Senior Officer- Nostro Reconciliations (Emiratized Role)

Join the UAE’s largest bank and one of the world’s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation. We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting & dynamic industry. 

JOB PURPOSE:

To execute the section’s operational activities ensuring risk is managed effectively and service is provided according to agreed SLAs with the Internal clientele. To provide service to our customers quickly without disruptions as per the agreed non-BAU and escalation matrices by mitigating risk & losses. Ensure timely submission of reports to MIS team for compiling. Authorize all manually matched items with difference in value dates and inform departments concerned. Review of Inbound and Outbound queues for SWIFT correspondence appropriately. Submission of Dashboard reporting across iTRACs case books under the specific account groups and intelliMATCH accounts. Verify monthly Reconciliation reports and forward to line manager for review. Execute the archiving of reconciliation records and miscellaneous reports. Track the daily issues and operational risk through tick lists, accounts lists allotted to staff and traffic light reporting. Provide and control unapplied credits account, unpresented and unclaimed accounts. Ensure timely submission of reports.

KEY ACCOUNTABILITIES:

Policies, Systems, Processes & Procedures

• Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that work is carried out in a controlled and consistent manner.
• Demonstrate compliance to organisation’s values and ethics at all times to support the establishment of a value drive culture within the bank.

Continuous Improvement

• Contribute to the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.  

Reporting

• Assist in the preparation of timely and accurate statements and reports to meet department requirements, policies and quality standards.

Job Context

Service

• Ensure exception management handling is performed and authorize proper distribution of reconciliation to staff. Monitor all reconciliation are properly conducted and submitted on time. Supervise the follow-up of all outstanding items with banks and branches.
• Execute the day-to-day operations of the Reconciliation section and ensure that the functions are being performed in a timely, effective manner by applying a judgmental approach. Reconciliation reports are drawn once a month and all exceptions are followed up closely for settlement as per agreed escalation matrices with the Internal Clients.
• Control and execute the reconciliation of Nostro accounts /  Inter Branch Call accounts with Treasury for all activities generated in the Nostro Accounts / GMO /FCIS / TFO / CBG / SSD / GRC / SWITCH strictly as per respective departments non-BAU requirements. Ensure prompt and correct follow up to resolve all outstanding issues effectively by escalating all irregularities to higher management in the dashboard reporting.
• Review statistics of Nostro accounts and verify all service charges of Nostro accounts.
• Report any pending tasks to the senior team to allot the tasks accordingly.
• Ensure prompt response to inquiries from Internal / External clients.
• Ensure proper integrity in balance pools with proper release of MT950/940 reject batches thru intelliMATCH-Recollector, addition/deletion of entries accurately as per real account statements with MIS team coordination and release from bindery locked intelliMATCH

Risk

• Escalate, control and monitor the work flow by taking into consideration Operational Risk in our day-to-day activities and check that staff adhere to control procedures.
• Ensure exceptions are escalated as per agreed BAU and escalation matrices in order to escalate items as per Value at Risk.
• To notify any errors in the issue reporting.
• Ensure no incomplete work due to any event/staff absence.
   

Efficiency

• To manage the work flow efficiently with the resources available without compromising on the risk and services.
• Provide improvement suggestions to increase the quality and efficiency in our work resulting in the best customer service.

Minimum Qualification

• Bachelor’s degree in Business Economics, Commerce and Finance or related discipline.

Minimum Experience

• 4-8 years’ relevant experience in the banking sector with at least 5 years in similar positions of progressively increasing managerial responsibilities in the Core Processing function.