Specialist: Provider Reconciliations at Absa Group Limited (Absa)

Key accountabilities

Accountability: Execution of Reconciliations (60%)

• Develop an thorough understanding of system flows and postings to the allocated accounts;
• Assume the role for SME (subject matter expert) for the assigned reconciliations;
• Prepare the reconciliations as per the process and standards required in the AO&R policy;
• Perform a detailed analysis of transactions posted;
• Identify, document reconciling items on a timely basis;
• Investigate and resolve reconciling items on a timely basis, escalate to line manager if unable to resolve;
• Active engagement with stakeholders on complete elimination of reconciliation breaks i.e. reduce breaks to a minimum
• Ensure appropriate evidence is attached/available to the reconciliation relating to all reconciling items as stipulated in the AO&R policy
• Ensure that deadlines set for the completion of the reconciliations are met. Provide early warning to the account reviewer and line manager of any possible failure to meet deadlines or procedure standards;
• Electronic retention of all reconciliations and documentation as required on the PCG Shared drive.  Ensure that the filing is done in an orderly manner to make query handling easier;
• Thoroughness, rigor and attention to detail with regard to products, processes and controls;
• The capacity to work under pressure;
• The ability to build working relationships with the Product Controllers and other infrastructure units for issue resolution;
• The ability to identify solutions to complex problems and collaborate across teams to resolve breaks;
• Field various ad hoc requests.

Accountability: Risk and Control. (20%)

• Identify and report items at risk and advise the recon reviewer and/or the product controller of any corrective action where required;
• For accounts not fully reconciled or where long outstanding items have been identified, these need to be escalated to the account reviewer and/or product controller;
• Identify long outstanding items on reconciliations and own and drive the resolution of these;
• The Line Controller should be made aware of all long outstanding items that could indicate an ‘Item at risk’;
• Identify fraudulent transactions and escalate to management to ensure all laid down procedures and policies are adhered to at all times. Minimize risk and to prevent fraud;
• Identify the root cause of reconciling items and consider any risks associated with it

Accountability: Business Management. (5%)

• Define business requirements for improvements to systems, processes and reports;
• Drive the implementation of improvements identified in root cause analysis;
• Keep abreast of developments and/or changes to the IT system architecture;
• Keep abreast of developments and/or changes to the business target operating model.

Accountability: Customer Service (10%)

• Assist with all queries received via telephone or e-mail independently;
• Build relations with the Product controllers in order to assist in resolving queries by meeting with them on an ad-hoc basis;
• Assist business with reconciliation and balancing problems that may arise by providing expert advice or conducting investigations into suspect or non-standard reconciliations;
• Ensure effective customer service by determining the root causes of the problems, and identifying and proposing sustainable solutions;
• Ascertain clients (internal or external) needs through probing and listening, to determine the root cause of problems and to ensure excellent service.
• Ensure the satisfaction of the customer (internal or external) needs by responding efficiently, ensuring high quality and accuracy of work and by meeting the required deadlines

 Accountability: Personal Development. (5%)

• Ensure adequate and relevant training for the role. This includes the completion of the compulsory online training modules; and
• Ensure you define with your manager performance objectives that are measurable and achievable and this will contribute to your growth in the role
• Complete with your manager a performance Development plan with clearly defined milestones

Education

• Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (Required)