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Reconciliation Officer - Gauteng, Johannesburg

Johannesburg Johannesburg, Gauteng Gauteng, South Africa
Closing date
Jun 14, 2024

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Job Role
Contract Type
Full Time
Our client in the banking industry is looking for a Reconciliation Officer! To oversee accurate and timely reconciliations across all accounts, products, and systems, ensuring the smooth flow of trade transactions. Gain valuable experience in a critical role while streamlining discrepancy resolution.2-month contract

    3-4 years
    B Comm or equivalent tertiary level education
    Trade Services knowledge, including Back to Backs, Open Account Trade Finance, Risk Participation, Trade Loans, Exchange Control and Escrow accounts.
    good understanding of the purpose of a reconciliation.
    Good working knowledge of the mechanics of reconciliations
    High level ability to work with Excel including Pivot tables.
    Understanding of Balance Sheet Substantiation
    Daily review of Cash and Position reconciliation Management Information dashboards
    Previous experience in a Global Markets Reconciliations area recommended
    Building and maintaining stakeholder relationships in functions external to the teams at a supervisory level

      Daily reconciliation of Cash Cover, collateral, Call and Margin accounts
      Ensuring attention to detail when screening of position and cash reconciliations submitted to stakeholders and the timely escalation of any discrepancies as and when they are encountered
      The implementation of processes and controls to ensure that recons that reconciliations sent out to stakeholders are done so in accordance with service level agreements
      Strict monitoring and actioning of all internal controls
      Ensure satisfactory audit
      Obtain approval on initial and Subsequent Facility Drawdown processes
      Ensure deals have been approved by the deal committee before requesting authorization from management
      Escrow services - review submissions, match agreement to joint instruction, send for approval so that funds can be disbursement
      Ensure that the deals are executed in line with the deal specific approval and conditions precedent and sent for validation to management
      Investigate and resolve any discrepancies, raising issues to the relevant TMU Specialist and Trade Finance Operations and Global Markets trading desk
      Preparation of Manual Reconciliation templates
      Update Control First daily task checklist
      Update daily Management Information
      Filing of all reconciliation reports or relevant supporting documentation
      Investigating, resolving and responding to any queries
      Follow up and resolution of any Internal or External Audit queries

      Desired Skills:
      • Time Management
      • Critical Thinking
      • Spreadsheet software
      • Judgment and Decision Making
      • Active Listening
      • Tax preparation software
      • Accounting Software

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