Reconciliations Officer - Tunapuna

The Reconciliation Officer ensures the accuracy of financial transactions by reconciling accounts, identifying discrepancies, and resolving issues to maintain the bank's financial integrity.

Job Summary:

The Reconciliation Officer is responsible for ensuring the accuracy and integrity of financial transactions by performing detailed reconciliations of various accounts. This role involves identifying discrepancies, investigating root causes, and collaborating with relevant departments to resolve issues promptly. The Reconciliation Officer plays a crucial role in maintaining the bank's financial health by ensuring all transactions are correctly recorded and balanced.

Key Responsibilities:

• Account Reconciliation:
• Perform daily, weekly, and monthly reconciliations of bank statements, general ledger accounts, and other financial records.
• Ensure all transactions are accurately recorded and discrepancies are promptly identified and addressed. 
• Discrepancy Investigation:
  • Investigate discrepancies identified during the reconciliation process.
  • Communicate with relevant departments to understand and resolve the root causes of discrepancies.
  • Document all discrepancies and their resolutions in a detailed and organized manner.
  • Maintain comprehensive documentation to support origination of all discrepancies identified.
• Transaction Monitoring:
  • Monitor financial transactions to ensure compliance with internal controls and regulatory requirements.
  • Identify unusual or suspicious transactions and report them to the appropriate authorities as per the bank’s policies.
• Process Improvement:
  • Identify opportunities to streamline reconciliation processes and enhance efficiency.
  • Collaborate with IT and other departments to implement process improvements and automation solutions.
  • Stay updated with industry best practices and incorporate them into the bank's reconciliation processes. 
• Compliance and Risk Management:
  • Ensure all reconciliation activities comply with regulatory requirements and internal policies.
  • Participate in risk assessment activities related to the reconciliation process.
  • Support internal and external audit activities by providing necessary documentation and explanations. 
• Collaboration:
  • Work closely with other departments to ensure seamless reconciliation processes.
  • Provide support and guidance to other team members as needed.
  • Participate in cross-functional projects to enhance overall financial accuracy and integrity.
• Assists with other duties as required.