' settlement to monitor and ensure the effective execution of the settlement procedures.