Officer, Processing & Clearing at Standard Bank Group

Job purpose

• To receive instruments, customer instructions and process transactions in the most efficient manner adhering to the laid down policies and procedures.
• The candidate should have knowledge of KBA clearing rules
• The officer will be accountable for processing of transactions of a financial and non-financial in nature.
• The overall objective of the role is to provide day to day operations support in alignment with bank policies and procedures.

Key Responsibilities

• Ensure adherence to all routine control guidelines and procedures
• Ensure costs are kept to a minimum and identify any other avenues of cost reduction
• Support in testing, implementation, and application of business projects.
• Ensure efficiency and timely execution of all duties as per TAT and SLAs in place
• Teamwork- Ability to back up all team members, regular rotation
• Keep self-updated by attending regular relevant trainings as provided by People & Culture learning and development and within the unit.
• Effective leave plan and management.
• Problem solving on challenges faced, escalating where necessary.
• Taking ownership on all duties assigned.

Duties:

Inward Clearing

• Receipt of files from CBK (Sybrin system) – Confirm all files received and extract settlement report.
• Import files into CTS and confirm that all files are read in successfully.
• Identify any exceptions of items not read in and save the data to aid in investigation.
• Check the balances against CBK settlement report and or response files.
• Generate files into T24 and monitor the upload progress to completion
• On upload completion, advise Data Centre to generate referral reports for Credit evaluation
• Action all other exceptions that have defaulted into the inward clearing suspense accounts or failed post – post settlement figures from CBK
• Receive and process credit card referral report from Credit department
• Generation of unpaid files and submission to Sybrin ACH
• Balance and reconcile all inward and outward accounts as assigned.
• Raise clearing issues arising with team leader and technology
• Attend to queries arising from Branches, Customer Care and Customers
• Monitor system behaviour and promptly alert the technical teams for quick resolution in cases of errors/ downtime
• Post all previous day’s outward exceptions as advised 
• Retrieve all items not actioned sent out in previous day’s batch
• Inward direct debit mandate management – receipt of mandates, acknowledgment, and transmission.
• Maintain proper records for documents handled- either in soft or hard copies.
• Giving timely feedback to all stakeholders on items sent for action to clearing.

Outward Clearing

• Review incoming emails for any items requiring action, attend to all those that are pending
• Confirm closing balance against opening balances.
• Receive and confirm bags from branches
• Acknowledge items and send back confirmed schedules, retaining a copy
• Run extraction Process
• Reconcile extracted files against clearing accounts (Model Bank Statements)
• Import outward EFT credit file and EFT debit file to Sybrin CTS system
• Identify exceptions and investigate
• Retrieve exceptions and action as appropriate
• Liaise with I.T for system hand over and any I.T challenges
• Liaise with branches on processing issues
• Reprocess any cheque exceptions into Sybrin CTS system
• Balance and import outward files into Sybrin CTS system
• Reconcile Sybrin CTS system and core banking – (Model Bank) Positions
• Generation of files from Sybrin CTS system to Sybrin ACH
• Send the files to CBK
• Reconcile outward clearing accounts.
• Report and escalate any clearing issues arising 
• Send necessary feedback stakeholders
• Send outward reconciliation position to the clearing, reconciliation and payments managers
• Monitor systems and escalate promptly where further intervention is required.
• Confirm all items for re bank have been actioned by end of day.
• Proper filing and record keeping of all outward documents – schedules from branches, G4S.

QUALIFICATIONS

• Type of qualification: First Degree
• Field of study: Business Commerce

Other qualifications 

• Banking qualifications an added advantage
• Basic Accounting

Experience 

• Working knowledge relating to organizational and clearing processing in a service-oriented environment.
• 2-4 years’ experience in Clearing (ACH) which includes product knowledge in Cheque clearing, EFT,s and Direct debits)
• Experience in Reconciliations and settlements
• The candidate should have sufficient understanding of KBA rules on clearing
• Sybrin and T24 knowledge will be an added advantage