OVERVIEW

The role has direct responsibility of ensuring that all the bank’s Agency and Suspense accounts are reconciled in line with existing guidelines on reconciliation.

KEY RESPONSIBILITIES: MUST NOT BE MORE THAN 10

• Reconcile and follow up for action on outstanding items in suspense accounts
• Ensure that all transactions in the bank’s suspense accounts are properly aged, and any items that are non-compliant are specifically raised with the concerned department/Branch.
• Confirm that all transactions involving the In-Transit account are reversed on a daily basis.
• Consolidate all suspense account returns ready for submission to Group Central Reconciliation Centre
• Reconciliation of clearing accounts
• Ensure that the age profile for all suspense transactions is as per set guidelines
• Mitigate all risks that may arise from suspense and Nostro & Vostro accounts
• First contact for all reconciliation matters from the branches, Head office, and Group.

DAILY RESPONSIBILITIES: NOT MORE THAN 5 OF THE MOST TYPICAL.

• Ensure all suspense accounts under reconciliation unit are reconciled on a daily basis
• Ensure all outstanding items are shared to respective units for action and rectified within the agreed time.
• Ensure that all transactions in the bank’s suspense accounts are properly aged
• Mitigate all risks that may arise from suspense and Nostro & Vostro accounts

CHALLENGES: GIVE ONE EXAMPLE OF THE CHALLENGES ENCOUNTERED IN THIS JOB.

• The system challenge is the most common one which affects our daily works e.g. delays on the settlement of entries and posting of transactions.