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
Deadline 18th November, 2014
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