Officer, Reconciliation at Stanbic IBTC Bank

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.

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.
• 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
• 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.

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)
• 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
• 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.

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

Application Closing Date
18th November, 2014

How to Apply
Interested and qualified candidates should:
Click here to apply online