Reconciliations Manager at E-Barcs Microfinance Bank Limited

E-Barcs Microfinance Bank Limited is a leading Microfinance Bank, we have carved out a niche for ourselves in the Microfinance services industry investing our resources in the acquisition of latest technology, recruitment of best personnel, and expansion of services to the under-banked. As a firm believer in the Nigerian economy, we are committed to fostering financial inclusion, promoting economic growth, and driving positive change in our communities.

We are recruiting to fill the position below:

Job Title: Reconciliations Manager

Location: Abuja (FCT)
Employment Type: Full-Time
Reporting To: Chief Operations Officer

Role Summary

• The Reconciliations Manager is responsible for overseeing the reconciliation of all financial transactions across various accounts and platforms to ensure accuracy, compliance, and efficiency in financial reporting.
• The role requires exceptional analytical skills, attention to detail, and a deep understanding of banking operations and regulatory requirements.

Key Responsibilities
Reconciliation Management:

• Oversee the daily, weekly, and monthly reconciliation of bank accounts, digital payment platforms, and internal systems.
• Monitor and resolve discrepancies between bank statements, accounting records, and transaction reports.
• Ensure all suspense and unposted transactions are cleared within specified timelines.
• Develop and maintain reconciliation procedures and processes in compliance with bank policies and regulatory standards.

Operational Oversight:

• Lead and manage a team of reconciliation officers, ensuring efficient workflow and adherence to deadlines.
• Conduct root cause analysis of reconciliation issues and implement corrective measures to prevent recurrence.
• Collaborate with IT and other departments to enhance reconciliation systems and automate processes.
• Maintain up-to-date knowledge of industry best practices and ensure continuous improvement in reconciliation operations.

Compliance and Reporting:

• Ensure reconciliations are conducted in line with internal controls, audit requirements, and regulatory guidelines.
• Prepare and submit reconciliation reports to senior management, auditors, and regulators as required.
• Ensure accurate documentation of reconciliation processes and maintain a comprehensive audit trail.
• Address audit findings related to reconciliation and implement action plans for resolution.

Stakeholder Management:

• Serve as the primary point of contact for reconciliation-related queries from internal and external stakeholders.
• Coordinate with financial institutions, vendors, and partners to resolve reconciliation discrepancies.
• Support the Finance and Risk Management teams by providing insights and data related to reconciliation trends.

Key Performance Indicators (KPIs)

• Timely and accurate completion of reconciliations.
• Reduction in unreconciled items and suspense account balances.
• Resolution of discrepancies within agreed timelines.
• Compliance with internal and external audit requirements.
• Employee performance and development within the reconciliation team.

Qualifications and Experience
Educational Background:

• Bachelor's Degree in Accounting, Finance, Business Administration, or a related field. A Master's degree or professional certification (e.g., ACA, ACCA, CIMA) is an added advantage.

Experience:

• Minimum of 5 years of experience in reconciliation, financial operations, or a related role, preferably within the banking or financial services sector.
• Proven track record in managing teams and implementing process improvements.

Key Competencies and Skills:

• Strong analytical and problem-solving skills.
• In-depth understanding of banking operations, payment systems, and regulatory requirements.
• Proficiency in financial software, reconciliation tools, and Microsoft Office Suite, especially Excel.
• Excellent attention to detail and organizational skills.
• Strong leadership and team management capabilities.
• Effective communication and interpersonal skills.
• Ability to work under pressure and meet deadlines.

Remuneration
Competitive and commensurate with experience

Application Closing Date
8th January, 2025.

How to Apply
Interested and qualified candidates should send their CV in PDF to: [email protected] using “Reconciliations Manager Application” as the subject of the email.