At a Glance
- Tasks: Manage multi-branch reconciliations and drive process improvements for accuracy.
- Company: Join Europe Arab Bank, a leader in financial services with a collaborative environment.
- Benefits: Gain valuable experience in finance with potential for career growth.
- Other info: Temporary role with opportunities to learn and develop essential skills.
- Why this job: Make an impact by enhancing reconciliation processes and supporting operations.
- Qualifications: Experience in reconciliations and proficiency in Intellimatch or similar platforms.
The predicted salary is between 35000 - 45000 € per year.
At Europe Arab Bank we are looking to hire a specialist reconciliations analyst to support in a BAU position for a temporary period of 3-6 months.
Job Purpose
To provide focused accurate control of multi branch Nostro and suspense reconciliations processes. Drive auto-matching levels ensuring 100% accuracy of matched items. Additionally, the role requires the individual to identify gaps in the process, provide remedial recommendations and suggest general improvements to deliver a quality and effective level of support. Assist other members of staff within Operations as and when required.
Principal Accountabilities & Duties
- Perform daily reconciliation of the Nostro and suspense accounts including single and multiple matching post auto-reconciliation process as well as reconciling Client Equities and EAB London Stock reconciliations.
- Analyse outstanding items, ensuring that transactions are allocated within the required timescales for the EAB branches and all branch delivery deadlines are met.
- Perform manual matching after advice from EAB branches and departments.
- Actively pursue process improvements and constantly review and enhance working practices.
- Allocation of ownership and review internal and suspense account items including mid-month and month-end review.
- Develop and maintain excellent working relationships with internal and branch clients.
- Manage true Nostro outstanding items in Intellitracs cases.
- Conduct comprehensive cross training to provide cover at all times for reconciliation and control functions.
- Perform any other duties required to support the Senior Manager – Operations Control in initiatives to improve auto matching rates and system enhancements.
- Preparation of reporting including aged items, chaser and exception reports by branch.
- Monitoring and calculating all interest charges on accounts.
- Advise and manage EAB’s external Nostro balances next day. Ensure positioning is reconciled to the external account and all material discrepancies actively pursued and managed.
- Open Accounts: Setup new suppliers.
- Reconcile accounts owned by Reconciliations and BDC under GLO sign off procedure.
- Reconcile Brokerage reports to Kondor+ and provide report to the Front Office.
- Support / backup for investigations, verification of SWIFT's, signoff on returned payments.
- Ensure all relevant SOP's are kept updated.
- Ensure that the internal and external feeds (Ledger, balances plus MT940/50) are successfully uploaded overnight to enable a full and concise reconciliation of the Bank’s Nostro’s is performed.
Skills/Qualifications/Experience required:
- Relevant industry experience, including competency in Intellimatch.
- Knowledge of back office multi branch processing a distinct advantage.
- Competency in Microsoft Office suite.
- Able to write concise reports, business correspondence and procedure manuals.
- Nostro reconciliations experience essential.
- Previous experience using Intellimatch platform or relevant comparable platform e.g. Osfin, SmartStream TLM, Duco, and AutoRek.
Reconciliations specialist in City of London employer: Europe Arab Bank
Europe Arab Bank is an exceptional employer that values precision and innovation in the financial sector. With a strong focus on employee development, we offer a collaborative work culture where your contributions directly impact our operations. Located in a dynamic banking environment, we provide opportunities for professional growth and the chance to enhance your skills in reconciliations while working alongside experienced professionals.
StudySmarter Expert Advice🤫
We think this is how you could land Reconciliations specialist in City of London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and banking sectors. Let them know you're on the lookout for a reconciliations specialist role. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of Nostro reconciliations and Intellimatch. Be ready to discuss your experience with multi-branch processing and how you've improved processes in the past. Confidence is key, so practice makes perfect!
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Check out our website for openings at Europe Arab Bank and tailor your approach to show why you’d be a great fit for their team.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. Mention something specific from your conversation to show your genuine interest in the role and the company.
We think you need these skills to ace Reconciliations specialist in City of London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the role of Reconciliations Specialist. Highlight your experience with Nostro reconciliations and any relevant platforms like Intellimatch. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this position. Mention specific experiences that relate to the job description, especially around process improvements and multi-branch processing.
Showcase Your Analytical Skills:Since the role involves analysing outstanding items and ensuring accuracy, make sure to highlight your analytical skills in your application. We love candidates who can demonstrate their ability to identify gaps and suggest improvements!
Apply Through Our Website:Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team at Europe Arab Bank!
How to prepare for a job interview at Europe Arab Bank
✨Know Your Reconciliation Basics
Make sure you brush up on your knowledge of Nostro and suspense reconciliations. Be ready to discuss your experience with auto-matching processes and how you've ensured accuracy in previous roles. This will show that you understand the core responsibilities of the position.
✨Showcase Process Improvement Skills
Prepare examples of how you've identified gaps in reconciliation processes and implemented improvements. Highlight any specific tools or methods you've used, like Intellimatch or other platforms, to enhance efficiency. This demonstrates your proactive approach and problem-solving abilities.
✨Familiarise Yourself with Reporting
Since reporting is a key part of the role, be ready to discuss how you've prepared reports in the past, especially aged items and exception reports. Mention any experience you have with Microsoft Office suite for creating concise business correspondence and procedure manuals.
✨Build Rapport with Internal Clients
Think about how you've developed strong working relationships with internal clients in your previous roles. Be prepared to share strategies for effective communication and collaboration, as this will be crucial for success in the reconciliations specialist role.
