Reconcilliation Officer

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

To perform timely, accurate and complete reconciliations of assigned suspense, digital, Nostro, settlement and other general ledger accounts; identify, investigate, escalate and resolve reconciling items; maintain proper supporting documentation; and provide reliable reconciliation information to management to support financial control, regulatory compliance, loss prevention and effective decision-making.

Job Description​

• Daily Reconciliation, Investigation and Oversight — 60%

• Perform daily reconciliation of assigned accounts and products, ensuring completeness, accuracy and timely identification of unmatched, aged or exception items.
• Perform daily reconciliation of assigned accounts and products, ensuring completeness, accuracy and timely identification of unmatched, aged or exception items.
• Perform daily reconciliation of assigned accounts and products, ensuring completeness, accuracy and timely identification of unmatched, aged or exception items.
• Investigate discrepancies by reviewing source documents, transaction reports, system postings and branch or unit submissions, and recommend appropriate corrective actions.
• Investigate discrepancies by reviewing source documents, transaction reports, system postings and branch or unit submissions, and recommend appropriate corrective actions.
• Investigate discrepancies by reviewing source documents, transaction reports, system postings and branch or unit submissions, and recommend appropriate corrective actions.
• Engage branches, operations teams, finance, technology and other reporting units to obtain explanations and evidence required to clear outstanding items.
• Engage branches, operations teams, finance, technology and other reporting units to obtain explanations and evidence required to clear outstanding items.
• Engage branches, operations teams, finance, technology and other reporting units to obtain explanations and evidence required to clear outstanding items.
• Validate the correctness, ownership, ageing and risk impact of reconciling items, and escalate material, long outstanding or high-risk exceptions to the Supervisor or Manager.
• Validate the correctness, ownership, ageing and risk impact of reconciling items, and escalate material, long outstanding or high-risk exceptions to the Supervisor or Manager.
• Validate the correctness, ownership, ageing and risk impact of reconciling items, and escalate material, long outstanding or high-risk exceptions to the Supervisor or Manager.
• Maintain daily reconciliation templates, evidence and exception trackers in the approved shared repository for management information, review and audit trail purposes.
• Maintain daily reconciliation templates, evidence and exception trackers in the approved shared repository for management information, review and audit trail purposes.
• Maintain daily reconciliation templates, evidence and exception trackers in the approved shared repository for management information, review and audit trail purposes.
• Support process owners and branch teams with guidance on reconciliation requirements, balancing procedures and clearance of outstanding items.
• Support process owners and branch teams with guidance on reconciliation requirements, balancing procedures and clearance of outstanding items
• Support process owners and branch teams with guidance on reconciliation requirements, balancing procedures and clearance of outstanding items.
• Perform any other reconciliation, control or reporting tasks assigned by the Supervisor or Manager.
• Perform any other reconciliation, control or reporting tasks assigned by the Supervisor or Manager.
• Perform any other reconciliation, control or reporting tasks assigned by the Supervisor or Manager.

 

Policy, Procedure, Risk and Control Compliance — 30%

Outputs to deliver this accountability:

• Remain up to date with NBC policies, procedures, reconciliation standards, operational risk requirements and control changes communicated through approved channels.
• Comply with user access, password, information security, data confidentiality and segregation-of-duties requirements at all times.
• Maintain complete, accurate and retrievable records of reconciliations, approvals, explanations and supporting evidence in line with retention requirements.
• Contribute to loss prevention by identifying control weaknesses, operational risk events, unusual trends and potential fraud indicators arising from reconciliation activities.
• Comply with KYC, AML, sanctions, regulatory and internal control requirements relevant to reconciliation operations.
• Support internal and external audit reviews by providing timely, accurate and complete reconciliation evidence, explanations and issue updates.
• Prepare or support management information on reconciliation status, outstanding items, ageing, root causes and agreed action plans.
• Ensure all reconciliation activities are performed within the approved functional mandate and escalation framework.

Managing career and personal development —10%

Outputs to deliver this accountability:

• Meet agreed performance, learning and development objectives in line with the personal development plan.
• Meet agreed performance, learning and development objectives in line with the personal development plan.;margin-top:0in;">Meet agreed performance, learning and development objectives in line with the personal development plan.
• Agree measurable performance objectives with the Supervisor or Manager and review progress regularly.
• Agree measurable performance objectives with the Supervisor or Manager and review progress regularly.
• Agree measurable performance objectives with the Supervisor or Manager and review progress regularly.
• Proactively identify skills gaps, training needs and improvement opportunities relevant to reconciliation, risk management and reporting.
• Proactively identify skills gaps, training needs and improvement opportunities relevant to reconciliation, risk management and reporting.
• Proactively identify skills gaps, training needs and improvement opportunities relevant to reconciliation, risk management and reporting.
• Seek feedback, apply lessons learned and demonstrate continuous improvement in quality, timeliness and stakeholder service.
• Seek feedback, apply lessons learned and demonstrate continuous improvement in quality, timeliness and stakeholder service.
• Seek feedback, apply lessons learned and demonstrate continuous improvement in quality, timeliness and stakeholder service.

Role Specification:

Education requirement:

• Bachelor’s Degree or Advanced Diploma in Banking, Accounting, Finance, Business Administration or a related field.
• At least one year of relevant experience in reconciliation, banking operations, finance operations, branch operations or a related control function.
• Sound understanding of suspense, digital, settlement, Nostro and general ledger account operations, including reconciliation processes and exception management.

Skills requirement:

• Strong analytical, numerical and problem-solving skills, with the ability to interpret transaction data and identify root causes of discrepancies.
• High attention to detail, accuracy and completeness in preparing reconciliations, reports and supporting schedules.
• Good understanding of accounting principles, bank account reconciliation concepts, internal controls and operational risk management.
• Knowledge of relevant regulatory, KYC, AML, sanctions and compliance requirements applicable to banking operations.
• Ability to plan, prioritise and manage multiple reconciliations within strict daily, weekly and monthly deadlines.
• Ability to work independently and collaboratively with branches, finance, operations, technology and other stakeholders.
• Proficiency in Microsoft Word, Excel and PowerPoint;
• Intermediate to advanced Excel skills, including filtering, pivot tables, lookups and basic data analysis.
• Clear written and verbal communication skills, including the ability to explain exceptions, risks and required actions professionally

Qualifications

Analytical Thinking - Basic (Meets all of the requirements), Digital familiarity (Meets some of the requirements and would need further development), Enabling team success (Meets some of the requirements and would need further development), Ethics and values (Meets all of the requirements), Financial Experience, Management Accounting (Meets some of the requirements and would need further development), National Diplomas and Advanced Certificates - Financial Sciences, Openness to change (Meets some of the requirements and would need further development), Quality orientation (Meets all of the requirements)