Manager Reconciliation

2 weeks ago

Johannesburg, Gauteng, South Africa Absa Bank Limited Full time
Empowering Africa's tomorrow, together one story at a time.

  • With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary

Manage the preparation and submission of daily/monthly recons for attestation. Includes the raising of the necessary IAR and BNR. Substantiation of the reconciliations in accordance to the AO&R policy. Manage adherence to policies, procedures, risk and controls. Responsible to assist with strategy and business requirements of reconciling the general ledger and associated sub systems. Provide leadership to team and provide assistance and cover for the manager. (2IC)

Job Description:

Accountability:
Manage - Balancing and Reconciliation (25%)

  • Manage the teams' delivery to confirm completeness and accuracy of the reconciliations prepared by the reconciler and approved by the reviewer.
  • Review the activity of the reviewer and reconciler, under their leadership and ensure correct mandates and controls are adhered too.
  • Ensure that the teams understand their responsibilities and raise any concerns to the Line Manager in respect of any training needs;
  • Review identified items at risk and advise the line Manager and/or the business
  • Controller of any corrective action where required.
  • Monitor the differences that team members have identified, and escalate any major differences or out of balance or any other discrepancies immediately to the line manager and/or business.
  • Monitor the issues identified by the team on the relevant system on a daily basis and followup long outstanding issues
  • Monitor that Absa policies are adhered to with regards to the reconciliation disciplines, service level agreements and general ledger accounting as per AO&R policy.
  • Develop and sustain knowledge and experience on the end to end processes, including product systems and general ledgers, in order to support business units with enhanced service delivery
  • Engage with Internal Audit and External Audit in the various audits within scope of responsibility.

Accountability:
Risk and Control (30%)

  • Assist in implementing all processes and controls required and understand and communicate any Risk management frameworks to team that impact the area.
  • For accounts not fully reconciled or where long outstanding items have been identified, these need to be escalated to the line manager and/or business controller.
  • To minimize Risk and to prevent loss.
  • Manage identified IAR (items at risk) and advise the line Manager and/or the business controller of any corrective action where required;
  • Monitor the differences that reconcilers have identified, and escalate any major differences or out of balance or any other discrepancies immediately to the line manager and stakeholders on a daily basis.
  • Assist with any Audit findings raised and work to close out these in the required time frame.
  • Monitor the issues identified by the reconciler on the relevant system on a daily basis and followup long outstanding issues.

Accountability:
Business Management (10%)

  • Recommend process or other changes as required in order to streamline processes and enhance efficiency.
  • Identify and/or recommend changes to be made to the reconciliations, based on the review performed, from the reconciler prior to escalation to the line Manager
  • Continuously identify areas to improve efficiency and reduce costs by enhancing business processes.
  • Explain targets based on the strategy to the team and take accountability for the monitoring and achievement of performance objectives in the department in terms of employee satisfaction, customer experience, cost performance, return on investments, risk, and compliance and governance requirements. Create quarterly and monthly plans to ensure delivery for the year.

Accountability:
Customer Service (5%)

  • Manage and assist with escalations of 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 adhoc basis.
  • Build relationships with stakeholders and be aware of any internal and/or external system and/or industry changes that will impact our business and support stakeholders when needed.
  • Guide 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 nonstandard reconciliations
  • Ensure effective customer service. Determine the root cause of the problems and assist with resolution.
  • Ascertain clients (internal or external) needs through probing and listening to determine the root

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