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... 69 million transactions in 5 h is making 4000 per second; is neither too bad, nor really fast.
First step for me would be to have a look to the used ressources: is it CPU bound or I/O bound (let it run in unrestricted batch and have a look at the CPU usage, it could be easy calculated from the jobstart and job completion messages. As a rule of thumb rest of the time could be assumed as synchronous I/O.
Next step for me would be to have a look at free ressources during the run of the job. This could be easy done by having a look during the run of the job to % CPU usage and % disc busy, WRKSYSSTS would be sufficient for this.
If you have enough power available 5 parallel streams will finish the work in 1 h, that’s more than you would win by tweaking the code of your “loops”. Segmenting the data (easy done for SQL cursors) and synchronizing your parallel Jobs would be less work and could be part of a generalized solution.

D*B

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