Stanbic IBTC Bank Job for Reconciliation Officer, November 2014

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.

The Operations division of Standard Bank is at the very centre of all the bank’s procedures, enabling and optimising our Corporate and Investment Banking activities. We develop prototype concepts into robust, reliable solutions, constantly evolving our existing product range to help the bank maintain a competitive lead with our global clients. We are also in demand as internal consultants to the business, helping to manage the Bank’s assets through effective risk management and control systems. As part of this role we now seek an experienced Reconciliation professional, who will help guide our work to fulfill our ambitious growth strategy

Stanbic IBTC Bank is recruiting to fill the position of:

Job Title: Officer, Reconciliation

Job ID: 12730
Location: Nigeria

Job Purpose

    To support the Team Leader, deliver prompt reconciliation of all accounts under review and ensure there are no long outstanding items that can lead to financial loss for the bank.

Required Skills and Qualifications

Qualifications

    University Degree
    At least two years general audit and banking experience
    Professional certification in Accounting (ACA, ACCA) – preferred

Experience

    Minimum of two years general audit and banking experience
    Building and maintaining relationships

Required Competencies
Technical competencies

    Computer proficiency in Microsoft Word and Excel
    Risk identification and assessment skills
    A general knowledge of the bank’s accounting practices

Personal Competencies:

    Integrity
    Good communication skills-written and verbal
    Attention to details
    Must be a team player
    Analytical Skills
    Organizational Skills
    Interpersonal Skills

Key Responsibilities

    Daily Review of GL balances, Nostro and CBN Accounts among others
    Accurate matching of entries using Clirec
    Review and reconciliation of Suspense/Transit/Proxy Accounts.
    Initiates process of investigation into unusual occurrence in the Branches/Head Office suspense, Nostros and CBN accounts.
    Prompt rendition of month end reports on Suspense accounts exceptions
    Prompt rendition of monthly / Quarterly EFASS reports on Nostro accounts
    Ensure proper filing, storage and retreival for Nostro accounts;
    Work along with other reconciliation functions within various departments under Country Operations.
    Ensure cleanliness and Integrity of all Internal/GL accounts in the branches/Head Office entities under coverage through the review of their proof of accounts
    Maintain a culture within the Bank that emphasizes and demonstrates to all the importance of reconciliation and its corresponding effect on service excellence
    Ensure accurate reconciliation of all accounts.
    Follow up with Branches / Head Office entities on end of month suspense accounts proofs
    Follow up on all unmatched and outstanding items by generating written queries to the applicable unit / SOL

Cost Management:

    Develops and implements initiatives to reduce cost and ensures that budgets for the Recons Unit are met.
    Develop initiatives to improve operational efficiency and achieve reduction in operational costs.

Resource Utilisation:

    N/A.

Performance:

    Identifies and defines operational performance metrics geared towards meeting country objectives by analysing the existing gaps.
    Work closely with Team members to ensure that best practices and a standard approach is followed.
    Provides accurate and timeous MIS as per the matrix agreed with Centre (ROA Operations) to enable informed decision making.

Control:

    Identifies and assesses the risks facing both systems and business processes thereby providing effective loss and risk management and so minimising the operational risks.
    Liaises with POR management in ensuring that regulatory, group policy standards and minimum operating procedures are observed to minimise the Bank’s exposure to risk.

People Management: N/A

Self Development:

    Identifies appropriate formal and occupational (informal) training needs and courses (internal/external) to develop oneself.
    Up-Skills self regarding new processes and procedures through attendance of workshops/presentations and reading of internal and external communications.

Key Performance Measure:

    Achievement of strategic goals (Unit / individual goals)
    Quality of risks mitigation interventions
    Good communication skills with colleagues resulting in good customer service.
    Good internal and external communication skills with all stakeholders resulting in exceptional customer service being delivered to both internal and external customers.
    Compliance and improvement on turn- around times (TAT) on delivery of reconciliation reports
    Number of ageing items on Suspense and Nostro accounts.
    Number of complaints / mismatched items
    Improved customer service and satisfaction levels as per customer survey results
    Reduction of costs and increased throughput

How to Apply

Click here to apply online

Deadline 18th November, 2014


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