At a Glance
- Tasks: Perform daily reconciliations and enhance processes in a dynamic banking environment.
- Company: Reputable International Bank located in the vibrant West End of London.
- Benefits: Competitive salary, pension scheme, and hybrid working options.
- Other info: Short-term contract with opportunities for cross-training and skill development.
- Why this job: Join a fast-paced team and make a real impact on financial operations.
- Qualifications: Experience in Nostro reconciliations and familiarity with Intellimatch or similar tools.
The predicted salary is between 85000 - 87000 € per year.
West End based International Bank seeks a Reconciliations Officer with strong Nostro reconciliation experience gained in Banking or Financial Services. Previous experience using the Intellimatch platform or similar reconciliation matching tools such as Osfin, SmartStream TLM, Duco, and AutoRek is highly desirable.
Contract: 3-6 Month FTC - must be immediately available or on short notice
Location: London, West End
Industry Experience: Nostro Reconciliations from International Banking or Financial Services
JOB FUNCTION
The role is required for a period of 3-6 months as the work will be outsourced. Alongside the BAU, the successful candidate will have to complete the handover and train the offshore team.
KEY RESPONSIBILITIES
- 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 London Stock reconciliations.
- Analyse outstanding items, ensuring that transactions are allocated within the required timescales for the branches and all branch delivery deadlines are met.
- Perform manual matching.
- 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.
- Preparation of reporting including aged items, chaser and exception reports by branch.
- Monitoring and calculating all interest charges on accounts.
- Advise and manage external Nostro balances next day.
- Ensure positioning is reconciled to the external account and all material discrepancies actively pursued and managed.
- 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 Nostros to be performed.
ESSENTIAL EXPERIENCE REQUIRED
- Relevant Banking or FS industry experience, including competency in Intellimatch - Preferred
- Nostro reconciliations experience is essential
- Knowledge of back office multi-branch processing
- Able to write concise reports, business correspondence and procedure manuals
- Previous experience using Intellimatch or Osfin, SmartStream TLM, Duco, and AutoRek
£85000 - £87000 per annum + Pension, Hybrid working
Reconciliations Officer employer: Kennedy Pearce Consulting
As a leading International Bank located in the vibrant West End of London, we pride ourselves on fostering a dynamic work culture that values collaboration and innovation. Our employees benefit from competitive salaries, a robust pension scheme, and the flexibility of hybrid working arrangements, all while having the opportunity to enhance their skills through comprehensive training and development programmes. Join us to be part of a forward-thinking team where your contributions are recognised and rewarded, making a meaningful impact in the world of banking.
StudySmarter Expert Advice🤫
We think this is how you could land Reconciliations Officer
✨Tip Number 1
Network like a pro! Reach out to your connections in the banking and financial services sector. Let them know you're on the lookout for a Reconciliations Officer 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
Get your hands dirty with some practice! If you haven't already, familiarise yourself with Intellimatch or similar tools like SmartStream TLM. There are plenty of online resources and tutorials that can help you brush up on your skills, making you a more attractive candidate.
✨Tip Number 3
Prepare for interviews by diving deep into the specifics of Nostro reconciliations. Be ready to discuss your past experiences and how you've tackled challenges in this area. Show them you’re not just a fit on paper but also in practice!
✨Tip Number 4
Don't forget to apply through our website! We’ve got loads of opportunities waiting for you, and applying directly can sometimes give you an edge. Plus, it’s super easy to keep track of your applications that way!
We think you need these skills to ace Reconciliations Officer
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights your Nostro reconciliation experience and any relevant tools you've used, like Intellimatch or SmartStream. We want to see how your skills match up with 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 the Reconciliations Officer role. Share specific examples of your past experiences that relate to the job description.
Be Clear and Concise:When filling out your application, keep your language clear and to the point. We appreciate straightforward communication, so avoid jargon unless it's relevant to the role.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role without any hiccups!
How to prepare for a job interview at Kennedy Pearce Consulting
✨Know Your Nostro Reconciliations
Make sure you brush up on your Nostro reconciliation knowledge. Be ready to discuss your previous experiences in detail, especially any challenges you've faced and how you overcame them. This will show that you not only understand the process but can also handle the complexities involved.
✨Familiarise Yourself with Intellimatch
If you have experience with Intellimatch or similar platforms like Osfin or SmartStream TLM, be prepared to talk about it. Highlight specific instances where you used these tools to improve efficiency or resolve discrepancies. If you're not familiar, do some research to understand how they work.
✨Demonstrate Your Analytical Skills
The role requires analysing outstanding items and ensuring timely allocation of transactions. Prepare examples from your past roles where your analytical skills made a difference. Discuss how you approach problem-solving and any process improvements you've implemented.
✨Build Rapport with Internal Clients
Since the job involves maintaining excellent working relationships with internal and branch clients, think of ways to demonstrate your interpersonal skills. Share experiences where you successfully collaborated with teams or resolved conflicts, showing that you can communicate effectively and build trust.
