Reconciliations Officer - Absa Bank

Job Summary

• To perform the balancing/reconciliation of the centralised General Ledger Accounts and Sub System Accounts in line with AO&R Policy within FC.

Key Accountabilities

Accountability:  Execution of reconciliations 

• Prepare the reconciliations as per the process and standards required in the AO & R Policy.
• Validate and understand the account balances including the recon/product usage and standard transactions.
• Perform a detailed reconciliation, substantiation and analysis of transactions posted and Identify, document all reconciling items on a timely basis within SLA.
• Investigate and resolve reconciling items on a timely basis and where mandated, prepare journals to clear differences and hand to mandated official to review and authorize or escalate to line manager if unable to resolve.
• Ensure appropriate evidence is attached/available to the reconciliation relating to all reconciling items as stipulated in the AO & R policy.
• Maintain a clear audit trail.
• Ensure that deadlines as identified in the SLA, for the completion of the reconciliations, are met. Provide early warning to the account reviewer and line manager of any possible failure to meet deadlines or procedure standards.
• Escalate unreconciled balances/exceptions and/or issues to the Reviewer, Cost centre owner and senior management.
• Sign/attest the reconciliation as evidence of preparation.
• Develop an adequate understanding of posting to the allocated accounts.
• Perform filling and electronic retaining of all reconciliations and documentation as required on the FSSA Shared drive.
• Ensure that the filling is done in an orderly manner to make query handling easier.

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Accountability:  Risk and Control 

• Identify and report items at risk (IAR) and balances not reconciled (BNR) and advise the account reviewer and/or the business controller of any corrective action where required.
• Provide clear detailed commentary for all exceptions and all IAR/BNR raised.
• Confirm that journals posted to the account are in line with the Journal policy.
• For accounts not fully reconciled or where long outstanding items have been identified, these need to be escalated to the account reviewer and/or business controller.
• Identify long outstanding items on reconciliations and resolve these where possible.
• The reviewer and business controller should, however, monitor the long outstanding items and escalate the issues as appropriate. The line manager should be aware of all long outstanding items that could indicate an ‘Item at risk”.
• Identify fraudulent transactions and escalate to management to ensure all laid down procedures and policies are adhered to at all times. Minimize risk and to prevent fraud.

Accountability:  Business Management 

• Collaborate and communicate openly across AO, areas where improvements can be implemented.
• Be courageous and innovative identifying new and improved processes which could lead to efficiencies within the area.
• Provide support to the Reviewer/Cost Centre owner in delivery of remediation actions.
• Keep abreast of developments and/or enhancements, internally and externally for systems and/or industry that can impact or change the business target operating model.
• Provide hand off information as agreed with Reviewer/Cost Center Owner.

Accountability:  Customer Service

• Assist with all queries received. If unable to resolve refer to line Manager for Guidance.
• Provide direction and input to enable Business Units to manage and resolve client and balancing issues.
• Build relations with the users in order to assist in resolving queries by meeting with them on an ad-hoc basis.
• Inform the Cost center owner of any changes in reconciler assignment for accounts under their current responsibility.
• Assist users with queries on rejections, error recycle and journals.
• Assist business with reconciliation and balancing problems that may arise by providing expert advice or conducting investigations into suspect or non-standard reconciliations.
• Ensure effective customer service by determining the root causes of the problems and assist in resolution.
• Ascertain clients (internal or external) needs through probing and listening, to determine the root cause of problems and to ensure excellent service.
• Ensure the satisfaction of the customer (internal or external) needs by responding efficiently, ensuring high quality of work and by meeting the required deadlines.
• Assist staff with unresolved or complex queries from clients within SLA hours of receipt to ensure query resolution.

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Accountability:  Personal Development 

• Ensure adequate and relevant training for the role. This includes the completion of the compulsory online training modules; and
• Ensure that a Performance Development plan is in place; request one if not
• Be accountable for your own personal development.
• Embrace the sharing of Knowledge and create a platform for growth and opportunities.

Role/Person Specification

Education and experience required:

• Grade 12/NQF Level 4
• 3 years’ reconciliations experience in banking
• Customer Service orientation

Knowledge and skills: 

• Basic Accounting knowledge
• Computer literacy
• Intermediary knowledge of Excel
• Ability to communicate effectively
• Pro-active/self-starter
• Flexibility
• Numerical competence

Competencies:

• Delivering results and meeting customer expectation
• Applying expertise and technology
• Analysing
• Following instructions and procedures
• Coping with pressure and setbacks
• Team Player

Education

• National Diplomas and Advanced Certificates: Financial Sciences (Required)

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