Company Info

Mid sized business

1 to 50 Employees

E-Barcs Microfinance Bank Limited - As a leading Microfinance Bank, we have carved out a niche for ourselves in the Financial services industry, investing our resources in the acquisition of latest technology, recruitment of best personnel, and expansion of services to the under-banked.

E-Barcs Microfinance Bank Limited – As a leading Microfinance Bank, we have carved out a niche for ourselves in the Financial services industry, investing our resources in the acquisition of latest technology, recruitment of best personnel, and expansion of services to the under-banked.

Job Title: Reconciliations Manager

Location: Abuja

Role Summary:

  • The Reconciliations Manager is responsible for overseeing the reconciliation of all financial transactions across various accounts and platforms to ensure accuracy, compliance, and efficiency in financial reporting.
  • The role requires exceptional analytical skills, attention to detail, and a deep understanding of banking operations and regulatory requirements.

Key ResponsibilitiesReconciliation Management

  • Oversee the daily, weekly, and monthly reconciliation of bank accounts, digital payment platforms, and internal systems.
  • Monitor and resolve discrepancies between bank statements, accounting records, and transaction reports.
  • Ensure all suspense and unposted transactions are cleared within specified timelines.
  • Develop and maintain reconciliation procedures and processes in compliance with bank policies and regulatory standards.

Operational Oversight

  • Lead and manage a team of reconciliation officers, ensuring efficient workflow and adherence to deadlines.
  • Conduct root cause analysis of reconciliation issues and implement corrective measures to prevent recurrence.
  • Collaborate with IT and other departments to enhance reconciliation systems and automate processes.
  • Maintain up-to-date knowledge of industry best practices and ensure continuous improvement in reconciliation operations.

Compliance and Reporting

  • Ensure reconciliations are conducted in line with internal controls, audit requirements, and regulatory guidelines.
  • Prepare and submit reconciliation reports to senior management, auditors, and regulators as required.
  • Ensure accurate documentation of reconciliation processes and maintain a comprehensive audit trail.
  • Address audit findings related to reconciliation and implement action plans for resolution.

Stakeholder Management

  • Serve as the primary point of contact for reconciliation-related queries from internal and external stakeholders.
  • Coordinate with financial institutions, vendors, and partners to resolve reconciliation discrepancies.
  • Support the Finance and Risk Management teams by providing insights and data related to reconciliation trends.

Qualifications and Experience

Educational Background:

  • Bachelor’s degree in Accounting, Finance, Business Administration, or a related field. A Master’s degree or professional certification (e.g., ACA, ACCA, CIMA) is an added advantage.

Experience:

  • Minimum of 5 years of experience in reconciliation, financial operations, or a related role, preferably within the banking or financial services sector.
  • Proven track record in managing teams and implementing process improvements.

Key Competencies and Skills

  • Strong analytical and problem-solving skills.
  • In-depth understanding of banking operations, payment systems, and regulatory requirements.
  • Proficiency in financial software, reconciliation tools, and Microsoft Office Suite, especially Excel.
  • Excellent attention to detail and organizational skills.
  • Strong leadership and team management capabilities.
  • Effective communication and interpersonal skills.
  • Ability to work under pressure and meet deadlines.

Key Performance Indicators (KPIs)

  • Timely and accurate completion of reconciliations.
  • Reduction in unreconciled items and suspense account balances.
  • Resolution of discrepancies within agreed timelines.
  • Compliance with internal and external audit requirements.
  • Employee performance and development within the reconciliation team.

Deadline: Not Specified

How to Apply: Interested applicants should send their CVs in a pdf format to: [email protected] using the Job Title as the subject of the mail.