Senior Officer, Bank Reconciliation at AIICO Insurance Plc.

AIICO Insurance Plc (NSE Ticker: “AIICO”), established in 1963, is a financial services group with market-leading positions in its key business lines; Insurance, Health Maintenance and Asset Management.

We are recruiting to fill the position below:

Job Title: Senior Officer, Bank Reconciliation

Location: Lagos
Employment Type: Full-time

Job Description

• A bank reconciliation accountant is a professional who is charged to ensure that cash amounts in an organization’s accounting ledgers reconcile with actual bank balance.
• The role entails ensuring that guidelines and policies around cash processes are effective and efficient; and that such policies should help to prevent significant errors that may arise in any cash balance calculations.

Roles and Responsibilities

• Preparation of Bank Reconciliation schedule, review those done by other team members.
• Authorize the journals posted for adoption of bank charges and interest, raise the charges for the FCY accounts.
• To ensure adequate funding’s to paying banks through daily monitoring of balances in the bank accounts.
• Liaising with banks’ relationship officers on account operational matters escalated to me or assigned by the leadership.
• Disbursement paying banks funding directives daily.
• Stale cheques write back and reconciliation of the inter-business balance GL.
• POS dispute resolution.
• Authorize all Journals raised and posted as it relates to our different bank transfers, raise inter business settlement journals and refunds.
• Oversee the monitoring of discontinued GL’s for posting errors.
• Finalize the weekly reports (such as detailed liquidity report).
• Independent spot review of daily receipts issued by income and confirm them to inflow in the banks using the details in the receipts.
• Frequent review of the daily call over performed by confirmation team.
• Attend to queries from auditors (internal and external) as relate to bank reconciliation activities and other bank related activities with the aim of providing documentation required for the auditors to do their job satisfactorily.
• Periodic review of bank reconciliations and confirmation process and suggest improvement areas to further strengthen the process controls.
• Follows up all transactions continuously and provide updates to the management.
• Adhere to corporate standards and procedures in all reconciliation activities.

Qualifications
Education:

• Bachelor’s Degree in Accountancy or related fields.

Professional Qualification:

• Qualifications from professional accounting bodies would be an added advantage.

Experience:

• Proven work experience (4 years and above) as bank reconciliation officer reconciling multiple bank accounts with large volume of transactions.
• Experience in Treasury functions is an added advantage.
• Possess knowledge of general accounting principles and workings of the banking systems.
• Demonstrate the required skill to perform detailed work accurately and promptly too.
• Exemplify good communication skill and ability to communicate professionally with others both verbally and in writing.
• Display problem-solving skill even under stressful conditions and deadlines.
• Proficiency in Microsoft Office applications like Microsoft Word, Excel, and PowerPoint.
• Able to manage own time and that of others effectively.
• Manage and develop others in order to achieve organizational goals.

Core Competencies:

• Leadership: Strong leadership skills with the ability to inspire and motivate teams. Proven track record of managing and developing staff.
• Strategic Thinking: Ability to develop and implement long-term strategies that align with organizational goals. Strong analytical skills and the ability to make data-driven decisions.
• Communication: Excellent communication skills, both written and verbal. Ability to effectively communicate with all levels of the organization and external stakeholders.
• Problem-Solving: Strong problem-solving skills with the ability to identify issues, develop solutions, and implement changes effectively.
• Financial Acumen: Strong understanding of Financial Accounting and Reporting, Budgeting and Forecasting, and financial analysis, and accounting. Ability to perform analytical review.

Functional Competencies:
Technical Expertise:

• In-depth knowledge of financial accounting and reporting, Budgeting and Forecasting, financial analysis and financial management.
• Proficiency in computer-aided facility management (CAFM) software and other relevant technologies.

Financial Acumen:

• Ability to develop detailed cashflow analysis, track and resolve reconciling items, and identify cost-saving opportunities.
• Strong analytical, financial reporting and forecasting skills.
• Technology Proficiency: Proficiency in using technology and software for bank reconciliations and cash management.

People Management:

• Experience in managing bank relationships.
• Ability to relate well with internal and external parties.
• Strong communication skills.
• Ability to achieve cost-effective solutions without compromising quality.

Application Closing Date
4th November, 2024.

Method of Application
Interested and qualified candidates should send their Resume to: [email protected] using the Job Title as the subject of the mail.