Reconciliations Administrator

3 weeks ago

Centurion, South Africa Momentum Investments Full time

**Introduction**

**Role Purpose**

Execute the intra liability administration system, and Asset Vs Liability administration system reconciliation processes to ensure that all processed transactions are matched correctly; variances are investigated, and discrepancies are escalated to the correct parties to minimize business risks.

**Requirements**:

- BCom (finance major such as accounting, economics, or financial management) with
- 2 Years’ experience in CIS Manco administration or;
- 2 Years’ experience in LISP Unit trust trading administration.

**Duties & Responsibilities**

**Reconciliation (Internal Process)**
- Across our CIS Manco entities, Asset Manager entities, and Lisp entities
- Liability administration System Unit Value Vs. Liability administration System Cash
- Liability administration System Cash Vs. External Bank
- Liability administration System Cash Vs. Asset administration System Cash
- Asset administration System Units Vs. Custodian Units
- Asset administration System Cash Vs. External Bank
- Assess the root cause of each reconciling item, escalate the root cause to the correct root cause partner, and escalate clearance plan steps to each clearance partner.
- Manage the process of clearing each outstanding reconciling item by liaising with multiple stakeholders and tracking progress until resolution.
- Provide input into the Status of Recons risk identification processes by escalating findings regarding Age, nature and amount risk-analysed unmatched transactions, highlighting the risk of financial loss as part of the annotation, and by escalating any deficiencies in partner service to relevant management.
- Provide monthly reports to various stakeholders, respond to all the associated queries related to transactions forming part of the reconciliations, and provide feedback within the agreed service level.
- Develop and maintain productive and collaborative working relationship with peers and stakeholders by employing varied communication techniques that suit the various reporting structures, line of business systems, and ways of work.
- Review the data integrity of bank accounts, money market bank transaction, reconcile the variances, and escalate the issues to the relevant department.
- Capture interest adjustment transactions on the system based on information reflected on the external Manco or fund manager fund statements and provide timeous feedback to the trading team.
- Conduct integrity control on clients’ accounts by verifying that the amount paid for unit trusts is matched with the cash flows withdrawn from the clients’ accounts to enable the fair treatment of clients.
- Investigate unidentified or unallocated cash deposits or payments and escalate the findings to relevant departments or root cause partners in service teams.
- Understanding the mapping of financial structures between bank accounts entries and system entries to request reallocations where there are mismatches.
- Prepare refund instructions on invalid unmatched cash-flow exception transactions, or unmatched liability admin system transactions and forward them to relevant departments for instruction to banking and cash management team.
- Identify price corrections In Unit trust instruments held, or in CIS fund itself, prepare a trade analysis, drive the corrections to be processed by the relevant Fund Manager and escalate the corrections to relevant departments or stakeholders for corrections on client contracts.
- Ensure daily that the LISP assets vs Fund Manager assets are in line, and all discrepancies are investigated and cleared.
- Ensure daily that Fund Manager fund balances vs Fund Manager entries are in line, and that all discrepancies are investigated and cleared.
- Ensure that all write offs for units and cash are in balance and valid before every month end; any discrepancies to be handled accordingly and cleared.
- Responsible for weekly rotating responsibilities within the team such as manage the work mailbox, Finswitch downloads, bank allocations, and the query system.

**Engage with clients in a client centric manner (Client Services)**
- Investigate client queries within the agreed service level and ensure that client receives timeous feedback.
- Escalate client queries to the relevant department or stakeholder.
- Build and maintain relationships with clients and internal and external stakeholders.
- Deliver on service level agreements made with clients and internal and external stakeholders to ensure that client expectations are managed.
- Make recommendations to improve client service and fair treatment of clients within area of responsibility.
- Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

**Self-management and teamwork (People)**
- Continuously develop own expertise in terms of professional, industry and legislation knowledge.
- Contribute to continuous innovation through the development, sha

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