Analyst: Reconciliation (6-12 Months)

As the Analyst: Reconciliation, you will play a vital role in executing reconciliation policies for the organization, running the reconciliation processes and ensuring the accuracy of financial data for our clients while maintaining the single source of truth on all portfolios assigned to them. This role requires a deep understanding of financial operations and accounting, attention to detail, and the ability to execute on process improvement initiatives.

• Take full ownership of daily, weekly, and monthly reconciliations to ensure every financial transaction is accurately recorded and matched against the business's cashflow and ledger entries.
• Validate the cash position of the business at each cadence, ensuring completeness and transparency in financial reporting.
• Collaborate with relevant teams to ensure all discrepancies identified during reconciliations are addressed in a timely and effective manner.
• Prepare detailed management reports on the status of reconciliations, highlighting trends, anomalies, and actionable recommendations to improve financial accuracy and visibility.
• Develop a deep understanding of reconciliation procedures, associated risks, systems, and workflows to ensure all processes are executed efficiently.
• Act as the subject matter expert on reconciliation, providing guidance and insight to team members and stakeholders on resolving queries and optimizing processes.
• Continuously update your knowledge of evolving reconciliation technologies and practices to ensure the department remains at the forefront of efficiency and accuracy.
• Conduct regular audits of reconciliation processes as directed by the Senior Manager: Reconciliation to ensure compliance with established procedures and identify gaps that could compromise accuracy.
• Analyze findings from reconciliation audits to recommend and implement improvements to processes, systems, or controls.
• Actively monitor high-risk or high-value reconciliation items to mitigate financial exposure and ensure that long-outstanding exceptions are resolved promptly.
• Implement corrective measures for any deficiencies uncovered during audits and track their resolution to closure.
• Proactively monitor all accounts to detect unusual activity or anomalies that could signal discrepancies or risks in the reconciliation process.
• Investigate any identified anomalies and escalate significant issues for immediate resolution, ensuring no impact on business operations.
• Collaborate with risk and compliance teams to assess the root cause of anomalies and implement preventative strategies to avoid future occurrences.
• Take responsibility for tracking and resolving exceptions in the reconciliation process, ensuring that discrepancies are thoroughly analyzed and corrective actions are implemented.
• Establish clear communication channels with relevant teams, including operations, finance, and technology, to expedite the resolution of disputed items or mismatched transactions.
• Develop exception tracking reports to provide visibility into unresolved issues and follow up consistently to ensure exceptions are resolved within agreed timelines.
• Act as the escalation point for complex or high-impact reconciliation issues, ensuring all queries are addressed swiftly and effectively.
• Liaise with stakeholders across departments to clarify concerns, mitigate risks, and guarantee adherence to financial policies.
• Communicate resolution outcomes to stakeholders and maintain accurate records.

• At least 3 years experience in accounting with 2-3 years' experience managing reconciliation within a financial institution preferably a bank and a thorough understanding of digital payment services, processes, and procedures.
• Knowledge of the foreign exchange market, processing cross-border payments, and management of multiple currencies within a digital ecosystem, as well as an understanding of the risks associated with managing transactions in multiple jurisdictions.
• Strong analytical and problem-solving skills, with the ability to interpret complex financial data.
• Knowledge of regulatory and compliance requirements in the financial industry.
• Proficiency in reconciliation software and tools.
• Experience in the financial services industry is highly desirable.
• Bachelor's Degree in Finance/ Accounting or related field.
• Experience in the financial services or payment industry is highly desirable.