Officer, Nostro & CBN Reconciliation at Stanbic IBTC Bank

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.

We are recruiting to fill the position below:

Job Title: Officer, Nostro & CBN Reconciliation

Job ID: 61065
Location: Lagos Mainland, Lagos
Job Sector: Banking
Work Arrangement: Fully Office Based

Job Purpose

• To support the Team Leader, Prompt reconciliation of Nostro, CBN & Blotter to Nostro accounts and other aligned functions to ensure that there are no long outstanding items and to meet regulatory demand.

Key Responsibilities/Accountabilities
General:

• Daily reconciliation of Nostro, CBN and Blotter to Nostro accounts (Net Open Position-NOP)
• Daily monitoring and follow-up on the Aligned Units: SISL, IS and GMO accounts for resolution of non-conforming items
• Accurate matching of entries using Clirec Web Based Application.
• Initiates process of investigation into unusual occurrence in Nostros accounts.
• Ensure cleanliness and Integrity of all CBN/Nostro/ NOP accounts through the regular review of these accounts
• Maintain a culture within the Bank that emphasizes and demonstrates to all the importance of reconciliation and its corresponding effect on service excellence
• Follow up on all unmatched and outstanding items in the CBN / Nostro/ NOP accounts by generating written queries to the applicable unit / branch
• Prompt rendition of monthly / Quarterly EFASS reports on Nostro accounts
• Ensure proper filing, storage and retrieval for Nostro account statements

Outputs and Measures:

• Achievement of strategic goals (Unit / individual goals)
• Compliance and improvement on turn- around times (TAT) on delivery of reconciliation reports
• Number of ageing items on Nostro / CBN/ NOP accounts.
• Number of complaints / mismatched items
• Improved customer service and satisfaction levels as per customer survey results
• Reduction of costs and increased throughput
• Quality of risks mitigation interventions

Cost Management:

• Develops and implements initiatives to reduce cost and ensures that budgets for the Recons Unit are met.
• Develop initiatives to improve operational efficiency and achieve reduction in operational costs.

Performance:

• Identifies and defines operational performance metrics geared towards meeting country objectives by analysing the existing gaps.
• Work closely with Team members to ensure that best practices and a standard approach is followed.
• Provides accurate and timeous MIS

Control:

• Identifies and assesses the risks facing both systems and business processes thereby providing effective loss and risk management and so minimising the operational risks.
• Liaises with POR management in ensuring that regulatory, group policy standards and minimumn operating procedures are observed to minimise the Bank’s exposure to risk.

Self-Development:

• Identifies appropriate formal and occupational (informal) training needs and courses (internal/external) to develop oneself.
• Up-Skills self-regarding new processes and procedures through attendance of workshops/presentations and reading of internal and external communications.

Minimum Qualification and Experience

• First Degree (B.Sc) Accounting related field.
• Professional Certificate (ACA /ACCA, MBA) Accounting, Finance, Banking & Management.

Experience:

• General audit and banking experience
• Years: 1 - 2 years
• Experience Description: At least two years general audit and banking experience

Application Closing Date
Not Specified.