Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.
Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.
We are recruiting to fill the position below:
Job Title: Officer, Reconciliation
Job ID: 37506
Location: Lagos Mainland
Job Sector: Banking
- Operations: a range of essential and complex services to ensure processes across the bank work as effectively and efficiently as possible
- To support the Team Leader, deliver prompt reconciliation of all accounts under review and ensure there are no long outstanding items that can lead to financial loss for the bank.
- Ensure cleanliness and Integrity of all Internal/GL accounts in the branches/Head Office entities under coverage through the review of their proof of accounts
- Maintain a culture within the Bank that emphasizes and demonstrates to all the importance of reconciliation and its corresponding effect on service excellence
- Ensure accurate reconciliation of all accounts.
- Follow up with Branches / Head Office entities on end of month suspense accounts proofs
- Follow up on all unmatched and outstanding items by generating written queries to the applicable unit / SOL
- Prompt rendition of month end reports on Suspense accounts exceptions
- Prompt rendition of monthly / Quarterly EFASS reports on Nostro accounts
- Ensure proper filing, storage and retreival for Nostro accounts;
- Work along with other reconciliation functions within various departments under Country Operations
- Develops and implements initiatives to reduce cost and ensures that budgets for the Recons Unit are met.
- Develop initiatives to improve operational efficiency and achieve reduction in operational costs.
- Identifies and defines operational performance metrics geared towards meeting country objectives by analysing the existing gaps.
- Work closely with Team members to ensure that best practices and a standard approach is followed.
- Provides accurate and timeous MIS as per the matrix agreed with Centre (ROA Operations) to enable informed decision making
- Identifies and assesses the risks facing both systems and business processes thereby providing effective loss and risk management and so minimising the operational risks.
- Liaises with POR management in ensuring that regulatory, group policy standards and minimum operating procedures are observed to minimise the Bank’s exposure to risk.
- Identifies appropriate formal and occupational (informal) training needs and courses (internal/external) to develop oneself.
- Up-Skills self regarding new processes and procedures through attendance of workshops/presentations and reading of internal and external communications.
Internal & External Relationships
- PBB, Finance, Operations, HR, CIB - Internal Control & Support:
- Nature of relationship: Contribute to their service delivery
- Sphere of influence: Impact the whole business line (PBB, IB or EF)
- Description or examples: Reconciliation of Suspense & Settlement accounts , Develop & roll new products & platforms
Precise Financial Solution -Service provider:
- Nature of relationship: Influence industry norms
- Description or examples: Reconciliation Software Maintenance
CBN - Regulator; KPMG - Statutory audit:
- Nature of relationship: Influence their decision making
- Description or examples: Audit of Financial Statement