Manager, Reconciliations at Standard Bank Group

Job Purpose

• To manage the reconciliations team, oversee the various reconciliation portfolios and processes, and manage any complicated breaks, queries or escalations, to ensure resources are effectively allocated, all entries are matched and breaks are timeously resolved.

Key Responsibilities 

• Conduct an investigation of all long outstanding item breaks to understand underlying causes and query the relevant banks and /or dealing desk to assist in resolving unmatched items.
• Extract data and upload / capture the information into required systems to generate reports (e.g. Procon report) to effectively highlight key recon issues.
• Maintain advanced knowledge and stay abreast of the various asset classes and complex trade instruments, as well as recon procedures, risks, systems and processes to effectively manage and oversee the recons process and liaise with key stakeholders to resolve queries.
• Maintain an advanced understanding of the trade life cycle (from entry to exit) including roles and responsibilities, relevant recon systems (e.g. Intellimatch, Murex Core), and expected outputs that informs the recons process to effectively manage and execute the recons value chain.
• Manage escalated item breaks by liaising with relevant teams and stakeholders to resolve disputes and ensure items breaks are timeously resolved.
• Oversee cases and complete spot checks to ensure procedures are followed, and where required follow up on long outstanding item breaks and monitor high risk / high value items to ensure that all breaks are timeously resolved.
• Provide guidance and support to the recons team where required to ensure the recon is accurately marked up and breaks are identified.
• Provide training and on the job guidance to new team members to build capability and enhance skills to perform day-to-day operation duties.
• Review and validate all recommendations and engage with relevant stakeholders to implement all viable recommendations aimed at optimising relevant processes and procedures to ensure that the function performs in an optimal and efficient manner.
• Stay up to date and understand the regulatory environment in which CIB and IPSS operate to provide insights and input into internal policy and process updates.
• When required conduct spot checks and manage any escalated queries to ensure item breaks are timeously resolved.

QUALIFICATIONS
Minimum Qualifications

• Type of Qualification: First Degree 
• Field of Study: Business or related 

Experience Required

• Reconciliations
• Operations
• 5-7 years
• Intermediate knowledge and experience at a financial institution, including an understanding of Payments and Trade products, processes, and procedures. Knowledge of the foreign exchange market and processing cross border payments, as well as and understanding of the risks associated with managing transactions in multiple jurisdictions. Relevant recon experience within IPSS and a thorough understanding of systems, processes and procedures to perform and manage recons.

ADDITIONAL INFORMATION
Behavioral Competencies:

• Articulating Information
• Checking Details
• Directing People
• Documenting Facts
• Embracing Change
• Empowering Individuals
• Interacting with People
• Making Decisions
• Managing Tasks
• Taking Action
• Team Working
• Valuing Individuals

Technical Competencies:

• Banking Process & Procedures
• Cash Reconciliation
• Data Management (Administration)
• Financial Accounting
• Reconciling Financial Records
• Root Cause Analysis