General
\nJob Title: Reconciliations Manager
\nDepartment: Finance
\nJob Grade: Manager
\nReports to: Head of Financial Controls
\nNo. of Vacancies: 1
\nJob Purpose
\nEnsuring the accuracy, completeness, and timeliness of all reconciliations within the Bank\u2019s financial systems. This includes bank accounts, general ledger accounts, intercompany accounts, and clearing as well as transit\/suspense accounts. The role ensures compliance with internal controls, regulatory requirements, and supports operational efficiency by resolving reconciling items promptly.
\nMain Duties and Responsibilities<\/p>\n
Central Bank Clearing & Nostro Accounts Reconciliations<\/p>\n
\u2022 Review all bank account reconciliations, including Nostro and Central Bank clearing accounts.
\n\u2022 Ensure timely identification and clearance of reconciling items by liaising with Operations and Treasury Back Office.
\n\u2022 Escalate and follow up on unreconciled items with respective departments within defined timelines.<\/p>\n
General Ledger (GL) Reconciliations<\/p>\n
\u2022 Oversee reconciliation of all GL accounts, ensuring accuracy and completeness.
\n\u2022 Take ownership of GL accounts management, ensuring proper assignment of ownership and classification into risk categories (high, medium, low).
\n\u2022 Perform frequent snap checks to validate reconciliations and address unusual or long-outstanding items.<\/p>\n
Intercompany Accounts<\/p>\n
\u2022 Follow up and review of reconciliation of intercompany payables and receivables.
\n\u2022 Ensure timely resolution of discrepancies and alignment with group reporting requirements.<\/p>\n
Reporting & Compliance<\/p>\n
\u2022 Prepare and submit monthly GL reconciliation reports to management and Group.
\n\u2022 Liaise with GL owners, reconcilers, and reviewers to ensure reconciliations are completed, reviewed, and attested timely.
\n\u2022 Ensure compliance with internal policies, regulatory standards, and audit requirements.<\/p>\n
Batch Proofing & Transaction Validation<\/p>\n
\u2022 Review daily batch proofing reports to confirm all payments are appropriately supported.
\n\u2022 Ensure batch proofing processes are executed accurately and timely.<\/p>\n
Risk Management & Controls<\/p>\n
\u2022 Maintain robust reconciliation controls to mitigate financial and operational risks.
\n\u2022 Identify process gaps and recommend improvements to enhance efficiency and accuracy.
\n\u2022 Support internal and external audits by providing reconciliation documentation and explanations.<\/p>\n
Stakeholder Engagement<\/p>\n
\u2022 Collaborate with Operations, Treasury, Finance, Credit and other business units to resolve reconciliation issues.
\n\u2022 Provide guidance and training to reconciliation staff on best practices and compliance requirements.
\nQualification, Skills and Knowledge
\nCore competencies:<\/p>\n
Banking Operations Background:\u00a0A strong knowledge of GL systems, bank operations, and reconciliation processes is essential.
\nAnalytical & Reporting Skills:\u00a0Proficiency in MS Excel and financial systems (e.g., Oracle, Finacle), and an ability to reconcile and analyze data from various departments, identify unusual and\/or long outstanding items, and prepare comprehensive reports is crucial.
\nCommunication Skills:\u00a0Excellent communication skills are needed to clearly articulate issues.
\nTeamwork & Leadership:\u00a0The ability to work collaboratively with other departments and potentially manage a team.
\nAttention to Detail and Accuracy:\u00a0A meticulous approach to review and verify batch\/processing data and processes is paramount to prevent errors.
\nHigh integrity\u00a0and commitment to compliance.<\/p>\n
Education:\u00a0A bachelor\u2019s degree in finance, Accounting, or related field from a recognised university (CPA\/ACCA preferred).
\nWork Experience:\u00a0Minimum 5 years\u2019 experience in financial reconciliations within banking or financial services and supervisory level experience.
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