Revenue Assurance Officer at Association of Chartered Certified Accountants

Job Purpose:

• Revenue assurance is important to identify, analyze, mitigate and prevent revenue leakage through a range of measures.
• It aims to reduce risks of losses due to errors, negligence, or fraud and ensures that discrepancies are identified and resolved quickly.
• It helps to identify opportunities to increase revenues and maximize profits. It also involves detecting possible opportunities for cost optimization and streamlining operations.

JOB RESPONSIBILITIES

• Review of all revenue lines to ensure that all income due to the bank is earned.
• Ensure the mapping of all asset lines to corresponding income lines are properly done as well as the unbundling of PAL accounts where necessary.
• Ensure the integrity of revenue-related system-generated entries and GL accounts.
• Review of settlement activities across all banking channels and payment options
• Monthly review of interest income, fees, and commission lines to ascertain the completeness and accuracy of recognized income.
• To work with other stakeholders to recoup income discovered not to have been earned by the bank.
• Engage with appropriate stakeholders in the automation of any manually recognized income to reduce human errors.
• Support to the Finance team toward efficient annual audits.
• Review Interest and Fees earned and ensure compliance with CBN guideline for charges.
• Monitor accounts on AMC concession and ensure account performance to avoid income leakages.
• Ensure that revenue lines are up to date with rules and regulations relating to VAT/WHT.
• Monthly report of revenue assurance activities, observation and recommendations