Officer, Nostro & CBN Reconciliation at Stanbic IBTC

Test Division Summary

Job Purpose
To support the Team Leader, Prompt reconciliation of Nostro, CBN & Blotter to Nostro accounts and other aligned functions to ensure that there are no long outstanding items and to meet regulatory demand.

Key Responsibilities/Accountabilities
General

• Daily reconciliation of Nostro, CBN and Blotter to Nostro accounts (Net Open Position-NOP)
• Daily monitoring and follow-up on the Aligned Units: SISL, IS and GMO accounts for resolution of
• non-conforming items
• Accurate matching of entries using Clirec Web Based Application.
• Initiates process of investigation into unusual occurrence in Nostros accounts.
• Ensure cleanliness and Integrity of all CBN/Nostro/ NOP accounts through the regular review of
• these accounts
• Maintain a culture within the Bank that emphasizes and demonstrates to all the importance of
• reconciliation and its corresponding effect on service excellence
• Follow up on all unmatched and outstanding items in the CBN / Nostro/ NOP accounts by
• generating written queries to the applicable unit / branch
• Prompt rendition of monthly / Quarterly EFASS reports on Nostro accounts
• Ensure proper filing, storage and retrieval for Nostro account statements

Outputs and measures

• Achievement of strategic goals (Unit / individual goals)
• Compliance and improvement on turn- around times (TAT) on delivery of reconciliation reports
• Number of ageing items on Nostro / CBN/ NOP accounts.
• Number of complaints / mismatched items
• Improved customer service and satisfaction levels as per customer survey results
• Reduction of costs and increased throughput
• Quality of risks mitigation interventions

Cost Management

• Develops and implements initiatives to reduce cost and ensures that budgets for the Recons
• Unit are met.
• Develop initiatives to improve operational efficiency and achieve reduction in operational costs.

Performance

• Identifies and defines operational performance metrics geared towards meeting country
• objectives by analysing the existing gaps.
• Work closely with Team members to ensure that best practices and a standard approach is
• followed.
• Provides accurate and timeous MIS

Control

• Identifies and assesses the risks facing both systems and business processes thereby providing
• effective loss and risk management and so minimising the operational risks.
• Liaises with POR management in ensuring that regulatory, group policy standards and minimum
• operating procedures are observed to minimise the Bank’s exposure to risk.

Self-Development

• Identifies appropriate formal and occupational (informal) training needs and courses (internal/external) to develop oneself.
• Up-Skills self-regarding new processes and procedures through attendance of
• workshops/presentations and reading of internal and external communications.

Minimum Qualification and Experience

• First Degree (BSc) Accounting related field
• Professional Certificate (ACA /ACCA, MBA ) Accounting, Finance, Banking & Management

Experience 

• General audit and banking experience
• Years: 1-2 Years

Experience Description: At least two years general audit and banking experience