Osama Shafaat

• Overseeing retail side settlement operations of Swich – JazzCash.
• Performing reconciliation of Swich and JazzCash including fund movements and financial postings.
• Managing daily aging reports of retailers.
• Reconciling retailer deposit receipts with banks.
• Ensuring financial accuracy in JazzCash top-ups.
• Oversaw daily bank reconciliations, ensuring accurate financial reporting and minimizing discrepancies.

• Managed daily 1-Link settlements, including ATM, IBFT, PayPak, and bill payments.
• Validated and posted Mastercard settlements (Issuer Side).
• Maintained and balanced settlement accounts for 1-Link, Mastercard and Raast settlements.
• Processed Raast settlements and adjusted account entries.
• Handled business account settlements for freelancers.
• Posting of adjusting entries of 1-Link and Mastercard and Raast settlement highlighted by Recon department.

• Processed 1-Link CUP settlements (Acquirer and Issuer).
• Managed settlement and reconciliation of FBL CUP QR Code transactions.
• Processed payments to exchange companies for global scheme dollar purchases.
• Settled insurance payments, reversals, and cancellations.
• Prepared daily and monthly settlement unit MIS reports.
• Reconciled ATM Issuer and Acquirer transactions.
• Reconciliation of ATM Issuer and Acquirer. - Reconciliation of branch ATM excess and shortage

• Monitored ATM cash overages and shortages across branches.
• Reconciled and financial posting of QR Code, E-Commerce and POS acquiring settlement transactions.
• Processed PayActive transactions and managed outstanding DIB Wallet transactions.
• Compiled daily and monthly MIS for ADC transactions.
• Adjusting the chargebacks raised by the customers into the settlement.

• Performing branch-wise reconciliation of GL.
• Reviewing all invoices for appropriate documentation and approval prior to payment.
• Charging expenses to accounts and cost centers by analyzing invoice/expense reports, recording entries
• Providing variance analysis report of administration expenses to higher management.
• Maintaining a log of Budget vs. Actual expenses.
• Disbursing petty cash from all branches and processing expense claims of staff.
• Processing salaries and commissions of salaried staff.
• Reconciling processed work by verifying entries and comparing system reports to balances.
• Reporting sales tax by calculating requirements on paid invoices.
• Receiving all payments and maintaining MIS and hitting the expenses in respective General Ledgers.

• Delivered audit reports containing practical, actionable and relevant recommendations consistent with current policies and operating practices.
• Assisted in the development of comprehensive audit plans, ensuring timely completion of all assigned tasks.
• Supported the senior auditor in managing multiple projects simultaneously, maintaining a high level of accuracy and attention to detail.
• Conducted thorough risk assessments for clients, identifying areas of potential fraud and recommending proactive solutions.
• Reviewed client documentation to ensure compliance with applicable laws, regulations, and accounting standards.
• Worked on the following clients for external and internal audit:

i) State Life Insurance Corporation Pakistan

ii) Independent Media Corporation Limited.

iii) Sind Cities Improvement Program.

iv) Sigma Leasing Corporation Limited.

v) Security Leasing Corporation Limited.

vi) Standard Chartered Leasing Corporation