Accountant – Bank Reconciliations at APA Life Assurance Company Ltd

KEY PRIMARY RESPONSIBILITIES

Bank Reconciliation

• Obtain the bank statement for every active company bank account — including premium collection accounts, operational accounts, investment accounts, and petty cash accounts — and compare each entry against the corresponding entry in the general ledger.
• Prepare a formal bank reconciliation statement for each account on a timely basis, clearly showing: opening balance per bank, closing balance per bank, outstanding deposits, outstanding cheques/payments, unexplained differences, and closing balance per ledger.
• Investigate and resolve all reconciling differences within the agreed SLA. Differences that cannot be resolved within this period must be escalated to the supervisor.
• Ensure that no reconciling item remains unresolved for more than 30 days without documented justification.

Ledger Maintenance & Correction

• Post any adjusting journal entries required to bring the general ledger into agreement with the bank statement — for example, recording bank charges, reversing incorrect entries, or recognizing bank interest — after obtaining the necessary approval.
• Liaise with the Accounts Payable, Accounts Receivable, and Treasury teams to clarify any transactions that appear on the bank statement but cannot be immediately identified.
• Ensure all bank entries in the general ledger are coded to the correct general ledger account and accounting period.

Controls & Compliance

• Ensure the bank reconciliation process is carried out in strict accordance with the company's internal control framework and financial policies.
• Maintain complete, organized, and audit-ready reconciliation files for all accounts, covering the current year and the prior two years as a minimum.
• Support internal and external auditors by providing reconciliation statements, working papers, and explanations of reconciling items as required.

ACADEMIC QUALIFICATIONS

• Bachelor's degree in Finance, Accounting, or a related field. 

JOB SKILLS AND REQUIREMENTS

• Accuracy & Analytical Thinking — able to identify discrepancies quickly and trace them to their source.
• Persistence — follows through on outstanding items until they are fully resolved.
• Integrity & Independence — operates as an objective control function, free from conflicts of interest.
• Time Management — delivers reconciliations on tight daily and monthly deadlines without compromise on quality.
• Communication — clearly communicates findings and outstanding issues to management in writing.

PROFESSIONAL QUALIFICATIONS

• CPA (Part II) or equivalent is an added advantage.

EXPERIENCE

• Minimum 2–3 years of experience in a bank reconciliation, finance, or accounting role, preferably within a regulated financial institution such as an insurance company, bank, or fund manager.
• Demonstrated experience reconciling multiple bank accounts simultaneously.
• Proficiency in accounting software and strong Microsoft Excel skills.
• Solid understanding of general ledger principles, journal entries, and month-end close processes.
• Familiarity with internal controls and audit requirements.