Balance Sheet and Reconciliation Control Analyst

2 weeks ago

London, United Kingdom ICBC Standard Bank Full time

Summary

The Operations Division is an integral part of the back office, delivering a number of services to the Front Office and our external client base, in addition to providing regulators with appropriate regulatory control, and MI reporting, of the business conducted by ICBC Standard Bank Plc.

The support model includes, but is not limited to; trade support, clearing and settlement, control and operational risk management, and management of the bank's nostro/custodian/client accounts. We are process aligned to follow the front to back typical trade lifecycle, with a management structure accountable for our major product lines.

Complementing this structure are dedicated strategic change initiatives which work to improve our system infrastructure and business operating model in order to meet the increasing demands of our business and regulatory framework.

The organizational support model is structured in order to support all locations where trading activity occurs for ICBC Standard Bank PLC.

Operations Control is a critical function within Operations. Its purpose is to:

Define a framework in order that risk and control deficiencies are managed in an adequate and transparent manner in line with the wider Bank's framework Ensure the timely identification, assessment and mitigation of risks and control deficiencies Ensure adequate monitoring and reporting mechanisms are in place and aligned to the wider Bank's governance framework Provide a forward-looking internal assurance function in order that the risks and control deficiencies are continuously identified and remediated to acceptable levels

Job Purpose

The prime purpose of this role is to ensure an effective reconciliation management capability across Operations. The role is responsible for the governance of reconciliations as well as the execution and oversight of a number of reconciliations. In particular the role holder will be responsible for several key controls such as the contra, stock and nostro reconciliations.

The role also covers Balance Sheet processes and controls, as well as monthly substantiation across Operations in conjunction with colleagues in the team. This includes governance, risk and control oversight as well as control execution of certain processes.

The role holder will be expected to use technical, investigative and strong analytical skills to gain a detailed understanding of Operations' processes, in order to facilitate the timely identification, remediation, measurement and escalation of risks and control enhancements across the department.

Key Responsibilities

Daily Process Management
Team Engagement

Assist with the implementation of any Run the Bank and Change the Bank activity that impacts the department Assist in the delivery of strategy as defined by the Manager and provide progress updates in achieving these goals Ensuring adherence of the Balance Sheet and Reconciliation Control team to all relevant Bank standards and policies. Inspire all team members to deliver exceptional levels of service to clients, business area and within the team thus fostering a high performance service culture. Participate in cross training to ensure key staff dependency in the team is reduced

Culture

Promote adherence to high ethical standards of doing business within ICBCS Operations in line with the Bank's values. Role modelling the Bank's values and promoting those values within the Operations department.

Reporting and MI

Reporting promptly any significant performance, service or risk incidents to the Manager Supporting the preparation of any MI that is required from the Operations department.

Reconciliation Management

Reconciliation Governance: Definition and oversight of an Operations reconciliation 'standard', including assisting other reconciliation owners/users to attain this standard. RTB Reconciliation Production & Management (nostro, contra, stock, accounts, system to ledger):
o Daily reconciliation production and management
o Timely allocation
o Timely and accurate matching of items
o Oversight and management of any proposed write-offs
o Management of any rejected accounts/items
o Ensure timely and accurate account set ups
o Management of any out of proof accounts
o Management and escalation of any missing statements
o Ongoing management and maintenance of the reconciliation including regular reviews of matching rules, allocation rules, department codes etc.

Balance Sheet

Daily System to General Ledger production, management and break reconciliation Daily posting of adjustments to fix general ledger breaks Management and oversight of all balance sheet methodologies, as well as monthly spot checks on Operations-owned general ledger account substantiation, and substantiation processes General ledger account and profit center allocation for Operations-owned accounts Assist the Manager in the Balance Sheet Substantiation process to align with the Bank's General Ledger Substantiation Policy. Regular training across the Balance Sheet Substantiation function and processes

Preferred Qualifications and Experience

Preferred Qualifications and Experience

Experience of working within Operations and of the key controls in particular reconciliations

Knowledge, technical skills and expertise

The candidate will be educated to degree level or equivalent qualification & show strong numeracy skills The role owner will be excellent in the use of Microsoft Applications (including Excel to advanced level, Access, Word and PowerPoint) Familiarity with banking and trading products Ability to develop strong relationships with other functions within and outside of Operations department Methodical, able to work to strict monthly deadlines, strong team player, good problem solving skills Ideally the role owner will have a basic knowledge of macros

Personal attributes

Resilience Innovative and creative Ability to navigate complexity Works well under pressure and to tight deadlines Risk and Control mindset Pays attention to detail Results-orientated High level of integrity

The role would suit someone who is

Looking to build upon a solid Operations foundation

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