I remember doing bookkeeping in secondary school, and one thing that has stuck since is working with balance sheets and knowing that for every debit, there must be a corresponding credit. That principle came up again recently in a conversation with a friend, and it made me realise just how much I wanted a deeper understanding of how settlements actually work in the corporate world.

That curiosity led me to Joy, a Settlement and Reconciliation Officer at Moniepoint.

Within minutes of speaking with her, I found myself immersed in a world where every naira must be accounted for, and no kobo is allowed to go missing. Joy walked me through how she keeps things balanced behind the scenes, ensuring that the money Moniepoint expects is the money that shows up.

The system may sound automated, but the real magic lies in the human brain behind it. Stay with me as I share a bit of my conversation with Joy and walk you through what a typical day looks like in her role.

What exactly is settlement and reconciliation?

Let’s break it down.

Settlement ensures that the money Moniepoint expects, based on transactions, transfers, or payments, actually lands where it should. “We have a script where we put in our expected settlements,” Joy explains. “If the money doesn’t match, if something’s missing, I start raising alarms immediately.”

Then comes reconciliation, which I call the forensic part of the job. “For every debit, where’s the credit?” Joy says with a spark in her voice. “If the credit is missing, it won’t be reconciled. And I’ll have to start investigating.”

This is where Joy thrives. She is usually chasing down why transactions didn’t post, which provider or internal team is causing the imbalance, or which pipeline is breaking the beautiful symmetry of a clean balance sheet.

A typical day in the life of Joy

Here’s a breakdown of how Joy would spend a typical day: 

8:00 AM: Clock in & load up 

As soon as Joy starts her day, she heads straight to IRIS, Moniepoint’s internal reconciliation platform.

“I get my bank statements and settlement reports for all the accounts I manage and load them into IRIS. This is the start of my settlement process for the day.”

This early morning task helps her confirm if Moniepoint has received the actual funds it was supposed to. Any mismatches become a red flag and the start of a much longer investigation.

9:00 AM: Revenue tracking and expectation mapping

Next up for her is revenue assurance. She runs scripts to check if the settlements received match Moniepoint’s expectations for that day.

“If I’m expecting ₦2 million and I see ₦500,000, I already know something’s wrong.”

This process is like having a gut-check powered by data. It’s also the first indication that something might require escalation.

10:00 AM: Reconciliation pipeline runs

At this stage, IRIS runs an automated reconciliation check, cross-referencing debits and credits.

“For every debit, where’s the credit? And for every credit, where’s the debit?”

If there’s a mismatch, IRIS flags it as an exception. These exceptions become Joy’s main work for the rest of the day, helping her understand why something doesn’t add up, and who or what is responsible.

11:30 AM: Deep-dive investigation

If Joy is the detective, our internal tools are her magnifying glasses.

“On one tool, I run scripts to check if transactions are posted in CBA. If they didn’t, I would find out why. If they did and we didn’t receive the credit, I would go after the provider. On the other hand, I use another tool to aid investigations of transactions using session IDs or Atlas references.”

This is the part of the day where things get technical and where Joy’s sharp eye for details really shines.

1:00 PM: Balance substantiation

For some reason, Joy says this is her favourite part of the day and her most satisfying ritual. 

“If the General Ledger says a certain amount, I must be able to explain every kobo with supporting entries. If not, something’s wrong. And until it matches, I don’t rest.”

She organises exceptions into different buckets. It could be by provider, by transaction type, or whether it’s an internal issue. Then she starts chasing down those explanations.

4:00 PM: Review and reset

Before signing off, Joy checks her dashboards for any new exceptions or escalations that need flagging.

“There are always new issues. So I review, explain, tag, and prep for tomorrow.”

Her final goal is always to ensure Moniepoint’s books are accurate and complete before the day ends.

How Joy stays focused 

You’d expect a person in charge of so much daily to have a strict routine like a Spotify playlist designed for focus. But that’s not Joy. For her, she strives in silence. 

When I further probed, she explained that if she has music playing, there is a high chance that she would stand up and start dancing. However, she is a big fan of snacking while balancing her accounts, and her go-to snack is Pringles. 

Why her work matters to Moniepoint’s bigger picture

The top goal for her job is ensuring Moniepoint isn’t losing money. 

“If someone forgets to settle us, I follow up. If we get money we shouldn’t have, I ensure we return it. Integrity matters both ways,” she says.

Without her work and the broader settlement and reconciliation team, the whole business would be a castle built on sand. It’s one of those invisible roles that quietly powers the entire engine.

For anyone wanting to join the team

It was interesting for me to learn that Joy wasn’t an expert when she joined Moniepoint. In fact, she joined Moniepoint in 2022 as a graduate trainee who didn’t even understand the payment space then. But now, she’s a senior associate who’s powering the dreams of many.

When I asked her advice for anyone considering this path, she said, “Come ready to learn and put in your best. You don’t need to know it all. But, just be open, willing to grow, and never afraid to ask questions.”

I enjoyed speaking with Joy because I could see that it wasn’t just about the numbers for her. Joy is focused on integrity, accuracy, and ensuring that every single debit is met with the credit it deserves. 

Want to be part of the team that keeps the money moving and balanced? Explore career opportunities at Moniepoint today! Till I come your way next time, stay tuned to the blog to see where my curiosity leads me!