Vacancy title: Payments and Financial Transactions Reconciliations Officer[ Type: FULL TIME , Industry: Banking , Category: Accounting & Finance ]
Jobs at:Standard Chartered Bank
Deadline of this Job:
21 March 2023
Date Posted: Monday, March 06, 2023 , Base Salary: Not Disclosed
The Role Responsibilities
• The Payments and Financial Transacting Reconciliation Officer role has been established under the CPBB Servicing and Transacting function, under the Payments and Financial transacting unit.
• The purpose of this role to undertake and have oversight over reconciliations within the function which involves Mobile Money (NFS) platforms, Loan Operating Systems Reconciliations (Disbursements, Insurance, Repayments), VISA Settlements (ATMS & POS) and provide oversight over reconciliation activities of all suspense that the SnT function supports.
• The role will actively be involved in the Financial Controls System management ensuring items processes are fully substantiated and provide oversight over outsourced arrangements that impact on reconciliations.
• Customer satisfaction through quality and timely support of branches and other supported channels
• Enhance Banks image by providing high level customer service
• To assist the departmental head to create and sustain of a strong operational risk control environment by adhering periodic self-assessment of key controls to access the proper functioning and adequacy of existing controls and assist in coordinating, facilitating and promoting the understanding of operational risk and implementation and management of operational risk within the unit.
• To manage and have oversight on the clearing, loan repayment and reconciliation process to ensure good quality of service and process governance.
• Effective Query Management within bank’s TAT recommendations
• To ensure compliance with local Policies, national legal regulatory and government bodies requirements
• Ensure Bank profitability through efficient Operational Cost Management
• Reduce operational risk through effective reconciliation processes.
• Scrutinize high value unreconciled items and over aged items for effective decision making
• To ensure all transactions are properly authorised as per policy and banks guidelines
• Ensure excellent quality of service
• To manage and have oversight on the suspense account reconciliations and finding solutions for open items, including NFS, VISA, Mobile Money and other related transactions
• Management of the FCS substantiation, reconciliations and uploads
• To manage and have oversight on the TPGL exceptions
• To reconcile suspense accounts and ensure no items are above life span, i.e NFS, Mobile Money, Lending, Visa and other related accounts.
• Ensure timely and accurate data entry for both Hub (GBS) and Country postings
• Manage and achieve all defined and agreed service quality measures in all outsourced/migrated services
• Ensure compliance to credit policy guidelines
• Processing oversight of Direct Receipt Entries, Capital Reduction, Refunds, Early settlements
• Processing oversight of Credit Cards Repayment and Reconciliations
• Processing oversight of Overdraft processing and Reconciliations
• Processing, investigating and oversight of all suspense accounts and their reconciliations under SnT i.e Visa, NFS, MoMo, Clearing, Lending Lisa, Disbursement accounts, Insurance accounts, Agency Banking etc.
• Processing and monitoring of Cardless withdraws.
• Processing all FCS submissions with the agreed time frames, with the correct narrations and closure remarks
• Having oversight on all TPGL reconciliations and resolving breaks arising.
• Manage application process to achieve agreed loan turnaround times and maximize approval rates
• Maintain healthy relations with Credit and Credit Operations with view to harmonize workflows and quality of service.
• Management and resolution of client complaints
People and Talent
• Judgement required in prioritising work
• Judgement is exercised in rectifying operational problems
• Recognise transactions of irregular nature with a potential for frauds
• Good judgement required in controlling workflow to ensure all processing deadlines are met
• Continuously upgrade and develop new skills using the available internal and external platforms for knowledge sources.
• To ensure I remain alert to the risk of money laundering and assist in the banks efforts in combating it by adhering to the key principles in relation to; identifying your customer, knowing your customer, reporting suspicions, safeguarding records and not disclosing suspicions to customers.
• Understands products and target market as well as the risk associated with the business
• Understands the relevant law, regulations and practices to understand how they increase/ mitigate risk
• Ensure Clearing and posting adheres to the highest standards of regulatory and compliance practices, is in full compliance with all regulations and controls as set by the bank and external authorities; which includes compliance with local banking laws and anti-money laundering regulations and related guidelines.
• Fully comply with all policies and procedures and KCS to achieve satisfactory audit grades in local & Group audits
• Ensure you remain alert to the risk of money laundering and assist in the Bank’s efforts in combating it by adhering to the key principles in relation to: identifying your customer, knowing your customer, reporting suspicions, safeguarding records and not disclosing suspicions to customers.
• Ensure governance and control over outsourced processes to achieve compliance to local regulations and group policies and procedures.
Regulatory and Business Conduct
• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the Zambia / Servicing and Transacting business unit / Payments and Financial Transacting reconciliations team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Bank of Zambia, Zambia Electronic Clearing House Compliance with local Banking laws and anti-money Laundering regulations and related guidelines.
• Consumer Private and Business Banking clients
• Internal staff
• All banks participating in Clearing under ZECHL
• Zambia Electronic Clearing House
• Digital Banking Product Team
• Asset and Liabilities Product Team
• ront line staff
• GBS team
• Systems Support teams
• Embed Here for good and Group’s brand and values in Zambia, Servicing and Transacting team, Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats);
To support the local and foreign clearing and Governance functions that is:
• Ensure cheque returns are done without causing excesses on the customer accounts
• To ensure all inwards received for the day are validated and work balanced before end of day
• To investigate and attend to queries pertaining to customer accounts
• To validate and approve entries posted in eBBS
• To ensure regulatory returns are submitted before deadline to avoid penalties
• To ensure work and in coming cheques conform to money laundering regulations
• Ensure risks identified are resolved in an appropriate and timely manner
• Hold prime keys to the strong room
• Ensure adherence to the Group and local DOI and process notes in the processing of all activities
• Continuously update the DOI to reflect current practices.
Other Tasks will include:
• To validate all cheques and internally raised vouchers (LCY & FCY)
• To ensure Technical verifications are performed correctly
• To ensure Inwards and Outwards are processed through Sybrin
• To ensure all unpaids are processed in eBBS through ICRS and sent to ZECHL through Sybrin system
• To ensure cheques validated agree amounts in words and in figures
• To ensure Yufig messages are sent promptly for cheques unpaid with technical reasons before cut off times set by the Clearing house.
• Ensure effective monitoring of the outsourced clearing processes
• Retain the function of back office for all clearing activities for business continuity
• Any other responsibilities as assigned by the Line Manager
Our Ideal Candidate
• Minimum of 5 O’Levels Credits or better including Mathematics and English
• Degree (or equivalent) in banking related field
• Minimum of 3 years Banking experience
• Computer literate
• Customer focused
• Ability to interpret instructions
• Good communication skills
• Ability to plan, monitor and control effectively
• High organisational skills
• Strong interpersonal skills to build relationships with staff
Role Specific Competencies
• Accuracy and Attention to Detail
• Knowledge of Banking Products
• Knowledge of mobile Money products (NFS)
• General Ledger (G-L)
• Experience in Banking and Managing Suspense accounts
About Standard Chartered
We’re an international bank, nimble enough to act, big enough for impact. For more than 160 years, we’ve worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you’re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can’t wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you’ll see how we value difference and advocate inclusion. Together we:
• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
• In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
• Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
• Flexible working options based around home and office locations, with flexible working patterns
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies – everyone feels respected and can realise their full potential.
• Recruitment assessments – some of our roles use assessments to help us understand how suitable you are for the role you’ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Work Hours: 8
Experience in Months: 36
Level of Education: Bachelor Degree
Job application procedure
Click here to apply now
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